Core Viewpoint - REITs have become an important strategy for many small and medium-sized public funds seeking differentiated competition in the market [1][2]. Group 1: Market Dynamics - Many small and medium-sized public funds are actively expanding in the REITs sector despite facing strong competition from leading public funds with established brands and distribution channels [2][3]. - Several small public funds have made significant moves in the REITs business this year, with some securing multiple projects and others preparing for their first deals [2][4]. Group 2: Competitive Advantages - Small public funds are showing remarkable activity in the REITs space, with funds like Hongtu Innovation Fund securing two REITs projects, including Hongtu Innovation Yantian Port REIT and Hongtu Innovation Shenzhen Anju REIT [5]. - Notably, smaller public funds like Zhongjin Fund and Zhongxin Jiantou Fund have established a competitive edge in the REITs market, surpassing their own industry status and scale [5][6]. Group 3: Shareholder Influence - Small public funds with strong industrial capital shareholders are seizing opportunities in the REITs market [7][8]. - For instance, Changcheng Fund is preparing to enter the REITs market, with a project involving Huaneng International and its subsidiary [9]. Group 4: Future Outlook - The REITs market is expected to expand in terms of asset types, driven by increasing investor demand and policy support, leading to a rapid development of the market [10][11]. - The domestic REITs market is relatively new compared to its overseas counterparts, but it is anticipated to grow significantly due to the abundance of quality assets from China's infrastructure development [11].