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April saw a slight increase in trading activity among investors in defined contribution plans, with two days of above-normal trading, according to the Alight Solutions 401(k) Index. On average, 0.015% of balances traded each day, up slightly from 0.014% in March. When investors made trades, nearly half of inflows went into international funds, with the vast majority of outflows coming from company stock and U.S. equity funds.
Asset Classes with Most Trading Inflows in April
Asset Classes with Most Trading Outflows in April
Asset Classes with Most Contributions in April
Asset Classes with Largest Percentage of Total Balance at end of April
Capital markets saw modest gains across the board in April. International equities (represented by the MSCI All Country World ex-U.S. Index) increased by over 2% during the month, while U.S. Large-Cap (represented by the S&P 500 Index) and U.S. Small-Cap (represented by the Russell 2000 Index) each increased by over 1%. U.S. bonds (represented by the Bloomberg Barclays U.S. Aggregate Index) increased nearly 1% during April.
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 day is when the net daily movement exceeds two times the average daily net activity. A “moderate” relative transfer activity day 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.