The Magellan Fund was a mutual fund managed by Fidelity Investments. It was one of the first actively managed mutual funds and was launched in 1963. The fund was managed by Peter Lynch, who is widely regarded as one of the most successful mutual fund managers of all time.
The Magellan Fund was a growth fund, which means that it focused on investing in companies with strong growth prospects. Lynch's investment philosophy was to identify companies that had strong fundamentals and were undervalued by the market, and then hold them for the long term.
During Lynch's tenure as manager of the Magellan Fund, from 1977 to 1990, the fund outperformed the market significantly, with an average annual return of 29.2%. This performance made the Magellan Fund one of the most successful mutual funds of all time and Lynch a legend in the investment world.
The Magellan Fund was closed to new investors in 1997 and was eventually merged into other funds. However, its legacy lives on, and Lynch's investment strategies and philosophies continue to be widely studied and admired by investors and investment professionals.
In summary, the Magellan Fund was a mutual fund managed by Fidelity Investments, it was one of the first actively managed mutual funds, it was launched in 1963, managed by Peter Lynch, it was a growth fund that focus on investing in companies with strong growth prospects, Lynch's investment philosophy was to identify companies that had strong fundamentals and were undervalued by the market, and then hold them for the long term, during Lynch's tenure as manager of the Magellan Fund, from 1977 to 1990, the fund outperformed the market significantly, and became one of the most successful mutual funds of all time.
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