Forestry Investment Management has extended its latest timber fund, FIM Timber Growth Fund III, until spring 2006 to enable investors to subscribe prior to the end of the tax year.

The fund has raised £1.5m so far, with more pledged.

Colin Lees-Millais, an FIM director, said: “This is an excellent time to invest. Timber prices like all commodities are on the increase, but are still substantially below the level they reached 10 years ago.”

An independent company, FIM has around £100m funds comprising 130,000 acres of commercial timber in the UK under management.