Projected Returns vs Reality: Maturation Curves, RLA and the Angel’s Share
  This is the annual evaporation from the cask. In Scotland, a common rule of thumb is 1.5% to 2.5% volume loss per year, varying by warehouse, cask type and climate. Evaporation reduces both bulk litres and RLA. ABV drift ABV usually falls slowly in cool, damp warehouses. If ABV drops below 40%, the spirit ceases to be whisky in law. No buyer wants to inherit that risk late in the curve....
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