The third batch of reits fund codes

China REITs fund code is 184801. Penghua Qianhai is China's only public REIT fund. It was established on July 6, 2015 with a scale of 3 billion shares. The fund custodian is Shanghai Pudong Development Bank Co., Ltd. Penghua Qianhai is a closed-end fund type. Penghua Qianhai participates in Qianhai's financial innovation by investing in the equity of target companies, sharing the dividends of financial innovation, and has different risk and return characteristics between stock funds and bond funds.

The familiar securities funds invest in stocks and bonds, while REITs funds invest in real estate, and are real estate that has been processed through financial means such as asset securitization/ABS. Specifically, REITs (RealEstate InvestmentTrusts) stands for real estate investment trust funds. In terms of product structure, REITs funds do not directly own assets by purchasing real estate rights, but purchase securities products issued by real estate, and then indirectly hold shares of assets through securities products.

Real estate targets invested by REITs include: infrastructure, office buildings, hotels, shopping malls, industry and data centers, etc. According to the consultation draft, the investment target is in the infrastructure field. Currently, "real estate" fields such as office buildings, hotels, and shopping malls are not within the scope of the pilot. The products that have been issued and applied for are concentrated in the infrastructure field, including: industrial parks, highways , warehousing and logistics.

For investors, the income of REITs funds mainly comes from the fluctuation income of dividend income and the difference between fund sales;

According to the current product descriptions of various fund companies, after the establishment of REITs , more than 80% of the fund's assets will be invested in ABS, penetrating to obtain full ownership of infrastructure projects. Therefore, the income of REITs comes from the income from real estate management operations.

REITs fund income has different sources of income for different asset types. Industrial park ruits income mainly comes from rental income, property income, and parking fee income; highway ruits income mainly comes from toll income. In essence, the long-term benefits of real estate come from economic growth and monetary growth, that is, asset appreciation income. The more stable and profitable a real estate project is, the higher the return will be.