Fidelity Magellan Echoes Glory Days by Trouncing Benchmark
- Fund Lynch made famous is beating S&P and 95% of peers in 2020
- Stock-pickers show signs of life in era of passive dominance
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The stock-pickers are shining again at Fidelity Investments.
Fidelity Magellan, the mutual fund made famous in the 1980s by Peter Lynch, is trouncing its benchmark and peer group this year. Magellan returned 6% through Wednesday while the S&P 500 index lost 2.5% with dividends reinvested. The $19 billion fund was beating 95% of its competition as of Tuesday, according to data compiled by Bloomberg.