Two founders of BlueBay Asset Management, who cashed in stakes worth a combined £60m (€88.6m) when the company floated at the top of its price range today, saw the value of their remaining joint stake surge to £146.6m by mid-morning after shares jumped 7%.

Chief executive Hugh Willis and chief investment officer Mark Poole sold 10 million shares and raised £30m each in the flotation, and will be left with a combined 24% of the company following the stock market listing.