In recent years, with the upgrading of the domestic consumer market and the acceleration of the internationalization of consumer ideas, wine investment is favored by more and more investment collectors, and the pace of wine collection and investment has accelerated. China has become an emerging market where imported wine investors are competing to settle in.
At present, there are several ways to invest in wine in the international market:
First, it is to purchase finished wine to purchase "investment grade" wine in the secondary wine market and store it in the cellar of the top winery.
One form of investing in top wines is the purchase of finished wines, and the vast majority of investment grade wines are circulated through secondary market auctions. Usually wine deals are mostly conducted around traditional wine producing countries such as France, and the largest trading venue outside of origin is mainly the United Kingdom. Most of the wine trade in the United States is concentrated in Chicago.
For example, the BNP Paribas private bank started to help its customers in the Asia Pacific region to invest in French wines in 2006. In 2006, wine investment was hot. A large number of customers in the Asia-Pacific region purchased top wines through BNP Paribas Hong Kong’s private bank and deposited them in France. In a good winery. At that time, the starting point for investing in wine through private banks was more than 300,000 euros, or about 2.93 million Hong Kong dollars. According to personal bankers from BNP Paribas Hong Kong Branch, they generally buy investment-grade wine in the market at a wholesale price of 30% or 40% less than the market price. At the same time, customers can also transfer their own assets through investment in wine. Some assets remain in France's top global wineries.
Because in foreign countries, people are accustomed to go to wineries to buy wine directly, which can be cheaper than buying at an auction house, and can also save a lot of processing fees. Wines sold by the winery are divided into seasonal and current wines. The risk of wine is greater, because there will be climate and other uncertainties before bottling. After investing in new wines in March and April of each year, the winery will invite world-renowned wine tasting and wine merchants to formally set prices. This is the best time for investors to buy wine.
According to statistics, 20% of the customers investing in wine do not drink wine at all. The investment value of purely Chinese wine is considered to be 30%, and 50% are wine fans. It can be seen that investment in top wines is not just a patent for wine drinkers.
Second, the direct purchase of vineyards (high cost, large profits)
There is also a class of more top-notch investment methods that directly buy foreign wineries. International advanced wineries are wine production methods that combine planting, brewing, canning, and storage, from raw materials to finished wines, and around vineyards, including rigorous management methods and aristocratic business models. The investment cost is very high, but the rate of return is also quite high.
The private banker of BNP Paribas in Hong Kong said: “People want to invest in wine. The initial motivation must not be to obtain much income, but out of love, pleasure and a certain degree of dream to wine. Especially want to invest in wineries. For our customers, the most important considerations should be a unique and romantic environment for meeting with family and friends, as well as respect and love for wine.
Currently, some of the richest people in Europe have chosen some wine estates for investment. However, future buyers from Asia will be involved in the world wine market. So far, the amount of investment from Asia is still very small and fragmented. One of Australia's famous wine regions, the Hunter Valley area has two Malaysian companies stationed; some Taiwanese companies invest in New Zealand.
All over the world, most of the investors from Asia are Japanese. They own the Chateau de Leu&Ridge vineyards in California, the Von Buhl and Robert Weil vineyards in Germany, and the Castello de la Grande castle. These investors profit primarily through the sale of wine.
The areas that attract the most investment should be Bordeaux, which has a high reputation in Asian countries. Especially after the wines produced in 2003 and 2005 were widely praised, the Bordeaux industry was in short supply.
However, the French government may prohibit foreigners from buying so-called properties with historical and cultural protection. All along, they spared no effort to ensure that wineries that had fallen into the hands of foreigners (such as Latour Chateau, who was once owned by the British) were bought back by the French (the chateau is now owned by the Chanel executives who are born in France). In addition, even if you are lucky enough to buy a luxury property, the appreciation of this property may not be large. This kind of investment is very different from investment in apartments on Fifth Avenue in the United States, and prices have been relatively stable for many years. Fortunately, because of its reputation, every time the land is sold on the market, there is no shortage of buyers and it is particularly easy to get rid of.
For the acquisition of wine estates, a more reasonable approach is to follow the example of Lenovo Group’s acquisition of IBM and Nanjing Automobile to save British car brand MG-Rover. Take the ownership of well-known wineries by means of group mergers and acquisitions. Los Vascos in Chile and Quinta da Carmo in Portugal, both wines belong to the Lafite Winery, and the wine labels are very similar. Just imagine that if a group in China invests in a Lafite winery, the promotion of the brand will be enormous.
