Magellan Fund Magellan Fund was founded in 1963 and was originally named Fidelity International Fund. It was renamed Magellan Fund in March 1965.

Fidelity Magellan is the leader in the U.S. mutual fund industry. For a long time, it has been favored by the majority of investors relying on its good reputation and large scale.

This fund was initially managed by Fidelity President Ned Johnson and later operated by Peter Lynch.

During the 13 years Lynch managed Magellan, the average annual return rate reached 29%, which shocked the industry.