新型浮动费率基金收益“两重天”：有月赚8%，有投资者急了

Core Insights - The second batch of 12 new floating rate funds has been launched, offering more diverse options in terms of fee structures and investment themes compared to the first batch of 26 funds [2][3] - The new floating rate funds align the interests of fund companies and investors by adopting a "more profit, more fees; less profit, less fees" principle, addressing previous controversies regarding management fees despite fund losses [2][3] Fund Launch and Structure - The second batch received approval from the China Securities Regulatory Commission on July 24, with some fund managers making their debut while others are returning from the first batch [3] - Three funds from this batch, including E Fund Value Return, China Europe Core Selection, and Jianxin Medical Innovation, have set a fundraising cap of 30 billion yuan for the latter [3][4] Fee Structure and Performance - The management fee structure remains performance-based, with three tiers: 1.2% for baseline performance, 1.5% for exceeding the benchmark by 6%, and 0.6% for underperforming by 3% [4][5] - Some funds have stricter thresholds for fee adjustments, such as Huatai-PB and Oriental Red Asset Management, which set the underperformance threshold at 2% [8] Fund Performance and Investor Sentiment - Among the first batch of floating rate funds, some have shown significant returns, with one fund achieving an 8% profit in its first month, while others have stagnated around a net value of 1 yuan [2][13] - As of August 1, 2025, many funds have underperformed their benchmarks, leading to investor frustration, especially as the A-share market has been rising [15][16] Fundraising and Market Response - The first batch of 26 floating rate funds raised a total of 25.86 billion yuan, with significant disparities in fundraising success among different funds [10][12] - The average subscription period for the first batch was 21.5 days, indicating a favorable market response compared to the average for equity mixed funds [10]