In fact, in the present era, there is no shortage of companies producing wine, or for sale wine estates: from the general land in Bordeaux to the Provence real estate owned by the Swedish liquor monopoly, and the Australian flag, producing the finest wine in the country's Seppeltsfield. Between real estate, the price difference is very large. The Montes Winery covers an area of ​​68 hectares and produces 240,000 bottles of wine which have recently been sold for 140 million euros. No matter what the standard, it is expensive. But only the top industries will reach this level. However, “unfamiliar†means that regardless of Europe, the Americas, or Oceania, the climate, environment, and geographical features are very different from those in Asia. Local people’s work and lifestyles are not the same. For this reason, Asians, especially domestic ones, are not necessarily the same. The home cannot measure this investment with a constant investment attitude. Many factors are difficult for buyers to predict based on experience. Therefore, no matter where you purchase your property, before buying it, it is necessary to listen to suggestions: August looks pretty good vineyards It may happen that frost occurs in April of each year (in Hawkes Bay, New Zealand, many people have to hire helicopters every year to protect the vineyards that are very vulnerable to frost).
The Bordeaux region has to consider the drainage factor. If the drain is not well maintained, you may have to spend a lot of money to clear the groundwater pipeline in the vineyard. Vine disease is another threat to the vineyard. You must determine the quality of the wine stagnation equipment and oak barrels. If the oak barrel encounters pests and diseases, you may have to replace each wooden barrel, or even every beam in the winery (as is the case with Borneaux Cannon). Then there is a small thing that is who will brew. Many people have discovered that on the eve of the harvest season, after the winemakers went on strike, they had to learn the hard winemaking methods themselves.
Even if you think well, you may not get the industry. In France, there is a system called SAFER which is used to approve transactions. The purpose is to facilitate the area's right to purchase a given transaction. In all parts of Europe, no matter what the situation, you must go through complicated official procedures before you can trade successfully. But this is not a bad thing because it can help you get used to the various bureaucratic procedures that you still face after becoming a brewer. Among them, the assessment of the price of wineries is particularly important. In France, there are two ways to assess the degree of real estate and the benefits it creates. Therefore, if the wine produced by a wine estate has only an appellation of origin and no brand, then the value of the wine must be assessed by looking at the land, buildings, stocks, and values ​​under its name. If there is a certain amount of profit, the usual way to evaluate the judgement is to multiply the annual income by 10-20. In France, value-added wineries are very advantageous. The Chablis domaine sold by Domaine Jean-Pierre X - a small label of Domaine Jean-Pierre X at the bottom of the label - can be added quickly only by re-sold and with the new label "Domaine+ new owner's name".
Third, it is the purchase of wine en primeur, which is a French term that originally meant "in its early stage" and was also the procurement process before the wine was bottled after the harvest was completed. Every spring, media reporters, agents and retailers go to Bordeaux to sample oak barrels for the first drink. Based on this tasting, agents and retailers price wines. After two years, these wines will be bottled and then delivered to customers. The foreign wine has already formed a complete industrial chain. The international market will provide financial audits and guarantees for wine traders from the period of wine sales, to wines with extremely high reference value, to auctions and other investment income channels. Finance, insurance and accounting agencies.
There is a saying circulating in the Tibetan investment industry that if two boxes of "periodic wine" are purchased at a time, after the wine is mature, investors can not only enjoy a box of fine wines themselves, but the income from selling another box of wine can buy two boxes of wine again. . Of course, this statement is somewhat exaggerated, but it is enough to show the value of wine investment. In fact, Tibetan wine investment has a history of more than 300 years in foreign countries, and its stable return on investment, as well as the characteristics of integrating investment and enjoyment, are increasingly sought after by investors.
After half a year’s harvest, Bordeaux’s brewers will sell 70% of the wine when the wine is in its old age to facilitate circulation of funds. When wine is produced, winemakers invite world-renowned wine tasting and wine merchants to formally price the wine. Usually, buyers do not actually get alcohol until 18 months after payment. Although Bordeaux's “periodic wine†pricing is not low, compared to the subsequent market price, this is often the lowest price that can guarantee the purchase of top wine. The four "periodic liquors" that were released in 2001 for the first two years have grown at an average annual rate of 25-36%, and by 2006, the cumulative increase has reached 100%-150%.
