%0 Journal Article %A Kurt Akers %A Renato Staub %T Regional Investment Allocations in a Global Timber Market %D 2003 %R 10.3905/jai.2003.319074 %J The Journal of Alternative Investments %P 73-87 %V 5 %N 4 %X With timberland increasingly being considered for inclusion in institutional portfolios due to its diversification potential, sophisticated investors need a reliable methodology by which to evaluate a proper timber portfolio. Evaluating the true investment characteristics of the asset class has historically been difficult due to infrequent valuations. Globalization of the timber industry has also accelerated in recent years, creating a need for an allocation methodology that can encompass timber regions outside of the United States. In this article, an approach is described in which the authors evaluate the true risks and correlation measures for a number of global timber regions, leading to an example of how an appropriate allocation policy can be tailored for investor-specific requirements. %U https://jai.pm-research.com/content/iijaltinv/5/4/73.full.pdf