Cook shallot in butter in a 1 1/2-quart heavy saucepan over moderate heat, stirring occasionally, until golden, 3 to 5 minutes. Stir in remaining ingredients and simmer, uncovered, stirring occasionally, until berries have burst and chutney is thickened, about 20 minutes. Cool to room temperature.
Note: Chutney can be made 1 week ahead and chilled, covered.
Recipe courtesy of Gourmet Magazine