In general, since the sale, the price of wine will enter a rapid rise period of about five years, which is also a good time for investors to buy wine. In addition, investing in top wines is a long-term activity. Generally speaking, the 7-10 years after the launch of the "periodic wine" is the best time to return on investment. The trading of liquid wines is similar to the stocks of the stock market. Generally speaking, it is also the most rewarding investment method. Of course, the risk is also the greatest, because no one knows what the finished wine will be. For example, the Bordeaux wines of the 1997 vintage were overpriced due to the “period of wineâ€, which caused the price of wine in the following years to fall instead of rising.
Although the wine investment is a niche area, the wine collection is warming up globally. The lack of professional sales channels and professional identification agencies are the biggest obstacles to the investment of domestic liquor.
4. The direct investment of wine funds in various wine funds is a very popular method in Europe and America in recent years. The largest wine funds on the market today are the UK's Vintage Wine Fund, The Fine Wine Fund and Australia's International Wine Investment Fund. The current size of the three wine funds under the Financial Services Authority has reached 50 million pounds. These funds are very expensive, in addition to 2% of the annual management fee, but also based on the performance of the fund to receive 15% of the proceeds. But compared to the double-digit annual rate of return, the cost is still worth the cost.
Take the top wine fund as an example. Since its release on February 20, 2003, the cumulative increase in net value has been as high as 49.51%. The wine fund is mainly traded in the financial markets of the United States, Britain, France, and Australia. The wine fund of the wine growth fund company registered in the Cayman Islands has grown nearly fourfold from 2003 to the present and has fallen sharply in the global stock market in the first half of this year. Under the circumstances, the growth rate reached 12.12%.
Although wine investment is still a niche market at present, with the introduction of new policies and the rapid development of emerging markets, wine investment will form a huge market in five years, and there are some indexes that describe wine prices, such as wine filters. The Decanter Index, the Bordeaux Index, etc. will gradually become the targets tracked by some wine funds. Since the proposal of the UK's inclusion of wine in individual pension investment plans in December 2004, several agencies have started to brewing different types of wine funds. The Brewery Fund was newly launched on August 21, 2006, although it was not a long time. However, the cumulative increase as of the beginning of 2007 has also reached 7.9%.
Similar to the purchase of “periodic wineâ€, the investment period of the wine fund is usually 5 to 10 years. Before the expiration of the term, investors may choose to redeem the fund and exchange the wine or cash ratio. However, due to the processing fees, etc., If the fund does not have a large increase, it will not be worth the candle.
In Hong Kong, the Chateaux Management Group, headquartered in France, is the only company in Hong Kong that currently sells wine funds. It launched two wine funds in July 2002 and September 2003, respectively, with minimum subscription amounts of 10,000 and 50,000, respectively. The two funds raised $300,000 and $1 million each and purchased more than 1400 wines and 2,300 wines respectively, of which mainly red wine.
At present, foreign private banks in the country are designing and launching new wealth management products that combine investment and life. The first early adopter is the “ultimate wine fund†of Societe Generale. Unlike other foreign private banks that launch more financial products linked to commodities, the Industrial Wine Bank’s ultimate wine fund is the first product that allows customers to participate in the investment appreciation process. The “Extreme Wine Fund†is issued at least once before the grape harvest season in January-February each year. The basic funds for each raise are 3 million US dollars, and the minimum investment amount is 300,000 US dollars each, which is not capped. The uniqueness of this fund is that it combines investment and collection, and customers can choose to sell for profit or collect as favorite.
After investing in the “ultimate wine fundâ€, customers will face the investment closure period in the first year. During this period, Societe Generale will select wines suitable for investment together with its professional wine management partner FICOFI. The selected wine standards are generally produced in famous wine producing areas in Bordeaux and Burgundy, and scored 95 points in a magazine called “WineAdvocate†(“Wine Aficionadoâ€) founded by famous wine critic Robert Parker. Quality wine between 100 points.
