T. Rowe to cut target-date fees, add fund line
The firm is reducing fees and is adding a mutual fund version of its Retirement Blend series, which has existed since 2018 in CIT form.
May 24, 2021
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The third-largest target-date mutual fund provider, T. Rowe Price Group Inc., is lowering fees across its product line, according to filings made Monday with the SEC.
The cuts will result in an average decrease in fees of 6.3 basis points among its mutual funds and 4.8 bps for its collective investment trusts, on an asset-weighted basis, the firm announced in connection with the filings.
T. Rowe is also adding a mutual fund version of its Retirement Blend series, which has existed since 2018 as a collective investment trust. That series invests in a mix of actively managed and passively managed underlying investments.