New wine index released
Fine wine shows 12.6% compound growth according to the Liv-ex Fine Wine Investables Index. The Index backdates prices to 1988 creating a price benchmark and greater transparency in the value of fine wines. James Miles, director of Liv-Ex comments that investment in fine wine “has a 20 year record of generating strong returns.”
The index base was 16 points in January 1988 increasing to 209 points in May 2009. The index has risen 5% so far in 2009 following a 13% fall in 2008.
Live-ex say that the data adds to the evidence that fine wine can be a useful tool for portfolio diversification.