浮动管理费率基金蝶变 产品设计更加精细化

Core Viewpoint - A new batch of floating management fee rate funds has been reported by 26 fund companies, marking the first such products since the issuance of the "Action Plan for Promoting High-Quality Development of Public Funds" [1][2][11] Group 1: New Fund Products - The first batch of floating management fee rate products was accepted by the CSRC on May 16, with 26 fund managers involved, including 21 leading firms and 4 smaller firms [2][3] - Most of the reported products are mixed funds, with a focus on protecting investor interests and guiding long-term investments [2][3][11] Group 2: Action Plan Details - The "Action Plan" establishes a floating management fee mechanism linked to fund performance, with different fee rates based on the fund's performance relative to benchmarks [3][11] - The plan aims for leading firms to issue at least 60% of their active management equity funds as floating management fee products within a year [3][11] Group 3: Historical Context - The concept of floating management fee products dates back to 1999, evolving significantly over the years with various models introduced [4][5][6] - Recent innovations include a dual floating fee structure and performance-based fee adjustments, enhancing the alignment of management fees with investor outcomes [8][9][10] Group 4: Industry Impact - The introduction of these new products is seen as a significant step towards optimizing the fund supply side, potentially leading to better long-term returns for investors [10][11] - The new fee structures are designed to encourage long-term investment and reduce irrational trading behavior among investors [11]