Elite Advisers' Nobles Crus wine fund suspended by CSSF – Luxembourg's financial authority

From Elite Advisers website

From Jim's Loire:

The CSSF decided to suspend the Nobles Crus wine fund on 27th May 2013 because it coud not meet the requested redemptions. On 31st May Miriam Wilson and Michel Tamisier, general partners in Elite Advisers/Elite Partners, informed their investors of the suspension. It may be significant that it would appear that it was the CSSF who stepped in rather than at the request of Elite Advisers/Elite Partners. 

Read the rest here. 

Nobles Crus Wine Fund: are the Burgundy valuations realistic?

In the cellars of Patriarche (Beaune)

Yesterday I posted on Jim's Loire an extended and updated version of the news report, which was published on decanter.com on Monday 8th October. It includes more details on some of the Burgundies that form part of the fund. Although I have only looked at a small sample of the Burgundies in the fund, it does suggest that the questions raised on the valuation of this fund extend beyond Bordeaux. 

The controversy over the valuation of the Nobles Crus wine fund certainly points to  the need for an agreed way of valuing wine funds so that investors can judge and compare their respective performances using a valuation that is both robust and independent. 

Link to post on Jim's Loire.