Peter Lynch retires; Magellan's skipper quits while he's at the top; 'I've tried to act like an amateur'
March 29, 1990
<BODY>
For 1 million investors in Fidelity Magellan Fund, the day they knew would arrive some day came Wednesday. Legendary fund manager Peter Lynch announced he is leaving Magellan Fund and Fidelity Investments May 31.
<HEADER:A260691>
An eye for stock funds; Funds surge as investors take long view
May 17, 1990
<BODY>
Mutual fund investors haven't reacted to the recent stock market rally by suddenly pouring tons of cash into stock mutual funds. But then, they haven't had to.
They've been flooding stock funds with money since spring 1989, despite lackluster - and occasionally scary - stock market performance. That bizarre behavior could be just a phase. But more likely, it's the beginning of something big - a sea change in attitudes toward investing that will continue for the rest of the decade and perhaps beyond.
<HEADER:A319288>
Magellan's new star; Manager's picks make him stand out from the crowd; Morris Smith remakes mutual fund
Apr. 5, 1991
<BODY>
Boston-based Fidelity Investments made an announcement one year ago that stunned the investment world: At age 46, Peter Lynch was retiring as manager of Fidelity Magellan Fund, the USA's largest and most successful stock fund. Taking his place: an unknown from Fidelity's bullpen - 32-year-old Morris Smith.
<HEADER:A338051>
Magellan full speed ahead with new skipper
Sept. 17, 1991
<BODY>
Guiding the USA's largest stock mutual fund is supposed to be like steering a blimp.
Morris Smith has it soaring like a fighter jet.
Smith is the money manager Fidelity Investments tapped to run Fidelity Magellan Fund when legendary Peter Lynch retired in May 1990.
<HEADER:A361495>
New rush to stock funds; Investors say risk pays off in long term
Apr. 13, 1992
<BODY>
Money is pouring into stock mutual funds like waves over a ship's gunwales.
The funds are taking in $43 million every business hour of every business day. That's an average $7.2 billion a month from December through February, the latest figure available. During the same period a year earlier, the inflow averaged $1.3 billion a month. Fund managers say investors have kept the pace since February.
<HEADER:A365867>
Mutual funds grow sky-high; Limits of CDs, stocks fuel flight to funds
Sept. 20, 1992
<BODY>
WASHINGTON - Mario Gabelli has a stock-picking record that puts him among the very best on Wall Street. But one of his best investments will never be toted on the Big Board.
Gabelli spent just $29,000 in advertising to launch the Gabelli Small Cap Growth Fund in October - peanuts in the world of mutual-fund advertising. Within five months, the fund had $60 million in assets and 12,000 shareholders. It is a story repeated throughout the fund industry the past year: A volcanic stock market and subterranean certificate-of-deposit yields have shot fund assets to $1.4 trillion - an all-time high.
