首批获准！26只新型浮动费率基金来了

Core Viewpoint - The introduction of new floating fee rate funds in China aims to align the interests of fund managers and investors by linking management fees to fund performance relative to benchmarks, promoting long-term investment strategies and enhancing investor experience [2][5][10] Group 1: Product Launch and Approval - The first batch of 26 new floating fee rate funds received approval from the China Securities Regulatory Commission (CSRC) on May 23, following their application on May 16, indicating a rapid and efficient regulatory process [1][2] - These funds are expected to be available for subscription by the end of May, with sales through commercial banks and online platforms [1][8] Group 2: Fee Structure and Performance Metrics - The new funds feature a tiered management fee structure with three levels: 1.2% (base), 1.5% (upward adjustment), and 0.6% (downward adjustment), based on performance metrics of exceeding or falling short of benchmarks by 6 percentage points and 3 percentage points, respectively [3][4][6] - The management fee will be determined by the holding period and annualized return of each investor's fund shares, promoting a more nuanced approach to fee assessment compared to traditional fixed-rate models [3][10] Group 3: Investment Strategy and Benchmarking - The funds will primarily invest in equities, with a benchmark that includes major indices such as the CSI 300 and the Hang Seng Index, reflecting a focus on broad market exposure [6][9] - The emphasis on relative performance against benchmarks aims to prevent style drift and ensure that fund managers adhere to their stated investment strategies [9][10] Group 4: Industry Response and Future Outlook - Fund companies are prioritizing the effective implementation of these new products, with experienced fund managers leading the initiatives to enhance investor engagement and long-term returns [7][8] - There is a strong interest from various fund managers to develop similar products, indicating a trend towards the normalization of floating fee rate funds in the market [8][10]