Investors pulled approximately $1 billion from The Magellan Fund (FMAGX), Fidelity's flagship fund, according to an article in The Wall Street Journal. These redemptions occurred during the month of July. In fact, July 2002 was the biggest month for redemptions in the fund's 39 year history. Further, the fund lost its position as the largest stock or bond fund in the nation. That honor has now held by the Pimco Total Return Fund (PTTAX). 

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