Canadian pension funds warned over property exposure The FT examines how falling property prices in Canada could have a big impact on Canadian pension funds which are heavily exposed to the sector. Last month Pimco slashed its exposure to Canada amid fears that its housing market is heading for a significant correction. While Lorenz Reibling, founder of Taurus, a Boston-based real estate investment company, believes that commercial property valuations in Canada are 20% higher than what they should be when compared with similar developed markets such as Germany. Ross Moore, director of research at the Canadian arm of CBRE, says that the decision of pension funds to invest in the sector could leave them overexposed. He adds that the office market is a “big concern”, with companies in office towers in Calgary, Vancouver and Toronto increasingly “getting more workers in the same amount of space”.
Posted on: Mon, 17 Mar 2014 11:41:29 +0000
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