嘉实基金：新型浮动费率基金与持有人共担共赢 服务公募基金高质量发展

Core Viewpoint - The article discusses the high-quality development of public funds in Beijing, emphasizing the introduction of a new floating management fee model based on performance benchmarks, aimed at enhancing the industry and addressing existing challenges [1][2]. Group 1: Industry Developments - The China Securities Regulatory Commission has launched a series of reforms to improve the public fund industry, with a focus on quality and efficiency [1]. - The first batch of new floating fee rate funds was introduced in June, marking a significant step in implementing the action plan for high-quality development [1][2]. - As of September 18, the first batch of these funds began processing subscription, redemption, conversion, and regular investment business [1]. Group 2: Fund Performance and Investor Benefits - The new floating fee rate funds have shown positive performance, with 25 out of 26 funds achieving positive returns since inception, and the top three funds yielding over 30% [2][3]. - The floating fee mechanism enhances investor experience by promoting a "shared risk and reward" model, which encourages long-term investment and provides fee discounts for long-term holders [2][3]. - The new fee structure allows for differentiated rates based on each investment's excess return, fostering a more personalized investment experience [2][3]. Group 3: Management and Future Outlook - The floating fee model ties the fund manager's earnings closely to investor returns, incentivizing managers to focus on research and performance [3]. - The introduction of this model represents a shift from a focus on scale to a focus on returns for fund companies [3]. - Future strategies will involve enhancing product design, investment management, and customer service to provide sustainable returns for investors [3].