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3 Great Mutual Fund Picks for Your Retirement - September 18, 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.

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.

Here are the funds that have achieved the #1 (Strong Buy) Zacks Rank and have low fees.

Harbor Capital Appreciation Institutional (HACAX): 0.66% expense ratio and 0.6% management fee. HACAX is a Large Cap Growth option; these mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. HACAX has achieved five-year annual returns of an astounding 16.62%.

AllianzGI Convertible Fund P (ANCMX): 0.7% expense ratio and 0.57% management fee. ANCMX is categorized as a Convertible Bonds fund, and in the fixed income world, these funds are quite unique. These types of securities are a hybrid, meaning they have components of both fixed income and equity. ANCMX, with annual returns of 10.71% over the last five years, is a well-diversified fund with a long track record of success.

Fidelity Growth Strategies Fund K (FAGKX). Expense ratio: 0.52%. Management fee: 0.35%. Five year annual return: 10.11%. FAGKX is an All Cap Growth mutual fund investing in a wide variety of equities, no matter the size of the company and as long as the firm exhibits growth characteristics.

We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.

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