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Magellan Chief Steps Down
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Ahoy, investors, (FMAGX Quote)Fidelity Magellan's captain is calling it quits.
The fund announced Monday the retirement of longtime portfolio manager Robert Stansky. According to Fidelity, veteran equity strategist Harry Lange will replace Stansky at the mammoth $52 billion fund.
A Fidelity representative said Stansky stepped down "to begin a new chapter in his life next year." Stansky has been at Fidelity for more than 22 years, including managing Magellan for nearly a decade. ...
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