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In September, trading in 401(k) plans was among the lowest on record, according to the Alight Solutions 401(k) IndexTM. Net daily trading activity for the month was 0.0119% of balances, the second lowest month since the Index’s inception in 1997 and the lowest month since July 2017 (0.0118%).
For the third consecutive month, September had no days of above-normal1 trading activity. In the more than 20-year history of the 401(k) Index, this is only the second time that three consecutive months have experienced no days of above-normal trading activity. The only other time this happened was January through March of 2017.
The Alight Solutions 401(k) Index™ statistics for the month of September 2018:
Inflows and outflows during the month:
September investment portfolios:
September market observations
Domestic equities delivered mixed returns for the month, with large U.S. equities (represented by the S&P 500 Index) up 0.6% and small U.S. equities (represented by the Russell 2000 Index) falling -2.4%. International equities (represented by the MSCI All Country World ex-U.S. Index) returned 0.5% and U.S. bonds (represented by the Bloomberg Barclays U.S. Aggregate Index) dropped -0.6%.
Members of the media: please contact Landis Cullen for questions about the Alight Solutions 401(k) Index™.
Learn more about the Alight Solutions 401(k) Index here.
A “normal” level of relative transfer activity is when the net daily movement of participants’ balances as a percent of total 401(k) balances within the Alight Solutions 401(k) Index™ equals between 0.3 times and 1.5 times the average daily net activity of the preceding 12 months. A “high” relative transfer activity is when the net daily movement exceeds two times the average daily net activity. A “moderate” relative transfer activity is when the net daily movement is between 1.5 and two times the average daily net activity of the preceding 12 months.
Target date funds also include the amounts in target risk funds. The amount in the target risk funds is less than 10% of the total.