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3 Top-Ranked Mutual Funds for Your Retirement - July 24, 2020

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The funds in our "Magnificent Retirement Mutual Funds" list are some of the top-performing, best managed funds available. If you're already invested in them, congratulations! If you're not, don't worry - it's never too late to start getting the advantages of these outstanding funds for your retirement.

How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using our Zacks Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.

Let's break down some of the mutual funds with the highest Zacks Rank and the lowest fees.

Great-West Multi Manager Large Cap Growth (MXLGX - Free Report) has a 1% expense ratio and 0.64% management fee. MXLGX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. With yearly returns of 15.24% over the last five years, this fund clearly wins.

T. Rowe Price Mid-Cap Growth Adviser (PAMCX - Free Report) . Expense ratio: 1.03%. Management fee: 0.61%. PAMCX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. This fund has managed to produce a robust 10.34% over the last five years.

AllianzGI Convertible Fund Admiral (ANNAX - Free Report) . Expense ratio: 0.91%. Management fee: 0.57%. Five year annual return: 10.48%. ANNAX is a Convertible Bonds mutual fund, and these funds are unique in the fixed income world; these securities have components of both fixed income and equity, making them hybrid securities.

So, there you have it - if your advisor has you invested in any of our "Magnificent Retirement Mutual Funds," they are certainly earning their keep. If not, you may want to look elsewhere.

Do You Know the Top 9 Retirement Investing Mistakes?

Investing in underperforming mutual funds is just one of the key errors that can derail your retirement plans.

To learn more, read our just-released report: 9 Retirement Mistakes You Need to Avoid.

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