ARTIST PENSION TRUST UNVEILS GLOBAL ONE
APT launches new worldwide trust open to talented artists after phenomenal growth of regional trusts
HONG KONG, 16 May 2013: Artist Pension Trust® (APT), the unique program founded in 2004 in New York, to provide artists long-term financial security and international exposure, will announce the opening of its new trust, to be named APT Global One, at an Art Forum discussion in conjunction with Christie’s on Thursday, 23rd May during the Hong Kong Basel event.
APT nurtures and supports the careers of over 1,500 artists from 75 countries, and holds the largest collection of international contemporary art, standing at over 10,000 works of art and curated by over 85 leading curators. The unique APT model is used in eight regional trusts: Beijing, Berlin, Dubai, London, Los Angeles, Mexico City, Mumbai and New York. Artists deposit 20 artworks over a 20-year investment schedule, with a total of 72% of the net proceeds derived from the sale of deposited artworks, distributed to the individual artist and the artists in that trust. The model provides both emerging and successful artists with financial hedges by diversifying risk while also exposing them to the international art world.
APT Global One has been designed to bring artists located in both major centers and dispersed localities into the international arena. APT created the trust following the success of all the regions and, in particular, the fact that APT New York, APT Beijing and APT Berlin are all near or full to capacity. APT Global One will accept up to 6281 participating artists selected by the APT team of leading curators and aligned with the risk management financial model used by APT as devised by APT co-founders Moti Shniberg, Chairman of the Board, and Professor Dan Galai, leading world economist and former Whitney Museum Director David A. Ross.
“The creation of APT Global One,” according to Shniberg, “reflects the present strength of both our international art network and the field of contemporary art as a whole. We are currently experiencing an unprecedented number of new APT-qualified artists, such that in addition to growing our existing trusts, we anticipate that APT Global One will reach the maximum amount of participating artists by the end of 2014.”
APT’s fastest growing trust, APT Beijing with close to 250 participating artists, opened in 2006 and has been supported by APT partner Simon Murray & Company. Award-winning APT Beijing artists include Kingsley Ng (Hong Kong Contemporary Art Biennial Award), Lee Kit (Art Futures Award, Hong Kong Art Fair) and Leung Mee Ping (Leading Contemporary Asian Artist selected by ART AsiaPacific, Australia).
Kingsley Ng Leung Mee Ping
Hamilton Tang, Group Chief Executive Officer of Simon Murray & Company, remarked: “The success of APT Beijing is an integral part of this exciting time for contemporary artists in the region, offering them a gateway to a truly international network. We are delighted to be APT’s partner in Asia and believe APT Global One exemplifies APT’s commitment to support artists from Asia and all over the world by providing a secure financial future.”
APT is officially announcing APT Global One at an Art Forum Discussion staged in conjunction with Christie’s. The Forum, entitled ‘Commerce & Creativity: An Artist’s Journey through the Art World Today’, will be moderated by Mimi Brown (Founder and Director of the Spring Workshop) and held at the Hong Kong Convention Centre on Thursday, May 23rd during the upcoming Hong Kong Art Basel` fair. Guest speakers include Ingrid Dudek (International Senior Specialist, Asian Contemporary Art, Christie’s), Professor Dan Galai (Economist and APT Co-Founder), Catherine Grenier (Associate Director, Musée national d’art moderne, Centre Pompidou), Catherine Kwai (Founder, Kwai Fung Hin Art Gallery), and Sir David Tang (Founder of China Club and Shanghai Tang).
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Notes to Editors
1. The number 628 also represents the personal road to good fortune in the Chinese culture.
Artist Pension Trust® (APT) – company facts
With representative offices in New York, Los Angeles, London, Leipzig, Mumbai, Hong Kong, Shanghai, Mexico City and Amman, Artist Pension Trust ® (APT) provides long-term financial security and international exposure to select artists in 75 countries around the globe through their investment of artworks into the trust. With each artist depositing up to 20 artworks over a term of 20 years, APT is building the largest international collection of contemporary art in the world. APT’s diverse collection currently includes more than 10,000 artworks and is growing by 2,000 artworks each year.
APT, founded in 2004 in New York, operates in partnership with Simon Murray & Company in Asia bringing long-term financial commitment to artists, with business investment expertise of over three decades.
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