Morningstar Fund Investor
Drawing the Line on Asset Bloat
7 November 2013
Every fund investor with gray hair knows the Icaruslike story of Fidelity Magellan FMAGX. It was brilliant, but, after Peter Lynch left, it was run by mere mortals even as its asset size soared ever higher. It was the biggest fund by far, and that proved its undoing. It has been a weak performer for nearly two decades, and it has fallen back to earth. The fund surpassed $100 billion, but today it’s a humbled 2-star fund with just $15 billion in assets… Read More: MS-FundInvestor-7Nov13.pdf