August AAII Asset Allocation Survey: Equity Holdings Decline While Fixed Income Allocations Remain Unchanged
Cash holdings rose among individual investors last month, according to the August AAII Asset Allocation survey. Equity holdings declined, while fixed income allocations were essentially unchanged.
Stock and stock fund allocations declined by 2.9 percentage points to 62.3%. This reversed last month’s increase, but kept equity allocations within the range that has held throughout most of this year. August was the fifth consecutive month and the seventh out of the past eight months with stock and stock fund allocations above their historical average of 60%.
Bond and bond fund allocations increased 0.1 percentage points to 17.2%. August was the third consecutive month with fixed-income allocations coming in at either 17.1% or 17.2%. August was also the 50th consecutive month with bond and bond fund allocations above their historical average of 16%.
Cash allocations rebounded by 2.8 percentage points to 20.5%. August was just the third month in the last eight months with a cash allocation reading above 20%. August was also the 21st consecutive month with cash allocations below their historical average of 24%.
Fixed-income allocations seem to be holding a new lower, albeit still above average, range…