2016 favourable to IPOs, Skylar says
Paris-headquartered Skylar Group launched the Skylar Origin fund, playing the initial public offering theme, at the end of May 2015.
In its last monthly report, Skylar said the market turmoil has impacted the fund performance dropping by 9.8% compared to December 2015.
The asset manager also stressed IPO flows have dried up in January with only a few listings reported in Asia.
Skylar has invested in IPOs of Virscend Education, a company owning private schools in China, and Ronshine China, a property developer in China and Taiwan.
With the market turmoil, the company explained a number of stocks have reached their target prices and has therefore cleared positions in Amundi, Cellnex, Hapag Lloyd and First Data.
However, Skylar explained 2016 should be favourable to IPOs, especially in Europe, highlighting IPOs of CYBG, Ascential and Scandinavian Tobacco Group in February.
As at end January 2016, net assets invested in the Skylar Origin fund reached €14.8m.
Skylar has been established in 2015 when French boutique SPGP joined forces with UK private equity firm Galaxis Capital and alternative manager Casteel Capital.