Hipgnosis Songs considers strategic options ahead of September continuation vote

Including sale of song catalogues

Valeria Martinez
clock • 3 min read

The Hipgnosis Songs fund is considering strategic options to narrow its deep discount to net asset value after a number of top shareholders called for the disposal of non-core assets to demonstrate portfolio value.

The London-listed investment trust, which holds £2.5bn in assets, is currently trading at a 53% discount, according to data from the Association of Investment Companies.  In a stock exchange notice on Thursday (13 July), CEO Merck Mercuriadis said that, following consultation with many of its largest shareholders, the fund has been working with the board on a number of options to enhance shareholder value ahead of its five-year continuation vote in September.  This may include the potential strategic sale of catalogues of songs, the board said. The move follows a report by the Financi...

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