The Whisky Investment Fund, the first of its kind, said that it closed on 30 June, raising a total of USD12 million in commitments from 50 private investors around the world.
Under a pilot of its exit strategy, the fund sold USD1.5 million retail value of rare whisky in Hong Kong over the past year to private clients, luxury retail, auctions and F&B outlets such as hotels and fine whisky bars, at a net profit for investors of 65%.
To date, USD9 million has been invested into a collection of over 14,000 bottles, which are being stored in an independent bonded storage facility in Scotland. The remaining USD3 million will be deployed over the next 12 months.
“Single malt whisky is not just a luxury good and a collector’s item, but also an investable alternative asset with good potential returns,” said Rickesh Kishnani, chief executive officer of Whisky Investment Fund.
He added that he expects the total collection to have a retail value of over USD20 million as the fund gets wound down over the next four years.
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