基金实行浮动管理费机制很有必要

Group 1 - The core viewpoint of the articles highlights the necessity of reducing management fees for public funds in China to alleviate the financial burden on investors, especially after years of poor fund performance [1][2] - The average management fee rate for public funds has been reduced by over 20% following regulatory requirements and voluntary actions from fund companies, addressing the issue of excessively high management fees [1] - The relationship between fund companies and investors is characterized as a trust relationship, where fund companies are not held accountable for poor performance, leading to a misalignment of risk and reward [2] Group 2 - The recent introduction of the "Action Plan for Promoting High-Quality Development of Public Funds" by the China Securities Regulatory Commission aims to address existing issues in the public fund industry, including the implementation of a performance-linked floating management fee model [3] - The floating management fee model allows for fee adjustments based on fund performance relative to benchmarks, promoting a more flexible fee structure that encourages better performance from fund companies [3] - The Action Plan emphasizes the establishment of a performance-based assessment mechanism that prioritizes investment returns over scale, thereby incentivizing fund companies to focus on performance [3] Group 3 - Some overseas fund companies do not charge management fees but instead take a performance-based fee, which aligns the interests of fund managers and investors more closely [4] - While there are suggestions to adopt a performance-based fee system in China, the current focus remains on implementing a floating fee structure as a preliminary step before broader adoption [4] - Reforming fund fee structures is seen as a crucial step towards establishing a performance-centered operational model in the fund industry, which is expected to enhance investor satisfaction and support the healthy development of the industry [4]