T. Rowe Price Retirement Balanced Fund (TRRIX)
Ticker Symbol:
TRRIX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  May
Morningstar Category  Allocation--30% to 50% Equity
Inception Date 09/30/2002
Tax ID 56-2294396
Investment Objective
The objective is to provide the highest total return over time consistent with an emphasis on both capital growth and income.
Strategy
Invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. The fund’s “neutral allocations,” which are what T. Rowe Price considers broadly appropriate for investors seeking a static asset allocation during their retirement years, are 40% stock funds and 60% bond funds.

These allocations are intended to provide lower market risk for investors desiring lower portfolio volatility near retirement. Investors should be aware that the Retirement Balanced Fund is static at 40% neutral equity allocation and does not change that allocation over time. As such, an investor may want to consider a higher or lower equity allocation as their age and specific stage of retirement change. The fund is designed to be part of an investor’s overall retirement strategy, but is not intended as a complete solution to an investor’s retirement needs.

While the overall asset mix generally remains consistent over time, tactical decisions may be made by T. Rowe Price to overweight or underweight a particular asset class or sector based on its market outlook. The target allocations assigned to the broad asset classes (stocks and bonds), which reflect these strategic decisions resulting from market outlook, are not expected to vary from the neutral allocations by more than plus (+) or minus (-) five (5) percentage points at the asset class level.
Risk/Reward Potential**
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This fund provides a simplified option for retirement investing, including professional management, broad-based diversification, and low-cost management fees. As with any mutual fund, there is no guarantee that the fund will achieve its objective. Further, there is no guarantee that the fund will provide adequate income at and through retirement.

The principal value of the Retirement Balanced Fund is not guaranteed at any time. The fund invests in a broad range of underlying mutual funds that include stocks, bonds, and short-term investments and is subject to the risks of different areas of the market.

In general, the stock portion of the portfolio is subject to market risk, or falling share prices. The bond portion is affected by interest rate and credit risk.
**This chart displays relative risk of each U.S. mutual fund listed using standard deviation of returns. Those values are provided in the bars at the top of the chart.

Methodology: We evaluate the standard deviation and its resulting placement within a specific risk/return category on an annual basis. A fund is generally placed in a risk/return category based on the 10-year standard deviation of its performance. If a fund is less than 10 years old, the actual fund performance history is supplemented with the primary prospectus benchmark history to obtain a full 10-year history, or longest time period available up to 10 years. For an Asset Allocation fund with less than 10 years of performance history, sub-strategy returns are used. When a sub-strategy is less than 10 years old, the actual sub-strategy performance history is supplemented with benchmark history to obtain a full 10-year history, or longest time period available up to 10 years.

Risk return categories overlap; a fund with a standard deviation in the overlap between two categories, denoted by a plus (+), is placed so that its risk categorization is better aligned with anticipated return characteristics an investor may experience going forward at the discretion of T Rowe Price.

When a fund has a cash-like benchmark, denoted by a double plus (++), its standard deviation is estimated using only available fund returns. If the fund is less than 10 years old, benchmark returns are not used to obtain a full 10-year history because they would artificially suppress the volatility estimate.

All investments are subject to market risk, including the possible loss of principal. Standard deviation of returns, a measure of price volatility, is one measure of risk. Please consult the funds' prospectuses for a more complete discussion of the funds' risks.
See Glossary for additional details on all data elements.