首批创新浮动费率基金，正式获批！

Core Viewpoint - The first batch of innovative floating rate funds based on performance benchmarks has been officially approved, marking a significant development in the public fund industry aimed at enhancing fund quality and aligning the interests of fund managers and investors [1][2][6]. Group 1: Fund Structure and Mechanism - The newly approved floating rate funds will implement a three-tier fee structure: 1.2% (benchmark tier), 1.5% (upward adjustment), and 0.6% (downward adjustment), with management fees linked to the fund's performance relative to a benchmark [2][3]. - The fee mechanism emphasizes a "single customer, single share" approach, allowing for personalized fee structures based on individual investor performance, thus promoting a tailored investment experience [3][4]. Group 2: Industry Impact and Response - The introduction of these floating rate funds is seen as a positive response to the "Action Plan for Promoting High-Quality Development of Public Funds," reflecting the industry's exploration of diverse fee models [6][7]. - Fund companies are expected to enhance their operational capabilities and investment research systems to meet the new requirements posed by the floating rate mechanism, which aims to improve long-term investment performance [3][5]. Group 3: Investor Benefits and Long-term Focus - The floating rate mechanism is designed to encourage long-term holding by investors, providing benefits to those who maintain their investments for a certain period, thereby reducing irrational trading behaviors [7]. - By linking management fees to excess returns over benchmarks, the new structure aims to enhance the professional investment research capabilities of fund managers, fostering a culture focused on generating alpha returns rather than relying solely on market beta [7].