Rising fears that traditional investing has become a
lose-lose proposition have a growing number of wealthy folks seeing dollar
signs in niche funds that invest in art, wine, musical instruments and even
classic cars, the New York Post reports. They’re known as “collectible” funds or
“treasure” funds, and while they come with plenty of skeptics and potential
pitfalls, they’re also promising returns reminiscent of the days before the
Great Recession.
Sergio Esposito, founder of Union Square’s wine shop Italian
Wine Merchants, said the wine fund he helped start in 2010, The Bottled Asset
Fund, has been doing so well he hopes to launch another next year. After selling its first batches of wine this
year, the $8.2 million fund is now seeing profits upward of 30 percent, he
said. Try getting that out of the S&P 500 or even smart-money
hedge funds.
It’s not just wine funds that are promising mouthwatering
returns….Last year, a group that included Pink Floyd’s drummer, Nick Mason,
kicked off a fundraising campaign for a vehicle that would invest in classic
cars. The goal for the fund, which has yet to launch: annual returns of 15
percent a year, according to Bloomberg…..
Read more:
http://www.nypost.com/p/news/business/vintage_returns_M3VjPkRiMdc8S0BY37Wp7I#ixzz225LnaZ8p
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