Investors who bought shares in asset management companies that floated in 2006 have had a rocky ride, but are ahead of the market – unlike those who invested in 2007’s crop of asset management IPOs. Several mid-sized London houses, including the emerging markets firm Ashmore Investment Management and credit specialist BlueBay Asset Management, listed in London in late 2006.

Ashmore and BlueBay outperformed the market immediately after listing, with both firms virtually doubling their value by early May 2007, while the FTSE All-Share climbed about 10%.