BALTIMORE, Oct. 5, 2015 /PRNewswire/ -- News
T. Rowe Price (NASDAQ-GS: TROW) has launched its new Retirement I Funds, a series of target date funds for retirement plans and other institutional investors with lower shareholder servicing costs. The 13 new Retirement I Funds have identical investment strategies to those of the firm's flagship Retirement Fund series, but are differentiated by lower shareholder servicing costs. The funds' glide paths, underlying funds and targeted asset allocation are the same. The Retirement I Funds series is a part of the firm's continued commitment to offer lower-cost investment solutions to investors.
"T. Rowe Price has long been committed to offering our investment strategies across a range of vehicles, accommodating the needs of institutional investors' through mutual funds, trusts and separate account management," said George Riedel, head of T. Rowe Price's Financial Institutions business. "The launch of the Retirement I Fund series is a natural extension of our ongoing effort to meet the investment needs of our institutional and retirement clients."
Scott David, head of T. Rowe Price's U. S. Investment Services added, "We believe that the introduction of the Retirement I Fund series will strengthen our competitiveness in the institutional and retirement plan marketplaces, which remain key focus areas for T. Rowe Price."
Financial intermediaries, retirement plans, other institutional investors, and individuals investing a minimum of $1 million can use Retirement I Fund series as a low-cost share class option. The Retirement I Fund series add to the 19 I Class offerings T. Rowe Price launched in September 2015.
Below is the full list of the 13 new Retirement I Funds that are available as of October 1, 2015.
T. Rowe Price Retirement I 2005 Fund - I Class
T. Rowe Price Retirement I 2010 Fund - I Class
T. Rowe Price Retirement I 2015 Fund - I Class
T. Rowe Price Retirement I 2020 Fund - I Class
T. Rowe Price Retirement I 2025 Fund - I Class
T. Rowe Price Retirement I 2030 Fund - I Class
T. Rowe Price Retirement I 2035 Fund - I Class
T. Rowe Price Retirement I 2040 Fund - I Class
T. Rowe Price Retirement I 2045 Fund - I Class
T. Rowe Price Retirement I 2050 Fund - I Class
T. Rowe Price Retirement I 2055 Fund - I Class
T. Rowe Price Retirement I 2060 Fund - I Class
T. Rowe Price Retirement Balanced I Fund - I Class
Download a prospectus for the T. Rowe Price Retirement I Funds or obtain one by calling 1-800-564-6958.The prospectus includes investment objectives, risks, fees, expenses and other information that you should read and consider carefully before investing.
The principal value of the Retirement I Funds is not guaranteed at any time, including at or after the target date, which is the approximate year an investor plans to retire (assumed to be age 65) and likely stop making new investments in the fund. If an investor plans to retire significantly earlier or later than age 65, the funds may not be an appropriate investment even if the investor is retiring on or near the target date. The funds' allocations among a broad range of underlying T. Rowe Price stock and bond funds will change over time. The funds emphasize potential capital appreciation during the early phases of retirement asset accumulation, balance the need for appreciation with the need for income as retirement approaches, and focus on supporting an income stream over a long-term postretirement withdrawal horizon. The
funds are not designed for a lump-sum redemption at the target date and do not guarantee a particular level of income. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility over shorter time horizons.
T. Rowe Price Investment Services, Inc. distributor.
ABOUT T. ROWE PRICE
Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a global investment management organization with $773.0 billion in assets under management as of June 30, 2015. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. For more information, visit
troweprice.com or our Twitter, YouTube, LinkedIn, and Facebook sites.
This press release does not provide investment advice or recommendations. Nothing in this press release shall be considered a solicitation to buy or an offer to sell a security, or any other product or service, to any person in any jurisdiction where such offer, solicitation, purchase, or sale would be unlawful under the laws of such jurisdiction.
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SOURCE T. Rowe Price Group, Inc.
