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Magellan reopens, seeks younger investors
Investors have the option of buying Magellan for the first time in more than a decade. Fidelity is reopening its $45 billion Magellan Fund today. Magellan beat more than 80 percent of rival funds last year, but it's getting lean as many baby boomer investors are starting to tap into retirement cash. To help Magellan grow again, reports say Fidelity will go after younger investors. The fund helped drive Fidelity's rapid growth in the 80s and 90s. It was closed to new accounts in September 19-97.
Posted on January 15, 2008 5:14 AM PT | Permalink
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