The Morningstar team just gave "neutral" ratings to two former star mutual funds: Fidelity Magellan [profile] and Legg Mason Capital Management Value [profile]. Russel Kinnel, Morningstar's director of mutual fund research, elaborates on the ratings and urges investors to "keep an open mind" but "for now keep your wallet closed" to the new PMs running the two mutual funds.

Sam Peters took over Legg Mason Capital Management Value from fallen star Bill Miller, while Jeff Feingold holds the Magellan reins once held by Peter Lynch. 

Edited by: HFD


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