After lagging performance led to massive outflows from its flagship Magellan fund, Fidelity Investments is closing two other large funds to new investments before they too get unwieldy. The news, which the firm announced late last week, comes on the heels of its recent announcement that it would be also be closing the $63.8 billion Fidelity Contrafund, currently the company's largest, to new investments.

The two additional funds that will close are the $19.9 billion Fidelity Growth Company Fund and the $11.9 billion Fidelity Mid-Cap Stock Fund. All three funds will be closed to new investments, except for by existing shareholders or through 401(k) plans that already offer the funds on their menu of options, as of 4 p.m. EST on April 28.

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