公募基金费率改革，新方向！

Core Viewpoint - The fund advisory share is expected to become a new direction for the public fund industry, with a consensus forming around its importance for fee reform and enhancing investor experience [2][4]. Group 1: Fund Advisory Share Development - The establishment of advisory shares is seen as a crucial step in implementing fee reforms and promoting the "finance for the people" concept, directly reducing investors' overall holding costs [2][5]. - Multiple fund companies are preparing systems to apply for advisory shares, indicating a proactive approach to this new initiative [3][5]. - Advisory shares will be a separate class of fund shares specifically designed for fund advisory services, with a focus on optimizing fee structures to lower costs for investors [5][6]. Group 2: Industry Consensus and Challenges - The successful implementation of advisory shares relies on industry consensus and collaboration among market participants to develop standards and practices [6][10]. - The transition to advisory shares requires a shift towards more transparent fee structures that emphasize service value, drawing lessons from mature markets [10][11]. - The development of advisory shares faces challenges, including balancing short-term interests with long-term transformation goals, necessitating cooperation among fund management, sales institutions, and advisory firms [11][12]. Group 3: Integration with Long-Term Trends - The growth of advisory shares is expected to synergize with the proliferation of ETFs and pension investments, leveraging the low-cost and transparent nature of ETFs to enhance the advisory model [12]. - The combination of advisory shares with long-term pension investments can address the conflict between investors' long-term goals and short-term market fluctuations, promoting a shift from product-driven to service-driven approaches in the industry [12].