Where are we placed in the current IPO cycle and how will big floats like Healthscope and Medibank perform? Justin Braitling, CIO of Watermark Funds Management, says we are probably half way through the current IPO cycle. Braitling says that IPO sponsors have done a good job of sharpening their pencils post Christmas which has helped the market absorb the significant number of IPO's. However, he says the performance of some of the recent IPO's is a sign that the market is starting to show signs of indigestion. On Healthscope and Medibank, Braitling says they fall into the sweet spot for fund managers and analysts because they are in the healthcare sector that is benefiting from positive demographic trends. With a lack of growth opportunities available Braitling expects them to be fully prices but well received. Watch the video: &feature=youtu.be