HITS Daily Double


We’re told that Merck MercuriadisHipgnosis Songs Fund Limited and The Family (Music) Limited has a new independent valuation of its Song Portfolio; the company’s Operative Net Asset Value (or NAV) as of 9/30 had increased just over 5% to 108.46 pence per share (up from 103.27 in March). Look for Hipgnosis to publicize its six-month numbers on 12/11.

“This is an excellent NAV result, and together with the dividends paid reflects a 7.45% Total NAV Return for our shareholders for the first half of the year and a Total NAV Return of 11.96% since Hipgnosis launched 16 months ago," reads a quote from Mercuriadis, who's pictured above with friend, associate and music legend Nile Rodgers. This is a testament to the great power of not only our songs but music and proven songs in general and supports our thesis that songs are a new asset class to be taken as seriously as gold and oil. Our results are not only positive news for Hipgnosis and our shareholders but for all songwriters.”

Rumors that Merck then bought three Caribbean islands and a fleet of miniature ponies could not be confirmed at presstime.