Fidelity’s Magellan Fund will have new director

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Fidelity Investments named Jeffrey S. Feingold to run the $17.4 billion Magellan Fund, replacing Harry Lange.

Magellan trailed 85 percent of rival funds over the past five years and shrank in size by 66 percent during Lange’s almost six-year tenure, according to data compiled by Bloomberg. Feingold, 40, manages the $1.04 billion Fidelity Trend Fund, which has beat 84 percent of competing funds over the last year.

Full story: Fidelity Names Feingold to Run Magellan Fund