Funds find IPO waves too small to surf on

Deploy only 2.5% of their assets in companies listed since 2014

A dearth of big-sized initial public offerings in recent years has constrained domestic fund managers from riding the new IPO wave. Fund managers feel forced to chase the same set of stocks amid strong inflows into their schemes.

In the 52 newly listed companies since 2014, fund managers have a total investment of a mere Rs 13,270 crore, or 2.5 per cent of their assets under management (AUM) as on December 2016. The total equity AUM is Rs 5.1 lakh crore.  Of this, nearly Rs 10,000 crore is locked in 16 newly listed companies.

Some of these companies are Equitas Holdings, ICICI