Is Fidelity Dropping ‘Star Manager’ System?
Is the practice of actively promoting “star” fund managers on the wane? Fidelity Investments, at least, appears to be trending in that direction.
Magellan Manager Steps Down
The manager of the struggling Fidelity Magellan Fund (FMAGX) has stepped down. Fidelity Investments announced on October 31 that Robert Stansky retired from the $52.4-billion fund,...