Prices for top claret is said to have gone up dramatically recently. The reason is not that retired Brits gulp down more Latour and Mouton than before. Rather, as often, it is a change in taxation and legislation that is the cause. From the beginning of next year British SIPPs (individual pension funds) will be allowed to invest in wine. (However, in spite of the name, it is not wine for drinking. The SIPP must be managed by a professional fund manager who is responsible to achieve maximum performance.) Some merchants believe strongly in this, e.g. Berry Brothers & Rudd, who have set up a special activity focused on SIPPs. Others doubt if fund managers will think wine a good investment. Some commentators say that the price rise is more a question of increasing demand from Asia. All according to various reports in Harpers, Decanter, OLN and the Circle Update.
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