I have been drinking cask-conditioned beers for more years than I care to think about and can well remember some outstanding brands that have long since vanished from the scene, albeit that, in some cases, the name lingers on but usually in a packaged format and bearing scant resemblance to the original. Boddington’s Bitter, the ‘Cream of Manchester’, comes immediately to mind; a stunningly dry, hoppy and, at the time, unusually pale brew which enjoyed a fine and deserved reputation for value and quality. It did not take Whitbread very long to put an end to all that once they had acquired the company.
Another victim of the Whitbread brewery steamroller was Wethered’s of Marlow, whose traditional, malt tinged tawny bitter enjoyed a similar reputation in the home counties, while Tetley Bitter, when brewed in its rightful home in Leeds, had managed to cultivate almost legendary status. Sadly, there were also far too many smaller breweries up and down the land who succumbed to predatory takeovers during the 1970s and 80s, with the consequent loss of more than a few highly respected, quality beers such as those from Higson’s of Liverpool, Morland’s of Abingdon, who had the splendid claim to be ‘Artists in Brewing since 1711’ and Webster’s of Halifax. At the same time, most of the major breweries in this country had lost interest in real ale; keg was king. It was less demanding, benefited from a much longer shelf life and made life so much easier for those running the pubs. There would be no tapping and venting of barrels or worries about having to add finings to clarify the stuff, indeed, all you probably needed to know was how to use a large spanner!
It was against this background that I joined CAMRA in its early days, keen to help try and reverse this trend and to maintain as much as possible of our brewing heritage. Over the coming years I took part in branch activities, joined protest marches and rallies and even lobbied parliament on more than one occasion, but I was still looking for some way to become more directly involved in the whole business of brewing and retailing beer and in particular, real ale. I then discovered the existence of the CAMRA Members’ Investment Club (CMIC), a group that maintains a low profile but is comprised entirely of CAMRA members who have effectively decided to put their money where their mouths are by contributing modest monthly sums towards a fund, which invests exclusively into businesses directly or indirectly involved in the production and/or distribution of cask- conditioned beer.
From its humble beginnings, the CMIC fund has grown to a value well in excess of £20 million and is managed by a committee of twelve elected Campaign members, who between them have a broad level of expertise in investment fund management, tax planning and the brewing industry itself. Sizeable holdings in major brewers such as Marstons, Heineken and Greene King, as well as pub owning businesses including Young’s and M&B provide us with the right to attend AGMs and therefore the opportunity not only to ask searching questions of the board but very often also to bend the ear of individual directors after formal business is complete.
At the other end of the scale, we have also provided limited financial support to a small and very carefully chosen number of established microbreweries such as Loch Lomond, Nethergate, Bedlam and even a couple in Belgium! Needless to say, foremost in the committee’s mind is that we are custodians of other people’s money and the degree of investment risk in every decision made is always of paramount importance. On the social front, brewery visits both here and overseas are arranged from time to time and are usually over-subscribed, while the CMIC’s own AGM is held every June, invariably at the splendid Victoria Hotel in Beeston (near Nottingham), and is one of the highlights of the year in many members’ calendars. The buffet lunch has become almost legendary!
The Fund is run along the lines of a unit trust and CAMRA members can invest from as little as £5 per month up to a maximum of £166 (£2,000 per annum). All dividends received are reinvested in order to enhance the overall investment performance, so no income is payable but members can withdraw their own funds at any time without penalty. It must be remembered, however, that investment performance, although very creditable to date, cannot be guaranteed and that the value of any monies invested can go down as well as up. So, if you are a CAMRA member and fancy joining a sister wing of the Campaign that is able to campaign quietly behind the scenes through direct access to influential people within the brewing industry, combined with the very real possibility of turning a profit at the same time, why not find out more about us? Go to: www.cmic.uk.com.
John Westlake