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Hey I'm Tracy Byrnes of the Fox Business Network welcome -- -- Favorite favorite time of the week wine with me I -- -- wind today actually I love this could.
-- two worlds are coming together business and -- Sergio asked as you know is with us that -- out managing director of the -- -- fun to talk about two seconds.
And CEO of the time wine merchants which will get to as well but the -- asset fund I loved this you've created a funds.
People can invest in and the the asset backing it is not a stock -- business folks like me talk about the lineup.
It's cool court how to come up with us.
Well I'll tell you didn't 2008 when the world -- -- and states we looked at the market really closely and try to figure out how we were gonna survive and what we realize is that it was a tremendous opportunity in Italy because it's such an inefficient market.
And so what we did is we -- of this structure how to bring.
Some kind of transparency to market and also some kind of legitimacy in the sense.
And and capitalize on -- that the idea is very simple we've night lines in a market as an efficient we hold them.
For a period of time and then we put them out in the market in -- very intelligent.
And -- them extra money back and ask why do you say Italy's inefficient.
Well it -- buddhism destruction -- -- or France does.
In other words you can buy directly from the producer of that line it's resold and there's no.
Tracking how the ones sold and now and appreciates overtime.
In board every one of those newspapers go to those -- -- -- -- -- properly keep -- in solid cases.
-- one back on the market when there's no -- man went to demand grows they put it back on the market higher prize.
And in Italy that doesn't happen once it's sold from the state it usually just gets traded and whenever knows what it's trading if the models properly stored or not.
If it's captain.
It's it was or what the provinces.
So you -- this -- where.
They're now we start tonight paving vaults in London London and and then from there we -- -- all around the -- what secretary to put up a wine in this fund it past that get better with how -- is no reason to hold the line back at the line is not gonna get better.
Over -- who's making that decision you that's myself.
-- board that house approval for this guy and so you're buying these winds can anybody invests.
Yes the first phone was relatively small ten million the next one will be about 25 million -- starting another -- we're starting the second -- -- this year.
The end of this year and that and there's a minimum which is going to be about 50000 and then.
And we choose our partners -- in the -- The first -- had a huge success with over -- 5% return and so far so there's a lot of requests from our original.
11 investors to -- up -- -- -- -- -- -- -- 2008.
Everything that we resold we've we've returned and that if he's over 35% and the -- and pipeline to be so.
Even -- so we'll close this fund with a 30% return.
-- -- -- -- -- Let's talk about your most recent purchase this is going in the new fund -- -- no this isn't the first voices in the first -- and sound so.
Beyond he's Santee is pretty Matt's.
Father and a.
And also the father of quality ones in the sense because they were really the first bottlers and Italy that bottled wines and 70% to fifty millimeters to him and then keep them for many years.
Back in case that might potentially have press that show and show the world that the lines kidney for very scientific finding -- -- it is because it's an actual I.
-- -- CNN national treasures at Manhattan has won it's called timeline merchants talk about that quickly before we have to go.
That's one of our US businesses and it's a business that I sort of tonight the united specializes in the timeline -- average I would -- in his campaign also in the few other things.
And we cater to collectors -- -- 40000 clients right and it's and he's from coming any time taste by that they can that we do so and most states will be can -- however around the country and our clientele.
Has portfolio managers that we were quick.
And we help them and service them.
Sergio I love what you do and Tavis I think it's Oakland and tell us quickly the web -- -- -- -- it's the time when merchants dot com.
I -- -- haven't timeline and get a fifty grand essence fun.
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