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There is never a wrong time to invest in mutual funds for retirement. So, if you're still looking for the best mutual funds, the Zacks Mutual Fund Rank can be a great guide.

The best way to shortlist great mutual funds is to ensure solid performance, diversification, and low fees. Some are better than others, but utilizing the Zacks Mutual Fund Rank, we have identified three mutual funds that could be solid additions to one's retirement portfolio.

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

• Fidelity Convertible Securities (FCVSX - Free Report) has a 0.72% expense ratio and 0.55% management fee. FCVSX 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 yearly returns of 11.85% over the last five years, this fund clearly wins its high ranking.
• Ivy Large Cap Growth N (ILGRX - Free Report) has a 0.64% expense ratio and 0.6% management fee. ILGRX 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. ILGRX, with annual returns of 11.46% over the last five years, is a well-diversified fund with a long track record of success.

These two 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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