基金管理费收入小幅回升，21家机构超10亿元，权益基金仍在降

Summary of Key Points Core Viewpoint - The management fee income of 193 fund managers in the first half of 2025 reached 62.239 billion yuan, showing a slight year-on-year increase of 1.35%, marking the first recovery since the fee reduction in July 2023, although equity fund management fees continue to decline while fixed-income products see an increase [1][2][4]. Group 1: Management Fee Income Trends - The total management fee income for the first half of 2025 was 62.239 billion yuan, up from 61.408 billion yuan in the same period of 2024, reflecting a 1.35% increase [2]. - Among 189 institutions, 100 reported a year-on-year increase in management fee income, accounting for 52.91% of the total [2]. - Notably, Schroder Fund experienced the highest growth rate at 271.29%, with six institutions, including it, seeing their management fees double [2]. Group 2: Performance of Different Fund Types - Equity fund management fees totaled 26.571 billion yuan, down 5.91% year-on-year, while bond fund management fees increased by 4.47% to 14.619 billion yuan, and money market fund management fees rose by 9.09% to 18.278 billion yuan [5]. - The disparity in management fee income among different institutions is significant, influenced by the variety of fund products and intense market competition [4]. Group 3: Future Outlook and Challenges - Analysts suggest that the overall increase in management fee income is linked to the rapid expansion of public fund sizes, with total public fund assets surpassing 34 trillion yuan by June 2025 [4]. - The ongoing fee rate reform and the introduction of performance-linked floating fee mechanisms may exert downward pressure on future management fee income, necessitating fund managers to enhance their asset management capabilities and improve service quality [6].