Aviva Investors, one of the country's largest fund managers, and Ignis Asset Management have raised early concerns about the initial public offering of housebuilder Crest Nicholson – comments that come as the UK's market for new listings faces growing scrutiny from the buyside.

The two fund managers have told Financial News they are unsure about the early valuation of the company, which is set to return to the equity markets four years after it delisted from the London Stock Exchange and almost went bankrupt.