第二批新模式浮动管理费率基金获批 2只产品差异化设置升降档阈值

Core Viewpoint - The approval of a second batch of 12 new model floating management fee rate funds marks an expansion in the market, with a focus on industry-specific themes alongside general market selection products [1][2]. Group 1: Fund Approval and Structure - The newly approved funds include thematic products in high-end equipment, pharmaceuticals, and manufacturing, expanding beyond the first batch which focused solely on general market selection [1]. - Fund managers such as Guotai Fund, Huatai-PB Fund, Morgan Asset Management, and others are participating for the first time, while some like China Europe Fund and Oriental Red Asset Management are reapplying after the first batch [1]. - The floating management fee structure links fees to fund performance against a benchmark, with rates set at 1.2% for the baseline, 1.5% for an upgrade, and 0.6% for a downgrade, aligning the interests of fund managers and investors [1]. Group 2: Differentiation and Strategy - Huatai-PB Fund and Oriental Red Asset Management have implemented differentiated thresholds for their products, raising the downgrade threshold to 2 percentage points below the benchmark, enhancing performance accountability [2]. - The new model aims for a "one client, one share" fee structure, allowing for personalized fee arrangements, which is a shift from previous models that linked fees to overall fund performance [2]. - The introduction of thematic funds indicates a strategic shift from broad market selection to more specialized investment strategies, catering to diverse investor needs [2]. Group 3: Investment Opportunities - The Huatai-PB Manufacturing Theme Mixed Fund exemplifies the potential in China's manufacturing sector, which is undergoing a transformation towards high-end and intelligent manufacturing, presenting numerous investment opportunities [3]. - Investors are advised to consider the investment capabilities and philosophies of fund companies and managers, as well as specific details in fund contracts regarding fee structures and performance benchmarks, to align with their risk tolerance and investment goals [3].