Performance Figures

Graph

Portfolios are valued independently by Liv-ex, the fine wine exchange

Net asset value % change since inception, as at 30 November 2011
Tranche Term Average Return per Month Annualised Return
2003 Aug 2003 to Aug 2008 + 1.23% paid out + 15.84% paid out
2004 Aug 2004 to Aug 2009 + 1.02% paid out + 13.01% paid out
2005(1) Aug 2005 to Aug 2010 + 1.32% paid out + 17.09% paid out
2005(2) Dec 2005 to Dec 2010 + 1.04% paid out + 13.25% paid out
2006(1) May 2006 to May 2011 + 1.03% paid out + 13.09% paid out
2006(3) Aug 2006 to Aug 2011 + 0.66% + 8.17%
2006(4) Nov 2006 to Nov 2011 + 0.71% + 8.85%
2007(1) Apr 2007 to Apr 2012 + 0.30% + 3.60%
2007(2) Aug 2007 to Aug 2012 + 0.02% + 0.30%
2007(3) Dec 2007 to Dec 2012 + 0.39% + 4.78%
2008(1) Aug 2008 to Aug 2013 + 0.28% + 3.46%
2008(2) Aug 2008 to Aug 2013 + 0.60% + 7.41%
2008(4) Dec 2008 to Dec 2013 + 0.93% + 11.77%
2009(2) May 2009 to May 2014 + 0.64% + 8.00%
2009(1) Dec 2009 to Dec 2014 + 0.12% + 1.42%
2009(4) Dec 2009 to Dec 2014 + 0.35% + 4.31%
2010(1) Apr 2010 to Apr 2015 - 0.36% - 4.27%
2010(2) Apr 2010 to Apr 2015 - 0.33% - 3.89%
2010(3) Sep 2010 to Sep 2015 - 0.73% - 8.39%
2010(4) Aug 2010 to Aug 2015 - 0.71% - 8.23%
2010(5) Dec 2010 to Dec 2015 - 1.62% - 17.76%
2010(6) Dec 2010 to Dec 2015 - 1.63% - 17.87%

Figures shown are cumulative annualised returns since inception of each Tranche and are based on Net Asset Values (NAVs). NAVs are calculated after deducting subscription fees but before deducting performance fees, except the 2003 to 2006(1)Tranches which show the net paid out after all fees and the 2006(3) and (4) Tranches where an allowance is made for the anticipated performance fee. Portfolios are valued independently on a mid price basis by Liv-ex, the fine wine exchange (www.liv-ex.com). Please note that past performance is no guarantee of future performance, that the value of investments may fall as well as rise and that you may not get back the amount originally invested.