The wine investment fund was founded in 1989 under the name "Wine Trust of Australia" (WTA) with the aim of holding shares in wine companies, in particular in the well-known Australian wine multinational Hardy (today Accolade Wines). In 1996, it was listed on the ASX (Australian Stock Exchange) as the Australian Wine & Horticultural Fund (AWHF). In April 2000, shareholders approved a change of name from AWHF to IWIF (International Wine Investment Fund). Since then, investments have been made in over 16 different wine companies, over 80% of which are based in Australia. The IWIF is a regulated managed investment scheme within the definition of the Companies Act of Australia. It is the largest publicly listed wine investment company in the world and has delivered profits to its shareholders through both distributions and capital growth since inception. Investments are held in excellent Australian companies with substantial wine assets. These include Fosters Group, McGuigan Simeon Wines and National Vineyard Fund of Australia (NVFA). International holdings include Groupe Laroche and Gabriel Meffre (France), Constellation Brands and Vintage Nurseries (USA), as well as major wine merchants such as Bibendum Wine and Vinoceros (UK).
The IWIF's objectives are top income and capital growth for shareholders on a global basis. Through the fund, shareholders can invest in many quality wine companies in Australia and the rest of the world. Berren Asset Management Limited (BAM), with its many wine and financial experts, is the responsible manager of the IWIF. It was also established in 1989 to manage the original fund WTA. It then managed the IPO and all legal changes. In July 2000, a supervisory board was created, as well as a management and consulting team with extensive experience in both the wine and financial worlds. In July 2005, BAM appointed the "Wilson Asset Management Group" as investment manager, as well as an investment committee consisting of experienced experts from the wine and financial world to assist in the investment management activities. BAM's largest shareholder, the "International Wine Consultants", have access to further experience through their associated offices in Paris, New York, Napa Valley and Sydney. See also under Viticultural Institutions and Largest Wine Companies in the World.