Investment Trusts

Hipgnosis Songs Fund Limited

SONG:LSE

Hipgnosis Songs Fund Limited

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  • Price (GBX)101.80
  • Today's Change0.80 / 0.79%
  • Shares traded6.48m
  • 1 Year change+21.48%
  • Beta0.5637
Data delayed at least 20 minutes, as of Jun 14 2024 16:35 BST.
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About the company

Hipgnosis Songs Fund Limited is a Guernsey-based investment company. The Company is focused on building a diversified portfolio by acquiring catalogs that are built around hit songs. The Company’s investment objective is to provide shareholders with an attractive and growing level of income, together with the potential for capital growth, from investment in songs and associated musical intellectual property rights. Its investment policy is to diversify risk through investment in a portfolio of songs and associated musical intellectual property rights. It seeks to acquire 100% of a songwriter’s copyright interest in each song, which would comprise their writer’s share, their publisher’s share and their performance rights. Its subsidiaries include Hipgnosis Holdings UK Limited, Hipgnosis SFH I Limited, RubyRuby (London) Limited, Hipgnosis Songs Group LLC, PB Songs Ltd and Hipgnosis SFH XX Limited. Hipgnosis Song Management Ltd (HSM) acts as the Company’s investment adviser.

  • Revenue in GBP (TTM)117.72m
  • Net income in GBP-105.12m
  • Incorporated2018
  • Employees39.00
  • Location
    Hipgnosis Songs Fund LimitedFloor 2, Trafalgar Court, Les BanquesPO Box 286SAINT PETER PORT GY1 4LYGuernseyGGY
  • Phone+44 1 481716000
  • Websitehttps://www.hipgnosissongs.com
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Profile

Management group(s)Hipgnosis Song Management Limited
AIC sectorRoyalties
ISINGG00BFYT9H72
Launch date11 Jul 2018
Share typeOrdinary Share
StructureInvestment Trust
Base currencyGBP

Objective

To provide shareholders with an attractive and growing level of income, together with the potential for capital growth, from investment in songs and associated musical intellectual property rights.

Managed by

Not Disclosed

Management & contract fees

Management fee 1%. p.a. of the Average Market Capitalisation up to GBP 250m; 0.9% p.a. from GBP 250m and up to GBP 500m; and 0.8% p.a. in excess of GBP 500m. Performance fee equals to 10% of the excess Total Return. Contract is terminable on 12 months' notice.

Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Impax Environmental Markets plc63.58m48.50m1.02bn0.0024.290.898--16.080.16070.16070.21444.350.0481--84.72--3.677.953.758.0580.3890.0076.2787.48----0.066510.39130.44--121.62----8.92
BlackRock World Mining Trust Plc-55.78m-78.99m1.05bn0.00--0.9031-----0.4162-0.4162-0.29276.07-0.04-------5.6711.27-6.4212.79--91.06--88.86----0.114445.13-125.12---139.02----13.23
AVI Global Trust PLC140.50m134.14m1.05bn0.008.371.06--7.500.28120.28120.29352.230.1223--3.96--11.676.2311.846.4291.7986.1795.4784.91----0.120724.90246.787.59220.829.82--6.13
Edinburgh Investment Trust PLC141.15m131.71m1.08bn0.008.630.961--7.680.83430.83430.88397.490.1118--14.20--10.444.2310.484.3294.3882.2693.3179.36----0.095688.17157.4320.58211.7828.59---0.8722
Law Debenture Corporation plc133.36m75.15m1.10bn299.0014.511.2914.208.230.57690.57691.036.510.129--4.68446,020.107.275.607.515.7893.8192.7156.3553.61--12.730.165766.49494.99--187.04--38.8211.11
Fidelity China Special Situations PLC-173.20m-213.46m1.13bn0.00--0.9655-----0.4433-0.4433-0.36022.24-0.1296-------15.97-0.4496-16.98-0.4769---17.97---30.16----0.0107---408.78---1,016.59----10.70
JPmorgan Emerging Markets Inv Trust PLC42.51m22.66m1.16bn0.0052.000.8798--27.230.020.020.03691.180.0311--15.47--1.664.461.664.4677.4485.7153.3178.43----0.009923.22106.57-30.0499.34----5.71
Vietnam Enterprise Investments Limited157.58m126.91m1.17bn0.009.690.8725--7.440.61570.61570.77046.840.1179--56.52--9.494.939.564.9797.0295.9580.5471.92--188.750.000.00122.79--117.43------
Herald Investment Trust plc62.03m48.12m1.19bn0.0025.990.9868--19.180.84280.84281.0522.190.0486--23.28--3.778.423.778.4380.0589.8777.5888.79----0.000.00115.89--111.87------
Aberforth Smaller Companies Trust plc114.86m99.04m1.23bn0.0012.530.954--10.741.171.171.3515.370.0852--48.76--7.355.747.565.8292.2290.0486.2384.97--24.550.052645.12180.56--163.21----18.29
Hipgnosis Songs Fund Ltd117.72m-105.12m1.24bn39.00--1.18--10.52-0.0869-0.08660.09730.86970.0707--1.283,018,495.00-6.32---6.52--82.29---89.29-----3.350.3105---11.40---361.03------
Sequoia Economic Infrastrctr Incm Fd Ltd105.91m95.12m1.25bn0.0014.060.8344--11.760.05510.05510.06140.92880.0579------5.203.195.613.3579.7976.1689.8271.45----0.00176.12-86.89-22.14-128.62----2.10
Bankers Investment Trust PLC79.14m64.56m1.31bn0.0022.601.03--16.600.04940.04940.06221.080.0531--6.74--4.335.664.395.7086.6789.9381.5786.06----0.085635.88148.2634.54136.0353.46--5.36
BH Macro Ltd148.89m52.43m1.32bn0.0022.750.854--8.890.15280.15280.39064.070.0997--4.15--3.517.603.587.7884.3379.6435.2146.78----0.000.00-49.6518.40-40.6713.71----
Nationwide Building Society12.29bn1.66bn1.37bn13.97k----0.63430.223----------------0.59810.3588--------27.0524.75--------95.5912.8732.9117.44-7.97--
Pantheon International PLC-14.34m-54.32m1.46bn0.00--0.6569-----0.1031-0.1031-0.02744.76-0.0058-------2.1912.25-2.2412.31--90.71--89.39----0.06190.00-86.53-11.73-92.62-19.20----
Data as of Jun 14 2024. Currency figures normalised to Hipgnosis Songs Fund Limited's reporting currency: UK Pound GBX

Institutional shareholders

57.30%Per cent of shares held by top holders
HolderShares% Held
TIG Advisors LLCas of 04 Jun 2024109.56m9.06%
Investec Wealth & Investment Ltd.as of 26 Apr 202485.08m7.04%
Asset Value Investors Ltd.as of 29 Feb 202474.59m6.17%
Kryger Capital Ltd.as of 03 Jun 202472.23m5.97%
Sand Grove Capital Management LLPas of 23 May 202468.99m5.71%
Glazer Capital LLCas of 05 Jun 202461.48m5.08%
CCLA Investment Management Ltd.as of 30 Jun 202359.08m4.89%
Aviva Investors Global Services Ltd.as of 03 Jan 202457.72m4.77%
Schroder & Co. Ltd.as of 06 Jun 202455.37m4.58%
Brewin Dolphin Ltd.as of 23 Nov 202348.70m4.03%
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Data from 29 Feb 2024 - 31 May 2024Source: FactSet Research Systems Inc.
Data Provided by LSEG
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