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We consider a functional semilinear Rayleigh-Stokes equation involving fractional derivative. Our aim is to analyze some circumstances, in those the global solvability and some results on asymptotic behavior of solutions take place. By establishing a new Halanay type inequality, we show the dissipativity and asymptotic stability of solutions to our problem. In addition, we prove the existence of a compact set of decay solutions by using local estimates and fixed point arguments.