Canada Life Real Estate Fund
Established in 2005, the Canada Life Real Estate Fund invests in units of the Great-West Life Real Estate Fund.
Fund Performance
as of December 31, 2023
$6.3B
in real estate assets
$6.7B
in total assets
120
properties
Source of return
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Income | 4.8% | 4.5% | 4.5% | 4.5% | 4.3% | 4.2% | 3.8% | 3.7% | 3.3% | 3.5% |
Capital | 2.6% | 0.1% | 0.9% | 1.8% | 2.7% | 4.9% | (1.3)% | 7.8% | 3.9% | (6.5)% |
Total | 7.4% | 4.7% | 5.4% | 6.3% | 7.1% | 9.1% | 2.5% | 11.6% | 7.2% | (3.0)% |
Compound rates of return
(gross of investment management fees)
Three Month | (2.4)% |
Year-to-date | (3.0)% |
One Year | (3.0)% |
Three Year | 5.1% |
Five Year | 5.4% |
Ten Year | 5.8% |
Diversification by property type
By property type (millions)
Retail | 9.1% | $ | 569 |
Office | 25.7% | $ | 1,600 |
Industrial | 29.7% | $ | 1,855 |
Residential | 28.4% | $ | 1,773 |
Other | 7.1% | $ | 441 |
Diversification by region
By region (millions)
British Columbia | 10.4% | $ | 652 |
Alberta | 10.5% | $ | 652 |
Prairies | 1.1% | $ | 71 |
Ontario | 67.6% | $ | 4,215 |
Quebec | 9.5% | $ | 593 |
Atlantic | 0.7% | $ | 46 |
U.S. | 0.2% | $ | 9 |
Quarterly Highlights
Q4 2023 Canada Life Real Estate Fund Bulletin
The total gross return for 2023 was -2.98% as capital returns were significantly impacted by a decline in asset values attributable to elevated borrowing costs and a negative mark to market on the Funds debt. Income returns remained within target range as occupancy across the portfolio averaged better than 90% for the year.
Abbotside Way, Caledon, ON
300 McRae Road, Ottawa, ON
Vancouver Centre II, Vancouver, BC
185 Enfield Place, Mississauga, ON
33 Yonge Street, Toronto, ON
50 Prince Arthur, Toronto, ON
Downloads
Latest annual report
Latest bulletin
Past Performance Reports
Quarterly Bulletins
Q4 2023 Bulletin |
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Q3 2023 Bulletin |
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Q2 2023 Bulletin |
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Q1 2023 Bulletin |
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Annual Reports
Canadian Real Estate Investment Fund – Annual Report 2022 |
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Canadian Real Estate Investment Fund – Annual Report 2021 |
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Canadian Real Estate Investment Fund – Annual Report 2020 |
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Canadian Real Estate Investment Fund – Annual Report 2019 |
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Canadian Real Estate Investment Fund – Annual Report 2018 |
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Want to Invest?
Contact a Canada Life advisor to invest in the Canada Life Real Estate Fund.