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, 2024
$5.9B
in real estate assets
$6.3B
in total assets
105
properties
Source of return
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
| Income | 4.5% | 4.5% | 4.5% | 4.3% | 4.2% | 3.8% | 3.7% | 3.3% | 3.5% | 3.7% |
| Capital | 0.1% | 0.9% | 1.8% | 2.7% | 4.9% | (1.3)% | 7.8% | 3.9% | (6.5)% | (4.3)% |
| Total | 4.7% | 5.4% | 6.3% | 7.1% | 9.1% | 2.5% | 11.6% | 7.2% | (3.0)% | (0.6)% |
Compound rates of return
(gross of investment management fees)
| Three Month | 0.0% |
| Year-to-date | (0.6)% |
| One Year | (0.6)% |
| Three Year | 1.1% |
| Five Year | 3.4% |
| Ten Year | 4.9% |
Diversification by property type
By property type (millions)
| Retail | 10.1% | $ | 588 |
| Office | 26.9% | $ | 1,566 |
| Industrial | 27.9% | $ | 1,627 |
| Residential | 28.4% | $ | 1,657 |
| Other | 6.7% | $ | 392 |
Diversification by region
By region (millions)
| British Columbia | 11.4% | $ | 666 |
| Alberta | 10.6% | $ | 616 |
| Prairies | 1.1% | $ | 67 |
| Ontario | 65.9% | $ | 3,837 |
| Quebec | 9.9% | $ | 579 |
| Atlantic | 0.8% | $ | 45 |
| U.S. | 0.3% | $ | 20 |
Quarterly Highlights
Q4 2024 Canada Life Real Estate Fund Bulletin
Total fourth quarter performance was muted at -0.04%, this represented a 46bps improvement relative to Q3 and 31bps improvement relative to Q2 performance. Total return for the calendar year was -0.62%, comprised of an annual income return of 3.72% that outpaced capital depreciation by 31bps. 0.93% of negative performance was attributed to the mark to market of the Fund’s mortgage financing as bond yields have been retracting since Q4 of 2023.
Downloads
Latest annual report
Latest bulletin
Past Performance Reports
Quarterly Bulletins
| Q4 2024 Bulletin |
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| Q3 2024 Bulletin |
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| Q2 2024 Bulletin |
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| Q1 2024 Bulletin |
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