After a one-year closure period, investors will have the option to sell each quarter. If the client believes that he has obtained appropriate income, he can entrust the auction house with the French bank to auction the wine under his name. Of course, the client can also choose to continue holding the collection, which is retained by the French Societe Generale entrusted by the Chateau and professional wine institutions. In addition to being able to choose when to sell wine, investors can choose whether or not to invest in the wine. Regardless of the circumstances under which investors need to share their wines with family, friends or business partners, they can arrive and arrange tastings at the French Societe Generale bank through advance booking.
With the promotion of the wine fund business, domestic companies have also begun to involve them. In the middle of 2008, the top winery trust wealth management products of Junding Winery were jointly launched by ICBC, China Ocean Trust, and COFCO. The corresponding trust plan for this product is the right to receive the 2006 wines of dry red wine held by Junding Wines. One barrel is used as a subscription unit and the investment period is 18 months. The product is designed in two ways - the first is after the wine is bottled, the investor proposes a consumption application for wine to ICBC, then the bank will provide the red wine for the consumption in kind according to the annualized rate of 8%. . Another way of income is that after 18 months, investors distribute cash management income in cash. Junding Wines will buy back unexecuted wine in accordance with the previous agreement. The repurchase price will also be based on an annualized income of 8%. Implemented and guaranteed by COFCO Wines, a subsidiary of COFCO, for the repurchase.
The China CITIC Bank UN Investment Trust and COFCO launched a period of wine investment products that are very similar to ICBC’s futures wealth management products. Investors also purchase beneficiary rights under the property trust, except that CITIC Bank’s products require investors to purchase cash management products after they purchase the wealth management products. The winery issued a Notice of Repurchase and Change of Beneficiary Rights. If no relevant notice is issued, Junding Wines will automatically repurchase the beneficial rights from its hands and pay the entire purchase price with the actual wine as the consideration. We learned from the financial planners of some wealth management centers of ICBC that the current wine products are still in the appointment stage. However, in terms of their early communication with customers, most investors have achieved an expected annualized income of 8%. The product is still very interesting.
Previously, as the average mid to high-end wines were privately traded between some wine lovers and merchants, there were relatively few news and channels. As wine investment is increasingly accepted by investors, there will be more and more high-end customers joining the field of wine investment, and the wine investment channels provided by banks will undoubtedly provide risk-avoidance for those early investors. Opportunity.
At present, there are several ways to invest in wine in the international market:
First, it is to purchase finished wine to purchase "investment grade" wine in the secondary wine market and store it in the cellar of the top winery.
One form of investing in top wines is the purchase of finished wines, and the vast majority of investment grade wines are circulated through secondary market auctions. Usually wine deals are mostly conducted around traditional wine producing countries such as France, and the largest trading venue outside of origin is mainly the United Kingdom. Most of the wine trade in the United States is concentrated in Chicago.
For example, the BNP Paribas private bank started to help its customers in the Asia Pacific region to invest in French wines in 2006. In 2006, wine investment was hot. A large number of customers in the Asia-Pacific region purchased top wines through BNP Paribas Hong Kong’s private bank and deposited them in France. In a good winery. At that time, the starting point for investing in wine through private banks was more than 300,000 euros, or about 2.93 million Hong Kong dollars. According to personal bankers from BNP Paribas Hong Kong Branch, they generally buy investment-grade wine in the market at a wholesale price of 30% or 40% less than the market price. At the same time, customers can also transfer their own assets through investment in wine. Some assets remain in France's top global wineries.
Because in foreign countries, people are accustomed to go to wineries to buy wine directly, which can be cheaper than buying at an auction house, and can also save a lot of processing fees. Wines sold by the winery are divided into seasonal and current wines. The risk of wine is greater, because there will be climate and other uncertainties before bottling. After investing in new wines in March and April of each year, the winery will invite world-renowned wine tasting and wine merchants to formally set prices. This is the best time for investors to buy wine.
According to statistics, 20% of the customers investing in wine do not drink wine at all. The investment value of purely Chinese wine is considered to be 30%, and 50% are wine fans. It can be seen that investment in top wines is not just a patent for wine drinkers.
Second, the direct purchase of vineyards (high cost, large profits)
There is also a class of more top-notch investment methods that directly buy foreign wineries. International advanced wineries are wine production methods that combine planting, brewing, canning, and storage, from raw materials to finished wines, and around vineyards, including rigorous management methods and aristocratic business models. The investment cost is very high, but the rate of return is also quite high.
