Performance Figures

Graph

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

Net asset value % change since inception, as at 31 December 2009
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 + 1.11% + 14.19%
2005(2) Dec 2005 to Dec 2010 + 0.80% + 10.05%
2006(1) May 2006 to May 2011 + 0.64% + 7.92%
2006(3) Aug 2006 to Aug 2011 + 0.36% + 4.36%
2006(4) Nov 2006 to Nov 2011 + 0.69% + 8.54%
2007(1) Apr 2007 to Apr 2012 - 0.10% -1.23%
2007(2) Aug 2007 to Aug 2012 - 0.51% -5.90%
2007(3) Dec 2007 to Dec 2012 - 0.34% -3.97%
2008(1) Sep 2008 to Sep 2013 - 0.26% -3.13%
2008(2) Sep 2008 to Sep 2013 - 0.10% -1.22%
2008(4) Dec 2008 to Dec 2013 + 0.51% +6.34%
2009(2) May 2009 to May 2014 + 0.40% + 4.90%

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 and 2004 Tranches which show the net paid out after all fees and all expenses. Portfolios are valued independently on a mid price basis by Liv-ex, the fine wine exchange (www.liv-ex.com).