1、RHONE INVESTMENT REPORT CONTENTSMARKET REVIEW 4CULT WINES PERFORMANCE 6MARKET OUTLOOK 7 Northern Rhone 8 Southern Rhone 9CULT WINES INVESTMENT VIEW 10CULT WINES|WINEINVESTMENT.COM3KEY POINTS:The unique characteristics of both Northern and Southern Rhone wines and a string of quality vintages between

2、 2015-2019 form the foundation of a compelling investment.Rhone wines are a source of stable returns with low price volatility compared to other wine regions.Although long-term absolute returns have lagged some higher-growth regions,Rhones recent growth has been strong,and it represents a potential

3、break out region going forward.Cult Wines extensive fine wine knowledge combined with our proprietary quantitative analysis can help us uncover the wines most likely to outperform.CULT WINES|WINEINVESTMENT.COM4MARKET REVIEWMARKET REVIEWAlthough Rhone is traditionally viewed as a slow but steady regi

4、onal market,it is posting some impressive growth figures to keep pace with a red-hot fine wine market.The Liv-ex Rhone 100 index has grown by 11.59%over the past 12-months(as of 30 September 2021),helped by star producers delivering some impressive figures as their brand recognition continues to gro

5、w,especially in the important Asia region.FIGURE 1 Star producers buoy Rhone growthSelect producers 2-year and 5-year returns*0.0%20.0%40.0%60.0%80.0%100.0%120.0%140.0%160.0%180.0%200.0%Auguste Clape,CornasDomaine Jean Louis Chave,Hermitage,Rouge Thierry Allemand,Cornas Reynard Pignan,Chateauneuf-du

6、-Pape Chateau Rayas,Chateauneuf-du-Pape 2-Year Return5-Year ReturnThe return of more normal economic activity in 2021 alongside rising demand for real assets,such as fine wine,amid inflation concerns is lifting Rhone prices along with the wider market.The suspension of US import tariffs on many Euro