AIM of real S&P500 price since 1871 used to let AIM settle, and then from 1929 ... saw cash reserves rise and fall in a appropriate manner in reflection of highs/lows. Such as early 1980's it was appropriate to be stock-heavy, 1999 highs it was better to be stock-light ...etc.
Compared to had you just constant weighted to the same average stock/cash that AIM averaged (near 50/50) yielded over a 1% difference i.e. AIM's timing/weighting did OK
For end of June figures US inflation is running at near 5% so 1.05^(1/12) = 1.0041 increase in CPI index value, so whilst nominal S&P 500 price is up, in real terms its pretty much unchanged and as such AIM is still indicating around 63% cash as being appropriate.
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