公募REITs策略专题：从Beta到Alpha的配置体系构建

Group 1 - The report focuses on the changes in the primary and secondary markets since 2024, highlighting the evolving landscape of public REITs [4][5]. - It emphasizes the importance of constructing a configuration system that transitions from Beta to Alpha, aiming to enhance investment strategies [4][39]. Group 2 - The analysis includes an annual assessment of REITs, detailing investor structures and dividend distributions, which are crucial for understanding market dynamics [4][24]. - The report provides a breakdown of various funds' positions in REITs, showcasing their allocation percentages and total holdings, which reflects investor sentiment and strategy [32][35]. Group 3 - The strategy section outlines the construction of a configuration system that shifts focus from Beta (market risk) to Alpha (excess returns), indicating a more active management approach [39]. - It presents performance metrics for different risk-return combinations, illustrating the annualized returns and volatility associated with various portfolio strategies [44].