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) 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). 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). 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.
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