Group 1 - The total number of REITs in the market has reached 68, with a market value of 204.7 billion yuan, making it the largest in Asia [1] - Smaller fund companies are leveraging REITs to gain competitive advantages, with notable entries such as Chuangjin Hexin Fund and Changcheng Fund [1] - The data shows that smaller fund companies have varying degrees of involvement in REITs, with CITIC Construction Investment Fund leading in management scale at 8.378 billion yuan [1] Group 2 - For smaller public funds, entering the REITs market is a strategic choice to overcome traditional competitive barriers, as they struggle to compete with larger firms in active equity [2] - The potential scale of China's REITs market is estimated to reach trillions, representing 3%-5% of GDP, indicating significant growth opportunities [2] - Industry insiders suggest that the rapid development of the public REITs market presents a new avenue for smaller fund companies to establish their unique characteristics [2]

REITs已成为许多中小公募寻求差异化竞争的重要策略。 尽管在传统业务线上面临着头部公募强大的品牌与渠道资源竞争，但许多中小公募在REITs领域不断开疆扩 土，已成为行业新现象，也吸引了那些拥有强大股东资源的中小公募卡位赛道。 券商中国记者获悉，多家中小公募今年在REITs业务上动作频频，有的已连续斩获多个项目，有的开始在年内 拿下首单，有的已在项目准备阶段，市场需求与行业竞争策略的变化，预计将吸引更多的中小公募进入REITs 市场。 中小公募抢占REITs 竞争优势 又一家中小公募进入REITs赛道。券商中国记者从创金合信基金公司获悉，创金合信基金公司旗下已经有多个 公募REITs项目同时处于推进状态，其中公司旗下首只公募REITs——创金合信首农产业园封闭式基础设施证 券投资基金已在6月19日获批，标志着该基金近年来在REITs领域的深耕布局初见成效，相关业务发展提速。 例如，拿下年内首单获批的消费类REITs项目的基金公司并非来自头部公募，而是来自中金基金。6月19日， 中金中国绿发商业资产封闭式基础设施证券投资基金宣布基金合同生效。该基金简称为"中金中国绿发商业 REIT"，合同期限设定为30年，运作 ...

Core Insights - The launch of the first batch of 9 REITs in June 2021 marked the official start of the domestic REITs pilot program, enhancing market vitality and resilience [1] - As of now, there are 22 REITs listed on the Shenzhen Stock Exchange (SZSE) with a total fundraising scale of 57.81 billion yuan, covering various asset types including ecological protection and logistics [2] - The regulatory framework for REITs has been continuously improved, with a comprehensive set of rules established to cover all business aspects of REITs [3] Market Expansion and Innovation - The SZSE has introduced several innovative REITs, including the first clean energy REIT and the first batch of rental housing REITs, with a focus on expanding asset types [2] - The market has seen a significant increase in investor participation, with the average subscription multiple for recent REITs reaching historical highs [2] Regulatory and Operational Enhancements - A robust regulatory framework has been established, consisting of various guidelines and notifications to streamline the REITs lifecycle and improve operational efficiency [3] - Continuous engagement with local authorities and market participants has been emphasized to enhance project reserves and conduct regular training sessions [4] Market Performance and Investor Engagement - As of June 20, 2024, the total market value of the 22 REITs is approximately 68.67 billion yuan, with an average closing price increase of 25.18% from the issue price [5] - Institutional investors dominate the REITs market, holding over 95% of the shares in the 18 REITs that disclosed their annual reports for 2024 [6] Future Development and Strategic Goals - The SZSE aims to optimize project services and expand the REITs pilot scale, focusing on high-quality development and supporting technological innovation [8] - Plans include enhancing regulatory mechanisms, improving the quality of listed REITs, and fostering a more diverse investor base to ensure sustainable market growth [8]

新华财经上海6月17日电（记者杨溢仁）基础设施公募REITs（以下简称"C-REITs"）俨然已成低利率时 代的投资新选择。在业内人士看来，随着"入池"资产的增多，以及扩募的不断推进，项目管理者的现金 流储备将持续增多，并将进一步优化资产管理质量，同时公募REITs规模得以提升，将为投资者带来更 好、更稳定的回报。 板块周涨幅可观 数据显示，2025年6月9日至2025年6月13日，我国已上市公募REITs的二级市场价格整体呈现出稳步上 行的趋势——加权REITs指数收于143.48，回报率为0.74%；与其他主流大类资产相比，回报率由高至低 排序分别为：原油>黄金> REITs>美股>纯债>A股>可转债。 根据中金公司测算，华夏北京保障房REIT扩募后2025年、2026年的DPU（年化）分别为0.118393元、 0.118687元，按6月13日收盘价计算，年化分派率为2.69%、2.70%，高于当前TTM分派率2.45%。 在利好支持政策频出、二级市场走强、配置价值突出等多重因素叠加发酵的大背景下，C-REITs成为了 各类机构眼中的"香饽饽"。 其中，保障性租赁住房REITs的表现尤为突出，涨幅最大。 ...