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New Ways to Invest in IPOs - IPO ETFs
US IPO Calendar erupts, 16 deals set to price in November
Analyst IPO Blog
With the Groupon IPO successfully floated and the
FTSE Renaissance US IPO Index
running ahead of the S&P 500 (+14.5% vs +11.5%, respectively) this quarter, the IPO floodgates have opened as companies rush to get out the door before Thanksgiving. After a two month long dry period, the US deal calendar has exploded in the past two weeks as bankers try to take advantage of a more constructive equity trading environment. There are currently 16 upcoming deals set to price in the month of November. With 11 deals currently on the calendar for next week, if all price it will be the busiest IPO issuance week since November 2007.
There are several notable offerings
coming next week
. Indianapolis, IN-based Angie's List (
), which operates a subscription-based website used to review local service providers, plans to hold its initial public offering with the goal of raising $106 million. The number 6 auto supplier in North America last year, Delphi Automotive (
), has plans to raise $554 million in their initial public offering. Chinese Groupon equivalent LaShou Group (
) filed terms yesterday for an IPO worth $75 million. Last, but certainly not least, independent investment management firm, Manning & Napier (
), is planning to raise $200 million in its IPO.
Three companies have already completed IPOs in November. In addition to Groupon's
widely publicized $700 million IPO
, nitrogen fertilizer producer Rentech Nitrogen and energy firm Enduro Royalty Trust also
To monitor IPO issuance activity, be sure to check out
Renaissance Capital's US IPO Calendar
for future developments.
Keywords / Tickers:
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As stated in the Prospectus, the total annual operating expenses for the Fund was 3.48%. The Adviser has contractually agreed to keep net expenses from exceeding 2.50% of the Fund’s average daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual re-approval of the agreement by the Board of Trustees.
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Renaissance International IPO ETF, symbol "IPOS"
(the “ETFs”), and the
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(the “Mutual Fund”) are subject to investment risk, including possible loss of the principal amounts invested. The ETFs and the Mutual Fund (the “Funds”) invest in companies that have recently completed initial public offerings. These stocks are unseasoned equities lacking trading history, a track record of reporting to investors and widely available research coverage which many result in extreme price volatility. Due to a greater number of IPOs in certain segments, the Funds may also be subject to information technology and financial sector risk, small and mid-capitalization company risk, and, for the Renaissance International IPO ETF, emerging markets risk. The Funds may hold securities in the form of Depository Receipts, REITs, and Partnership Units which have greater risks than common shares. The strategies have high portfolio turnover and securities lending risks. The returns of the ETFs may not match the return of the respective indices. The ETFs are classified as non-diversified investment companies subject to concentration risk.
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, or the
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