T. Rowe Price Retirement 2065 Fund R Class is a target-date mutual fund designed for investors planning to retire around 2065. Its objective is to deliver the highest total return over time with an emphasis on both capital growth and income, implemented through a diversified fund-of-funds approach managed by T. Rowe Price’s multi-asset team. The strategy follows a glide path that starts with a high allocation to equities to pursue long-term growth and gradually reduces equity exposure as the target date approaches, aiming for a neutral equity allocation of about 55% at the retirement year and continuing to decline for roughly three decades thereafter. The portfolio spans U.S. large-, mid-, and small-cap stocks, international developed and emerging markets, and a growing allocation to fixed income and inflation-sensitive assets, providing broad exposure across sectors and geographies. Positioned within T. Rowe Price’s retirement series, the fund plays a role as an all-in-one, age-based solution for workplace plans and individual accounts seeking professionally managed asset allocation over the full retirement lifecycle.
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