Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.1mb PDF) As global interest in renewable energy grows, a string of new investments have been made in recent years in power and biofuel plants and wood pellet mills that require large quantities of wood fiber. For timberland investors, this emerging market for woody fuel stocks [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (2.3mb PDF) The link between new homebuilding and timberland investment is an obvious one, but the correlation between these two economic sectors is not well understood. How important is new homebuilding to timberland investment success? What has been the impact of the housing downturn on timberland [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.7mb PDF) It happens at different stages but at some point investors realize that the timberland asset class is not as simple as they initially imagined when they started their research. Much of the complexity comes from the inherent heterogeneity of the properties that are acquired [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (578Kb PDF) The NCREIF Timberland Index is a topic of increasing interest to institutional investors and investment consultants. In the past several years, while the public markets have experienced quite a bit of turbulence, questions have been raised about the veracity of the Index and how [...]

Tom Johnson: Managing Director DOWNLOAD (716Kb PDF) An investor’s goal for any asset class is to determine what type of exposure is appropriate given risk and return objectives. Traditionally, style classifications help investors set expectations about how a particular manager or strategy will perform in a given market environment. This determination provides the strategic clarity that [...]