Investors looking for drinkable alternative assets now have an option besides wine: Whisky.
"Across the globe, most high net worth and ultra-high net worth individuals are putting anywhere between four and six percent of their overall asset allocation into alternative investments," such as wine and art, said Rickesh Kishnani, CEO of the Platinum Whisky Investment Fund. "We're giving the opportunity to put single malt whisky on that map."
Unlike wine, which can be perishable, whisky stops aging once it's been bottled and it's possible to hold the investment longer.
The fund is looking to raise around $10 million, with a minimum subscription set at $250,000, aiming for a launch date in June. Kishnani said the fund raised around $2.5 million so far this week in Hong Kong.