The private banker of BNP Paribas in Hong Kong said: “People want to invest in wine. The initial motivation must not be to obtain much income, but out of love, pleasure and a certain degree of dream to wine. Especially want to invest in wineries. For our customers, the most important considerations should be a unique and romantic environment for meeting with family and friends, as well as respect and love for wine.
Currently, some of the richest people in Europe have chosen some wine estates for investment. However, future buyers from Asia will be involved in the world wine market. So far, the amount of investment from Asia is still very small and fragmented. One of Australia's famous wine regions, the Hunter Valley area has two Malaysian companies stationed; some Taiwanese companies invest in New Zealand.
All over the world, most of the investors from Asia are Japanese. They own the Chateau de Leu&Ridge vineyards in California, the Von Buhl and Robert Weil vineyards in Germany, and the Castello de la Grande castle. These investors profit primarily through the sale of wine.
The areas that attract the most investment should be Bordeaux, which has a high reputation in Asian countries. Especially after the wines produced in 2003 and 2005 were widely praised, the Bordeaux industry was in short supply.
However, the French government may prohibit foreigners from buying so-called properties with historical and cultural protection. All along, they spared no effort to ensure that wineries that had fallen into the hands of foreigners (such as Latour Chateau, who was once owned by the British) were bought back by the French (the chateau is now owned by the Chanel executives who are born in France). In addition, even if you are lucky enough to buy a luxury property, the appreciation of this property may not be large. This kind of investment is very different from investment in apartments on Fifth Avenue in the United States, and prices have been relatively stable for many years. Fortunately, because of its reputation, every time the land is sold on the market, there is no shortage of buyers and it is particularly easy to get rid of.
For the acquisition of wine estates, a more reasonable approach is to follow the example of Lenovo Group’s acquisition of IBM and Nanjing Automobile to save British car brand MG-Rover. Take the ownership of well-known wineries by means of group mergers and acquisitions. Los Vascos in Chile and Quinta da Carmo in Portugal, both wines belong to the Lafite Winery, and the wine labels are very similar. Just imagine that if a group in China invests in a Lafite winery, the promotion of the brand will be enormous.
In fact, in the present era, there is no shortage of companies producing wine, or for sale wine estates: from the general land in Bordeaux to the Provence real estate owned by the Swedish liquor monopoly, and the Australian flag, producing the finest wine in the country's Seppeltsfield. Between real estate, the price difference is very large. The Montes Winery covers an area of ​​68 hectares and produces 240,000 bottles of wine which have recently been sold for 140 million euros. No matter what the standard, it is expensive. But only the top industries will reach this level. However, “unfamiliar†means that regardless of Europe, the Americas, or Oceania, the climate, environment, and geographical features are very different from those in Asia. Local people’s work and lifestyles are not the same. For this reason, Asians, especially domestic ones, are not necessarily the same. The home cannot measure this investment with a constant investment attitude. Many factors are difficult for buyers to predict based on experience. Therefore, no matter where you purchase your property, before buying it, it is necessary to listen to suggestions: August looks pretty good vineyards It may happen that frost occurs in April of each year (in Hawkes Bay, New Zealand, many people have to hire helicopters every year to protect the vineyards that are very vulnerable to frost).
The Bordeaux region has to consider the drainage factor. If the drain is not well maintained, you may have to spend a lot of money to clear the groundwater pipeline in the vineyard. Vine disease is another threat to the vineyard. You must determine the quality of the wine stagnation equipment and oak barrels. If the oak barrel encounters pests and diseases, you may have to replace each wooden barrel, or even every beam in the winery (as is the case with Borneaux Cannon). Then there is a small thing that is who will brew. Many people have discovered that on the eve of the harvest season, after the winemakers went on strike, they had to learn the hard winemaking methods themselves.
