引导长期投资 公募基金销售费率拟调降

Core Viewpoint - The recent regulatory changes by the China Securities Regulatory Commission (CSRC) aim to reduce public fund sales fees, enhance investor experience, and promote high-quality development in the public fund industry [1][3][6]. Fee Reduction Measures - The CSRC has proposed a reduction in subscription and redemption fees for various fund types, with maximum rates set at 0.8% for equity funds, 0.5% for mixed funds, and 0.3% for bond funds, down from previous rates of 1.2% and 1.5% for equity and mixed funds, and 0.6% and 0.8% for bond funds [3][4]. - The redemption fee structure has been simplified from four tiers to three, with specific rates for different holding periods, encouraging long-term investment [3][4][5]. - Sales service fees for equity, mixed, index, and bond funds have been reduced, with maximum rates now at 0.4% per year for equity and mixed funds, 0.2% for index funds, and 0.15% for money market funds [5][6]. Investor-Centric Initiatives - The launch of the Fund Investor Service Platform (FISP) aims to enhance service levels for institutional investors, providing a standardized and automated process for fund transactions [8][9]. - The FISP platform is designed to address traditional operational inefficiencies in direct sales, improving compliance and service quality for institutional investors [9][10]. Industry Response - Fund management companies, such as E Fund and Ant Fund, have expressed support for the fee reduction measures, highlighting the potential for improved investor returns and a shift towards a more service-oriented approach in the industry [6][7]. - The reforms are expected to foster a competitive environment, benefiting firms with strong customer acquisition capabilities [9].