Oeno Group has launched its first regulated fine wine investment fund, the Oeno Wine Investment Fund, while also announcing the availability of the Oeno Fine Wine & Whisky Fund – targeting investors looking for consistent returns and resilient alternative assets.
Tiago Stattmiller, Oeno Group’s Regional Director in Portugal, said: “The global fine wine market is valued at more than $5bn, with sustained growth expected as more investors turn to tangible assets in volatile economic contexts. The new fund, structured as a Portuguese UCI (Collective Investment Undertaking), is designed to capitalise on the fine wine sector’s strong historical returns and its low correlation with traditional assets.”
Michael Doerr, CEO of Oeno Group, said: “We have created a vehicle that allows investors to benefit from our unique market access and expertise, while maintaining the security and transparency of a regulated structure.”
Data suggests that over the past 15 years, fine wine has posted an average annual return of 10.6%, according to the Liv-ex Fine Wine 1000 Index, thereby outperforming many global equity indices and even gold during periods of economic instability.
Oeno is seeking to raise an initial EUR20m, with the minimum investment set at EUR50,000 for qualified investors. The fund will focus on acquiring wines with high potential for appreciation, from elite producers in prestigious regions such as Bordeaux, Burgundy, Champagne, among others. It will incorporate ESG criteria, to ensure ethical and sustainable acquisitions. The fund will be managed by FundBox, which is regulated by Portugal’s CMVM.
Oeno said that between 2018 and 2023, its private client portfolios achieved average annualised returns of over 12%, driven by strategic acquisitions and understanding global wine demand dynamics. The company has developed close relationships with the wineries and collectors around the world, which it says gives a competitive advantage in acquiring rare, investment-quality bottles at favourable prices. The asset class has a historically low correlation with stocks and bonds. With limited supply of top-quality wines and growing demand in Asia and the Middle East in particular, there is support for long term price growth.
Launching the fund is also about democratising access to fine wine, Oeno says. It also introduces a new asset class to the firm’s home market, Portugal, as investing in fine wine was reserved traditionally for collectors and investors in cities such as London, New York or Hong Kong.
Whisky
Oeno Fine Wine & Whisky Fund, a closed ended alternative investment fund structured as a RAIF (Reserved Alternative Investment Fund), seeks to tap into an investment market expected to grow from some $3.8bn in 2023 to $6bn by 2030, driven by growing demand from collectors, investors and enthusiasts, particularly in Asian and Middle Eastern markets.
The Knight Frank Luxury Investment Index suggests that rare whisky has increased in value by 322% over the past decade, outperforming categories such as contemporary art, classic cars, and even fine wine. The new fund will be headquartered in Portugal and open to qualified and non-qualified investors with a minimum investment of EUR50,000 – although Oneo recommends a minimum of EUR100,000.
The fund will focus on acquiring and managing rare casks and bottles from Scottish, American, Japanese and Irish distilleries, with a focus on limited editions, discontinued whiskies and collections highly coveted by private collectors and auction houses.
Stattmiller said: “Whisky combines history, scarcity, and a passionate global market. This fund offers investors a structured and secure way to participate in a market that is experiencing unprecedented appreciation. With the Whisky Reserve Fund, we are bringing to Portugal an investment opportunity that was previously virtually unheard of in the country. It is a tangible, emotional asset class with an excellent performance track record – perfect for those seeking real diversification outside of traditional financial markets.”
According to Rare Whisky 101, average cask prices have increased by between 12% and 15% per year over the past decade, with some casks increasing in value by over 20%, especially for rare editions or those from closed distilleries.
Unlike other collectables, whiskey barrels have a natural appreciation in value: the liquid improves with age, and its rarity increases as global demand grows, and supply remains limited. In addition, investors can choose to keep the barrels aging or bottle them later, creating limited editions with high market value.
In addition to focusing on returns, the Whisky Reserve Fund values producers that incorporate ESG criteria, which respect sustainable production practices, as well as traceability and ethics in the origin of the assets.
Oeno says that management of the fund will be provided by a team of experts with proven experience in the luxury spirits market, supported by technological platforms for asset tracking, dynamic market assessment and diversified liquidity strategies – including sales on secondary markets, international auctions and collaborations with premium distributors.
