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 [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (215Kb PDF) As we head into 2010, what has struck many investment professionals about the recession we have witnessed is how broad and deep the correction has been. Virtually no asset class has been unscathed. In this context, many look to the NCREIF timberland index and [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (813Kb PDF) The size of the global timberland investment market has historically been difficult to determine because of the private nature of timberland transactions and the lack of reliable, public data. On a regular basis though, the relative size of the marketplace has been used by [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (2Mb PDF) In 2004, Chung-Hong Fu, PhD published a white paper entitled “Timberland as an Inflation Hedge”. In this paper, the characteristics and historical return histories of timberland were evaluated to assess the effectiveness of timberland as an inflation hedge. This most recent installment, “Comparing Timberland [...]

Chris Curth: Managing Director Real Estate Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (920Kb PDF) Increasing land values within timberland portfolios have received unprecedented attention in the past few years. In many instances, investors recognize that land values are not appreciating because of the value for timber production, but rather because the land [...]