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Fund Times

Fund Times: Openings, Closings & Manager Changes

Pimco, Fidelity, Janus, Heartland, American Express, Westcott, Putnam, others.

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Honey, I Shrunk the Assets
The mutual fund industry's largest actively managed offering is now a bond fund, according to Morningstar's database.

Turbulent stock markets and a strong shift of shareholders from equity to bond funds have drastically reduced the assets of large-cap blend offering Fidelity Magellan (FMAGX) and augmented the coffers of intermediate-term bond fund Pimco Total Return (PTRAX). In July Pimco Total Return stole Magellan's title as the largest actively managed mutual fund and second largest mutual fund of any type.

Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.