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

2014201520162017201820192020202120222023
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 PDF (491 KB)
Q3 2023 Bulletin PDF (1 MB)
Q2 2023 Bulletin PDF (1 MB)
Q1 2023 Bulletin PDF (589 KB)

Annual Reports

Canadian Real Estate Investment Fund – Annual Report 2022 PDF (7 MB)
Canadian Real Estate Investment Fund – Annual Report 2021 PDF (5 MB)
Canadian Real Estate Investment Fund – Annual Report 2020 PDF (3 MB)
Canadian Real Estate Investment Fund – Annual Report 2019 PDF (6 MB)
Canadian Real Estate Investment Fund – Annual Report 2018 PDF (5 MB)

Want to Invest?

Contact a Canada Life advisor to invest in the Canada Life Real Estate Fund.