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Monday, March 11, 2013|
Kudos to Artisan!
Mister Market likes mutual fund shops again, or at least one mutual fund shop in particular. Artisan's [profile] initial public offering had the best first-day gain in over a decade for an asset manager, according to SeekingAlpha.
Artisan pulled the trigger on its IPO on Thursday, closing with a first day gain of 29 percent.
This 29-percent gain, according to SeekingAlpha, was the "best in at least 15 years for a pure-play, traditional asset manager."
Moreover, the investor site notes that "The firm's long-only strategies have consistently outperformed since inception, and assets under management have increased at a 14% CAGR since 2002, which included a 30% increase in 2012."
For more analysis of the IPO, read SeekingAlpha.
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