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 Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Play SVM's Veitch on what's next for banks

SVM's Veitch on what's next for banks

SVM fund manager Neil Veitch is finding value in what he describes as unstable financials and talks through his favourite small caps.

Read More
Your Business: Cover Star Club

Profile: UBS' robo boss on what his tween can teach the industry

Profile: UBS' robo boss on what his tween can teach the industry

Co-head of UBS SmartWealth Shane Williams explains the simple life lessons missed by the first wave of robo pioneers

Wealth Manager on Twitter