Can't see the wood for the trees?
As the fallout from the sale of the Irish Forestry funds to AXA IM continues, the damage being caused by reckless commentary from the vendors of that fund is highly frustrating and downright unacceptable. The person quoted in the articles has seen fit to strike a blow to the very heart of the industry, in what appears to be a vain attempt to rescue their own reputation.
Green Belt have been the pioneers in Irish forestry since 1982, with all others in the private estate following. While there are very good foresters and companies across the industry, and the private estate being in a position to thrive, such broad, overwhelmingly destructive comments damage the hard work and integrity of those in the industry.
We will not make comment on the activities of the IFS fund managers but would like to address the concerns some may have about investing into Irish forestry and those who might be considering our FACT initiative - www.fact.ie
FACT 1 - FACT is a limited company owned by the shareholders; FACT 2 - Any decisions around the sale of the initiative would need to be rubber stamped by at least 67% of shareholders; FACT 3 - FACT will acquire semi mature forestry across Ireland; FACT 4 - These forests will undergo rigorous due diligence; FACT 5 - the management fee's are set out from the beginning and are mainly activity based; FACT 6 - All folios and maps are open for viewing and confirmation; FACT 7 - Returns are realistically targeting 5% per annum compounding over the 10 year term.
Forestry in Ireland plays an extremely important role in rural communities and provides excellent social, environmental and economic opportunities to the country as a whole. Regardless of your opinions of particular species, the reality is that Ireland is failing badly to reach its climate change targets and one of the best ways to address this is to plant forests and manage forestry sustainably, now and into the future.
So, for those exploring forestry for the first time, do not be put off by the bad news stories you are reading. Take time to find the company or partner that works best with you.
We look forward to meeting you.