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Fidelity ousts manager of struggling Magellan fund

Fidelity Investments on Tuesday said it is replacing the manager of its struggling Magellan fund, once the largest mutual fund in the world.

NEW YORK (AP) — Fidelity Investments on Tuesday said it is replacing the manager of its struggling Magellan fund, once the largest mutual fund in the world.

Jeffrey S. Feingold, manager of Boston-based Fidelity’s Trend fund and several others, will succeed Henry Lange, who led Magellan since 2005.

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