Peter Lynch boasts of one of the greatest investing track records of all time, while serving as the portfolio manager of Fidelity’s Magellan Fund from 1977 to 1990. When Lynch became Magellan’s manager in 1977, the fund had $20 million in assets. His strong track record drew investors at a rapid rate, and by 1983 the fund’s assets topped $1 billion. It went on to become the largest mutual fund in the U.S. with $13 billion in assets. No one else had managed such a big fund with so much success.
Over the 13 years of him at the job, the fund delivered an annualized return of 29%. Check out the performance of the fund if you had invested just $1 in the fund –