The Estonian fine wine fund concluded Its First Year With a 9% Profit and Has Ambitious Growth Plans
Estonia's first fund exclusively investing in fine wines finished its first year with a 9% profit. Over the course of the year, the WineFortune Premium Selection fund attracted more than 450 investors, totaling over 650,000 euros. The net asset value per share increased to 1.09 euros by October 24, marking a significant rise from the initial 1 euro upon entering the market. Moreover, the market price of the wines has grown by nearly 12% compared to the purchase price. The approximate asset distribution of the fund is as follows: 80% red wines, 10% champagnes, 7% white wines, and 3% in cash. The Bordeaux, Tuscany, and US regions constitute the largest shares.
Investment decisions of the fund are made based on the history of fine wine B2B trading platforms, evaluations by wine critics, and guidance from the expert council of WineFortune. The council includes Raimonds Tomsons, crowned as the world's best sommelier in 2023, Samuil Angelov, a board member of the International Sommeliers Association, and Rein Kasela, a grand old man of the Estonian wine world.
The fund has two reputable partners for wine storage: Wine Logistics International in Belgium and Octavian, Europe's largest storage facility near London. The fund wines are insured by both storage facilities at the current market value based on London Wine Exchange data.
Fund manager Risto Kaljurand stated, "In the near future, we are primarily looking towards the Burgundy and Champagne regions, as their price levels offer excellent buying opportunities. In the coming year, we aim to achieve a minimum of 10% growth."
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