After underperforming its benchmark and losing two-thirds of its assets under the watch of Harry Lange, the Fidelity Magellan Fund has a new manager. Jeffrey S. Feingold is now running the $17.4 billion fund.

When Lange took over the flagship fund nearly six years ago, Magellan had nearly $50 billion in assets under management, and throughout this time, Magellan has trailed 85% of its peers.

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