Government Executive: Federal employees and retirees moved their retirement savings out of equity funds and into government securities in June in large numbers during a down month sparked by Brexit’s fallout.
Thrift Savings Plan enrollees moved $1.8 billion into the G Fund in June, transferring money out of equity funds -- most significantly the S Fund, invested in small and mid-size companies, and International (I) Fund. The I Fund dropped precipitously in June as the TSP struggled overall in the month. A vote in June by the United Kingdom to leave the European Union sent markets into free fall, though they have mostly recovered.
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