Harry W. Lange
Encyclopedia
Harry W. Lange is a Boston-based investment manager. He was, until recently (September 13, 2011), the portfolio manager for the Magellan Fund
and is a Vice President at Fidelity Investments
.
, Lange worked for Idanta partners (the Bass Brothers VC firm). He then moved to Wellington Management Company. After four years there Lange left and joined Fidelity Investments as a research analyst covering the photography, office-products and machinery on Black Monday (1987)
http://money.cnn.com/2005/11/14/funds/lange_fortune/index.htm.
Nearly 20 years into his career at Fidelity, Lange was tapped to manage The Magellan Fund.
On September 13, 2011, CNBC reported: Fidelity Investments Fired Harry Lange as Portfolio Manager of Its Famed Magellan Fund.
in October, 2005. During the first year of his reign, he realigned the fund to reflect his personal stock selection. The net result was an initial capital gains distribution that was just over $22 in 2006. Magellan began to outperform the S&P500 in 2007 and was upgraded to a four star mutual fund by Morningstar in July, 2007. However, performance since then has lagged the S&P index, and as a result, Magellan is currently ranked as a one-star fund by Morningstar.
On September 13, 2011, Fidelity announced that Lange would no longer manage the Fidelity Magellan Fund. The baton was passed to Jeffrey S. Feingold, the manager of the (relatively) smaller Fidelity Trend Fund ..
Fidelity Is Wild About Harry
Magellan's New Skipper Changes Course
A True Go-Anywhere Fund Harry Lange is more flexible
Veteran Equity Manager Harry W. Lange to Take Reins of Fund
Fidelity Magellan on Its New Course
How Important Is Your Fund’s Manager?
How to keep a keen ear for growth stories
Fixing Fidelity
Magellan Fund
The Fidelity Magellan Fund is a US-domiciled mutual fund from the Fidelity family of funds. It is perhaps the world’s best known actively managed mutual fund...
and is a Vice President at Fidelity Investments
Fidelity Investments
FMR LLC or Fidelity Investments is an American multinational financial services corporation one of the largest mutual fund and financial services groups in the world. It was founded in 1946 and serves North American investors. Fidelity Ventures is its venture capital arm...
.
Investment Experience
After earning his MBA at Harvard UniversityHarvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
, Lange worked for Idanta partners (the Bass Brothers VC firm). He then moved to Wellington Management Company. After four years there Lange left and joined Fidelity Investments as a research analyst covering the photography, office-products and machinery on Black Monday (1987)
Black Monday (1987)
In finance, Black Monday refers to Monday October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin...
http://money.cnn.com/2005/11/14/funds/lange_fortune/index.htm.
Nearly 20 years into his career at Fidelity, Lange was tapped to manage The Magellan Fund.
| Name of Fund | Period Managed | Assets Under Management |
|---|---|---|
| Select Industrial | 1987–1996 | US$135 million |
| Select Machinery | 1987–1996 | US$65 million |
| Capital Appreciation | 1996–2005 | US$9 billion |
| Magellan Fund | 2005–2011 | US$50 Billion |
On September 13, 2011, CNBC reported: Fidelity Investments Fired Harry Lange as Portfolio Manager of Its Famed Magellan Fund.
Managing Magellan
Lange began managing Fidelity's Magellan FundMagellan Fund
The Fidelity Magellan Fund is a US-domiciled mutual fund from the Fidelity family of funds. It is perhaps the world’s best known actively managed mutual fund...
in October, 2005. During the first year of his reign, he realigned the fund to reflect his personal stock selection. The net result was an initial capital gains distribution that was just over $22 in 2006. Magellan began to outperform the S&P500 in 2007 and was upgraded to a four star mutual fund by Morningstar in July, 2007. However, performance since then has lagged the S&P index, and as a result, Magellan is currently ranked as a one-star fund by Morningstar.
On September 13, 2011, Fidelity announced that Lange would no longer manage the Fidelity Magellan Fund. The baton was passed to Jeffrey S. Feingold, the manager of the (relatively) smaller Fidelity Trend Fund ..
Personal life
- Lange's introduction to finance came when his father, the former Otsego CountyOtsego County, Michigan-Demographics:As of the census of 2000, there were 23,301 people, 8,995 households, and 6,539 families residing in the county. The population density was 45 people per square mile . There were 13,375 housing units at an average density of 26 per square mile...
treasurer and High School math teacher, brought him to an investment club meeting when he was 8 years old. - He is an accomplished ballroom dancer and competes throughout the United States.
- Lange is divorced, has three children, and resides in Boston, MA.
Citations
The Power 30Fidelity Is Wild About Harry
Magellan's New Skipper Changes Course
A True Go-Anywhere Fund Harry Lange is more flexible
Veteran Equity Manager Harry W. Lange to Take Reins of Fund
Fidelity Magellan on Its New Course
How Important Is Your Fund’s Manager?
How to keep a keen ear for growth stories
Fixing Fidelity