Investment manager Aurora Funds Ltd saw a tamed debut at the Australian Stock Exchange (ASX) on Tuesday as its shares remained untouched by 1100 AEST and with merely 320 shares being traded by 1345 AEST, with its stock price steadying at $2.00 per share.

Aurora is the product of three asset and fund managers which merged in early 2010, namely Sandringham Capital Pty Ltd, Fortitude Capital Pty Ltd and Aurora Funds Management Ltd and currently handles $600 million funds under its supervision.

The fund manager's targeted market niches are the Australasian retail industry and wholesale and institutional investors.

The company raised up to $2 million in May following its initial public offering (IPO) and it eventually gained entry into ASX carrying a total market capitalisation of about $19 million.

Aurora said that executives and directors from the three merged asset managers currently maintain a majority stake of 53.2 percent in the company while its new batch of shareholders hold 22.3 percent of the fund's stocks, with the other types of shareholders holding 17.9 percent shares.