AMSTERDAM (Reuters)- The world’s third-largest state pension fund, ABP, is looking to diversify its portfolio by stepping up its investments in media rights, adding to a portfolio that already includes Justin Timberlake and Beyonce.
ABP’s fund manager, APG, may invest hundreds of millions of euros in buying publishing rights for music, movies, and photos to diversify its portfolio, APG head of strategy and research Ronald Wuijster told Reuters on Tuesday.
APG, which manages about 218 billion euros (173 billion pounds) for Dutch ABP, has invested about $465 million (238 million pounds) in music so far this year, obtaining publishing rights in classical and popular music, including Kaiser Chiefs and Rachmaninoff.
