London — Fine wine investors will be raising their glasses as their returns for the year are set to outperform UK blue-chip shares and gold. The index charting the movements of 1,000 leading fine wines on the secondary market, the Liv-ex 1000, had gained 11.3% at the end of November in pound terms from the start of the year, setting a record high thanks to increasing interest in wines from Burgundy and Italy. This compares with pound-denominated gains of 1.4% for gold in sterling terms and a return of 6.6% for the FTSE 100 by the same local currency measure, which also includes the reinvestment of dividends for the year ending November 30. Fine wine merchants in the secondary market are predominantly based in London and the market is traded in sterling.

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