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Price moves are positive but wine investment market not yet 'normal' says specialist fund manager

Published:  22 July, 2015

A leading wine investment fund management company says that the fine wine market is "by no means back to anything that can be considered normal" despite a recent recovery in prices.

Wine Asset Managers said The Fine Wine Fund was up 0.9% in June and 3.4% in the first half of 2015, which it said was "good to get under the belt following the three-year price decline prior to that".

Its Fine Wine Investment Fund A and B shares were up 0.9% and 1% in June respectively, a rise of around 3% over the first half.

It added: "July and August will probably be soft and we may give a bit of this back, but at least we are now experiencing relative market stability at a time of global economic jitters."

The report follows a bullish assessment by the US investment analysis company Aranca which said last week that fine wine represented an "attractive investment alternative for long-term investors".

WAM said the recent retrospective appraisal of 2005 Bordeaux by Robert Parker had been "net positive" for its funds with four of its holdings - Haut Brion, La Mission Haut Brion, Cheval Blanc and Pavie - upgraded to 100 points.

"He went big on St Emilion and the whole process reminded us of how he is increasingly swayed by these big, extracted wines that are often more Napa than Bordeaux," WAM said.