证监会：公募基金赎回费全额计入基金财产

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Regulations on the Management of Sales Fees for Publicly Offered Securities Investment Funds" to lower investor costs and promote high-quality development in the public fund industry [1] Summary by Sections Section 1: Fee Reduction - The regulations aim to reasonably reduce subscription fees, purchase fees, and sales service fee rates for publicly offered funds to lower investor costs [1] Section 2: Redemption Arrangements - The revised rules optimize redemption arrangements, specifying that the entire redemption fee will be included in the fund's assets [1] Section 3: Encouragement of Long-term Holding - The regulations encourage long-term holding by stating that no sales service fees will be charged for investors holding equity funds, mixed funds, and bond funds for more than one year [1] Section 4: Commission Payment Structure - A differentiated upper limit for trailing commission payment ratios is established to support the development of equity funds [1] Section 5: Sales Fee Regulation - The regulations strengthen the standardization of fund sales fees, addressing issues such as the attribution of interest on fund sales settlement funds and dual charging in fund advisory services [1] Section 6: Direct Sales Service Platform - A direct sales service platform for institutional investors in the fund industry will be established to provide efficient, convenient, and secure services for fund managers' direct sales business [1]