We believe Round Hill Music Royalty Fund's (RHM) current share price discount to NAV is excessive given the fundamental attributes of the portfolio and asset class. In our view, investors are primarily concerned about the present value impact of rising interest rates, music consumption's resilience to broader inflation and a possible slowdown in the growth of streaming. In this report we address these concerns and our forecasts for the fund imply that the current discount is unwarranted.
23 Jan 2023
Cenkos: Round Hill Music Royalty Fund Ltd -- The Beat Goes On
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Cenkos: Round Hill Music Royalty Fund Ltd -- The Beat Goes On
- Published:
23 Jan 2023 -
Author:
Cavendish Research -
Pages:
15
We believe Round Hill Music Royalty Fund's (RHM) current share price discount to NAV is excessive given the fundamental attributes of the portfolio and asset class. In our view, investors are primarily concerned about the present value impact of rising interest rates, music consumption's resilience to broader inflation and a possible slowdown in the growth of streaming. In this report we address these concerns and our forecasts for the fund imply that the current discount is unwarranted.