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It is never too late to invest in mutual funds for retirement. As such, if you plan to invest in some of the best funds, the Zacks Mutual Fund Rank can provide you with valuable guidance.

The easiest way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. Using the Zacks Mutual Fund 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.

Let's take a look at some of our top-ranked mutual funds with the lowest fees.

Fidelity Advisor Convertible Security Institutional (FICVX - Free Report): 0.76% expense ratio and 0.51% management fee. FICVX 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. With annual returns of 11.24% over the last five years, this fund is a winner.

Jensen Quality Growth Fund I (JENIX - Free Report) is a stand out amongst its peers. JENIX 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 the five-year annualized performance of 11.76%, expense ratio of 0.61% and management fee of 0.48%, this diversified fund is an attractive buy with a strong history of performance.

ProFunds Tech UltraSector Investor (TEPIX - Free Report): 1.48% expense ratio and 0.75% management fee. TEPIX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 16.65% over the last five years.

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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