Magellan Fund
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The Magellan Fund (ticker symbol: FMAGX), a U.S. domiciled mutual fund from the Fidelity family of funds, is one of the largest in the United States. Under Peter Lynch's management from 1977 to 1990, returns from the fund consistently beat stock market benchmarks such as the S&P 500, averaging 29% annualized. Since Lynch's retirement, returns have been far more modest under what industry observers deemed to be conservative investment strategies as well as poor securities selection. Despite underperforming the market, the fund continues to appear on the retirement plans, such as 401(k), offered by a large number of organizations. As of the end of 2005, the fund manager is Harry Lange and it has $51 billion in assets. It is closed to new investors.
[edit] References
- Gross, Daniel (Nov. 10, 2005). "The Big Money". Slate.
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