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百倍认购,疯抢!收益率可达30%的REITs打新靠谱吗
21世纪经济报道· 2025-09-24 12:13
记者丨 唐曜华 编辑丨周炎炎 超100倍甚至200倍的资金抢购,上市首日动不动就涨停!是的,财小圈说的就是 资产界的"当 红炸子鸡"——REITs。 最近REITs吸引了不少投资者关注,一些理财资金也盯上REITs,期望通过REITs打新提高理财 产品收益率,所以这一资产近期才一直被热捧。 什么是REITs呢? 如果说股票是公司上市,那么REITs就是资产上市。发行人把有稳定收入(比如租金、收费) 的项目资产打包上市,投资者买了REITs就等于通过REITs基金持有这些资产的所有权或经营 权,可以分享这些项目的收益,而且强制要求每年项目90%的可分配收益要分给投资者。 200倍什么概念呢?比如人家只要募集10个亿,结果有2000亿资金来买。机构们在网下"抢", 咱们个人投资者则可以在网上发行的时候认购。 怎么参与呢?打新前需要到证券公司APP开通REITs交易的权限,大致步骤如下: 1、到APP首页找到"业务办理"或类似功能; 2、找到基础设施基金,或者搜基础设施基金; 3、签署风险揭示书。签署后即办理成功(财小圈已开通基金功能,如果没开通可能还要 先开通基金功能)。 比如租赁类的REITs,就好比大家一起凑 ...
百倍认购、疯抢!收益率可达30%的REITs打新靠谱吗?
Group 1 - The core viewpoint of the articles highlights the increasing popularity of REITs (Real Estate Investment Trusts) among investors, with significant demand leading to oversubscription and price surges on their debut [1][2][3] - REITs are described as a way for investors to hold ownership or operational rights to income-generating assets, with a mandatory distribution of at least 90% of distributable income to investors [2][10] - The recent trend shows that 9 out of 15 newly listed REITs this year experienced a 30% increase on their first trading day, with 14 achieving a rise of 20% or more [2][3] Group 2 - The article explains the mechanics of participating in REITs, emphasizing that the allocation is done proportionally, which differs from the luck-based nature of traditional IPOs [3][8] - It notes that since June, 67% of newly issued REITs have seen subscription multiples exceeding 200 times, indicating strong institutional interest [3][9] - The article provides guidance on how to participate in REITs, including steps to open trading permissions and where to find upcoming REIT offerings [7][8] Group 3 - The types of REITs are categorized into two main classes: ownership-type REITs, which focus on asset value and dividends, and concession-type REITs, which rely on cash distributions and have a stronger debt-like characteristic [10][11] - The advantages of investing in REITs include low entry barriers and stable dividends, with many REITs distributing dividends multiple times a year [11] - The disadvantages include potentially low allocation ratios during high demand periods and liquidity concerns, as trading activity is primarily driven by institutional investors [12][13]
【财经分析】机构“打新”热情高涨 C-REITs仍是“香饽饽”
Xin Hua Cai Jing· 2025-06-11 01:51
Core Viewpoint - The recent surge in China's public REITs (C-REITs) market is evident from the high subscription rates and investor enthusiasm, indicating strong demand and potential investment opportunities [1][2][4]. Group 1: Market Performance - The subscription rate for Yizhuang Industrial Park REIT reached 265.76 times the initial offline issuance amount, while Green Development Commercial REIT was 249.72 times, showcasing the market's robust interest [2]. - A significant percentage of investors employed top-tier bidding strategies, with 86.34% for Yizhuang Industrial Park REIT and 90.00% for Green Development Commercial REIT, reflecting a competitive bidding environment [2]. Group 2: Investor Participation - Among the effective bidders for Yizhuang Industrial Park REIT, insurance funds accounted for 22.16% of the participants, followed by fund companies and securities firms [3]. - The overall participation of insurance funds in terms of subscription volume was the highest at 38.35%, indicating a strong preference for C-REITs among institutional investors [3]. Group 3: Future Outlook - Analysts express optimism about the continuation of C-REITs' popularity in the third quarter, citing stable cash dividends and the potential for price convergence towards the operational efficiency of underlying assets [4]. - The market is expected to see ongoing interest in newly issued products, particularly in sectors like data centers, energy, and logistics, which are perceived to have favorable valuation characteristics [5][6]. Group 4: Investment Strategies - Institutions are encouraged to focus on strategic allocations in the primary market and monitor secondary market price fluctuations to capitalize on undervalued products [5]. - C-REITs can be traded in the secondary market for capital gains, with investment strategies varying based on the type of REIT, such as using IRR for operating rights REITs and cash distribution rates for property rights REITs [6].