Boozing investors! World’s first whisky fund to launch in Hong Kong
on 17/03/14 at 11:58 amBooze News
The fund is being launched with a target commitment of US$10 million and a minimum subscription of US$250,000. It is being administered by Sinopac Solutions & Services. It expects to launch in June this year.
“The fund is a closed-ended, structured private equity investment vehicle that provides unique access to an increasingly rare product,” said Rickesh Kishnani, the fund’s chief executive officer. “We bring our inside knowledge of the whisky industry to bear in the sourcing of rare product from a proprietary network at under-market prices and this also allows us to trade stock at premium values,” he added
Annual sales of single malt Scotch whisky increased by 190% from US$390 million to US$1.1 billion in the past 10 years, according to the Scotch Whisky Association, driven by the relative scarcity of the premium, vintage product
Investment Grade Scotch (IGS) indices produced by Whisky Highland UK show that in the last three years sales of the top 1,000 single malts were up 130%, the top 250 single malts up 200% and the top 100 single malts up 230%.