第二批来了，A股又迎“生力军”！

Core Viewpoint - The approval of the second batch of 12 new model floating fee rate funds marks a significant step in the development of the public fund industry, providing investors with innovative investment tools and enhancing the alignment of fund management fees with investor returns [3][10]. Summary by Sections Approval of New Funds - On July 24, the second batch of 12 new model floating fee rate funds received approval and will be launched sequentially [3]. - Among the fund managers, five are applying for the first time, while seven have previously participated in the first batch [3]. Fee Structure - The funds maintain a three-tier management fee structure: 1.2% (base), 1.5% (upward adjustment), and 0.6% (downward adjustment) [4]. - Investors redeeming after one year will be charged based on performance relative to benchmarks, while those redeeming within a year will incur the base fee [4]. Product Diversification - This batch extends to industry or thematic products for the first time, with four focusing on sectors like manufacturing and healthcare [6]. - The performance benchmarks for these products include major indices like the CSI 300 and thematic indices for specific sectors [6]. Performance Thresholds - The first batch set thresholds for performance adjustments, with the second batch introducing differentiated arrangements for some products, enhancing performance accountability [7]. - The design of these products reflects a deeper push for reform in the public fund industry, aiming to better meet investor needs [7]. Market Response - The first batch raised nearly 26 billion yuan, significantly outperforming the average fundraising for similar funds this year [8][9]. - The approval of floating fee rate funds aligns with the regulatory push for high-quality development in the public fund sector, emphasizing the importance of performance in fund management [9][10]. Future Outlook - The introduction of the second batch is expected to normalize the registration of new model floating fee rate products, further aligning the interests of fund managers and investors [10].