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  "documentTitle": "Hipgnosis Songs Fund | Results Presentation Deck | 43 slides",
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      "text": "Kroll engagement to consider and advise on the calculation of a discount rate applied in the valuation of the Portfolio continued\nAt time of interims, Citrin Cooperman discount rate within the range identified by Kroll at that time\nIn current period, Kroll range increased reflecting an increase in Equity Risk Premium and relative volatility of music peers relative to the overall market\nSince period end, Equity Risk Premium fallen back to previous level, whilst volatility remains elevated\nKey differences from input assumptions including, the selection of appropriate set of peer groups and the length of calculation period for market data when estimating the Equity Risk Premium, the beta and the risk-free rate",
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      "text": "Kroll discount rate range; 9.00% - 9.50% (28 June 2023); 9.00% - 9.75% (31 Mar 2022); 8.25% - 9.00% (30 Sept 2022)",
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