Chung-Hong Fu: Managing Director Economic Research and Analysis VIEW PDF Movements in lumber markets are often viewed as a leading indicator for timberland performance, with rising prices signaling stronger timber prices and improved portfolio returns. In reality, the relationship between lumber, timber, and timberland returns is more nuanced and less direct than commonly assumed. In [...]
Chung-Hong Fu: Managing Director Economic Research and Analysis VIEW PDF “Trees, Farms, and Office Buildings: A Quick Look at Real Assets’ 5-Year Record, 2021–2025” provides a retrospective analysis of real asset performance over the past five years. Institutional investors allocate to real assets as a means of enhancing diversification, with the objective of improving risk-adjusted [...]
Chung-Hong Fu: Managing Director Economic Research and Analysis VIEW PDF The ability to effectively value any type of asset is at the core of institutional investment decision making; timberland is no exception. The valuation process informs acquisition, management, and ultimately, disposition decisions. For timberland, the fundamentals apply but what distinguishes timberland is the sheer range [...]
Chung-Hong Fu: Managing Director Economic Research and Analysis VIEW PDF Over the years, we have seen many investors exploring the timberland asset class for the first time. The questions they ask and the reference points they use are always interesting—naturally shaped by their own backgrounds and experiences with other asset classes. This is to be [...]
Chung-Hong Fu: Managing Director Economic Research and AnalysisVIEW PDFTimberland investments delivered strong performance in the five-year period following the Covid-19 pandemic, outpacing other real assets such as commercial real estate and farmland. As returns begin to moderate, what is in store next? Does timberland still hold long-term value potential? This paper examines the key drivers [...]
