London Life Real Estate Fund
The London Life Real Estate Fund was launched in 1998 to create a vehicle for direct real estate investment. The Fund invests in high-quality, income-producing properties diversified by type and location. The objective is to provide investors with strong income returns and the opportunity for long-term capital appreciation.
Fund Performance
as of September 30, 2024
$3.3B
in real estate assets
$3.8B
in total assets
79
properties
Source of return
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
| Income | 4.0% | 4.5% | 4.4% | 4.2% | 4.2% | 3.9% | 3.4% | 3.4% | 3.8% | 3.1% |
| Capital | 0.4% | 0.8% | 0.9% | 2.1% | 5.5% | (1.1)% | 13.1% | 3.5% | (6.8)% | (3.7)% |
| Total | 4.5% | 5.3% | 5.3% | 6.3% | 9.7% | 2.7% | 16.5% | 6.9% | (3.0)% | (0.6)% |
Compound rates of return
(gross of investment management fees)
| Three Month | (0.4)% |
| Year-to-date | (0.6)% |
| One Year | (3.5)% |
| Three Year | 2.2% |
| Five Year | 4.9% |
| Ten Year | 5.4% |
Diversification by property type
By property type (millions)
| Retail | 11.3% | $ | 364 |
| Office | 29.2% | $ | 940 |
| Industrial | 32.3% | $ | 1,042 |
| Residential | 23.8% | $ | 767 |
| Other | 3.4% | $ | 111 |
Diversification by region
By region (millions)
| British Columbia | 22.7% | $ | 730 |
| Alberta | 9.9% | $ | 319 |
| Prairies | 0.6% | $ | 18 |
| Ontario | 56.1% | $ | 1,808 |
| Quebec | 8.3% | $ | 267 |
| Atlantic | 2.2% | $ | 71 |
| U.S. | 0.3% | $ | 11 |
Quarterly Highlights
Q3 2024 London Life Real Estate Fund Bulletin
Through the first 3 quarters of 2024 overall Fund performance remained relatively flat. Income continues to be generated at the expected rate and capital returns have begun to moderate as asset values are stabilizing on the heels of multiple overnight rate cuts by the Bank of Canada.
Brewery Development Site, Edmonton, AB
1188 West Georgia, Vancouver, BC
Goreway Business Park, Brampton, ON
