基金业要来与投资者“同甘共苦”了，至少三成权益类基金应被扣一半管理费

Core Viewpoint - The newly approved performance-based floating fee rate products introduce a tiered fee structure that rewards well-performing funds and penalizes underperforming ones, potentially impacting about half of equity funds based on their recent performance [1][2]. Summary by Sections New Fee Structure - The new floating fee rate products implement a three-tiered management fee system: 1. Funds outperforming the benchmark by over 6% will incur a management fee of 1.50% per year 2. Funds underperforming by more than 3% will have a reduced fee of 0.60% per year 3. Funds performing in between will be charged a standard fee of 1.20% per year 4. Funds held for less than one year will uniformly be charged at 1.20% per year [2][3]. Historical Fund Performance - As of May 30, 1664 equity funds (19.36%) outperformed the benchmark by over 6%, while 2649 funds (30.82%) underperformed by more than 3%. This indicates that approximately half of equity funds will be charged at either the highest or lowest fee rates under the new structure [3][4]. Current Management Fee Distribution - Data shows that 54.38% of equity funds currently charge a management fee of 1.20%, while 33.18% charge 0.60% or less, indicating a significant portion of funds already operate at the lower fee tier [4]. Investor Reactions - Investor feedback on the new fee structure is mixed; some find it complex, while others appreciate the potential for a "no profit, no fee" model, which has been previously tested by some fund companies [5][6]. - Some investors believe the new model appears more reasonable compared to the previous fixed fee structure, indicating a willingness to consider these funds [6]. Sales Channel Perspectives - Financial advisors express optimism about the new fee structure, suggesting it may lead to better fund management and resource allocation by fund companies. They recommend that investors focus on the fund's performance rather than just the fee structure [6]. - Securities firms are actively promoting these funds, emphasizing the shared risk and reward aspect of the new fee model [6].