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Forest investment role for Ahern
Thursday, 26 November 2009 13:40Former Taoiseach Bertie Ahern is to become chairman of a fund which invests in forestry worldwide.
The International Forestry Fund is a joint venture between the Irish Forestry Funds and Switzerland's Helvetia Wealth. Mr Ahern will become chairman from January 1.
The fund was created in March 2009, and is aimed at institutional investors who want to invest in forestry.
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It says it invests in forestry in Ireland, the UK, and Central America, and grows a mixture of species ranging from spruce and pine in Europe to tropical timbers such as teak, mahogany, and rosewood. The fund buys existing forests, or land which is then afforested.
The Irish Forestry Funds was developed by IFS Asset Managers in 1997.
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