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.
The easiest way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. Using our Zacks Rank of over 19,000 mutual funds, we've identified three outstanding mutual funds that are ideally suited to help long-term investors pursue and achieve their retirement investing goals.
Here are the funds that have achieved the #1 (Strong Buy) Zacks Rank and have low fees.
T. Rowe Price New America Growth (PRWAX): 0.78% expense ratio and 0.64% management fee. PRWAX 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. With annual returns of 16.54% over the last five years, this fund is a winner.
MFS Mid-Cap Growth Fund I (OTCIX) is a stand out amongst its peers. OTCIX 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 five-year annualized performance of 13.78%, expense ratio of 0.8% and management fee of 0.69%, this diversified fund is an attractive buy with a strong history of performance.
AllianzGI Convertible Fund Admiral (ANNAX): 0.91% expense ratio and 0.57% management fee. ANNAX 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. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 10.48% over the last five years.
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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