ICM Crescendo Music Royalty Fund Announces Positive Increase in Distribution Rate
(August 2023 – Calgary, Alberta) ICM Crescendo Music Royalty Fund (“Fund”) is delighted to announce a substantial increase in distributions for its unitholders, reflecting the fund’s strong performance and growth in revenues. Effective immediately, the monthly distribution across all unit classes will be raised by 1 cent/month (12 cents/year) per unit, resulting in a 15.8% to 19% per unit increase on an annual basis. This is the Fund’s second and largest increase in distributions since the Fund launched in 2020.
The decision to increase distributions comes as a testament to the Fund’s commitment to delivering value and consistent returns to its investors. The substantial growth in revenues this year, particularly from our material catalogues, has exceeded the Fund’s expectations. Key contributors to this exceptional performance include Nathan Chapman (Taylor Swift), Spiff TV (Anuel AA), Grossman (Gordon Lightfoot & Janis Joplin), Byron Gallimore (Tim McGraw & Faith Hill), and Sleeping with Sirens, whose contributions have significantly boosted the Fund’s overall earnings.
“At ICM Crescendo Music Royalty Fund, we remain dedicated to prioritizing growing distributions and providing our investors with a stable income stream,” said David Vankka, President, and Portfolio Manager at ICM Asset Management. “Our team diligently monitors the valuation relative to distribution yield and cash flows, ensuring that our unitholders receive the maximum benefits from their investment with us.”
This increase in distributions demonstrates ICM Crescendo Music Royalty Fund’s continued growth and success in the music industry. It reaffirms our position as a reliable investment opportunity, offering investors the chance to participate in the thriving music royalty market.
About ICM Crescendo Music Royalty Fund
ICM Crescendo Music Royalty Fund provides investors with an attractive, diversified and long-term revenue stream of royalties by investing directly and indirectly in musical and entertainment intellectual property rights in the form of music royalties.
To learn more: www.musicroyaltyinvesting.com
Disclaimer: This press release may contain forward-looking statements that are based on current expectations and involve risks and uncertainties. Actual results may differ materially from those projected in the forward-looking statements. The Fund undertakes no obligation to update or revise any forward-looking statements.