Miriam Mascherin and Michel Tamisier, two former Carmignac Gestion Luxembourg’s senior executive managers are the founders of Elite Advisers, a company specialized in investment advisory services. Their goal is to bring back “positive” emotions into finance. Wine is their first investment theme.
In 2008, they launched Nobles Crus, a Luxembourg Sicav investing in the top graded wines and that has registered since launch a performance of 27.65%.
The rarity and the age of wines are obviously selection criteria in the composition of the portfolio. The fund only invests in vintage wines and en primeurs, with a maximum of 70 per cent in the millesimes (Latour, Romanée Conti, Cheval Blanc, Petrus and Haut Brion), 20 per cent in en primeurs and 10 per cent in cash.
The managers rely on emerging countries high demand for grands crus and a largely fixed supply to keep prices on a permanent upward trend.
Nobles Crus is managed by Christian Roger, and his team of 10 persons. He benefits from 20 years international banking experience. He is a permanent member of the Grand Jury Européen de dégustation ((European Grand Jury of Wine Tasting)
The fund has a monthly net asset value allowing subscription or redemption. The valuation of wine is computed using 5 price lists: two from wine merchants in Europe and the United Kingdom, one from a reference site: winesearcher.com and two from auction houses like Christie’s and Sotheby’s. Prices for wine merchants as well as those of auction houses included in the valuation are transaction prices.
Nobles Crus has been awarded Best 2008 Innovative Fund by both belgian newspaper Cash and Luxembourg’s Tageblatt
