Trust Fundraising Drops 40% In Q1

The silent collapse of the trust market continues with fundraising down 40% from the peak levels seen in 2013Q4. Real estate trusts are down 25% from 2013Q1.

一季度信托发行2000亿 环比下降四成

By the entire economic weakness and increased risk of default and other factors, the first quarter of 1286 a total of 68 trust funds set of trust products issued, with a total issue size of 210.45 billion yuan, a decrease of nearly forty percent. At the same time, over 20 companies listed nearly 60 billion yuan to subscribe for trust products, industry insiders believe that this will also increase its future financial risk. Trust with interest the latest data show that the first quarter of 1286 a total of 68 trust trust products issued a collection of models, with a total issue size of 210.45 billion yuan, a decrease of 13 ring than 8.13 billion yuan, a drop of 39.6%. Among them, the average duration of the trust products 1.59 years, the average annual yield of 8.84%.

In this regard, the country with a handsome gain trust allows a researcher said that this year, with the downturn in the overall economic environment, as well as breach of trust is rising, it is bound to issue new trust products have a great impact. In addition, financial institutions such as banks tightened mortgage financing barriers and other measures to improve the future, trust financing costs will also be "gone."

According to the latest release of Pu Yi wealth trust market monthly report, February 50 trust companies issued a total of 391 models a collection of trust products, issue number lower than the previous 110 models, a decline of 34.27%. From the funds in the field of view, investing in securities of investment in the field of product 51 models, a decrease of 27 models, the proportion decreased 0.13 percentage points; invest in real estate in the field of product 44 models, a decrease of 14 models, accounting for an increase of 2.78 percentage points .

In this regard, some industry insiders believe that the Trust, the Trust issued overall market trend was deserted. But different investment groups and different financing industries are not the same. Currently, the lack of expertise, low anti-risk individual investors have a great convergence, while institutional investors, especially in the hands of "not bad money," and because they like the "job" of listed companies is still afraid of risk, lying in the carrying amount of the money in the trust financial markets; while finance companies in the direction of choice, and did so lucrative industry sunrise industry based.

According to incomplete statistics, this year there are more than 20 listed companies to publish announcements trust products to purchase, subscribe for fund size of nearly 60 billion yuan. It is worth noting that, in this one, increasing the proportion of single trust. Flush data iFinD show from going so far this year, A-share listed companies of 64 Pen investment trust products, which accounted for a single refrain about trust.

"Trust that a single trust fund in accordance with the strength of the client's requirements, set up a separate trust plan. Due to this product single source of funds, income trust products is higher than the set number." Insiders said that similar products are expected to yield more than 10% is a common situation, naturally favored by listed companies. However, it also increased the risk of the investment market.

Real Estate Trust has shrunk over 25 percent in the first quarter large room

Collections Trust was established in the first quarter of this year, the scale of "shrink", specific to the pillars of business real estate investment trust, the performance is also satisfactory. Trust with interest online statistics show that as of the end of the first quarter, the first quarter of this year, real estate investment trust established 207 product, the establishment of the total size of 46.835 billion yuan, compared with the same period of this scale has fallen by more than 25% last year. Central A real estate trust business on the "Securities Daily" reporters, said real estate projects are more accident last year, regulatory and corporate leaders also hope cautious based, we also hope that more enterprises to provide financing to a large room, but the general Trust is hard to compete to resources, and discharge large housing prices, in general, small and medium housing prices indeed difficult to qualify.

Establishment of 46.835 billion yuan in the first quarter

Trust with interest online statistics show that in the first quarter of this year, the size of the real estate trust established for 46.835 billion yuan, the number of established products for the 207 models, with an average duration of 1.83 years, the average expected rate of return of 9.62%.

And last year, the size of the real estate trust established for 64 billion yuan, the number of established products for the 224, the average expected rate of return of 9.75%. In contrast, the establishment of the first quarter the size of the real estate trust collections fell 26%. In the entire collection of products tends to decrease the size of the background, the size of the real estate trust is also slowing down.

Collections of real estate trusts established in the first half of this year has shrunk significantly scale. Central A real estate trust business, told reporters that from a financing point of view, real estate projects are more accident last year, regulatory and corporate leaders also hope cautious based, we hope that more enterprises to provide financing to a large room, but this part of the list in terms of banks is very competitive, general trust is difficult to compete to resources, and discharge large housing prices, in general, small and medium housing prices we do not dare loans, coupled with intense competition and shrinking real estate market in its own reward factor, the real estate business is now conducted not good enough.

Funds focused on large housing prices

Although the amount of financing real estate trust collections passable, but specific to the real estate business, with the funds to more large room tilt, or trust company to have the resources to provide opportunities.

"This year, bank credit policy will remain tight, which in itself is a trust company the opportunity to predict the real estate market through the trust will be a greater demand for financing." Non-bank financial analysis, a broker who told reporters, "but trust How many items can be made depends on the project itself and the company needed texture. "

In fact, the Trust's real estate business has been in a state of bank credit system supplemented by the Trust's real estate companies tend to channel their money through the banking system can not get funding. Earlier media statistics show that this year issued a collection of real estate trust products, the project developer hundred only 17%, and nearly 80% of the Trust projects are located 234 line city, and the four-tier cities centralized more items.

This year the market capital supply and demand is expected to remain tilted further to the large room, from a trust point of view, if there is a relatively large and stable cooperative relations housing prices are expected to scale the real estate trusts may still have some growth, if not access to resources, small and medium housing prices, concerns about the risks tier cities housing prices could make it have to reduce real estate business.

"Three or four line items, as well as collections of real estate trust projects proportion of small and medium housing prices will not decrease was not sure, but the decline is expected to add scale is likely the one hand it should be due to this type of project than previously faced greater funding, prices loosening the pressure, trust will avoid risks; on the other hand, the risk of the outbreak of the current trust products more frequently, from an investor's point of view, weighing the risks of this kind will be more worthwhile investment projects . "these people said.

China Trust Industry Association statistics, as of the end of 2013, the scale of China's real estate trust stocks to 1.03 trillion yuan, the proportion of all the funds in trust for 10.03%, total new real estate trust in 2013 the scale of 684.8 billion yuan, accounting for Trust 11.4% annual new scale, which added a collection of trust on a scale of 304 billion yuan, the new single trust scale of 380.7 billion yuan, accounting for real estate trust between the proportion was 44.4% and 55.6%. Trust this year, raising the size of the set to fall, but the overall trend of the real estate trust scale is still more depends on a single fund.