Morningstar does not publish an Analyst Report for VAFAX. Click here to view our coverage.
Morningstar analysts cover more than 1,700 mutual funds. Below is a sample Analyst Report for another
fund, FMAGX.

Fund Research and Analysis

by Katie Rushkewicz Reichart, CFA
Fidelity Magellan has started moving in the right direction during manager Jeff Feingold's four-year tenure, but for now it retains its Morningstar Analyst Rating of Neutral as it continues to show how its process fares in various market environments.  Read more 

Process Pillar:Neutral

Like many Fidelity managers, Jeff Feingold focuses on firms that can quickly increase their earnings. Beyond the analysts' fundamental research, he uses a quantitative model that looks at metrics such   Read more 

Performance Pillar:Neutral

Manager Jeff Feingold, who took over in September 2011, is not responsible for this fund's poor long-term record, which includes a bottom-decile category ranking for the trailing 10-year period through   Read more 

People Pillar:Positive

Magellan's past few managers have failed in returning the fund to its glory days under Peter Lynch. Jeff Feingold is the latest to attempt the feat, taking over for Harry Lange in September 2011. Feingold brings a wealth of experience to the post. He   Read more 

Price Pillar:Positive

This fund's expense ratio can fluctuate because of a performance-fee adjustment, which is based on the fund's three-year return versus the S&P 500 (for every percentage point of out- or underperformance,  Read more 

Fidelity Delving Into Private Companies 
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