Hancock Forest Management, Inc., is a subsidiary of Hancock Natural Resource Group, Inc. Our forest management process seeks to integrate property-level activities with portfolio-level objectives, such as construction of geographically diversified portfolios. This investment strategy is one of the most effective ways investors can reduce overall portfolio risk because it prevents them from becoming overly vulnerable to price variation, market fluctuation or environmental hazards within a specific region. We develop and manage globally diversified timberland portfolios for public and corporate pension plans, high net-worth individuals, and foundations and endowments. As of December 31, 2014, assets under management totaled $11.7 billion. These assets are located in the United States, Canada, Australia, New Zealand, Brazil, and Chile.