Manulife Canadian Pooled Real Estate Fund (MCPREF)

MCPREF seeks to provide attractive risk-adjusted returns by investing in income-producing properties across stable and economically diverse Canadian urban markets. These properties either exhibit stable cash flow generation and the potential for long-term capital growth or, through development or redevelopment, have the potential to achieve future positive returns.

Why invest in MCPREF?

The fund is distinguished by local asset management that enhances market engagement, sourcing, and execution. We believe managing assets at the property level allows us to stay better connected to local economies, strengthen overall decision-making, source leading investment opportunities, and better execute investment strategies.

Stable portfolio with strong cash flows

Invested in core income-producing assets, while aiming to actively drive return through management and asset-repositioning strategies

Diversified strategy

Strategic allocations across core Canadian markets, properties, tenants, and economic factors¹

Modest use of leverage

Modest range which (targeting 15%-20% portfolio debt) is intended to minimize risk while magnifying returns². Positioned amonst the lowest leveraged funds in its peer index

Strong commitment to sustainability

Demonstrated by high-scoring metrics, green certifications, and wider Manulife Investment Management’s policies³

Solid governance, transparency and aligned interests

Sound governance model, independent third-party quarterly valuations of all assets, and investment by firm’s employees through the company’s retirement savings plans

Important disclosures

1 Diversification does not guarantee a profit nor protect against a loss in any market. 2 Leverage is calculated by dividing Debt Outstanding (Fair Value) by Investment Properties (Fair Value). The use of leverage magnifies both the favorable and unfavorable effects of price movements in the investments made by a fund. To the extent that a fund is leveraged in its investment operations, a fund will be subject to substantial risk of loss. 3 While Manulife Investment Management's ESG policy covers public markets, real estate, agriculture and timberland asset classes, the fund has not yet adopted a specific responsible investment policy; however, the fund has adopted a fair labor practices policy and participates in GRESB. Further ESG scoring and metric information on MCPREF – Sustainability Performance slide. Sustainable investment policies are found on our website: https://www.manulifeim.com/institutional/ca/en/sustainability.

Diversified across regions, sectors and property types

Geographic distribution

Property type

Important disclosures

As of June 30, 2024

Based on the total market value of Fund properties. Totals may not sum due to rounding.

4 Investments are held in the following Atlantic Provinces: New Brunswick, and Nova Scotia.

Information about the holdings, asset allocation, or sector diversification is historical and is not an indication of future performance or any future portfolio composition, which will vary.

Diversification does not guarantee a profit nor protect against a loss in any market.

Fund snapshot

Inception date	December 31, 1982
Structure	Open-end fund
Style⁵	Core fund
Portfolio managers	Glenn D’Silva Warwick Marchant
Total market value of properties⁶	$1,779 million
Leverage⁷	24.4%
Net Asset Value (NAV)	$1,365 million
Number of investments	72
Portfolio occupancy (committed)⁸	88.6%
Average lease term (years)⁹	4.7
Number of commercial tenants¹⁰	603
Cash holdings (% of NAV)	2.3%

Important disclosures

AUM data on a market value basis in Canadian dollars as of June 30, 2024. 5 This product is an insurance group segregated fund offered by The Manufacturers Life Insurance Company. The information herein has been prepared solely for informational purposes, may be subject to change, is not complete and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security. Any such offer of investments will be made pursuant to a Confidential Offering Memorandum which will contain material information not contained herein, including final terms and risk factors, and to which prospective purchasers will be referred. Any decision to invest should be made solely in reliance upon such Confidential Offering Memorandum. The fund described herein have not been authorized, or otherwise recognized or approved by any Canadian securities regulatory authority and, as an unregulated/exempt security, cannot be sold in Canada to the general public. 6 Total market value excludes a minority interest in properties held by a third party. 7 Total market value of debt as a percentage of total market value of properties. 8 Occupancy rates include leased areas for which contracts have been signed as of September 30, 2023 for occupancy at future date. 9 Commercial leases only. Weighted on sq. ft. for in place occupancy. 10 In place tenant.

Related viewpoints

July 12, 2022

What are private markets?

Private markets allow buyers and sellers to trade assets through direct negotiation rather than through an intermediary, such as a public securities exchange.

May 16, 2022

Why invest in real assets?

Institutional investors have long valued diversified real assets to help build portfolio resilience. Now, ever-growing numbers of investors are also looking at real assets to aid their path to net zero.

December 7, 2021

Why real estate investors can no longer overlook Canada

We believe for institutional investors with growing allocations to real estate, Canada’s growth prospects and disciplined investment markets may provide an opportunity for diversification and consistent, stable returns.

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