5月23日，南都.湾财社记者获悉，26只新型浮动费率基金今日获证监会注册，预计很快就会向投资者发 售，投资者可通过商业银行、互联网平台等便利认购相关产品。记者了解到，首批产品均设置了1.2% (基准档)、1.5%(升档)、0.6%(降档)三档费率水平。 博时基金认为，此次获批浮动管理费率基金产品，与传统固定费率基金相比，一是通过费率优化设计， 让利持有一定期限以上的投资者，强化与投资者的利益绑定，有利于长期投资，进一步提升投资者获得 感。二是浮动管理费率基金产品强调超额收益，有利于激励和发挥公司专业化投研能力，为投资者创造 更好的回报。 值得关注的是，5月7日，证监会发布《推动公募基金高质量发展行动方案》，提出对新设立的主动权益 基金大力推行浮动管理费收取模式，推动行业实现从重规模向重投资者回报转型，督促行业回归"受人 之托、代客理财"的本源。方案中"建立与基金业绩表现挂钩的浮动管理费收取机制"，成为各方关注的 重点。 "此次新模式浮动费率产品的推出，标志着我国公募基金费率改革迈入新阶段。"中欧基金表示，与此前 的浮动费率试点相比，本次管理费率改革更突出的特点在于，进一步强化了业绩比较基准在基金投资过 程中的 ...

Core Viewpoint - The public fund industry in China is undergoing a significant fee reduction reform, with several major fund companies announcing lower management fees for their products, aimed at reducing investor costs and enhancing their experience [1][4]. Group 1: Fee Reductions by Fund Companies - Yifangda Fund has reduced the management fee for its two bond funds, with the annual management fee for the Yifangda Zhongzhai New Comprehensive Bond Index Fund decreasing from 0.3% to 0.15%, and the Yifangda Investment Grade Credit Bond Fund from 0.35% to 0.3% [3]. - Penghua Fund announced a fee reduction for its Penghua CSI Hong Kong Stock Connect Technology ETF, with the management fee dropping from 0.6% to 0.45% and the custody fee from 0.15% to 0.1%, effective May 9, 2025 [3]. - Huaxia Fund will lower the management fee for its Huaxia CSI Shanghai-Shenzhen-Hong Kong Gold Industry Stock ETF and its corresponding fund from 0.5% to 0.15%, and the custody fee from 0.1% to 0.05%, starting May 15 [3]. Group 2: Industry Trends and Regulatory Support - As of this year, the number of products with an annual management fee of 0.15% or lower has exceeded 1,000 for the first time in history, indicating a trend towards lower fees in the industry [3]. - The China Securities Regulatory Commission (CSRC) is actively promoting fee reductions, having implemented the first two phases of management and trading fee reforms, with a third phase targeting fund sales fees expected to save investors approximately 45 billion yuan annually starting in 2025 [4]. - The CSRC's action plan for promoting high-quality development in public funds includes measures to lower investor costs and will introduce regulations to manage public fund sales fees, encouraging timely fee reductions for large-scale index funds and money market funds [4].

数据来源：天天基金网；数据截至： 2025 年 5 月 21 日 据公开资料显示，浦银安盛品质优选A成立于2021年12月28日，成立之初基金经理为蒋佳良，后续曾在2022年7月 11日增聘杨达伟，两人共同管理至今。 华夏时报（www.chinatimes.net.cn）记者 叶青 见习记者 栗鹏菲 北京报道 公募基金行业近期迎来业绩比较基准改革，部分产品长期偏离基准的现象引发市场热议。其中，浦银安盛基金旗 下多只权益类产品因业绩大幅跑输基准，成为行业焦点。 《华夏时报》记者发现，浦银安盛基金首席权益投资官蒋佳良执掌的12只基金中有11只任期回报为负，部分产品 净值腰斩。叠加高层人事动荡、前基金经理涉"老鼠仓"被罚等事件，浦银安盛正面临投研能力与公司治理的双重 考验。 明星经理业绩"滑铁卢" 截至2025年一季度，蒋佳良管理的浦银安盛品质优选A过去三年净值下跌46.75%，同期业绩比较基准（沪深300指 数收益率×70%+恒生指数收益率×15%+中证全债指数收益率×15%）微涨0.46%，偏离幅度高达47.21个百分点。 天天基金网数据显示，截至2025年5月21日，浦银安盛品质优选A近三年、近两年业绩排名均 ...

