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timberland investments in an institutional portfolio - Iwc.dk

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TIMBERLAND INVESTMENTS IN AN INSTITUTIONAL PORTFOLIO 24ReferencesAkers, K. (2000): Global timber <strong><strong>in</strong>vestments</strong>: An import<strong>an</strong>t role <strong>in</strong> <strong>in</strong>tuitional <strong>portfolio</strong>s –Paper from UBS Asset M<strong>an</strong>agement, UBS Timber Investors Research, September 2000.B<strong>in</strong>kley, C.S., C.F. Raper, <strong>an</strong>d C.L. Washburn (1996): Institutional ownership of US<strong>timberl<strong>an</strong>d</strong>. History, rationale <strong>an</strong>d implications for forest m<strong>an</strong>agement – Journal ofForestry 9 (Sep 1996), 21 – 28.Caulfield, J.P. (1998a): Timberl<strong>an</strong>d <strong>in</strong> <strong>in</strong>stitutional <strong>portfolio</strong>s <strong>an</strong>d the question ofpersistence – Forest Products Journal, Apr. 1998, 48(4), 23 – 28.Caulfield, J.P. (1998b): Timberl<strong>an</strong>d return drivers <strong>an</strong>d <strong>in</strong>vest<strong>in</strong>g styles for <strong>an</strong> asset that hascome of age – Real Estate F<strong>in</strong><strong>an</strong>ce, w<strong>in</strong>ter 1998, 14(4), 65 – 78.Caulfield, J.P. <strong>an</strong>d D.H. Newm<strong>an</strong> (1999): Deal<strong>in</strong>g with <strong>timberl<strong>an</strong>d</strong> <strong>in</strong>vestment risk: Theoryversus practice for <strong>in</strong>stitutional owners – Journal of Forest Economics 5:2 1999, 253 – 268.Conroy, R. <strong>an</strong>d M. Miles (1989): Commercial forestl<strong>an</strong>d <strong>in</strong> the pension <strong>portfolio</strong>: thebiological beta – F<strong>in</strong><strong>an</strong>cial Analysts Journal, Vol. 45, September - October 1989, 46-54.Cordt, L. <strong>an</strong>d T. Degn (2003): Værdi<strong>an</strong>sættelse af fleksibilitet – DTA eller ROV? –K<strong>an</strong>didatafh<strong>an</strong>dl<strong>in</strong>g – Copenhagen Bus<strong>in</strong>ess School (Denmark, unpublished).Elton, E., <strong>an</strong>d M. Gruber (1995): Modern Portfolio Theory <strong>an</strong>d Investment Analysis – JohnWiley & Sons, Inc. 1995.Goar, J. S. (2001). Into the Woods – Bloomberg Wealth M<strong>an</strong>ager.H<strong>an</strong>cock Timber Resource Group (2003a): Timberl<strong>an</strong>d as a <strong>portfolio</strong> diversifier – ResearchNotes 2003.H<strong>an</strong>cock Timber Resource Group (2003b): The NCREIF Timberl<strong>an</strong>d Property Index –Research Notes 2003.H<strong>an</strong>cock Timber Resource Group (2003c): The benefits of <strong>timberl<strong>an</strong>d</strong> <strong>in</strong> a real estate<strong>portfolio</strong>, revisited – H<strong>an</strong>cock Timber Research Note, Jun. 2003, N–03–7.H<strong>an</strong>cock Timber Resource Group (2003d): Risk from natural hazards for <strong>timberl<strong>an</strong>d</strong><strong><strong>in</strong>vestments</strong> – H<strong>an</strong>cock Timberl<strong>an</strong>d Investor Second Quarter 2003.Ineichen, A.M. (2003): Fireflies before the storm – UBS Warburg – AIS Report.JPMorg<strong>an</strong> Asset M<strong>an</strong>agement Long-term Capital Market Return Assumptions. As ofNovember 30 2008Lutz, J. (ed.) (1999): Measur<strong>in</strong>g <strong>timberl<strong>an</strong>d</strong> perform<strong>an</strong>ce – Timberl<strong>an</strong>d Report 1(2) JamesW. Sewal Comp<strong>an</strong>y.

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