Our "Magnificent Retirement Mutual Funds" list includes some of the best managed and best performing funds around. If you're already invested in these, congratulations! But if you're just now discovering them, don't worry. When it comes to your retirement, it's never too late to start investing in the best.

Great performance, diversification, and low fees: it's a pretty simple formula for a great mutual fund. Some are better than others, but utilizing our Zacks Rank, we have identified three mutual funds that would make great additions to long-term investors' portfolios.

Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.

AB Discovery Growth R (CHCRX Quick QuoteCHCRX - Free Report) : 1.39% expense ratio and 0.61% management fee. CHCRX 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. With annual returns of 12% over the last five years, this fund is a winner.

JPMorgan Intrepid Growth Fund A (JIGAX Quick QuoteJIGAX - Free Report) . Expense ratio: 0.84%. Management fee: 0.3%. JIGAX 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. This fund has managed to produce a robust 11.42% over the last five years.

Victory RS Global Growth R (RGGKX Quick QuoteRGGKX - Free Report) . Expense ratio: 1.1%. Management fee: 0.8%. Five year annual return: 12.92%. RGGKX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations.

There you have it. If your financial advisor had you put your money into any of our "Magnificent Retirement Mutual Funds," then they've got you covered. If not, you may need to talk.

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.