(Wall Street Journal) -- Fidelity Investments plans to offer a lineup of mutual funds run by a team of money managers, rather than an individual, as part of its attempt to rev up lagging fund sales.

The Boston fund titan, facing big gains in asset gathering by its competitors, is expected to announce the formation of a "multi-manager group" that will by led by former Magellan Fund manager Robert Stansky and consist of at least eight of Fidelity's best stock-pickers, who will likely oversee at least three new funds, say people familiar with the plans. Each member will be responsible for managing a certain sector and the investments in it.