Contrarian: One more piece of good news for investors

CONTRARIAN

The IPO pipeline has finally unblocked.

Now I realise this is not exactly ground-breaking news but the last few years really have not been that kind to investors in ‘new’ shares, so the recent spate of new issues by smaller companies as well as fund placings is unalloyed good news. Call me old fashioned but I always assumed stock markets were supposed to be equity fund raising machines that delivered fresh risk capital to new ideas. Sadly, that has not been much in evidence over the last few years, especially in the all important funds space, dominated by investment trusts. What has been shown is many of the ‘old’ new id...