Core Viewpoint - The public fund industry is experiencing a significant fee reduction trend, with the number of low-fee fund products exceeding 1000 for the first time, which is expected to lower investor costs and enhance their sense of returns [1][2][6][7]. Group 1: Fee Reduction Trends - Major public fund companies, including E Fund, Penghua Fund, and Huaxia Fund, have announced fee reductions for their fund products since May, with E Fund leading the charge by lowering management fees for its bond funds [3][4]. - E Fund's Zhongzhai New Comprehensive Bond Index Fund reduced its management fee from 0.3% to 0.15%, while its Investment Grade Credit Bond Fund decreased from 0.35% to 0.3% [3][4]. - The trend of fee reductions includes both large funds with over 10 billion yuan in assets and older products that have been in the market for over 20 years [4][5]. Group 2: Impact of Fee Reductions - The number of fund products with management fees at or below 0.15% has reached a historical high of over 1000, indicating a significant shift in the market [6][7]. - Specific funds that have lowered their fees include E Fund's Zhongzhai New Comprehensive Bond Index Fund and Huaxia's Gold Industry Stock ETF, which now has the lowest fee level in its category [4][8]. - Companies leading in the number of low-fee products include E Fund with 112, Huaxia Fund with 60, and Bosera Fund with 49 [8]. Group 3: Regulatory Support - The fee reduction trend is supported by regulatory initiatives, including the release of the "Public Fund Industry Fee Reform Work Plan" in July 2023, which encourages fund companies to lower their management fees [9][10]. - The China Securities Regulatory Commission (CSRC) plans to further reduce sales fees starting in 2025, potentially saving investors around 45 billion yuan annually [10][11].

丨 来源：经济日报 2025-05-12 为解决长期困扰行业的"基金赚钱，基民不赚钱"问题，《方案》提出建立与基金业绩表现挂 钩的浮动管理费收取机制、强化业绩比较基准的约束作用等举措，建立健全基金公司收入报酬与 投资者回报绑定机制。 目前我国主动权益类基金主要采用固定费率模式，按基金资产净值的一定比例收取管理费。 2023年7月，证监会启动公募基金行业费率改革工作，印发了《公募基金行业费率改革工作方 案》，提出在坚持以固定费率产品为主的基础上，研究推出更多浮动费率产品试点，完善公募基 金产品谱系，为投资者提供更多投资选择。 在浮动费率机制方面，《方案》提出，对新设立的主动管理权益类基金大力推行基于业绩比 较基准的浮动管理费收取模式，对符合一定持有期要求的投资者，根据其持有期间产品业绩表现 确定具体适用管理费率水平。如持有期间产品实际业绩表现符合同期业绩比较基准的，适用基准 档费率；明显低于同期业绩比较基准的，适用低档费率；显著超越同期业绩比较基准的，适用升 档费率。 "浮动管理费收取模式下，充分体现公募基金产品与基金持有人'同甘共苦'的特点。"嘉实基 金总经理经雷说。 强化业绩比较基准的约束作用，也备受业内关 ...

