The art collection of the British Rail Pension Fund
Fine art and British Rail may not seem like they have much in common, but for several decades British Rail, through its pension fund, was a major player in the world of fine art. From the
NY Times (Apr 5, 1989):
The pension fund began selling its art in 1986, and sold the last of it in 2003.
The Wall Street Journal reported in 1996 that the pension fund made a return of 13.1% per year on its art. Which doesn't seem bad at all. However, its stock portfolio, during the same period, returned 22% a year.
If you're looking for a coffee-table curiosity, there are several books dedicated to the artwork owned by the British Rail pension fund.
More info: "When a railway fund started buying paintings"
NY Times (Apr 5, 1989):
Between 1974 and 1981, British Rail became Britain's first (and it is believed only) large pension fund to enter the collectibles market, acquiring more than $70 million worth of paintings, prints, drawings, furniture and other top-flight works to supplement more conventional investments as a hedge against inflation, which was extremely high in Britain at the time.
The pension fund began selling its art in 1986, and sold the last of it in 2003.
The Wall Street Journal reported in 1996 that the pension fund made a return of 13.1% per year on its art. Which doesn't seem bad at all. However, its stock portfolio, during the same period, returned 22% a year.
If you're looking for a coffee-table curiosity, there are several books dedicated to the artwork owned by the British Rail pension fund.
More info: "When a railway fund started buying paintings"
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Category: Art | Money | Collectors