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3 Magnificent Mutual Funds to Maximize Your Retirement Portfolio - August 24, 2020

If you're invested in any of the funds in our "Magnificent Retirement Mutual Funds" list, congratulations on owning some of the best managed and top-performing mutual funds. If you are lucky enough to discover our list of Top-Ranked Funds for the first time, it's never too late to start investing with the best, especially when it comes to 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 take a look at some of the highest Zacks Ranked mutual funds with the lowest fees.

Hartford Core Equity R3 (HGIRX): 1.08% expense ratio and 0.34% management fee. HGIRX is classified as a Large Cap Blend fund. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a "buy and hold" mindset. With annual returns of 10.04% over the last five years, this fund is a winner.

T. Rowe Price Institutional Mid-Cap Equity Growth (PMEGX). Expense ratio: 0.61%. Management fee: 0.6%. PMEGX 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 11.08% over the last five years.

MSIF Advantage Portfolio I (MPAIX). Expense ratio: 0.84%. Management fee: 0.65%. Five year annual return: 20.09%. MPAIX is a part of the Large Cap Growth mutual fund category, which invest in many large U.S. companies that are expected to grow much faster compared to other large-cap stocks.

These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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