129788422104062500_181According to statistics from Noah wealth management centre, last week issued 4 real estate investment trust product, scale up to $ 1.49 billion, accounting for the week 37% of the trust issue, per cent rose sharply. But industry officials said many new property honour of the trust issue is for the old item, the "using the new old" mode there is a big risk。 "Pick up" or to ease the cash flows, many trust companies and old customers frequently receive new real estate investment trust ad, and yields great temptation of their departure. Lu Xiaojie received a message from a trust company in Sichuan province, said "buoyant demand for fixed-income financial products in the market, will launch more high quality real estate investment trust projects, investment term is 1 yearInvestment threshold to $ 500,000, a fixed annual yield of 10%.
"Compared to the previous real estate investment trusts
tera power leveling, the product is of short duration, low threshold and high yields, rather to Miss land. In fact, seen from the established number, real estate investment trusts did pick up momentum appears in recent weeks, and the expected rate of return before more is steadily increasing. However, most people in the industry to this doubt。 Puyi wealth Fan Jie, a researcher said that while real estate investment trust prices to pick up in the near future, after running some real estate investment trusts are due in advance.
In his view, the relationship between the two intriguing. "At present real estate funds are extremely scarce, real estate sales has been slow in the second half of last year, lasted until late in February of this year turnover has certainly recovered, butUsually buyers using mortgage loan, developers actually return money after the March, it is clear that this time of early termination of the trust sales-source of repayment is unlikely. "Fan Jie said, although this year's credit policy is relaxed before, but due to the current market worry about systemic risk in real estate and bank investments (loans) in all financial institutionsThe most conservative, it is left to the small amount of real estate credit. In this case, real estate trust money come from?
Although no clear evidence of trust "take new and old", but the timing so close, vigilance. "Using the new old" greater risk
tera power leveling, in fact, that "using the new old" mode in the trust are already on the market. Last year in NovemberSichuan trust issue "Qingdao kaiyue collection of specific rights to income from assets investment funds trust scheme", disk access into trust "Qingdao kaiyue central trust funds the loan collection trust scheme". As another example, one issued by the Golden Valley trust
tera gold, with its last issue will be expiring in July of this year and January next year with the product to benefit from the trust as income subject to the right of product, recently was hotAnd 1.5% increase in expected yield of the latter than the former.
Both of these products have similar suspicion. People in the industry, some real estate investment trusts are currently on the market are based on associated with a project or projects, developer or its related parties change names, further financing, trust buying Consortium for the main method is the direct use of the new and old trust, or by the name of construction company to apply for finance and investmentIn trust has been set up to benefit from the right, and so on. "Usually with a financing of the project, investors may be difficult to accept, but if used with a developer under another project for financing, investors would be difficult to see, many enterprises have in this way to ease cash flow difficulties, delayed payment was at its peak. "WIND statistics, has released the 2011 annual report49 of listed real estate companies, total amount of indebtedness of 578.9 billion yuan, up 40%, debt ratio increases, average debt ratio exceeds 70%, hit a 10-year high, average operating cash flow-$ 0.27 per share, of which 27 companies operating cash outflows, poly real estate group, investment real estate, gold, cash flow from operations per share of-1. $ 12, $ $-1.6,-0.81. Can also be seen from the annual report, inventory of real estate companies under a lot of pressure, if it cannot be realized in a timely manner, Enterprise capital chain are at greater risk of fracture. Or will not be effectively mitigate this risk in the year, in this situation, the risk real estate how to effectively control the trust continues to be a challenge.
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