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Neil Woodford’s comeback: Four City fund managers who also said sorry
News that the disgraced fund manager Neil Woodford is plotting a comeback may have raised eyebrows in the City, but he is not the first stockpicker who said sorry for his vehicle’s performance, and who did manage to stay in the game.
Woodford gave an emotional interview over the weekend in which he apologised for the collapse of his investment company and said he is working to set up a comeback firm by launching a Jersey-based fund focused on biotech assets.
It was not, however, the first time Woodford apologised. In September 2017 he said sorry for a spell of underperformance, which ultimately was not turned around. At the time he even responded to critics who asked whether he had ‘lost it’.
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Autonomous driving technology startup Pony.ai announced a $100 million extension to its last funding round today, bringing its total amount raised to more than $1 billion.
The company is now valued at $5.3 billion, up from $3 billion in February 2020.
The Ontario Teachers’ Pension Plan board’s Teachers’ Innovation Platform led the extension to Pony’s Series C round, with participation from Fidelity China Special Situations PLC, 5Y Capital, ClearVue Partners, Eight Roads, and others. Previous investors in the company include the Brunei Investment Agency, the sovereign wealth fund of Brunei, Toyota Motor Corp., Kunlun Wanwei, Sequoia Capital China, IDG Capital, and Legend Capital.
Fidelity China Special Situations Plc - Net Asset Value(s) PR Newswire London, February 4 Daily NAV Announcement Fidelity China Special Situations PLC The