证监会拟调降认申购、销售服务费率，优化赎回安排 公募费率改革进入“关键一步” 年降费约300亿元

Core Viewpoint - The reform of public fund sales fees is expected to reduce costs by approximately 30 billion yuan per year, marking a 34% decrease in fees, and aims to promote high-quality development in the public fund industry [2][9] Group 1: Key Aspects of the Reform - The new regulations will lower the subscription and sales service fee rates for various fund types, significantly reducing investor costs [3][4] - The redemption fee structure has been optimized, with all redemption fees now allocated to fund assets, encouraging long-term holding by investors [5][7] - The reform emphasizes the development of equity funds and sets differentiated limits on trailing commission payments [3][6] Group 2: Specific Fee Adjustments - Subscription fee rates for stock funds will decrease from a maximum of 1.2% to 0.8%, and for mixed funds from 1.2% to 0.5% [4] - Sales service fee rates for stock and mixed funds will be reduced from 0.6% per year to 0.4%, and for index and bond funds from 0.4% to 0.2% [5] - The maximum sales service fee for money market funds will drop from 0.25% to 0.15% per year [5] Group 3: Long-term Investment Encouragement - The reform aims to discourage short-term trading behaviors by optimizing the redemption fee system and encouraging sustained service from fund sales institutions [6][7] - The regulations will maintain a cap on customer maintenance fees for personal investors, promoting better service and support for long-term investment [6][7] Group 4: Industry Platform Development - The establishment of the Fund Industry Service Platform (FISP) will facilitate direct sales channels for institutional investors, improving efficiency and reducing operational costs [6][8] - The FISP platform aims to provide standardized, automated services for data exchange, enhancing the overall service level in the fund industry [6][8] Group 5: Overall Impact of the Reform - The phased approach to fee reduction is projected to save investors over 50 billion yuan annually, significantly lowering investment costs and enhancing industry competitiveness [9]