The rise of passive funds is the unspoken problem with the IPO market.
These funds – State Street, Vanguard, BlackRock and all the others – are huge participants in Australian equity capital markets every day, are growing like weeds, and yet, you will not spot them within cooee of an IPO.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
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