公募基金费率改革，新方向！

Core Viewpoint - The fund advisory share is emerging as a new direction for the public fund industry, with a consensus forming around its importance for fee reform and enhancing investor experience [1][2][3] Group 1: Industry Developments - The public fund industry is actively discussing the establishment of advisory shares, which are seen as a key reform direction [1] - Multiple fund companies are preparing systems and proposals to apply for advisory shares, indicating a proactive approach to this new initiative [2] - The introduction of advisory shares is expected to optimize fee structures, directly reducing the overall holding costs for investors [1][3] Group 2: Fee Structure and Transparency - Advisory shares will feature a specially designed fee structure that separates advisory service fees from fund share fees, promoting transparency [2][3] - The model aims to ensure that advisory institutions can earn fees based solely on the value of their services, fostering a trust-based relationship with clients [4][5] Group 3: Client Engagement and Trust - Building client trust is essential for the success of the advisory share model, as income will depend entirely on client-paid advisory fees [4] - Providing comprehensive wealth management services throughout the investment lifecycle is crucial for demonstrating the value of advisory services to clients [4][5] Group 4: Integration with Long-Term Trends - The development of advisory shares is expected to synergize with the growing popularity of ETFs and pension investments, enhancing the overall investment ecosystem [7] - The combination of low-cost, transparent ETF assets with the long-term nature of pension investments aligns well with the objectives of advisory shares, promoting a shift from product-driven to service-driven models [7]