Even if you think well, you may not get the industry. In France, there is a system called SAFER which is used to approve transactions. The purpose is to facilitate the area's right to purchase a given transaction. In all parts of Europe, no matter what the situation, you must go through complicated official procedures before you can trade successfully. But this is not a bad thing because it can help you get used to the various bureaucratic procedures that you still face after becoming a brewer. Among them, the assessment of the price of wineries is particularly important. In France, there are two ways to assess the degree of real estate and the benefits it creates. Therefore, if the wine produced by a wine estate has only an appellation of origin and no brand, then the value of the wine must be assessed by looking at the land, buildings, stocks, and values ​​under its name. If there is a certain amount of profit, the usual way to evaluate the judgement is to multiply the annual income by 10-20. In France, value-added wineries are very advantageous. The Chablis domaine sold by Domaine Jean-Pierre X - a small label of Domaine Jean-Pierre X at the bottom of the label - can be added quickly only by re-sold and with the new label "Domaine+ new owner's name".
Third, it is the purchase of wine en primeur, which is a French term that originally meant "in its early stage" and was also the procurement process before the wine was bottled after the harvest was completed. Every spring, media reporters, agents and retailers go to Bordeaux to sample oak barrels for the first drink. Based on this tasting, agents and retailers price wines. After two years, these wines will be bottled and then delivered to customers. The foreign wine has already formed a complete industrial chain. The international market will provide financial audits and guarantees for wine traders from the period of wine sales, to wines with extremely high reference value, to auctions and other investment income channels. Finance, insurance and accounting agencies.
There is a saying circulating in the Tibetan investment industry that if two boxes of "periodic wine" are purchased at a time, after the wine is mature, investors can not only enjoy a box of fine wines themselves, but the income from selling another box of wine can buy two boxes of wine again. . Of course, this statement is somewhat exaggerated, but it is enough to show the value of wine investment. In fact, Tibetan wine investment has a history of more than 300 years in foreign countries, and its stable return on investment, as well as the characteristics of integrating investment and enjoyment, are increasingly sought after by investors.
After half a year’s harvest, Bordeaux’s brewers will sell 70% of the wine when the wine is in its old age to facilitate circulation of funds. When wine is produced, winemakers invite world-renowned wine tasting and wine merchants to formally price the wine. Usually, buyers do not actually get alcohol until 18 months after payment. Although Bordeaux's “periodic wine†pricing is not low, compared to the subsequent market price, this is often the lowest price that can guarantee the purchase of top wine. The four "periodic liquors" that were released in 2001 for the first two years have grown at an average annual rate of 25-36%, and by 2006, the cumulative increase has reached 100%-150%.
In general, since the sale, the price of wine will enter a rapid rise period of about five years, which is also a good time for investors to buy wine. In addition, investing in top wines is a long-term activity. Generally speaking, the 7-10 years after the launch of the "periodic wine" is the best time to return on investment. The trading of liquid wines is similar to the stocks of the stock market. Generally speaking, it is also the most rewarding investment method. Of course, the risk is also the greatest, because no one knows what the finished wine will be. For example, the Bordeaux wines of the 1997 vintage were overpriced due to the “period of wineâ€, which caused the price of wine in the following years to fall instead of rising.
Although the wine investment is a niche area, the wine collection is warming up globally. The lack of professional sales channels and professional identification agencies are the biggest obstacles to the investment of domestic liquor.
4. The direct investment of wine funds in various wine funds is a very popular method in Europe and America in recent years. The largest wine funds on the market today are the UK's Vintage Wine Fund, The Fine Wine Fund and Australia's International Wine Investment Fund. The current size of the three wine funds under the Financial Services Authority has reached 50 million pounds. These funds are very expensive, in addition to 2% of the annual management fee, but also based on the performance of the fund to receive 15% of the proceeds. But compared to the double-digit annual rate of return, the cost is still worth the cost.
Take the top wine fund as an example. Since its release on February 20, 2003, the cumulative increase in net value has been as high as 49.51%. The wine fund is mainly traded in the financial markets of the United States, Britain, France, and Australia. The wine fund of the wine growth fund company registered in the Cayman Islands has grown nearly fourfold from 2003 to the present and has fallen sharply in the global stock market in the first half of this year. Under the circumstances, the growth rate reached 12.12%.
Although wine investment is still a niche market at present, with the introduction of new policies and the rapid development of emerging markets, wine investment will form a huge market in five years, and there are some indexes that describe wine prices, such as wine filters. The Decanter Index, the Bordeaux Index, etc. will gradually become the targets tracked by some wine funds. Since the proposal of the UK's inclusion of wine in individual pension investment plans in December 2004, several agencies have started to brewing different types of wine funds. The Brewery Fund was newly launched on August 21, 2006, although it was not a long time. However, the cumulative increase as of the beginning of 2007 has also reached 7.9%.