Report Industry Investment Rating There is no information provided about the report industry investment rating in the given content. Core Viewpoints of the Report The report focuses on the dynamic trends of the fund market, including market - wide reforms, product - related hotspots, overseas market developments, and fund issuance status. It indicates that the fund industry is undergoing significant changes, such as the launch of long - term assessment reforms for public funds and the in - depth advancement of fee reforms. Meanwhile, the ETF market has seen substantial capital inflows, and the private placement market is also showing signs of recovery and standardization [1][7][15]. Summary According to Relevant Catalogs 1. Fund Market Dynamics - The long - term assessment reform of public funds has begun, aiming to strengthen the alignment of interests between fund companies and investors. The China Securities Regulatory Commission issued the "Action Plan for Promoting the High - Quality Development of Public Funds" on May 7, proposing 25 reform measures in six aspects [7]. - The net self - purchase amount of public funds this year has exceeded 8 billion yuan. As of May 6, 103 public institutions have made 533 self - purchases, with a net purchase amount of 8.32 billion yuan, and money - market funds are the main target [7]. - 51 funds are scheduled to be issued this month, with passive investment and bond fund allocation as the two main lines. Equity products account for over 70%, and among bond funds, medium - and long - term pure - bond products are popular [8]. - The number of private - placement product filings in April reached a two - year high. As of April 30, 638 private - placement securities managers filed 1,170 products, a 12.18% increase from March, and stock strategies are the main type [10]. - The private - placement industry is moving towards standardized development. The Shanghai Securities Regulatory Bureau issued a notice to regulate the operations of private - placement fund managers in the region, and the Asset Management Association of China has issued nearly 200 disciplinary action notices this year [11]. - There were no new approvals for fund company establishment, QDII business qualifications, or fund company subsidiary establishment this week [12][13][14]. 2. Fund Product Hotspots - The fee reform of public funds is advancing towards "mechanism reconstruction", and fee - innovative products may be submitted soon. These products will charge management fees based on the holding time and annualized return of each investor's fund shares [15]. - The net inflow of ETFs this year is about 250 billion yuan. As of May 7, the net inflow of the ETF market exceeded 249.297 billion yuan, with stock ETFs accounting for over half [16]. - The first large - scale redemption occurred in the China Securities A500 Index Fund. The A - share of the F安达 China Securities A500 Index Enhanced Fund established on April 1 had a slight loss of 0.02% as of May 6 [17]. - The new issuance scale of equity funds this year accounts for over 50%. As of May 8, the new issuance scale of public funds exceeded 340 billion yuan, and equity funds accounted for over half [19]. - Newly - established funds are highly positioned in the technology field. Many newly - established funds have quickly entered the market, and most of them are technology - themed products [20]. - The binding effect of performance benchmarks has been strengthened, and public funds are frequently changing their benchmarks. As of May 8, 109 funds have changed their performance benchmarks this year [22]. - The heavy - position stocks of the first insurance - capital private - placement securities fund were revealed. As of the end of the first quarter, Honghuazhiyuan Private - Placement Securities Investment Fund held positions in Yili, Shaanxi Coal, and China Telecom [23]. 3. Overseas Market Tracking - SAB Invest launched Saudi Arabia's first quantitative ETF. The fund started trading on Monday, aiming to raise $100 million this year and generate an annual return about 2% higher than the Saudi market [25]. - Blackstone, Vanguard, and Wellington launched a private - market fund. The fund will allocate 60% to public stocks, 30% to fixed - income products, and 40% to private - market investments [26]. - Blackstone provided a 200 - million - euro guarantee for a UK railway arch project. The investment was used to purchase a 50% stake in 5,000 UK railway arches from TT Group [27]. 4. Fund Issuance Overview - Newly - established funds: 15 funds were announced to be established this week, with a total raised scale of 6.35 billion shares. The number and scale of newly - established funds are at the 77.88% and 86.54% quantile levels in the past two years, respectively, indicating low market issuance enthusiasm [30][31]. - Funds that ended fundraising: 8 funds ended fundraising this week, including index funds, hybrid funds, and FOF funds [34]. - Newly - issued funds: 27 funds were newly issued this week, including 18 index funds, 6 bond funds, and 3 hybrid funds. As of Friday, 66 funds are in the issuance period, and 41 funds have announced their issuance and will start fundraising soon [36]. - Newly - declared funds: 40 products were submitted to the CSRC this week, including 22 index funds, 9 hybrid funds, 6 bond funds, 2 FOF funds, and 1 REITs fund. Huatai - PineBridge Fund submitted the most products, with 5 [39].

