London-listed song catalog fund faces challenges in H1

  • Hipgnosis Songs Fund’s operating pretax loss for H1 widens on fall in portfolio value and revenue
  • Adjusted earnings before interest, taxes, depreciation, and amortization decreased by 36%
  • Revenue fell from $86.4 million to $63.2 million
  • Accounts for the first half of fiscal 2024 delayed due to concerns over asset valuation

Hipgnosis Songs Fund, the London-listed song catalog fund that owns rights to tracks by popular artists such as Shakira, Blondie, and Neil Young, has reported a widening operating pretax loss for the first half of its fiscal year. The loss was primarily driven by a fall in the fund’s portfolio value and revenue, with adjusted earnings before interest, taxes, depreciation, and amortization decreasing by 36%. Revenue also declined from $86.4 million to $63.2 million. The fund’s accounts for the first half of fiscal 2024 will be delayed due to concerns over the valuation of its assets. Chairman Robert Naylor has urged the investment adviser to provide a fair value opinion without caveats to ensure greater certainty and transparency for shareholders. As a result of these challenges, shares of Hipgnosis Songs Fund have declined by 20% year to date.

Public Companies: Hipgnosis Songs Fund (N/A)
Private Companies: undefined, undefined, undefined, undefined
Key People: Najat Kantouar (N/A), Robert Naylor (Chairman)

Factuality Level: 8
Justification: The article provides specific financial information about Hipgnosis Songs Fund, including its operating pretax loss, adjusted earnings, and revenue. The information is presented without any obvious bias or opinion, and there are no misleading or sensationalized elements. However, the article lacks additional context or analysis, which could have provided a more comprehensive understanding of the company’s financial situation.

Noise Level: 3
Justification: The article provides straightforward information about the financial performance of Hipgnosis Songs Fund, including its operating pretax loss, adjusted earnings, and revenue. It also mentions the delay in the company’s accounts and the chairman’s statement. However, there is no analysis or exploration of long-term trends, antifragility, or accountability. The article stays on topic and supports its claims with data.

Financial Relevance: Yes
Financial Markets Impacted: The article pertains to the financial performance of Hipgnosis Songs Fund, a London-listed song catalog fund. It discusses the fund’s operating pretax loss, adjusted earnings, and revenue for the first half of its fiscal year. It also mentions concerns over the valuation of its assets and the impact on shareholders.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article focuses on the financial performance and concerns of Hipgnosis Songs Fund, without mentioning any extreme events or their impact.

Reported publicly: www.marketwatch.com