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T. Rowe Price Retirement I 2050 I TRPMX

Medalist Rating as of | See T. Rowe Price Investment Hub
  • NAV / 1-Day Return 16.17  /  0.19 %
  • Total Assets 7.3 Bil
  • Adj. Expense Ratio
  • Expense Ratio 0.450%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Target-Date 2050
  • Investment Style Large Blend
  • Credit Quality / Interest Rate Sensitivity High / Extensive
  • Status Open
  • TTM Yield 1.33%
  • Turnover 23%

Morningstar’s Analysis TRPMX

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T. Rowe Price Announces Changes to its Target-Date Lineup; Ratings Unchanged

null Megan Pacholok

Megan Pacholok

Analyst Note

On June 28, 2023, T. Rowe Price announced upcoming changes to its target-date lineup, including T. Rowe Price Retirement. The changes affect neither the strategy’s High People Pillar rating nor its High Process rating. Starting in 2023’s third quarter, management will add Hedged Equity and Dynamic Credit as building blocks to the target-date strategy’s glide path and will gradually increase the funds’ allocations until they reach the new target allocation. T. Rowe Price has a strong record of introducing and implementing enhancements to the glide path. The updates seek to address potential downside risk and volatility for investors at or near the retirement stage. The Hedged Equity fund’s allocation will peak at the retirement date; it’s expected to make up 5.5% of the portfolio. The Hedged Equity strategy has been a separate account since 2021, and it will launch as a mutual fund in July 2023. Adding newly launched funds to a target-date lineup isn’t considered best practice, but the firm’s dedication to enhancements and research-based approach helps balance some concern. The Dynamic Credit fund, which was incepted in 2019, has a target allocation of 1.4% at the retirement date, but will steadily increase to a maximum of 2.3% at the end of the glide path. The changes are applicable to both the mutual fund and collective investment trust versions of the series. The firm also announced the upcoming merger of the Retirement I Fund series into a new I Class of the existing Retirement Fund series. This would align them with competitors in the target-date industry that offer multiple share classes rather than multiple fund series. The change is expected to take place in February 2024 and is being managed to minimize negative tax implications for those that hold the series in a taxable account.

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Portfolio Holdings TRPMX

  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 0
  • Other Holdings 24
  • % Assets in Top 10 Holdings 83.1
Top 10 Holdings
% Portfolio Weight
Market Value USD

T. Rowe Price Growth Stock Z


T. Rowe Price Value Z


T. Rowe Price Equity Index 500 Z


T. Rowe Price Overseas Stock Z


T. Rowe Price US Large-Cap Core Z


T. Rowe Price International Value Eq Z


T. Rowe Price International Stock Z


T. Rowe Price Real Assets Z


T. Rowe Price Mid-Cap Growth Z


T. Rowe Price Mid-Cap Value Z