In a shocking year for initial public offerings, those who backed Royal Wolf Holdings on day one – including fundies Perpetual , AMP Capital , Smallco and Aviva Investors, and retail investors through brokers Commsec and EL&C Baillieu – have so far been rewarded.

Royal Wolf, a modest shipping container leasing and sales company, floated with a $183 million market cap. It closed yesterday up 14.8 per cent since it listed on May 31. During that time, the S&P/ASX 200 Index has shed 8.8 per cent, while the small caps index has dropped 11.5 per cent.