Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (2.2Mb PDF) Some timberland investors have expressed concern that softwood sawlog markets in the U.S. South, the largest investable timberland region in the world, have languished since the fallout of the U.S. housing market in 2007. This extended downturn in southern sawlog markets is important to investors [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.7Mb PDF) This white paper discusses TIR's strategic view of the macroeconomic factors that have challenged timberland investment since the “Great Recession.”  It also explains why the asset class has not recovered as quickly as other real assets and outlines the factors that suggest a more dramatic [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.7Mb PDF) Timberland investment management professionals often find themselves working with investors who are focused on building their portfolio's exclusively with "core timberland" assets because they are interested in attaining "pure" exposure to the asset class.  Such investors often have limited appetites for acquiring timberland that also [...]

Chung-Hong Fu: Managing Director Economic Research and Analysis DOWNLOAD (1.6Mb PDF) One of the first things investors learn about the timberland asset class is that it offers three primary sources of investment return: (1) biological growth; (2) timber price appreciation; and, (3) land price appreciation. In large part because of a popular article published in 1998 [...]