Fidelity Magellan returns down

Fidelity Magellan currently ranks as the ninth-largest fund at Magellan, with $17 billion in assets, a steep fall from 2000, when it was the world’s largest mutual fund at $110 billion in assets, according to Investor Place.
The mutual fund’s particularly had disappointing results during the past decade, posting an average annual return of 0.54 percent, Investor Place said. That trails the S&P 500’s 2.70 percent through the end of August.
Fidelity announced last month that Jeffrey Feingold would be replacing Harry Lange as manager of the fund, a move that Investor Place said “came as no great surprise.”
Since Lang took control of the fund in October 2005, Magellan’s posted a negative return, lagging 85 percent of its peers during the past five years. Assets shrank by $33 billion during Lange’s tenure, Investor Place said.