The Liv-ex 1000 index – our broadest measure of the market – rose 0.77% in a strong start for the year. This is the fifth consecutive month of gains for the index, which now stands +3.8% over the past year.
The best performing sub-index in January was the Burgundy 150, which rose 1.88%. The index’s performance had stalled following its surge through to late 2018 but since March 2020 it has found a more positive footing. Driven most recently by the performance of DRC and Grand Cru white Burgundy, the Burgundy 150 has seen gains in seven of the last nine months to turn positive over the year (+2.25%).
The second best performing sub-index was the Rhone 100 which reached a historical milestone, surpassing 200 for the first time in the index’s 18-year history – the Rhone 100 is up 7.37% over the past year. Read more in our recent extended Rhone report.
The Champagne 50 rose 1.07% in the month and now leads sub-index performance over one year. Of the 17 years since its inception, the index has only declined in 31% of the measured months, the least of any major sub-indices.
The Bordeaux Legends 40 added 0.53% and the Bordeaux 500 rose 0.45%. The smallest of risers was the Rest of the World 60, up 0.19%.
The Italy 100 saw a small drift, -0.51% but remains the second-best sub-index over the course of a year.
Annual changes to the Liv-ex indices
The Liv-ex 1000 index was updated in January. Along with annual vintage progression (removing ’07 or ’08 and adding ’17 or ’18), changes were made to some individual sub-indices driven in the most part by liquidity considerations.
In the Rhone 100, Auguste Clape, Cornas was replaced with Domaine de la Janasse, Chateauneuf du Pape Vieilles Vignes. This brought the index back to a 50/50 split of Northern and Southern Rhone, reflecting current trade.
Antinori, Guado al Tasso was removed from the Italy 100 and replaced with Soldera (Case Basse), Toscana Sangiovese.