Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Corked: wine fund liquidates

Corked: wine fund liquidates

The Bordeaux Fund, an open-ended fund that invests in fine wine, is to wind up.

Andrew della Casa of Anpero Capital, the Bordeaux Fund’s wine adviser, told Wealth Manager that the fund had been hampered by the Unregulated Collective Investment Schemes regulations and had also suffered from costs dragging on performance.

The separate wine funds that Anpero Capital advises are not affected, della Casa noted.

Since its launch in 2008, the Bordeaux Fund has lost 58%. Wine investments have suffered particularly in recent months due to the strong pound, which has deterred overseas buyers from UK sellers, and from a supply glut while another wine fund, Nobles Crus, liquidates.

The most expensive holding in the fund is a bottle of Château Margaux, bought for £440,000. In total the fund’s portfolio is worth £2.1 million.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Hugh Yarrow: Why the equity income sector needs fixing

Hugh Yarrow: Why the equity income sector needs fixing

Hugh Yarrow's Evenlode Income fund was recently removed from the Investment Association's UK Equity Income sector.

Play GAM charity football tournament: the live draw

GAM charity football tournament: the live draw

Former Chelsea and England footballer Graeme Le Saux visits Citywire to make the draw for the tournament, where all proceeds going to Wheels for Wellbeing.

Play FIFA, Panama Papers…and what everyone’s getting wrong

FIFA, Panama Papers…and what everyone’s getting wrong

VIDEO: Investigative reporter Jeffrey Robinson reveals how major corruption scandals are being mishandled and what to expect next.

Your Business: Cover Star Club

Profile: JPM Wealth MD on breaking the glass ceiling

Profile: JPM Wealth MD on breaking the glass ceiling

During her tenure at JP Morgan, the private bank has changed the way it segments clients in a bid to improve focus

Wealth Manager on Twitter