Global Fund RPGAX
(RPGAX) Not global "equity"
I agree with both of you. T. Rowe classifies RPGAX as an "allocation fund". They offer a great many diverse funds under that category - and I've owned a few, including RPGAX which I purchased almost at inception.
But one could certainly view it as a very conservative global fund. I'm not sure what
@ep1 is really looking for, or what his/her needs and expectations are. But, possibly he's interested in something with global exposure that won't give too wild a ride. As badly as the U.S. domestic funds performed in '07-'09, the global and international funds did about 10% worse on average - many falling more than
50% peak to bottom.
Here's Fidelity's take on the terms "global" and "international:
"... international stock funds primarily invest in companies outside of the U.S. Global stock funds have the ability to search for investments in both U.S. and non-U.S. companies".
https://www.fidelity.com/learning-center/investment-products/mutual-funds/what-are-international-global-stock-fundsThat said, the two terms are often used interchangeably by many here (and probably in the press). My motto is to read the annual and semi-annual fund reports and make your determination based on what the fund typically invests in. I'm not recommending RPGAX (perhaps best described as a "balanced fund with international and domestic exposure") because it doesn't fit the strict definition of
global fund. But, I wouldn't be too hard on
@Crash for throwing it out there for consideration.
Maybe
@ep1 would clarify what his/her purpose is in seeking out a global fund. Does he own another one that has not met expectations? Is he a new investor and very young individual seeking maximum growth potential over a 30-40 year time horizon? Is he frightened by the U.S. markets for some reason and seeking to invest outside the U.S.? Or, perhaps, is he seeking advise to pass on to a family member? (These things do matter.)