Magellan is Open!

Interesting news for investors--Fidelity's Magellan Fund, the flagship fund of the mutual fund industry that has been closed to new investors since 1997, has once again opened the fund to newbies. The reason--many of the investors who crowded into Magellan years ago--and forced its closure out of fear that the fund would become too big to manage--have retired, taking their nesteggs with them. Reports hold that an influx of new investors will allow Magellan management to move a greater share of its portfolio into growth stocks and international holdings.


Jeff