Mutual funds with the objective of “growth” seek long-term growth by investing in common stocks. These growth oriented funds also often look for income as a secondary objective.

Investors can find such funds by checking out the Zacks #1 Rank Growth Mutual Funds list.

3 Solid Picks

Paradigm Capital Appreciation (PVCAX) seeks long-term capital appreciation, investing mainly in common stocks of mid-cap companies. The fund may invest in exchange traded funds (ETFs) that invest in mid capitalization companies when investment opportunities are limited, pending selection of individual securities, or for temporary purposes.

The fund’s top 10 holdings include Helmerich & Payne, Inc. (HP), Joy global (JOYG) and Invitrogen (IVGN). PVCAX’s turnover ratio is 40%. The fund’s largest allocation is in the Techonology sector, followed by the Industrial Sector and Health sectors.

Morris Ajzenman, CFA and Senior Vice President, is the portfolio manager of the Capital Appreciation Fund. Previously, Ajzenman was employed by Punk, Ziegel & Company, where he was a senior portfolio manager and analyst. Prior to that, he was a senior portfolio manager and analyst for Lazard Asset Management.

Reynolds Blue Chip Growth Fund (RBCGX) has the objective of long-term capital appreciation and, to a lesser extent, current income. The fund invests in domestic common stocks, primarily blue chips. In seeking to achieve its secondary objective of current income, the fund invests in dividend-paying common stocks. Dividends and capital gains are distributed annually.

The fund is managed by the sole proprietor of Reynolds Capital Management, Frederick L. Reynolds, since Aug 88. Reynolds’ previous positions included being a general partner with Robertson, Coleman and Siebel Montgomery Securities as well as a portfolio manager and analyst with American Express.

Individuals can purchase shares of this fund with a minimum initial investment of $1000. Subsequent minimum investments are $100.

Discover Many More Funds

Learn more about the new Zacks Mutual Fund Rank and discover some of the best market-beating mutual funds by browsing our new mutual funds section. This part of Zacks.com offers a variety of tools, including mutual fund research, a new mutual fund screener, helpful answers to frequently asked questions and quick access to prospectuses and other information.

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward.

Zacks Investment Research

Last 5 posts by Alex Kolb

• Coach, Inc. - Growth And Income - Zacks Rank Buy - November 23rd, 2009
• Crane Co. - Growth And Income - Zacks Rank Buy - November 20th, 2009
• Gap Inc. - Growth And Income - Zacks Rank Buy - November 19th, 2009
• Costco Wholesale Corporation - Growth And Income - Zacks Rank Buy - November 18th, 2009
• Casey's General Stores - Growth And Income - Zacks Rank Buy - November 17th, 2009