Vitreo Gestão, a house that is part of the Empiricus Group, announced this Monday (6th) the launch of the investment fund “Empiricus Oeno Vinhos Finos”, the first product in the manager’s portfolio that seeks opportunities for gains in the wine market. luxurious.
The fund, exclusively for professional investors (with more than R$ 10 million in financial investments), was structured with the manager and administrator of wines Oeno Asset, a company that is part of the English group of the same name and that arrived in Brazil this year.
Developed as an FIM (Multimarket Investment Fund), Empiricus Oeno Vinhos Finos requires an initial investment of R$ 50 thousand. The fund has an offshore structure based in the Cayman Islands and a local version that mirrors the foreign fund.
Whoever makes the investment in the master fund, based abroad, will be able to redeem it in bottles of wine or the equivalent value. Among the wines that should be in the new fund’s portfolio are names such as Domaine de la Romanee-Conti, Henri Jayer Echezeaux Grand Cru, Petrus, Egon Muller and Boerl & Kroff. According to the manager, on average, labels range from R$50,000 to R$100,000, but some may even exceed that amount.
The fund has an absolute return benchmark, with an expected return of 10% in pound on Liv-Ex, the London fine wine stock exchange. The return projection is in sterling because the custody of the assets is in the United Kingdom.
“Our objective is to strengthen the image of the manager as a house increasingly specialized in alternative investments in Brazil”, said George Wachsmann, CEO of Vitreo Gestão, in a note. “This time, we are doing it with what the market calls passion assets, which are assets that stir the passion of those who invest, which happens with investors who like to put their resources in works of art or old cars, for example.”
“Fine wines are active with their own fundamental dynamics of supply and demand. They have an inelastic supply, there is no way to increase production to meet all global consumption and demand. Furthermore, we work with the best wines in the world , which already have a history of hundreds of years,” said Victor Hugo Cotoski, Senior Portfolio Manager at Oeno Group.
According to the wine manager and administrator, the selection of wines will take into account criteria such as geographic diversification, liquidity and potential for return. “Investing in wine is investing in a real dollarized asset,” added Cotoski.
Calculations pointed out by the specialist indicate that an investor who had invested, in 2000, around R$ 100 thousand in a portfolio with the best wines from the Bordeaux and Burgundy region would today have around R$ 2 million.
The expectation of the two managers is to raise R$ 100 million in the first year of operation of the fund.
I have over 8 years of experience in the news industry. I have worked for various news websites and have also written for a few news agencies. I mostly cover healthcare news, but I am also interested in other topics such as politics, business, and entertainment. In my free time, I enjoy writing fiction and spending time with my family and friends.
