So far in 2012, the FTSE Renaissance US IPO Index has run up 10.4% year-to-date, more than double the S&P 500's 4.8% return. This is a good sign for the historically large backlog of companies waiting to go public, which includes 217 companies hoping to raise $50 billion, excluding Facebook's rumored $10 billion deal.

The technology industry has been a major driver of activity, with 54 technology companies in the pipeline. We are expecting 2012 to be a year of recovery for the IPO market led by the Facebook IPO. At a $10 billion expected deal size, Facebook will be the second largest constituent in the FTSE Renaissance US IPO Index.