房地产基金投资策略实例研究-工商管理专业论文.docxVIP

THE EMPIRICAL RESEARCH OF REAL ESTATE INVESTMENT FUND FOR INVESTMENT STRATEGY ABSTRACT This thesis analyzed the problem of the domestic real estate fund development, through comparing the developing history, the investment strategy and the investment method between domestic and abroad. Taking advantage of the case study of Vanke Jinzhao private fund, this thesis tried to analyze the Investment model, the profitability and the risk inside. Besides that this thesis also tried to offer some innovational suggestion. This thesis focused on two kinds of real estate fund: REITs and PERE. There are three kinds of investment strategies of the REITs in America, 3R, sales-lease back and mutual fund. Five modes of PERE were concluded. Funds in UK seem pay more attention on the real property market cycle. Could we find any investment strategy with Chinese characteristics which we could apply all these strategies? This thesis find an alternative choice-- the industrial realty in China--in which field Chinese real estate fund would have more space to develop. Furthermore, this thesis also research how to judge whether the investment strategy is good or not. It offered a quantized theorizing method, and applied it in the case study. KEY WORDS: real estate, real estate fund, REITs, PERE 目录 第 1 章 绪论………………………………………………………………………………………1 1.1 选题背景………………………………………………………………………………………1 1.2 研究意义………………………………………………………………………………………2 1．3 主要创新点……………………………………………………………………………………3 1．4 论文研究方法及结构…………………………………………………………………………3 1.4.1 投资策略研究方法…………………………………………………………………………3 1.4.2 投资策略的量化研究………………………………………………………………………4 1.4.3 论文结构……………………………………………………………………………………5 第 2 章 房地产基金概述…………………………………………………………………………6 2.1 房地产基金定义及分类………………………………………………………………………6 2.2 房地产基金的投资策略概述…………………………………………………………………7 2.3 房地产基金的盈利模式概述…………………………………………………………………9 第 3 章 美国和英国的房地产基金的介绍与分析 ……………………………………………11 3.1 美国房地产信托投资基金（REITs）概述…………………………………………………11 3.1.1 美国房地产信托基金的发展 ……………………………………………………………11 3.1.2 美国房地产信托基金投资策略分析 ……………………………………………………12 3.2 美国