Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (2.94Mb PDF) Markets for ecosytem services encompass 1) carbon credits; 2) conservation easements; 3) mitigation banking; and 4) recreational leasing. As demographics and public policy continue to shift, timberland bundle of rights which include these option values are growing in importance. In “Making Trees Greener: Opportunities [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (324Kb PDF) Institutional investors and even some managers will try to link biological characteristics of timber to fundamental investment characteristics such as risk, return, and investment term. How appropriate are these linkages though? Does investing in more mature timber actually lower the risk of timberland investing? [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.8Mb PDF) Wood bioenergy is taking center stage in the discussion on climate change and alternative fuels though little is reported in the popular media. According to some estimates, US wood demand will nearly double by 2023, and up to 40 percent of this increase will [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.63Mb PDF) During its early history, timberland investing was dominated by US institutions investing primarily in U.S. timberland. As the asset class matured, Americans began to expand their scope of investment opportunities to include regions outside the US. Today, the investor base has broadened further with [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (609Kb PDF) In the midst of the current financial crisis and in a climate of deteriorating returns, only a small handful of investment categories have maintained positive performance. How has timberland fared in the wake of this turmoil? More importantly, how will it perform over the [...]