Boosted by the strategy of its new manager in the last two months of 2005, Fidelity's flagship Magellan fund returned 6.4% last year, The Boston Globe reports. In the first 10 months of the year, the fund was up a mere 1%, but since Harry Lange took over Magellan's helm, the fund rose by an impressive 5.4%.

The fund's total return of 6.4% in 2005 bested the S&P 500's 4.9% climb by 1.5 percentage points - the first time Magellan has beaten its benchmark since 2001.

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