The funds in our "Magnificent Retirement Mutual Funds" list are among the best managed and best performing mutual funds available. If you are just finding out about our Top-Ranked Funds list, we welcome you!

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.

Lord Abbett Convertible Fund P (LCFPX Quick QuoteLCFPX - Free Report) has a 1.33% expense ratio and 0.7% management fee. LCFPX is a Convertible Bonds fund, which are unique investment opportunities because they have both fixed income and equity components, making them hybrid securities. With yearly returns of 10.53% over the last five years, this fund clearly wins.

Hartford Core Equity R3 (HGIRX Quick QuoteHGIRX - Free Report) . Expense ratio: 1.08%. Management fee: 0.34%. HGIRX is classified as a Large Cap Blend fund. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a "buy and hold" mindset. This fund has managed to produce a robust 10.04% over the last five years.

MFS Growth Fund R3 (MFEHX Quick QuoteMFEHX - Free Report) : 0.88% expense ratio and 0.54% management fee. MFEHX 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. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 16.32% 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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