As more millionaires in China develop expensive taste in wines, the country's first fund to invest in top French chateau labels has been launched to offer the rich an opportunity to cash in on their hobby Beijing-based Dinghong Wine Investment Fund will start a road show in Shanghai and Beijing on Saturday and Sunday to raise up to 1 billion yuan (HK$1.2 billion) within five years. Managers hope to raise 200 million yuan immediately. The fund will invest in fine wines produced in Bordeaux and Burgundy, two of France's most renowned winemaking regions. Around 60 per cent of the investment will be used to purchase bottled wines, while the rest will buy wine by the barrel. 'The China market is ready for such a financial product,' said Pacific Asset Management chairman Christie Ling Zhijun, who started the fund. She said wine culture was taking root in China with a growing number of enthusiasts who can afford top chateau wines such as Lafite and Mouton. The relatively stable returns expected from wine funds could also attract investors increasingly wary of stocks and property. 'You cannot get rich overnight investing in wine, but you can enjoy a handsome return, which would be little affected by the economic environment,' said Ling. Fine wines are become an increasingly sought-after investment worldwide. The Liv-ex Fine Wine 100 Index, a leading benchmark in the industry, has more than doubled since its launched in 2001. The benchmark comprises high-end wines, mostly from Bordeaux, Burgundy and Champagne, and from Italy. Wine sales will grow 32 per cent globally between 2009 and 2013, according to International Wine & Spirit Research. Chinese people are expected to drink around 1.2 billion bottles of wine annually by 2013, making China the seventh biggest wine consumer in the world.