Press release
T. Rowe Price To Lower Expenses Across Target Date Lineup And Expand Offering With New Blend Fund Series
Fee reductions effective July 1; new Retirement Blend series expands strategy that combines active and passive management to wider audience Firm launches
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"Fee reductions effective July 1; new Retirement Blend series expands strategy that combines active and passive management to wider audience\n Firm launches marketing campaign to demonstrate how its target date investing approach is designed to help clients achieve retirement goals\n\n\nBALTIMORE, May 24, 2021 /PRNewswire/ --\nNEWS\nT. Rowe Price Group, Inc. (NASDAQ-GS: TROW), a market leader in retirement and target date investing and the only target date manager with a \"High\" rating on Morningstar's predictive pillars of People, Process, and Parenti, announced that it will reduce expenses across its suite of target date mutual funds and trusts. T. Rowe Price also filed a new series of target date funds for registration with the Securities and Exchange Commission (SEC) today and has launched a marketing campaign, centered on the theme \"Retirement. Meet Your Match,\" to promote how the breadth of the firm's target date solutions can help investors meet their unique retirement goals.\nFee reductions on all T. Rowe Price's target date portfolios will take effect on July 1, 2021. The new Retirement Blend Fund series is expected to be available publicly on or about July 28, 2021 and will offer Investor Class and I Class shares across all vintages, from 2005-2065. \nQUOTES\nWyatt Lee, portfolio manager and head of Target Date Strategies, Multi-Asset\n\"We understand everyone's path to retirement is different, and we look forward to delivering greater choice and value to the target date marketplace through these lower fees and the new Retirement Blend Funds. As long-established leaders in retirement and target date investing, we have tremendous conviction in our approach to managing target date assets and we are pleased to extend our offering to a wider base of retirement investors, plan sponsors, and advisors.\" \nSébastien Page, global head of Multi-Asset\n\"Target date strategies are the core of many investors' retirement portfolios today because of their simplicity, efficiency, and value. T. Rowe Price has always focused on delivering investment excellence to our clients and the changes we're announcing today will add more choice and improved pricing to what we believe is already a robust selection of target date and multi-asset portfolios.\"\nRobert Higginbotham, head of Global Distribution\n\"The retirement savings gap worldwi...