Welcome to our December edition, where we are delighted to announce the appointment of Michael Spencer, a long-time Bordeaux Index supporter and client, as our non-executive chairman. BI founder and Managing Director Gary Boom expresses our sentiments best: "We are delighted Michael has agreed to join us as Chairman. With his unrivalled knowledge of the financial markets and love of fine wine, I am sure he will make a substantial contribution to the next phase of our growth."

In addition to our overall Bordeaux Index report, HK MD Doug Rumsam gives unique insight into Q3 of Hong Kong's 2011 wine market, and a forward view to 2012. In both London and Hong Kong, the festive season is in full swing – read on as the BI team takes you along to wine dinners, tastings and events, commenting upon the best in fine wine along the way.

We hope you enjoy the read.

Bordeaux Index has appointed Michael Spencer as Chairman. Michael Spencer is the founder and Group CEO of ICAP, the world's leading interdealer broker and member of the FTSE 100 index. In addition, IPGL the privately owned financial services investor has acquired a minority shareholding in Bordeaux Index.

Michael Spencer said: "Since it was established 15 years ago Bordeaux Index has become one of the most innovative and fastest growing of the major international fine wine merchants. I am delighted to become a shareholder and non-executive Chairman of this great firm and work again with my close friend and former colleague Gary Boom."

Whilst the wild gyrations of the equity markets showed no signs of abating (FTSE was down nearly 8% mid- month), it would be quite wrong to see November as a continuation of a gloomy October, as turnover increased sharply (up over 25%) and, where the price was right, there was a clear appetite for big deals to be done.

Meaningful trends are difficult to determine over the very short run but it is clear that the highly speculated brands and vintages are experiencing the sharpest pull-back as investment, as opposed to consumption, demand continues to stand on the sidelines waiting for the moment.

The end of En Primeur signalled a slowdown in the fine wine market in HK. But this was nothing unusual - August is traditionally the slowest month of the year. September was forecast to be a strong month with the Mid Autumn festival on the calendar.

The festival came and went and prices softened a little, which prompted renewed activity. As stocks in China funnel through to end clients and business picks up again, so the volumes start to creep up. No one can afford to sit on the sidelines when there are deals to be made!

The trend for value now seems to have truly taken off. It hasn't taken too long for mainland consumers to work out there's more to life than Lafite…and on that note we see Burgundy beginning to take off. Still, all the drinkers need not panic just yet; I think the complicated network of growers and wines will mean it's a tough transition from the relative safety of Bordeaux - Bordeaux will always be in the thick of the action.

Bordeaux Index got behind Italian wines in a big way some time ago and after several tastings and events in London, it was fantastic to finally bring the party of growers to Hong Kong, a gang that included ‘La Leggenda’ Roberto Voerzio, Elisa Scavino and Jurij Fiore of Poggio Scalette.

Of course when one gets the chance to visit the vineyards and wineries in any great region your perception and understanding of those wines gets completely transformed. However, to spend time with the winemakers themselves, to witness their passion and to understand and appreciate the personality behind the wine takes your understanding to another level altogether.

Everyone is aware of the generosity and kindness of Spanish people, and this was proven once again during a memorable dinner organised by the renowned Muga Estate and BI’s sales team.

The dinner took place at L’Albufera, an excellent Spanish restaurant in Central London. The menu was composed of the finest and most traditional dishes of the Rioja region, each hand-selected to perfectly complement the evening’s wines. A live flamenco guitar player strummed Paco de Lucia in the background, and proprietor Manu was constantly available for his guests, strolling around the table and sharing with us his wines’ characteristics and the passion the team puts into their work.

A big THANK YOU to Manu and Pepe for a great evening! Hasta pronto…

Certain combinations just work; Lennon & McCartney, Shearer & Sheringham, Cheech & Chong, Siegfried & Roy (minus the tiger of course), and when they do they can often transcend the sum of their parts. In the list of great food and wine combinations, somewhere near the top of the list you’ll find Truffles and Burgundy. During one of the HK Wine Calendar’s busiest weeks I found myself lucky enough to attend a cheeky truffle and Burgs fiesta at the BI canteen; Amuse Bouche.

The scene: Otto e Mezzo Bombana HK, with the extremely talented Chef Bombana on-hand, his truffle shaver at the ready...

We began with two champagnes: NV Jacques Selosse Cuvee Substance which always hits the spot. Bags of flavour in this complex wine. Only 300 bottles made, so enjoy it if you can find it! Notes of fallen apples, citrus, and much more with that charming oxidative style...on the money. 
93 pts - Doug Rumsam, MD of BI HK

On to the first of the reds: 1961 Clos de La Roche Rousseau. Boy was this good. Big smoky whiff straight off the bat. Followed by dried bitter cherries, smoked meat and plenty of gentle fruit. Excellent finish. This is a treat. 
93 pts - Doug Rumsam, MD of BI HK

1993 Vosne-Romanee 1er Cru “Les Suchots” Confuron Cotedidot
A stunning, beautifully mature Vosne that shows just how good Burgundy can be when it’s given patience to fully evolve… Still with a sweet core of black cherry and mellow plum fruit, from which so much more emanates… Smoked meats, truffle, hints of bitter chocolate, and so much more. Can’t help but make you grin.
95 pts - Simon Eddleston, Private Sales

2007 Leoville Poyferre
Tasted at Hix Oyster and Chop House restaurant. The wine is typically Bordeaux in style, yet is somehow modern, soft and easy-going, a great 2007. Medium bodied, it is a complex wine full of black fruit flavour and hint of chocolat.
92+ pts - Christopher Jaubert, Purchasing