Hipgnosis lost millions due to inflated growth projections, independent valuation reveals March 28, 2024 Inflated growth figures and overvaluation of the music catalogues led Hipgnosis Songs Fund to lose hundreds of millions over the last few years, an independent valuation of the trust has revealed.
Hipgnosis warns of overcharging issues after inflating its value March 18, 2024 The board of the embattled investment trust Hipgnosis Songs Fund has reduced its estimated operative net asset value (NAV) by 7.6 per cent after admitting it had mistakenly double counted accrued revenue. The error inflated the trust’s operative NAV from $1.995bn to $2.103bn, and the trust’s board has laid the blame for the mistake at [...]
Hipgnosis sees value of portfolio cut after new due diligence work March 4, 2024 The board appointed the third-party advisor following disagreements between the company and its investment advisor Hipgnosis Song Management Limited, over the value of its assets.
Hipgnosis showdown as shareholders vote against board and oust chairman October 26, 2023 Hipgnosis shareholders have rocked the songs fund, with the majority voting against a continuation and to show the chairman the door.