Joel,
I received your letter requesting the transfer of the sale of Timbervest Fund Management to Domain Timber Investments. Not disclosed is the reason for the proposed sale. Another non addressed issue is the poor performance of Timbervest versus other timber related investment comparisons.
At the Timbervest investment promotional meeting at Mesirow Financial in Highland Park, IL. in July 2005 given by you and William Boden, I inquired how a Timbervest investment would compare to the Timberland Index. I was told that comparisons would not be precise due to the active nature of Timbervest, but there would be disappointment if Timbervest did not outperform the Timberland