Investors shocked by fine wine verdict

Some investors and private wealth management firms stand to win big on fine wine - following an unexpected verdict on last year’s Bordeaux vintage by one of the most respected critics in the world.

Robert Parker, whose judgement is widely recognised as having the power to move markets, has shocked the cognoscenti by offering high praise for the 2008 wines, the Financial Times reports.

Chateau Lafite Rothschild was even given a mark of 98-100 out of 100 by the American critic.

This is despite last summer’s far-from-ideal weather conditions, which had led other industry experts to pronounce the Bordeaux crop a failure.

Mr Parker’s remarks are likely to provoke a price spike for the wines on futures markets, boosting returns for certain institutional and private investors who have already snapped up some of the vintage.

The effect of the comments are likely to be exacerbated by the price cuts of up to 40 per cent Bordeaux producers were offering for the 2008 wines.

Simon Staples, sales director at UK wine traders Berry Bros & Rudd, told the newspaper: ’All the Chateaux that haven’t released will put their prices up.’

Stephen Browett at Farr Vintners added: ’Parker is more upbeat than anyone else. A lot of people think it’s a good vintage but he thinks it’s a fantastic one.’ADNFCR-2318-ID-19155258-ADNFCR