Old Mutual UK Smaller Companies manager Dan Nickols has noted the "rich source of ideas" represented by the IPO market ahead of 2015's listing season.
A flurry of IPOs in early 2014 sparked concerns about the valuation of shares in the newly-floated companies. Expectations of a second burst of activity in the autumn were dampened by the October volatility. But Nickols (pictured) has bought nine companies which floated this year, meaning IPOs represent close to 10% of his portfolio. He expects another IPO season early in 2015. He said: "The general view is that the IPO market has been a disaster. I think that is unfair. "If you look at it in the round, we think it has added a lot of value. The problems in the IPO market were more ...
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