Where does timberland fit in an investment portfolio?
• Timberland is most commonly placed within a real estate or real asset portion of a portfolio, but it also may be incorporated as an alternative or natural resource allocation. In a diversified portfolio, timberland can complement other asset classes of shorter time horizons, including real asset investments focused on long-term growth. This is because timberland returns have a low to negative correlation to both public and private real estate, as well as to stocks and bonds.
