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Strategies & Market Trends : Classic TA Workplace

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To: Shack who started this subject	10/16/2002 10:33:43 AM
From: rgjack	of 209892

This gives insight to the mutual fund situation: BOSTON (Dow Jones)--10/16/2002. Fidelity Investments' Magellan fund upped cash to 4.1% of the $53.5 billion fund in September from 1% at Aug. 31, continuing a rocky period for the one-time largest mutual fund. Year-to-date through Sept. 30, the fund lost 29%, hugging closely to its benchmark, the Standard & Poor's 500 stock index, which lost 28.2% in that period. Magellan has continued to shrink in size with assets of $53.5 billion at Sept. 30, down from $59.9 billion at July 31 - which was down 9% from the $65.9 billion at the end of the second quarter. The fund had $106 billion in assets at the end of 1999.

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