Investments held in 401(k) accounts tilted heavily to stocks at the end of last year with target date funds gaining popularity, even with younger workers, according to a report by the Investment Company Institute.

The report found that 61 percent of 401(k) assets was invested in equity securities through equity funds, the equity portion of balanced funds and company stock. One-third was held in fixed-income securities.

Target date funds were offered by 72 percent of plans with 15 percent of assets invested in them. Target date funds, which automatically rebalance investments to provide income as an investor nears retirement, were held in 41 percent of 401(k) accounts, up from 39 percent the prior year.

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