First State targets $350m for music royalty fund

Mon Feb 23, 2009

Specialist media-related strategy aims to deliver steady and non-correlated returns

First State Media Group, a specialist investment arm of Commonwealth Bank of Australia subsidiary First State Investments, is in the process of raising a second tranche of capital for its FS Media Works Fund - a novel alternative investment strategy based on music publishing copyrights and royalties.

James Drake

Having raised $130 million at its initial close in November last year, with commitments from major international pension funds and other institutional...


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