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Rating:A Biz Paper Spotlights Magellan's Turnaround Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, June 5, 2009

A Biz Paper Spotlights Magellan's Turnaround

by: Kimberly Chin

The revamped Fidelity Magellan Fund, which re-opened last year, just gained the attention of Investor's Business Daily in a full profile article.

The fund has recently seen a big growth spurt, rising 46.17 percent in the past three months, and IBD's Paul Katzeff commended Magellan's manager, Harry Lange, for the turnaround.

Small changes can make a difference, Katzeff opines. He highlights Magellan's now-smaller size and its larger stake in gold stocks, which it can hedge against inflation, as factors contributing to the fund's success.

IBD also chronicles the fund's roots in the mid-1960s back to its first manager, Ned Johnson, Fidelity's current CEO and chairman. Star portfolio manager Peter Lynch has also managed the fund. 

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