About IPO ETF
IPO offers access to the newest, most significant U.S. listed companies after they go public by adding a new company to its basket within 90 days of listing and removing a firm after two years of public trading. The resulting portfolio complements the overall equity market, as its weighted average market cap will ordinarily be far smaller, and its constituents may not be included in major indexes for a few months. The small number of eligible securities can make for a concentrated portfolio. Index constituents have a 10% issuer cap and are reviewed quarterly
About the Fund Manager
Renaissance Capital is an emerging and frontier markets focused investment bank founded in 1995 in Russia. As of 30 June 2020, the Firm’s total assets and equity amounted to $3.7bn and $445mn, respectively, and reported 1H20 net profit was $14.4mn.