Wine funds : an alternative turning sour?

Masset, Philippe ( Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland) ; Weisskopf, Jean-Philippe ( Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland)

This article examines the performance, selectivity, and market-timing abilities of wine fund managers over the 2000–2013 period. The authors hypothesize that wine fund managers should be able to profit from market inefficiencies on the wine market and generate abnormal returns for investors. Their results show that fund managers’ overall selectivity and market-timing abilities appear to be limited. Only one fund offers positive risk-adjusted returns and two funds show a tendency for market timing. Considering non-quantifiable risks, wine funds thus do not appear to be interesting investments.


Article Type:
scientifique
Faculty:
Economie et Services
School:
EHL
Subject(s):
Economie/gestion
Date:
2015
Published in:
Journal of alternative investments
Numeration (vol. no.):
Spring 2015, vol. 17, no. 4, pp. 6-20
DOI:
ISSN:
1520-3255
Appears in Collection:

Note: The status of this file is: restricted


 Record created 2015-10-01, last modified 2018-12-20

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