首批13只浮动费率基金吸金126亿元，东方红核心价值领跑

Core Insights - The establishment of floating fee rate funds marks a new era in the public fund industry, linking management fees to performance, reflecting investor acceptance of innovative fee structures [2][6][7] - The top three fund companies dominate the market, capturing nearly 40% of the total fundraising, indicating significant scale differentiation [3][5] Fund Performance and Structure - As of June 23, 2023, 13 out of 26 approved floating fee rate funds have been successfully established, raising a total of over 12.6 billion yuan, with an average fund size of 969 million yuan [2] - The top three funds by size are: - Dongfanghong Core Value A: 1.991 billion yuan - Yifangda Growth Progress A: 1.704 billion yuan - Ping An Value Enjoyment A: 1.322 billion yuan These three funds together raised 5.017 billion yuan, accounting for nearly 40% of the total [3][4] Market Dynamics - The average subscription period for the 13 funds was only 22 days, significantly shorter than the industry average, indicating strong market demand for the new fee structure [6][7] - The floating fee structure ties management fees directly to performance, encouraging fund managers to enhance their investment capabilities [6][7] Investor Behavior - The average subscription amount for the top-performing funds indicates a strong interest from institutional investors, with Tianhong Quality Value A achieving an average subscription amount of 234,000 yuan despite a lower total subscription count [5][6] - The popularity of the top funds is evident, with Yifangda Growth Progress A attracting 47,301 subscriptions, making it the most widely subscribed fund among the new offerings [4][5] Industry Transformation - The emergence of floating fee rate funds signals a shift from a fixed fee model to a performance-driven model in the public fund industry, potentially reshaping the competitive landscape [6][7] - Industry experts suggest that while leading firms have established a strong foothold, the market remains dynamic, with opportunities for smaller firms to gain traction through consistent performance [7]