Core Insights - The management fee income of 193 fund managers reached 62.239 billion yuan in the first half of 2025, marking a slight increase of 1.35% year-on-year, indicating a recovery after a decline following fee reductions in July 2023 [1][2] - Despite the overall increase, equity fund management fees continue to decline, while fixed-income products have seen a rise in management fees [4][5] - The trend towards fee rate reform and performance-linked floating fee mechanisms suggests that fund managers may face ongoing pressure on management fee income in the future [4][6] Management Fee Income Overview - In the first half of 2025, 100 out of 189 fund managers 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 at 271.29%, with six other institutions also doubling their management fee income [2] - Conversely, 34 institutions saw a decline in management fee income exceeding 20% [2] Fund Manager Performance - The top three fund managers by management fee income were E Fund, Huaxia Fund, and Guangfa Fund, with incomes of 3.918 billion yuan, 3.001 billion yuan, and 2.909 billion yuan respectively [2] - A total of 21 fund managers generated over 1 billion yuan in management fees, collectively accounting for 62.42% of the total management fee income [2][3] Future Outlook - Analysts suggest that the overall increase in management fee income is linked to the rapid expansion of public fund sizes, with total assets surpassing 34 trillion yuan by June 2025 [4] - The decline in equity fund management fees is attributed to regulatory reforms aimed at reducing fees for investors, which significantly impacts fund managers' income [4][5] - The industry is expected to focus on enhancing asset management capabilities and improving service quality to maintain stable management fee income amidst ongoing fee reforms [5][6]
基金管理费收入小幅回升 权益基金仍降
Bei Jing Shang Bao·2025-09-02 01:29