French accountant invested in sparkling wine, Italian wine (8)
I believe the answer is:
frascati
'italian wine' is the definition.
'french accountant invested in sparkling wine' is the wordplay.
'french' becomes 'fr' (abbreviation).
'accountant' becomes 'CA' (abbreviation for chartered accountant).
'invested in' means one lot of letters goes inside another.
'sparkling wine' becomes 'asti' (I've seen this before).
'ca' placed inside 'asti' is 'ascati'.
'fr'+'ascati'='FRASCATI'
(Other definitions for frascati that I've seen before include "White Italian wine" , "It. town and wine" , "Italian city" .)