Fund managers should face up to their own Medibank mistakes

The institutions who bid to be in the Medibank float made their bed, and now they must lie in it.

One of the more bizarre, and risible, developments in the aftermath of the Medibank Private float has been the moaning from fund managers that the float was overpriced.

With the shares trading around $2.10 each, against the $2.15 the institutions paid, they are obviously marginally in the red in these first few days of trading. But whose fault is that?

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