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CFA SINGAPORE INSIGHTS

Beware the unicorn IPO stampede

As unicorns go public, they are added to major large-cap indexes and find their way into portfolios across the income spectrum, exposing these portfolios to risks associated with VC investing

IN MEDIEVAL and Renaissance allegories, unicorns are rare and wild creatures that signify honesty, fidelity, purity, and healing.

In the world of finance, unicorns are backed by venture capital (VC) and are privately funded companies with valuations in excess of US$1 billion that are no...

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