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    • Home
    • Funds
      • Global Timber Fund
      • CMI Funds
      • Delphia Canadian Funds
      • Caravel Fund
    • In the News
    • Publications
    • About Us
    • Contact Info
  • Home
  • Funds
    • Global Timber Fund
    • CMI Funds
    • Delphia Canadian Funds
    • Caravel Fund
  • In the News
  • Publications
  • About Us
  • Contact Info

Timber Fund Description

TARGET FUND SIZE

$150 Million


Focused Portfolio

Maximum number of holdings : 20

Positions that go over a 10% weighting are scaled back


BENCHMARK

S&P Global Timber & Forestry Index (SPGTTF)


HIGH WATERMARK

Perpetual


TURNOVER RANGE TARGET

25-30% -Ongoing evaluation


MACRO THEMES

  • Current cycle is “supply-driven” as opposed to previous cycles that were largely “demand-driven”.
  • Global supply and demand balance tilting to a greater deficit.
  • Natural disasters: insect infestations, weather, and wildfire, coupled with ongoing deforestation are having a material effect on timber supply.
  • Demographics in developed countries have held back normal demand, while demand from emerging markets continues to grow.
  • New uses for timber –Mass Timber Construction, Cross-Laminated Timber (CLT), and Industrialized Wood-Based Offsite Construction.
  • Trade wars and tariffs.



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