Peter Lynch Magellan

About Peter Lynch Magellan

Peter Lynch managed the Fidelity Magellan Fund from 1977 to 1990, averaging 29.2 percent annually, the best 13 year record in mutual fund history. Under Lynch, Magellan grew from 18 million to 14 billion, becoming the largest mutual fund in the world. Lynch coined invest in what you know, encouraging individual investors to observe products and brands in daily life. His books One Up on Wall Street and Beating the Street were bestsellers. Lynch retired at 46, saying he wanted to spend time with his family. His record demonstrated that exceptional active management was possible but extraordinarily difficult to sustain. No mutual fund manager has matched his 13 year record since.