As Fidelity Investments turned 60, the fund giant again has cause for celebration. Recent efforts to overhaul its fund management-with new portfolio managers, more lenient investment mandates and a smattering of new funds-have paid off, boosting the performance of many of its funds to strong levels, The Boston Globe reports.

The flagship Fidelity Magellan Fund, for instance, is up 10.6% in the past 12 months, beating the 15.4% return of its benchmark, the S&P 500.

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