June 14 Financial Quick Takes: Hargreaves pulls out of Woodford fund; plus Hansoh, Seres, Transgene
Hargreaves closes holding in Woodford fund
Hargreaves Lansdown closed its position in Woodford Income Focus in the Hargreaves Lansdown Multi-Manager High Income fund this week, Head of Investment Analysis Emma Wall told BioCentury. The financial services company said it removed the fund from its Wealth 50 list because it "no longer had conviction in the fund." It is the latest in a string of setbacks for U.K. fund manager Neil Woodford (see "Woodford Suspends Trade in Flagship Fund”).
Hansoh shares jump in Hong Kong debut
Hansoh Pharmaceutical Group Co. Ltd. (HKSE:03692) gained HK$5.24 (37%) to HK$19.50 in its first day of trading Friday after raising HK$7.9 billion ($1 billion) in a Hong Kong IPO Thursday. Friday's move added HK$29.9 billion ($3.8 billion) to the Chinese pharma's market cap, bringing its total valuation to HK$111.3 billion ($14.2 billion)...