公募基金销售费用管理规则迎修订 整体降费约300亿元

Core Viewpoint - The revision of the public fund sales fee management rules marks the final stage of the fee reform in the public fund industry, aimed at reducing investor costs and promoting high-quality development of the industry [1][2]. Group 1: Key Aspects of the New Regulations - The new regulations include a reduction in subscription fees, purchase fees, and sales service fee rates for public funds, significantly lowering investor costs [1][2]. - The redemption fee structure has been optimized, with all redemption fees now allocated to the fund's assets, encouraging long-term holding by investors [3]. - The regulations promote the development of equity funds by setting differentiated caps on trailing commission payments and maintaining existing client maintenance fee ratios for personal and institutional investors [3]. Group 2: Fee Reduction Details - The maximum subscription and purchase fee rates for equity funds have been reduced from 1.2% and 1.5% to 0.8%, while for mixed funds, they have been lowered from 1.2% and 1.5% to 0.5%, and for bond funds from 0.6% and 0.8% to 0.3% [2]. - The sales service fee rates for equity and mixed funds have been reduced from 0.6% per year to 0.4% per year, and for index and bond funds from 0.4% per year to 0.2% per year, with money market funds reduced from 0.25% to 0.15% per year [2]. - The overall fee reduction from the third phase of the reform is estimated to be around 30 billion yuan, with a total annual benefit to investors exceeding 50 billion yuan when combined with previous phases [2].