“迷你”基金转型难清盘难凸显制度短板

Core Viewpoint - The challenges faced by "mini" funds in convening shareholder meetings highlight shortcomings in the current system, leading to difficulties in fund transformation and liquidation [1][2][3] Group 1: Fund Liquidation and Transformation - As of December 21, 275 public funds have been liquidated this year, with 126 mixed funds, 51 bond funds, and 50 equity funds, accounting for 82.55% of total liquidations [1] - Many funds are struggling to convene shareholder meetings due to issues like "zero registration" and "zero voting," which have resulted in failed attempts to hold meetings [1][2] Group 2: Regulatory and Operational Challenges - The requirement for a shareholder meeting to approve fund transformations or liquidations has become a barrier, as many funds have protective clauses that now hinder necessary actions [2][3] - The inability to successfully convene meetings leads to increased operational costs for fund companies, wasting resources and complicating the management of these funds [3] Group 3: Industry Implications - The current situation serves as a warning for the fund industry, emphasizing the need for innovation and performance improvement to avoid investor disengagement [3] - There is a necessity for a floating fee rate model for all fund products to prevent the excessive issuance of products focused solely on scale rather than innovation and performance [3]