The news that Emirates National Bank of Dubai had announced a partnership with the Fine Art Fund got the Financial Times curious about the efflorescence of art funds:
The Fine Art Fund Group already has similar relationships with Banco Santander, EFG Eurobank Private Banking and Banca della Svizzera Italiana.
The company, started by Philip Hoffman, a former finance director at Christie’s, said 2010 was its busiest year to date. “What we’re seeing is a huge number of individuals allocating money to art that have never touched art before,” he says.Continue Reading