Similar to the purchase of “periodic wineâ€, the investment period of the wine fund is usually 5 to 10 years. Before the expiration of the term, investors may choose to redeem the fund and exchange the wine or cash ratio. However, due to the processing fees, etc., If the fund does not have a large increase, it will not be worth the candle.
In Hong Kong, the Chateaux Management Group, headquartered in France, is the only company in Hong Kong that currently sells wine funds. It launched two wine funds in July 2002 and September 2003, respectively, with minimum subscription amounts of 10,000 and 50,000, respectively. The two funds raised $300,000 and $1 million each and purchased more than 1400 wines and 2,300 wines respectively, of which mainly red wine.
At present, foreign private banks in the country are designing and launching new wealth management products that combine investment and life. The first early adopter is the “ultimate wine fund†of Societe Generale. Unlike other foreign private banks that launch more financial products linked to commodities, the Industrial Wine Bank’s ultimate wine fund is the first product that allows customers to participate in the investment appreciation process. The “Extreme Wine Fund†is issued at least once before the grape harvest season in January-February each year. The basic funds for each raise are 3 million US dollars, and the minimum investment amount is 300,000 US dollars each, which is not capped. The uniqueness of this fund is that it combines investment and collection, and customers can choose to sell for profit or collect as favorite.
After investing in the “ultimate wine fundâ€, customers will face the investment closure period in the first year. During this period, Societe Generale will select wines suitable for investment together with its professional wine management partner FICOFI. The selected wine standards are generally produced in famous wine producing areas in Bordeaux and Burgundy, and scored 95 points in a magazine called “WineAdvocate†(“Wine Aficionadoâ€) founded by famous wine critic Robert Parker. Quality wine between 100 points.
After a one-year closure period, investors will have the option to sell each quarter. If the client believes that he has obtained appropriate income, he can entrust the auction house with the French bank to auction the wine under his name. Of course, the client can also choose to continue holding the collection, which is retained by the French Societe Generale entrusted by the Chateau and professional wine institutions. In addition to being able to choose when to sell wine, investors can choose whether or not to invest in the wine. Regardless of the circumstances under which investors need to share their wines with family, friends or business partners, they can arrive and arrange tastings at the French Societe Generale bank through advance booking.
With the promotion of the wine fund business, domestic companies have also begun to involve them. In the middle of 2008, the top winery trust wealth management products of Junding Winery were jointly launched by ICBC, China Ocean Trust, and COFCO. The corresponding trust plan for this product is the right to receive the 2006 wines of dry red wine held by Junding Wines. One barrel is used as a subscription unit and the investment period is 18 months. The product is designed in two ways - the first is after the wine is bottled, the investor proposes a consumption application for wine to ICBC, then the bank will provide the red wine for the consumption in kind according to the annualized rate of 8%. . Another way of income is that after 18 months, investors distribute cash management income in cash. Junding Wines will buy back unexecuted wine in accordance with the previous agreement. The repurchase price will also be based on an annualized income of 8%. Implemented and guaranteed by COFCO Wines, a subsidiary of COFCO, for the repurchase.
The China CITIC Bank UN Investment Trust and COFCO launched a period of wine investment products that are very similar to ICBC’s futures wealth management products. Investors also purchase beneficiary rights under the property trust, except that CITIC Bank’s products require investors to purchase cash management products after they purchase the wealth management products. The winery issued a Notice of Repurchase and Change of Beneficiary Rights. If no relevant notice is issued, Junding Wines will automatically repurchase the beneficial rights from its hands and pay the entire purchase price with the actual wine as the consideration. We learned from the financial planners of some wealth management centers of ICBC that the current wine products are still in the appointment stage. However, in terms of their early communication with customers, most investors have achieved an expected annualized income of 8%. The product is still very interesting.
Previously, as the average mid to high-end wines were privately traded between some wine lovers and merchants, there were relatively few news and channels. As wine investment is increasingly accepted by investors, there will be more and more high-end customers joining the field of wine investment, and the wine investment channels provided by banks will undoubtedly provide risk-avoidance for those early investors. Opportunity.
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