Magellan Fund

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Description:
The Fidelity Magellan Fund () is a US-domiciled mutual fund from the Fidelity family of funds. It is perhaps the world’s best known actively managed mutual fund. On January 14, 2008, Fidelity announced that the fund would be re-opened to new investors for the first time in over a decade.

Managers



Fund performance



Although most people believe that Peter Lynch is the cornerstone of Magellan’s performance, and ultimately the growth in assets invested in the fund, the best annual return the fund ever had was in 1968 when it returned 116.08%. In fact, the best three year record the fund had happened before Peter Lynch was at the helm when it returned 68.32% between 1965 and 1967..

Morris Smith replaced Lynch the manager of Magellan. During the two years he was there he managed to beat the S&P 500 by 7%. He decided to leave investing entirely after his experience at Magellan and has spent time pursuing religious activities. Jeffrey Vinik spent four years managing Magellan and during that time he produced an 83.70% cumulative return and outperformed the cumulative S&P500 return by 5.91%. Vinik is most often remembered...
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