The Hipgnosis Songs fund has reported a total net asset value return over the six months to the end of September of 0.7%, as people continue to pay for music despite the cost of living crisis.
This makes a total NAV return of 60% since the investment company's launch in July 2018. Net asset value per share for the six months ended 30 September 2022 was 164.06p, up from 140.79p on 31 March 2022. The music-based investment trust's portfolio comprises 146 catalogues, totalling 65,413 songs, with an aggregate fair value of $2.67bn, the company said. Merck Mercuriadis, CEO and founder of Hipgnosis Song Management and founder of Hipgnosis Songs fund said: "These results demonstrate Hipgnosis' investment thesis remains robust with continued growth in a challenging environment."...
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