Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.3mb PDF) The increasingly competitive nature of timberland markets has created a perception by some that most of the value has already been extracted from the timberland investment space. In “Insights into Inefficiency and Manager Selection,” Chung-Hong Fu tested this theory by analyzing the long-term upper [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.3mb PDF) In conversations with investors, our experience suggests that they are often aware of some changes in the supply and demand outlook for wood products industry, but they often do not have a complete and informed perspective on the evolving dynamics of the sector. In [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.3mb PDF) As a follow up to the interest generated by “Timberland Investments: A Primer,” Hong has written a new white paper entitled “An Introduction to Global Wood Product Markets and Trade for Timberland Investors.” This paper examines how timber moves up the value chain from [...]

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 (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 [...]