16只新型浮动费率基金开卖，试行“赚钱多收、亏钱少收”

Core Viewpoint - The introduction of floating management fee mechanisms in public funds aims to enhance investor confidence and align the interests of fund companies with those of investors [1][4]. Group 1: Fund Launch and Market Response - The first batch of 26 floating fee rate funds has been approved, with 16 funds from companies like E Fund, Harvest, and GF Fund starting issuance on May 27 [1][2]. - As of May 28, the cumulative sales of these funds exceeded 1.6 billion yuan, although there was significant disparity in individual fund performance, with some raising over 100 million yuan while others struggled to reach 400,000 yuan [1][2]. - Market reactions to the new fund model are mixed, reflecting a learning curve for investors regarding the innovative fee structure [2][3]. Group 2: Fee Structure and Investor Impact - The new floating fee structure includes three tiers: 1.2% (base), 1.5% (upward adjustment), and 0.6% (downward adjustment), contingent on the fund's performance relative to a benchmark and the holding period of at least one year [3][4]. - This mechanism aims to address the long-standing issue of "funds making money while investors do not," by linking management fees to actual investor returns [4][5]. - The new fee model emphasizes a performance-driven approach, encouraging fund managers to focus on delivering better returns for investors [5][6]. Group 3: Industry Outlook and Investor Behavior - The floating fee rate products represent a significant reform in the public fund industry, with expectations for more such products to emerge as the market evolves [6]. - Analysts suggest that the new fee structure could help restore investor interest in actively managed equity funds, which have seen a decline in confidence over recent years [5][6]. - The performance of actively managed equity funds has shown signs of recovery, with the Wind data indicating a cumulative return of 3.13% for the year as of May 27, contrasting with negative returns for major indices [5].