AUSTRALIA: IWIF faces another vote on future

Berren Asset Management, which runs the International Wine Investment Fund, is tonight having to convince unitholders to vote "no" once more on a motion calling for the Fund to be wound up.

The motion is being brought by the same shareholders who lost a similar motion in Adelaide in July.

Berren boss Chris Day said the Riverland investors, who hold 35% of the Fund, hold the key to getting a strong "no" vote.

"If we can get a very strong turnout of all the owners up there and, as you know there's 800 of them, then we expect to be able to get a very strong 'no'," Day said. "We don't want the wine fund wound up."

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