Start by heating your oven to 165°C. Take your bundt pan and grease it well, then dust it lightly with flour so the cake won’t stick.
In a medium bowl, add the melted butter, sliced peaches, brown sugar, cornstarch, cinnamon, and nutmeg. Gently stir everything together until the peaches are coated. Set this aside while you make the batter.
In a large bowl, beat the softened butter, shortening, and white sugar together until the mixture looks pale and fluffy. Add the eggs one at a time, mixing well after each one so they blend smoothly into the batter.
Stir in the sour cream, almond extract, and vanilla extract, mixing until everything is creamy and well combined. In another bowl, whisk together the flour, baking powder, and cinnamon.
Add the dry ingredients to the batter in stages, alternating with the buttermilk. Mix gently and stop as soon as everything comes together don’t over mix.
Spoon half of the batter into the prepared pan and spread it evenly. Spoon half of the peach mixture over the batter. Add the remaining batter on top, and then finish with the rest of the peaches.
Place the pan in the oven and bake for about 80 to 90 minutes, until a toothpick inserted into the center comes out clean. Let the cake cool in the pan for about 15 minutes, and then carefully turn it out onto a cooling rack.
To finish, warm the peach preserves slightly, then stir in the powdered sugar and lemon juice until smooth. Once the cake has cooled, drizzle the glaze over the top before serving.