Monthly newsletter for March 2022
Firstly, we hope that all our friends are well, and that your loved ones are safe during these difficult times. It’s pretty amazing what can happen in the space of a month, with Russia and Ukraine in a full-scale war, markets tumbling across the globe, and inflation continuing its relentless rise.
Given all this craziness in the markets, real assets such as gold and whisky continue to buck the trend. We did face some real headwinds with the forex markets whipping us around and the GBP/SGD declined more than 2% when we closed the books for the month. However, as reported over the last 2 months, whisky auctions have been very slow with very few bottles coming up for sale. So when they do, we have seen significant pops in valuation due to pent up demand.
Our Karuizawa’s in particular have had an amazing month, with the Karuizawa 1965 Single Sherry Cask 50 Year Old jumping by +48%, to £43,000. We also saw the Karuizawa 1981 Single Sherry Cask 35 Year Old gain +40%. Given this, the good news is that we saw the portfolio return an eye-popping +3.71% this month for our investors. This makes it our second best year on record thus far, with one more month to go to close out the books for our third year of operations.
Marek, Marc, Neil, Gary