Joel Tillinghast, Fidelity’s Legendary Fund Manager (2024)

FAQs

Who is the most famous Fidelity fund manager? ›

Peter Lynch is one of the most successful investors in history. Lynch's love for investing began in his early years working as a caddy. At age 33, Peter Lynch was appointed to manage the legendary Magellan Fund at Fidelity.

Joel Tillinghast retired from Fidelity on December 31, 2023 after a 30-plus year legendary stock-picking career. He will remain a mentor and advisor to the Fidelity Investing team.

He has been a mutual fund manager in the equity division at Fidelity Investments since the 1980s. Tillinghast launched Fidelity's Low-Priced Stock (FLPSX) in 1989, and has trounced the averages ever since. Since inception, FLPSX has annually beaten the S&P 500 by over 3% and the Russell 2000 by over 4%.

Fidelity offers a wide range of investment options, including stocks, bonds, and mutual funds. We manage an account consisting of zero expense ratio Fidelity mutual funds for you. No minimum to open a retail brokerage account ¹ and invest on your own. No minimum to open an account.

Fidelity Investments, one of the largest administrators of workplace plans, said it had 422,000 401(k) millionaires at the end of 2023, a nearly 21 percent increase from the third quarter.

Key Morningstar Metrics for Fidelity Contrafund

The fund's roughly 13% annualized gain over the past decade beat the S&P 500 (the fund's broad-market prospectus benchmark) and ranked among the best-performing third of funds in either the large-blend or large-growth Morningstar Categories.

Unsurprisingly, the majority do not beat those benchmarks, and even the ones who do don't keep their lead for long. Over its 23-year history, the SPIVA report shows that, on average, 64% of active large-cap fund managers fare worse than their benchmark (the S&P 500) in any given year.

Overall, Fidelity Contrafund ( FCNTX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.

The founding Johnson family, individually and through various trusts, owns stock representing a 49% voting interest in FMR, and have signed agreements pledging to vote all their shares as a bloc. Edward Johnson III was chairman of the group, but was replaced by his daughter, Abigail Johnson.

Who can beat the S&P 500? ›

Yes, you may be able to beat the market, but with investment fees, taxes, and human emotion working against you, you're more likely to do so through luck than skill. If you can merely match the S&P 500, minus a small fee, you'll be doing better than most investors.

Protecting your assets

With our Customer Protection Guarantee, we reimburse you for losses from unauthorized activity in your accounts. We also participate in asset protection programs such as FDIC and SIPC to help provide the best service possible. See our protection guarantee and account coverage.

Key Takeaways. If a brokerage fails, another financial firm may agree to buy the firm's assets and accounts will be transferred to the new custodian with little interruption. The government also provides insurance, known as SIPC coverage, on up to $500,000 of securities or $250,000 of cash held at a brokerage firm.

Abigail P. Johnson is Chairman and Chief Executive Officer of Fidelity Investments, a…