HOW TO HANDLE $57 BILLION

EXCLUSIVE: FIDELITY'S ROBERT STANSKY EXPLAINS HIS STRATEGY FOR GETTING THE MAGELLAN FUND BACK ON TOP

Since taking over Fidelity Investments' struggling Magellan fund last June, Robert Stansky has been the most watched man in mutual funds. Magellan, with $54.7 billion in assets, is the biggest fund in the U.S. Stansky is trying to revive not only Magellan but also with it Fidelity's tarnished reputation as a money manager. He is making progress. Magellan's year-to-date return of 13% is better than that of 56% of its rivals but still trails major stock indexes. He talked recently with TIME'S Sam Allis.

TIME: The stock market has been all over the place lately. How nervous should we be?

Stansky:...

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