Round Hill Music Royalty Fund announces intention to float

LONDON (Reuters) - Round Hill Music, a Guernsey-incorporated royalty fund, is planning a $375 million listing on the London Stock Exchange, the company said on Tuesday.

The firm’s investment objective is to provide investors with regular and growing income and capital returns from investment primarily in high quality, music intellectual property and is targeting annual total returns of 9-11%, including a dividend yield of 4.5%.

Founded in 2010, Round Hill is the seventh largest music publishing company in the United States. It has identified a pipline investment portfolio of assets including songs by The Beatles, The Rolling Stones, Louis Armstrong, Marvin Gaye, Elvis Presley, James Brown and The Supremes.

Its 10-year track record spans three private funds that have delivered 17% gross returns for investors and generated more than $175 million of net royalty income.

Reporting By Sinead Cruise, editing by Simon Jessop