With a post-crisis record set for European equity issuance so far this year and host of offerings on the horizon, UK fund managers say they can afford to treat new deals with scepticism.

Over $200 billion was raised in Europe's equities markets in the year to late August, just shy of the 2007 record. Despite a quieter August than recent summers, bankers and lawyers alike are anticipating a stream of new deals upon return from their holidays. Edward Bibko, London head of capital markets at law firm Baker & McKenzie, said this week: "I think people are trying not to think about how much work there will be in the autumn."