下周发行！26只“新基金”，有何不同？

Core Viewpoint - The approval and upcoming issuance of the first batch of 26 innovative floating fee rate funds represent a significant shift in the public fund industry towards performance-based fee structures, aiming to enhance investor returns and align fund management with investor interests [2][3][5]. Group 1: Fund Approval and Issuance - The first batch of 26 performance-based innovative floating fee rate funds received approval just one week after submission, indicating a highly efficient regulatory process [3]. - These funds are set to begin issuance on May 27, with multiple fund companies targeting around 1 billion yuan in issuance goals [7]. Group 2: Industry Response and Implications - The floating management fee fund reform is seen as a powerful means to optimize actively managed equity funds and shift the industry focus from scale to returns [2][3]. - Fund companies emphasize that this new fee structure will encourage long-term holding by investors and strengthen the performance benchmark's role in fund operations [5][10]. Group 3: Fee Structure and Management - The new floating fee structure consists of a base management fee plus an excess management fee, with the potential for significant adjustments based on performance relative to benchmarks [4][10]. - The fee adjustments are asymmetrical, allowing for a maximum increase of 25% in management fees during good performance, while a decrease of up to 50% is possible during poor performance, prioritizing investor protection [4][10]. Group 4: Managerial Expertise and Strategy - Fund companies are deploying experienced managers with a track record of stable performance to lead these new products, indicating a commitment to quality management [6]. - Companies are focusing on enhancing their investment strategies and aligning them with the new fee structures to ensure better risk-return profiles for investors [8][10]. Group 5: Market Positioning and Future Outlook - The innovative fee structures are designed to be more precise and tailored to individual investor experiences, moving away from traditional one-size-fits-all approaches [9][11]. - The industry anticipates that this floating fee model will become a standard practice, with more products expected to be launched in the future [8][12].