Harry W. Lange (born February 25, 1952 in Gaylord, MI) 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.
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Investment experience
After earning his MBA at Harvard University, 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).
Nearly 20 years into his career at Fidelity, Lange was tapped to manage The Magellan Fund.
Managing Magellan
Lange began managing Fidelity's 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 two-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 County treasurer and High School math teacher, brought him to an investment club meeting when he was 8 years old.
- Lange is married to Hiroko Sahara, has three children (Sarah Lange, Joshua Lange and Julia Lange), and resides in Miami Beach, FL.
- Lange currently is the major shareholder of Hedonism Resorts (Hedonsism II), a resort located on Negril Beach Jamaica.[1].
Source of the article : Wikipedia
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