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CHEERS TO ENHANCED PORTFOLIO PERFORMANCE: WINE AS A UNIQUE ASSET CLASS

Mesias Alfeus et al.

International Journal of Theoretical and Applied Finance2025https://doi.org/10.1142/s0219024925500128article
AJG 2ABDC B
Weight
0.41

Abstract

This study has two main goals: first, to construct a new South African Fine Wine (SAFW10) index using a repeat-sales regression methodology [M. J. Bailey, R. F. Muth & H. O. Nourse (1963) A regression method for real estate price index construction, Journal of the American Statistical Association 58 (304), 933–942] based on the 10 best performing wines that confirm high-quality and liquidity and are highly desirable assets. Second, it examines the effects of adding this new wine index to a broader investment portfolio. Our analysis reveals that including South African wine assets can improve portfolio growth rates and diversification in line with the literature on wine investment [P. Masset & C. Henderson (2010) Wine as an alternative asset class, Journal of Wine Economics 5 (1), 87–118; L. W. Sanning, S. Shaffer & J. M. Sharratt (2008) Bordeaux wine as a financial investment, Journal of Wine Economics 3 (1), 51–71]. This study is the first attempt to develop a wine index in the South African market, adding a valuable option to the financial instruments available to investors in developing markets.

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https://doi.org/https://doi.org/10.1142/s0219024925500128

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@article{mesias2025,
  title        = {{CHEERS TO ENHANCED PORTFOLIO PERFORMANCE: WINE AS A UNIQUE ASSET CLASS}},
  author       = {Mesias Alfeus et al.},
  journal      = {International Journal of Theoretical and Applied Finance},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1142/s0219024925500128},
}

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Evidence weight

0.41

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.25 × 0.4 = 0.10
M · momentum0.55 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

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