Subprime crisis wrecking your investments? No value in equities? No returns on commodities? No money in fixed income?
How about Madonna’s bustier? Or maybe John Lennon’s bathrobe? Alternative “art” investments are gathering interest as the credit crunch and slowing economies wreak havoc traditional investments, writes Bloomberg:
Madonna souvenirs and vintage guitars are the latest alternative assets to attract interest from structured investment funds.
Marquee Capital Ltd. and Anchorage Capital Partners Ltd. are London-based companies planning to start the first investment funds devoted to rock and pop mementos.
“Some people have huge memorabilia collections,'’ said Ted Owen, managing director of the specialist auction house, The Fame Bureau. “These have quadrupled in price in the last 10 years. Now funds could make people aware that the rock and pop market has a financial base, rather than just a fan base.'’
Looking at Marquee’s website, the company says it specialises in collecting celebrity memorabilia, with a “strong focus” on Madonna.
The value of items related to she-of-the-conical-bra has increased 107 per cent to 733 per cent over the past few years, according to Marquee. It claims an average return of 23 per cent between January 2007 and September 2007. Investors are locked in for five years, but you get to recommend future purchases and visit the company’s London vault to view the collection.
If you don’t meet the investment criteria (minimum income of £100,000 per year), fear not.
Marquee will be showcasing the world’s biggest-ever exhibition of Madonna memorabilia at the Old Truman Brewery in February, according to Bloomberg.
See you there, I’m sure.
