While interest in timberland has grown in the past few years, skillful active management and significant due diligence are needed for investing in this asset class. This paper provides an analysis and outlook for timberland investing, including return expectations for U.S. timberland and the qualitative and quantitative considerations for investing in non-U.S. timberland. Exhibits cover…
This paper examines the diversification and inflation-hedging benefits of an allocation to real assets. Exhibits include correlation analyses, and performance data for representative commodities, energy, natural resources, and timberland managers.
This report analyzes the current environment for timberland investments, including sources of return and a breakdown of global supply and demand issues. Also included is a discussion of the relative merits of the four primary vehicles for timberland investment: commingled accounts, separate accounts, direct investing, and REITs and MLPs.
A primer on commodities including the policy argument for an allocation, sources of return, investment vehicles, correlations with other asset classes, and benchmarks.
A thorough presentation of the policy and strategic arguments for a commodities allocation, the impact of inflation on commodities’ performance, the special concerns for non-US$-denominated investors, and key implementation issues. Exhibits include data on performance under varying market and economic conditions, index correlations, and diversification benefits. Also included are representative manager factsheets and analyses of…