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.
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:
As at 28 February 2021
Year On Year:
Year To Date:
Since initial NAV:
Full TWIF* Performance History
|Jan||Feb||Mar||Apr||May||Jun||Jul||Aug||Sep||Oct||Nov||Dec||% change on year|
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.
6. Investors looking to track the performance of a particular Tranche they subscribed to in the past should email Lena Bruning at [email protected]
* The Wine Investment Fund is the collective name given to The Wine Investment Fund, The Wine Investment Fund Limited and The Wine Investment Fund Limited Partnership.
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.