Upcoming changes to Custody Fees
From 1st March, we will be increasing the cost of storage from £0.175 per LPA per annum to £0.192 per LPA per annum. Below, we explain our reasons for the increase and why we think ownership of maturing Scotch remains a compelling proposition.
As you know, the monthly storage fees represent the cost of storing and insuring the maturing whisky you own. We are charged by our warehouse partners for the storage of your whisky, and we pass this cost on to you in the form of these fees.
Over the last year, many inflationary factors have combined to present warehouse owners, along with many others, with increasing costs. The storage costs we are charged have increased, and we have taken the decision to increase our own custody fees in line with this.
This increase represents a rise lower than inflation over the period since the platform launched, however we fully understand that this change will concern many of our customers. As always, we intend to be fully transparent, and we have provided some analysis on how this may affect your investment going forward. As far as we are aware, our storage fees remain the lowest available for investment in casked whisky, and we are committed to maintaining this in the long term.
Regular Investor Reward
Regular Investors will continue to receive a rebate of 2p per LPA on all custody fees charged in the period, effectively paying £0.172 per LPA going forward.
If you have any questions regarding this change, please feel free to contact us to discuss.