On November 13, the London School of Economics published a research report, From Local to Global – The rise of AIM as a stock market for growing companies, commissioned by the London Stock Exchange. The report reviews the growth and development of AIM since its inception in 1995 and highlights that the amount of capital raised on AIM has increased from £2 billion ($4.1 billion) in 2003 to £15.7 billion ($32.15 billion) in 2006.

According to the report, since 1995 some 2,300 British and 400 foreign companies have come to AIM, raising a total of £49 billion ($100 billion), of which over 40% has been in the form of further issues.

The report attributes AIM’s success to several key factors including: (i) distinctive regulation, (ii) broad market profile, (iii) strong after-market performance and low failure rates, and (iv) strong liquidity for larger securities.