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According to Wind statistics, as of May 16, nearly a month, 64 real estate industry theme funds have all achieved positive returns.
Wan Yu, reporter of the ● newspaper
Recently, the real estate sector has attracted much attention in the market.OnlinerussianrouletteOne of the sectors, driven by the rise in real estate stock prices, the net value of theme funds in the real estate industry rebounded, a number of products nearly a month return of more than 20%, real estate ETF is also favored by funds, the scale growth.
A number of fund institutions believe that the follow-up real estate is expected to gradually enter a stabilizing situation, the risk of real estate default is expected to be reduced, and the investment return potential of high-quality real estate enterprises is great.
Real estate ETF scale growth
Recently, a number of cities have introduced policies to relax purchase restrictions, the real estate industry has attracted market attention, and the share prices of some listed companies in the real estate industry have achieved a good rise. Related theme funds have also risen and their net worth has rebounded. According to Wind statistics, as of May 16, nearly a month, 64 real estate industry theme funds have all achieved positive returns.
A number of passive products, such as Huabao CS800 Real Estate ETF, China Merchants Shanghai and Shenzhen 300 Real Estate A, Yinhua CSC mainland Real Estate theme ETF, Southern CSC all refer to Real Estate ETF, Penghua CS800 Real Estate A, Cathay Pacific Real Estate A, and so on, have all achieved returns of more than 15% in nearly a month.
In the related theme fund net worth rebounded at the same time, real estate ETF recently favored by funds, a number of product scale growth. As of May 16, the largest increase in scale in the past month was the South China Securities ETF, which refers to real estate, with an increase of 11%.Onlinerussianroulette38 million copies, Huaxia CSC all refers to the real estate ETF, Huabao CSC 800 real estate ETF, Yinhua CSC mainland real estate theme ETF and other products have also increased in varying degrees in the past month.
The yield of theme fund rebounded.
In terms of active products, in the real estate industry theme fund, the highest rate of return is ICBC Industry upgrade A, with a yield of 24.17% in nearly a month. The fund's quarterly report shows that there are a number of real estate stocks in the top 10, including China Resources Land, China overseas Development, Binjiang Group, China Merchants Shekou, Poly Development, as well as a number of real estate industry chain companies. including Sofia, Gu Home Decoration, European Home Decoration.
AVIC mixed Reform Select An also has a monthly return of more than 20%, reaching 21.81%. Almost all of its top 10 heavy stocks are real estate stocks. They are China Communications Real Estate, Cinda Real Estate, Vanke A, Chongqing Development, Dayuecheng, Poly Development, Merchants Shekou, Jindi Group, Jingneng Real Estate, and urban construction development.
Yongying Huitianyi An also achieved a higher rate of return of 18.79% in the past month, and there are also a number of real estate and real estate industry chain companies in its top 10 stocks. They are China overseas Development, China Merchants Shekou, Gu Home Decoration, Greentown China, Europe Home Decoration, Poly Development, Huafa shares, and Jindi Group.
Some funds whose net worth has recently reached the highest level since its inception also have real estate stocks in their heavy positions. For example, the net worth of Wells Fargo Research Select A reached 2.7730 yuan on May 14, the highest since the establishment of the fund, and its third largest stock is Poly Development. Anxinmin's stable net growth has also hit a record high recently, and the fund has a large position in China's overseas development.
It is worth mentioning that a number of well-known fund managers have increased their positions in real estate stocks this year. In the first quarter of this year, Qiu Dongrong, the fund manager of Zhong Geng Fund, mainly focused on real estate, Internet platform, medicine, automobile and other industries. Medium Geng small-cap value quarterly report shows that Poly Development for the first time into the fund's top ten heavy stocks. The first quarterly report of Zhonggeng value pilot shows that the fund increased its holdings in Yuexiu property in the first quarter, but slightly reduced its holdings in China's overseas development.
High-quality housing enterprises have great potential for return on investment.
HSBC Jinxin macro and strategic analyst Shen Chao analysis that Hangzhou fully liberalized purchase restrictions as a symbol, real estate ushered in a new round of restrictions. The overall relaxation of Hangzhou as a hot city of real estate has a certain guiding significance for the relaxation of the following first-tier cities with purchase restrictions. However, China's real estate market is divided, relaxation still depends on the fundamentals of each city itself. For cities that have relaxed comprehensive purchase restrictions, with the support of other policies, the effective demand of residents is expected to be actively released. Follow-up real estate is expected to gradually enter a stabilizing situation, the risk of real estate default is expected to be reduced. However, under the current relationship between supply and demand, the real recovery of the industry will still take time and the extent will be relatively moderate.
Looking to the future, the Penghua Fund expects that more cities are expected to introduce supportive policies to further boost confidence in the overall real estate market, and industry demand is expected to continue to pick up, thus promoting the stabilization and recovery of the industry as a whole.
Specific to real estate investment, Qiu Dongrong believes that, first of all, the volume to the bottom and the price to find the bottom, the clearing speed of real estate is extremely fast, and the sales of new homes are close to the bottom of natural demand. Second, the policy shift to stimulate effective demand, the future high-quality supply gap, the only head of high-quality housing enterprises to maintain resilience, market share logic is expected to be realized. Finally, the valuation level of high-quality housing enterprises is low, pricing includes the consideration of a large decline in house prices, and high-quality housing enterprises have great potential for return on investment.
Shen Chao said that for equity assets, the mitigation of real estate risk will help investors boost their confidence in the Chinese economy, and subsequent market valuations are expected to be repaired, which is good for the market to continue to pick up. For fixed assets, the recovery of real estate still needs interest rate reduction support, the market is still in the interest rate reduction cycle, interest rates may be difficult to rise sharply.
Jiang Cheng, manager of Zhongtai Securities Asset Management Fund, said that over the years, large developers have gradually begun to pursue high turnover. High turnover means that the mode of real estate changes from financial attribute to industrial attribute and manufacturing attribute. "our judgment on the long-term pattern of real estate has not changed, or the logic of manufacturing, under the business model of manufacturing, it is easier to identify competitive advantage. Whose financing cost is low, whose project management ability is strong, whose turnover rate is high, whose brand strength is strong, whose property management level is good, whose house can sell a higher premium, and who has strong vision ability to choose a project, these show, finally can reflect the difference in profitability. "