With a bit of luck, you didn’t invest in Fine Wine’s Bordeaux Fund. Launched in 2008, it’s to be wound up, and £100 invested then will turn into about £42. We’re constantly being told that wine is one of those wonderful alt asset classe

February 8, 2014 Leave a comment

February 7, 2014 8:14 am

A fine whine

By Neil Collins

With a bit of luck, you didn’t invest in Fine Wine’s Bordeaux Fund. Launched in 2008, it’s to be wound up, and £100 invested then will turn into about £42. We’re constantly being told that wine is one of those wonderful alternative asset classes which have made returns from shares look pedestrian, so this sort of performance is something of a shock.

Andrew della Casa of Anpero Capital, which advised the fund, says that the bottles themselves didn’t do too badly. The damage was done by gearing up the fund, and the management and storage charges.

Together, these turned an 8 per cent gain over five years into the 58 per cent loss. Mr della Casa says other funds advised by Anpero have done better, but the Bordeaux Fund is another reminder of Woody Allen’s definition of a stockbroker as a man who invests your money until it’s all gone.

 

 

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