浮动管理费收取机制 提升投资者获得感

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is focusing on promoting long-term capital inflow and advancing public fund reforms, achieving significant breakthroughs in key reforms this year [1] Group 1: Public Fund Reform - The net asset value of public funds in China exceeded 34.39 trillion yuan as of June, marking a record high and the ninth increase since 2024 [2] - The CSRC has introduced a plan to optimize the fee structure for actively managed equity funds, linking management fees to fund performance and reducing fees for underperforming funds [2] - The "Action Plan for Promoting High-Quality Development of Public Funds" includes 25 measures addressing issues like operational philosophy, functionality, and investor satisfaction [2] Group 2: Market Response and Implementation - The first batch of 26 innovative floating fee rate products was approved and raised a total of 25.9 billion yuan, significantly outperforming the average fundraising of 4.4 million yuan per fund for the year [3] - The second batch of 11 innovative floating fee rate products was approved, expanding into thematic strategies such as pharmaceuticals and high-end manufacturing [4] - Fund management companies are actively responding to the new fee structure, emphasizing the importance of investor returns and long-term investment [5][6] Group 3: Future Outlook - The CSRC plans to promote the floating management fee model for newly established actively managed equity funds, aiming for at least 60% of the issuance from leading firms to adopt this model within a year [6] - The ongoing positive market performance and proactive responses from fund companies are expected to lead to more innovative floating fee rate products, further deepening public fund reforms [6]