余额宝降费，天弘基金宣布托管费下调0.01%

Group 1 - Tianhong Fund announced a reduction in the management fee of Tianhong Yu'ebao money market fund from 0.08% to 0.07%, effective from September 23 [1] - As of June 30, 2025, Tianhong Yu'ebao's total scale reached 793.2 billion, making it the largest public fund in the market [1] - The average management fee and service fee for all money market funds in the market are 0.059% and 0.13% respectively, while Tianhong Yu'ebao's fees are slightly higher at 0.3% and 0.25% [1] Group 2 - E Fund also announced a fee reduction for its E Fund Margin Income Money Market Fund, with management fees decreasing from 0.20% to 0.15% and custody fees from 0.08% to 0.05%, effective from September 26 [3] - Guoxin Guozheng Cash Increase Money Market Fund reduced its management fee from 0.30% to 0.20% and custody fee from 0.10% to 0.07%, effective from September 23 [3] - Fund companies stated that the fee reductions aim to better meet investors' needs and lower their investment costs [3] Group 3 - The average 7-day annualized yield of money market funds was approximately 1.35% at the end of Q2, down by about 0.18% from the beginning of the year, and further decreased to 1.23% by September 22 [3] - Tianhong Yu'ebao's 7-day annualized yield was reported at 1.02% [3] - The cash management products are expected to maintain low yield levels due to a loose monetary environment and declining bank deposit rates [4]