Fidelity Names Feingold to Succeed Lange at Magellan Fund
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Fidelity Investments named Jeffrey S. Feingold to run the $17.4 billion Magellan Fund, replacing Harry Lange who oversaw a two-thirds decline in assets in what was once the largest U.S. mutual fund.
Magellan trailed 85 percent of rival funds over the past five years and shrank in size by $33 billion during Lange’s almost six-year tenure, according to data compiled by Bloomberg. Feingold, 40, manages the $1.04 billion Fidelity Trend Fund, which beat 84 percent of competing funds over the past year.