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Oct 19 2010 | 1:44am ET
Forestry investment firm Timberland Investment Resources has launched a European timber hedge fund.
Timberland Investment Resources Europe will offer British and other European investors access to the increasingly popular timber asset class. The new London-based subsidiary is still awaiting Financial Services Authority approval.
The fund will invest in timber resources in Europe, the U.S. and Latin America.
"The forestry asset class is gaining prominence globally because of its history of outstanding performance and its demonstrated ability to serve as a portfolio diversifier and inflation hedge," TIR founder Tom Johnson said. "We intend to make these unique attributes more accessible to European investors by offering them investments designed to meet their long-term objectives."
The new European unit is headed by managing partners Hugh Humfrey and Gian Paolo Potsios, bother formerly of Arch Financial Products.