UK Property ACS and UK Income Annuity Property Fund score maximum points for GRESB’S management module
Canada Life Asset Management today announces that its LF Canlife UK Property ACS and UK Income Annuity Property Fund have achieved Green Star status in the 2021 GRESB Assessment, with both funds receiving maximum points for the management module on stakeholder engagement, policies, governance and reporting.
For the second year in a row, the LF Canlife UK Property ACS received 3 Green Stars, as well as an overall score of 77, improving from 73 in 2020. The latest assessment marks four years of consecutive improvement with the fund now ranked 4th out of 14 in the UK Diversified Office/Retail benchmark, sitting ahead of the UK and global peer average.
The Canada Life IA Fund achieved a similarly high overall score of 71/100 - an increase from 63 in the first year, and above the peer average. The score results in the UK Income Annuity Property Fund being awarded 2 Green Stars. It also places the fund in the top half of participants, with an overall rank of 29th out of 79 in the UK Core Tenant Controlled benchmark.
GRESB facilitates global ESG benchmarking for real estate assets, giving investors the ability to compare ESG performance and providing asset managers with a clear structure within which they can work towards improving their ESG profiles. This year 1,520 property-related funds submitted GRESB real estate survey assessments, a 24% increase on last year.
David Priddis, Corporate Real Estate Director, Canada Life Asset Management: “We are delighted to have achieved Green Star status for the LF Canlife UK Property ACS and UK Income Annuity Property Fund in the latest GRESB Assessment. This comes at a critical time when there is increased focus on ESG, net-zero initiatives and public policies. The GRESB Assessment raises the bar for ESG practice across the industry due to the extensive and granular examination of policies and performance at a portfolio and underlying asset level.
“To achieve scores above the industry average and full marks in the management provides independent validation of our ESG policies, practices and performance, reinforcing Canada Life Asset Management’s position as a trusted partner in the sustainability space.”
Notes to Editors:
About Canada Life Asset Management
At Canada Life Asset Management, we manage £40.7bn* in fixed income, equities, UK property and multi-asset solutions. Our range of investment solutions has been designed to support financial advisers and their clients in meeting their long-term objectives.
Each of our offerings has been built for a purpose, whether it sits at the core of a portfolio to provide long-term growth or offers access to a specific global market. Our 40-year + history as asset managers gives us the expertise necessary to provide the highest quality multi-asset and risk-profiled solutions as well as attractive equity, fixed income and alternative funds, and real estate finance. For more information visit www.canadalifeassetmanagement.co.uk
As at 30/09/2021
The information contained in this document is provided for use by investment professionals and is not for onward distribution to, or to be relied upon by, retail investors.
The value of investments may fall as well as rise and investors may not get back the amount invested.
No guarantee, warranty or representation (express or implied) is given as to the document’s accuracy or completeness.
The views expressed in this document are those of the Canada Life Asset Management at the time of publication and should not be taken as advice, a forecast or a recommendation to buy or sell securities. These views are subject to change at any time without notice.
The LF Canlife UK Property ACS is an Authorised Contractual Scheme and is suitable for institutional and professional investors. The fund invests in assets that may at times be hard to sell. This means that there may be occasions when you experience a delay or receive less than you might otherwise expect when selling your investment. For more information on risks see the prospectus and key investor information document.
Requests for redemptions of units are subject to a notice period of up to 185 days. In normal market conditions this notice period is waived at the discretion of the manager and units can be sold without giving notice. The value of property is generally a matter of a valuer’s opinion rather than fact. Costs of buying and selling real property are generally much higher than for other types of assets. Property investments may be subject to significantly wider price spreads than bonds and equities which could affect the valuation of the fund by up to 8.00 %.
Canada Life Asset Management is the brand for investment management activities undertaken by Canada Life Asset Management Limited, Canada Life Limited and Canada Life European Real Estate Limited. Canada Life Asset Management Limited (no. 03846821), Canada Life Limited (no.00973271) and Canada Life European Real Estate Limited (no. 03846823) are all registered in England and the registered office for all three entities is Canada Life Place, Potters Bar, Hertfordshire EN6 5BA. Canada Life Asset Management Limited is authorised and regulated by the Financial Conduct Authority. Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Please note that while Canada Life Asset Management and Canada Life Limited are regulated as stated above, property management and the provision of commercial mortgages are not regulated activities.