London, UK, 18 August 2021

Round Hill Music Royalty Fund (RHM): Initiation - Music and finance in harmony

Round Hill Music Royalty Fund (RHMRF) was launched in November 2020. Its fund manager, Round Hill Music LP, established in 2010, manages over $900m (at end June 2021) and is one of the largest global music asset owners, consistently a top 10 Billboard Top Publisher. RHMRF benefits from Round Hill's industry expertise and fully integrated business owning and exploiting music copyright assets. It focuses on mature catalogues (90% of its songs are over 10 years old) and high growth-potential master rights (c 23% of portfolio at June 2021). We believe RHMRF's assets to be high quality, with strong potential to provide reliable and growing revenues given the momentum in streaming and potential of new channels. 

In our view, RHMRF has compiled a strong set of assets through its purchases of the Round Hill Fund One assets and the outstanding minority interest of the Carlin portfolio. We regard the prices paid as appropriate for the underlying asset quality, which is mature and well diversified by genre. RHMRF's revenues are set for strong growth, driven by the popularity of streaming and newer formats such as social media, gaming and fitness. The prospect of regulatory changes that are considerably more favourable to songwriters enhance the outlook further. The manager Round Hill (RHM LP) has generated a historical internal rate of return of over 17% (over the past 10 years) on its three private funds.   

Click here to view the full report or here to sign up to receive research as it is published.

All reports published by Edison are available to download free of charge from its website

www.edisongroup.com

About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Fiona Orford-Williams +44 (0)20 3077 5739 media@edisongroup.com

Victoria Chernykh +44 (0)20 3077 5700 investmenttrusts@edisongroup.com

Max Hayes +44 (0)20 3077 5700 investmenttrusts@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn        www.linkedin.com/company/edison-group-/

Twitter           www.twitter.com/Edison_Inv_Res

YouTube       www.youtube.com/edisonitv