New liquidity opportunity for collateral managers 02 November 2011London Reporter: Anna Reitman
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Loan Against, an arm of Prestige Asset Management, is accepting blue-chip wines as sole collateral for loans, according to Decanter.com.
The company will provide tax-deductible loans of between £100,000 and £10 million for purchases of wines including Bordeaux first growths, super seconds, top right bank wines and other blue chip properties.
Quoted in Decanter, James Constantinou, managing director at Loan Against, said, "We create instant liquidity for UK and offshore-based investors who are looking to acquire fine wine at auction or through private sale."
Possibly it could be the next big thing for clearing houses after gold?
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