Retirement plan investors were light traders in June, with just one above-normal1 trading day, according to the Alight Solutions 401(k) IndexTM. Net transfers for the month were only 0.11% of balances, down from 0.35% in May.
June observations:
• On average, 0.011% of 401(k) balances were traded daily.
• 15 of 20 days favored fixed income funds.
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Inflows and outflows during the month of June:
• Trading inflows mainly went to bond, international equity and stable value funds. • Outflows were primarily from large U.S. equity, mid U.S. equity and small U.S. equity funds. |
Asset classes with most trading inflows in June | Percentage of inflows | Index dollar value ($mil) |
| Bond funds | 49% | $148 |
| International equity funds | 21% | $63 |
| Stable value funds | 12% | $37 |
Asset classes with most trading outflows in June | Percentage of outflows | Index dollar value ($mil) |
| Large U.S. equity funds | 44% | $132 |
| Mid U.S. equity funds | 17% | $50 |
| Small U.S. equity funds | 16% | $49 |
June investment portfolios: |
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Asset classes with largest percentage of total balance at the end of June | Percentage of balance | Index dollar value ($mil) |
Target date funds2 | 31% | $85,637 |
Large U.S. equity funds | 30% | $83,566 |
International equity funds | 7% | $19,022 |
Asset classes with most contributions in June | Percentage of contributions | Index dollar value($mil) |
Target date funds2 | 49% | $558 |
Large U.S. equity funds | 23% | $255 |
International equity funds | 7% | $78 |
Returns for common indices | June | 2025 YTD |
Bloomberg Barclays U.S. Aggregate Bond Index | 1.54% | 4.02% |
S&P 500 Index | 5.09% | 6.20% |
Russell 2000 Index | 5.44% | -1.79% |
MSCI All Country World ex-U.S. Index (net) | 3.39% | 17.90% |
1 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 2 times the average daily net activity of the preceding 12 months.
2 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.
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