Merck Mercuriadis claims that hit songs are a reliable income stream with no correlation to other asset classes.

The ex-Elton John and Beyonce manager runs the Hipgnosis Song investment trust, which last month surpassed a £1bn market cap valuation.

Merk has recently bought up the back catalogues of artists as diverse as Blondie, Wu Tang Clang, and Barry Manilow.

The Song fund also owns a stake in individual hits such as Ed Sheeran’s Shape of You, Journey’s Don’t stop Believing, and Justin Timberlake’s SexyBack.

Merk has managed to capture interest from institutional investors, with the likes of Aviva, Quilter and investec buying into the strategy.

A more surprising investor, the church of england, has also bought into the fund.