Former Jupiter fund manager Alexander Darwall has apologised to investors for making too large a bet on fintech Wirecard, which is facing scrutiny over its accounting practices. At one point Darwall, who left Jupiter in July to establish his own fund management business, had over 17 per cent of his £1bn investment trust in the German payments company. Darwall retained the management of the European Opportunities Trust after leaving Jupiter. He apologised for holding such a large stake in Wirecard, adding: "We won't have such a big holding in an individual stock again". The German fintech has lost around a fifth of its market value since January last year after the Financial Times called some of its accounting practices into question.

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