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Thursday, March 07, 2013|
Artisan Sizzles on Day One
Today Artisan pulled off the first public offering of a mutual fund shop in nearly 16-months, and did it in style.
Artisan's shares closed today at $38.93, nearly 30-percent higher than the $30 price set when the value manager pulled the trigger on its IPO this morning.
At $38.93 per share, the Milwaukee-based mutual fund shop boasts a market value of $2.58 billion. As of February 15, 2013, Artisan Partners had approximately $79.5 billion in assets under management. That would translate into a market cap to AUM ratio of 3.25 percent.
The brisk climb attracted the attention of a number of financial news outlets, including the Wall Street Journal, iStockanalyst, Milwaukee-Wisconsin Journal Sentinel,247WallStreet, and the Associated Press.
The boom is good news for other asset firms, like Old Mutual, weighing deals or going public. It seems Mister Market has reacquired his taste for asset managers.
Printed from: MFWire.com/story.asp?s=43221
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