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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.
At the end of last year, 65% of Fidelity's funds had beaten their peers during the year, up from 50% in 2004.
And analysts expect more of Fidelity's funds to outpace their benchmarks this year. "It has all been good news," said John Bonnanzio, group editor at Fidelity Insight. "One thing you have to say about Fidelity is that they are not afraid of change and that they are constantly assessing themselves," noted
Flows have also been improving, with the company taking in a net $3.85 billion in March, compared to $481 million a year earlier.
Still, flows to