Our Performance FiguresOur Performance Figures

The table below shows the average monthly performance of The Wine Investment Fund across all its Tranches since inception. This table is updated monthly.

The fine wine market's long run tendency to outperform more traditional asset classes continues unchanged, even though the market is still recovering from the worst downturn in its recorded history (-36% peak to trough, June 2011 - July 2014; source Liv-ex 100 Index). Importantly, this outperformance is achieved with lower volatility, which means that a fine wine holding provides risk reducing portfolio diversification.

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As a physical asset, wine is also a hedge against political/economic variability, including the return of inflation. Prices today are still cheap in historic terms (especially and importantly in US dollar terms).

 

   
TWIF Performance Index: 243.9
   
As at 31 August 2019
   
Performance Change
On Month: - 0.66%
Year On Year: - 3.33%
Year To Date: - 2.19%
Since initial NAV:
(March 2004)
+ 143.87%

 

Full TWIF Performance Index History

NAV
at end
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec % change on year

2004

    100.0 101.7 103.5 99.3 101.2 100.1 100.3 97.9 97.7 103.8 +3.79

2005

101.1 103.1 104.0 106.9 105.5 106.3 107.1 111.8 112.4 118.0 124.0 124.7 +20.19

2006

125.6 128.5 130.0 137.7 140.2 144.0 158.9 161.1 168.7 174.9 177.2 181.6 +45.55

2007

181.6 186.8 188.7 196.7 206.6 216.0 233.8 235.4 233.8 230.2 233.4 232.4 +28.00

2008

231.7 233.3 235.8 237.8 237.7 243.9 242.3 242.6 243.7 235.0 224.0 221.8 -4.55

2009

217.6 216.8 213.1 212.1 214.5 203.3 205.1 212.8 216.3 221.5 221.3 223.8 +0.88

2010

232.0 237.9 247.0 258.3 267.6 275.8 272.8 273.2 275.5 281.7 291.5 296.5 +32.50

2011

316.1 324.5 327.5 325.4 322.4 325.2 322.6 311.0 295.1 279.9 271.5 262.2 -11.56

2012

263.9 267.2 266.4 264.3 253.7 246.3 239.7 240.3 240.0 238.7 238.4 239.9 -8.52

2013

243.6 248.9 250.0 248.8 247.8 246.2 245.0 243.5 241.0 238.8 235.3 233.2 -2.79

2014

232.3 230.1 227.2 225.1 221.0 217.5 216.4 217.6 217.4 216.3 216.3 216.0 -7.36

2015

218.2 216.8 216.2 217.3 217.2 219.4 216.8 217.4 216.1 214.1 213.4 214.2 -0.81

2016

216.0 217.5 221.0 222.2 222.4 225.8 233.9 239.2 241.6 247.8 249.9 249.7 +16.56

2017

249.9 249.9 252.3 251.7 251.5 251.5 252.2 252.2 252.2 252.2 252.3 251.9 +0.88%

2018

252.1 251.7 250.9 250.6 250.7 252.6 252.1 252.3 254.3 252.4 250.6 249.3 -1.03%

2019

248.5 247.0 245.7 245.9 244.9 245.5 245.5 243.9         -2.19%


Notes 1. Performance figures are averages across all Tranches of the Fund active at the date in question.
  2. Averages are weighted by size of Tranche.
  3. Performance is after deducting performance fees (at point of payment) and before deducting subscription fees.
  4. For some of the early Tranches, a full NAV was not calculated every month, but portfolio values are available. For these months an estimate has been made using known NAVs and interpolating between these, using changes in portfolio value, so as to create a very good estimate of the actual NAV at those dates.
  5. Portfolios are valued independently on a mid-price basis by Liv-ex, the fine wine exchange. Prior to June 2009 the valuation was also taken from Liv-ex but on a 'best current list price' basis (effectively the best offer). Changing to a mid-price valuation resulted in a one-off reduction in NAVs of around 4.4% points across the Fund (reflected in the June 2009 performance in the table above). The change had no effect on the underlying assets or their performance. The newer methodology is now recognised as the 'gold standard' for wine valuations.

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 any amount originally invested.

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