Fidelity Magellan Fund
Fidelity Magellan Fund is a celebrity mutual fund that seeks capital appreciation. FMAGX is one of the world's best known actively managed mutual fund, known particularly for its record-setting growth under Peter Lynch's management. The fund primarily invests in common stocks—both growth and value stocks. The fund relies on fundamental analysis of each issuer and its potential for success in light of its current financial condition, its industry position, and economic and market conditions. The adviser uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.
ABOUT FMAGX
FMAGX has a highly flexible mandate, investing globally and across all market capitalizations and styles.
The fund primarily invests in large-cap U.S. stocks, aiming for long-term capital appreciation. It has historically focused on growth stocks but can vary its holdings based on the manager's strategy.
The fund's investments often fall into one of three categories: fast growers, higher-quality growers and cheap with improving fundamentals.
The fund has returned 12.72 percent over the past year, 5.42 percent over the past three years, 10.25 percent over the past five years, and 10.82 percent over the past decade.
FUND PERFORMANCE
Early Years.
The fund was launched in 1963 and gained prominence under the management of Peter Lynch, which was marked by impressive performance.
1980s Peak.
During the 1980s, under Peter Lynch's management, the Fidelity Magellan Fund became the largest mutual fund in the world. His approach focused on investing in growth stocks and taking advantage of market opportunities.
Post-Lynch Era.
After Peter Lynch retired in 1990, the fund saw a succession of managers. The performance during this period varied, reflecting changes in market conditions, investment strategies, and management styles.
Performance Metrics.
The fund's performance has been influenced by factors such as market cycles, economic conditions, and the investment decisions of its managers.