I am searching for a mutual funds that invest primarily in wine and/or
wine companies/distributors.  A sufficient answer will contain the URL
for these companies if applicable, the minimum investment, and other
pertinent information.  Also, it doesn't necessarily have to be a
mutual fund...it could be an ETF or other investment vehicle.  I do
not want a list of individual wine stocks.  I have this and can build
my own portfolio this way, but would prefer to invest in an
established fund.

I have identified several investment vehicles of the type you
requested.  Please note that some may be closed to new investors and
that UK and US investors may face difficulties in investing in some of
them because they are based offshore and are therefore not permitted
to market themselves to US and UK citizens.  However, it appears that
US and UK investors may be free to approach the firms directly and
legally purchase these investments.

"The Vintage Wine Fund"
http://www.vintagewinefund.com/funddetails.html.  ?100,000 minimum
subscription.  Invests in fine wines.

"The International Wine Investment Fund"
http://www.iwif.com.au/about_us.html.  Listed on the Australian Stock
Exchange.  Invests in wine businesses, 80% of which are Australian.

"First Wine Fund" http://www.firstcorp.com.au/fwf.html.  A Pooled
Development Fund. Invests in small and medium Australian wine
enterprises.

"Orange Wine Fund" http://www.orangefund.com/beleggingsfondsen/fondsen/beursgenoteerd/OWF.asp.
 Invests in wines and wine companies.

"Amphora Fine Wine Fund"
http://amphorafinewinefund.com/offerdetails.htm.  Invests in wines.

"AWM Wine Fund" Company does not appear to have a website.  This
document contains the firm's mailing address:
http://www.progs4wealth.com/funds/awm/AWMSchemeParticulars.pdf.  One
source suggests it has a minimum investment of $25,000 and that it is
currently closed:  "AWM Fine Wine Fund" Programmes for Wealth
International http://www.progs4wealth.com/funds/awm/awm_fine_wine_fund_limited1.htm.
 Fund invests in wines.

I am including some articles on wine funds because they describe the
difficulties US and UK citizens have investing in many of these
vehicles because they are located offshore, as well as the potential
hazards of such investments:

"Footnotes" Edited by Toddi Gutner, BusinessWeek (March 7, 2005)
http://www.businessweek.com/@@PuYHDYQQgephDg0A/magazine/content/05_10/c3923147.htm

"What's Next, The Robert Downey Jr. Mutual Fund?" by Julie Watson,
Forbes (08.07.01) http://www.forbes.com/2001/08/07/0807funds.html

"Vicarious Investing: Funds That Focus on Truly Liquid Assets" By
CONRAD DE AENLLE, The New York Times (June 17, 2001)
http://64.233.179.104/search?q=cache:iOtKkuC7MPEJ:gk.nytimes.com/mem/gatekeeper.html%3FURI%3Dhttp://www.nytimes.com/2001/06/17/business/17WINE.html%26OP%3D54ef7ae8Q2FQ23Q26PTQ23Jj8Q2BcjjQ3BQ7EQ23Q7EggIQ23gHQ23IQ2FQ23TmQ2BbwPQ2BQ2BQ23IQ2F-Q60SBOUQ3BqQ7D+%22Ascot+wine+management%22&hl=en

"Can art and wine beat the markets?" Investment International (2004)
http://www.investmentinternational.com/specialF/Can_art_and_wine_beat_the_markets.htm

The articles reference a small "Wine Investment Fund" in Australia
separate from "The International Wine Investment Fund."  This article
indicates the "Wine Investment Fund" no longer exists with that name
or purpose:  "Authorised Investment Fund Limited Announces AUD$500,000
Deal" Yahoo! Australia & NZ Finance (October 30, 2005)
http://au.biz.yahoo.com/051030/42/dvzi.html

Search terms:  "wine fund"; "wine funds"

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Request for Answer Clarification by herkdrvr-ga on 23 Jan 2006 01:56 PST

Wonko--

Youy have provided an excellent response.  Before I rate and close out
the question--I didn't realize that the funds were primarily off-shore
(no doubt a revelation gleaned from your research)--can you find any
similar offerings in the U.S.?

Thanks,

Herkdrvr

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Clarification of Answer by wonko-ga on 23 Jan 2006 13:34 PST

Thank you for your kind comments.  After further research, I located
"Vintage Wine Trust," the only US REIT focused on the wine grape
industry.  Its web site is http://vintagewinetrust.com/company/.

I also found something called "Vice Fund," which has about 25% of its
assets invested in alcohol-related businesses, including wine.  The
rest of its investment strategy may or may not appeal to you.  An
article on it is available at: "The Cons of Vice" by Jonathan Shazar,
Institutional Investor (December 2, 2005)
http://www.institutionalinvestor.com/printer.asp?SID=601437&ISS=21027&HEADLINE=The%20Pros%20Of%20Vice&PUB=31.

The BusinessWeek article indicated that Richard Bakal, executive
director of the Wine Trust, was planning to open a fund called Wine
Trust II in the US in the next 18 months.  Information for contacting
him can be found at: http://www.thewinetrust.com/frameset.htm.

Sincerely,

Wonko

Excellent primary answer.  Fully answered my question.  Wonko was
gracious enough to provide a comprehensive clarification.  Thank you
very much!  Regards,
Herkdrvr