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Monday, July 30, 2007|
Magellan Makes Magic, Again
Fidelity's flagship Magellan fund is rebounding in Morningstar's rankings. Investor's Business Daily reports the fund was ranked No. 20 out of 25 for Morningstar's ratings of the 25 largest stock funds for the trailing 12 months ended when current manager, Harry Lange, took the reigns from Robert Stansky in October 2005. Magellan is now ranked No. 7 out of the 25 largest stock funds, generating a 12.4 percent gain so far this year. Lange has made the fund more growth oriented than in Stansky's day.
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