Siddhesh Joshi (Editor)

Harry W Lange

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Nationality
  
American

Name
  
Harry Lange

Fields
  
Finance, Asset management



Born
  
February 25, 1952 (age 72) Gaylord, MI (
1952-02-25
)

Alma mater
  
Harvard University (MBA), 1983 Former manager of Magellan Fund General Motors Institute (B.A. - Mechanical Engineering), 1975

Known for
  
"Go-Anywhere, Buy-Anything" Investment Style Ballroom Dancing

Residence
  
Boston, Massachusetts, United States

Education
  
Kettering University, Harvard University

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.

Contents

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].

    • Citations

    The Power 30
    Fidelity Is Wild About Harry
    Magellan's New Skipper Changes Course
    A True Go-Anywhere Fund Harry Lange is more flexible
    Veteran Equity Manager Harry W. Lange to Take Reins of Fund
    Fidelity Magellan on Its New Course
    How Important Is Your Fund’s Manager?
    How to keep a keen ear for growth stories
    Fixing Fidelity

    References

    Harry W. Lange Wikipedia
    (Text) CC BY-SA