Group 1 - The "Action Plan" aims to achieve a turning point for high-quality development in the public fund industry within approximately three years, introducing 25 policy measures to regulate the industry [1] - The plan emphasizes a virtuous cycle of "increased returns - influx of funds - market stability," reflecting a commitment to mutual development between fund managers and investors [1] - The introduction of clear performance benchmarks for funds is expected to enhance investor confidence and stabilize investment styles in the long term [2][4] Group 2 - The management fee structure will shift from a focus on scale to a focus on returns, with floating management fees linked to performance benchmarks for newly established actively managed equity funds [2][3] - The plan mandates that the management fee for these funds will be determined based on their performance relative to a set benchmark, with specific fee rates applicable depending on performance outcomes [2][3] Group 3 - Fund manager compensation will be closely tied to fund performance, with a requirement that performance metrics account for at least 80% of their evaluation [4][6] - The plan aims to reduce costs for investors by lowering management fees and sales service fees, particularly for index and money market funds [4][5] Group 4 - The overall salary levels in the public fund industry are expected to decline, with a reported 17% decrease in average salary from 2023 to 2024 for a leading fund management company [5] - Concerns have been raised about the potential increase in the trend of high-performing fund managers leaving for private equity, which may complicate investment choices for average investors [5] Group 5 - The "Action Plan" includes measures to enhance investor services, such as optimizing investment research and risk management resources, and establishing a direct sales platform for institutional investors [6][7] - The plan also addresses issues like "style drift" and aims to ensure that each fund has a clear performance benchmark to prevent misalignment between fund behavior and investor expectations [7] Group 6 - The public fund industry is currently facing challenges such as shrinking scales and declining revenues, with some companies reporting significant drops in net profits due to the fee reform [8][9] - The regulatory stance supports innovation and development among leading fund companies while promoting the growth of smaller firms through differentiated strategies [9]

近日，中国证监会印发《推动公募基金高质量发展行动方案》，行动方案指出要坚持以投资者为本的发 展理念，探索建立适合中国国情、市情的公募基金发展新模式。其中，优化主动管理权益类基金收费模 式，推行主动管理权益类基金与基金业绩表现挂钩的浮动管理费率收取模式，不仅是行业发展的必然趋 势，更是提升投资者获得感、推动行业高质量发展的重要举措。 第一，引入浮动管理费率产品将有效提升投资者获得感。基金费率是影响投资者决策和持有体验的重要 因素，收费模式的优化在提升投资者获得感的同时，也有助于增强投资者对公募基金的信任。 第二，优化模式双向激励，超额收益共享与业绩不佳返还机制并行，强化管理人责任。将管理费与基金 业绩表现密切挂钩，激励投研团队在防控风险，追求稳定收益的同时适度追求更好业绩。这不仅有利于 优质基金公司脱颖而出，也有助于提升整个行业的服务质量和投资绩效。 第三，费率改革助力行业高质量发展。公募基金行业费率改革促使基金公司更加注重投研能力和风险管 理，提升核心竞争力，吸引更多中长期资金进入市场，为资本市场注入稳定力量。 随着公募基金费率改革的持续深入，主动权益基金的收费模式将更加科学合理，投资者将享受到更优 质、更低 ...

公募基金费率改革迎来从"降费让利"向"机制重构"的纵深推进。 券商中国记者从业内获悉，近期，多家基金公司将会上报首批费率创新型基金。 和传统的浮动费率基金不同，该类基金的收费方式将更为细化，即按照每个投资者、每笔基金份额的持有时间、持 有期间的年化收益率来分档收取管理费。其中，基金份额持有时间少于365天，基金管理人仅能获取基础管理费，基 金份额持有时间大于等于365天，管理费收取与持有人持有期间的年化收益率挂钩。 证监会主席吴清今日在国新办发布会上表示，证监会将于当日发布《推动公募基金高质量发展行动方案》。他介 绍，改革突出强化公募基金与投资者的利益绑定，将优化主动权益类基金收费模式，业绩差的必须少收管理费，通 过浮动管理费收取机制，扭转基金公司"旱涝保收"的现象。同时，把业绩是否跑赢基准、投资者盈亏情况等直接关 乎投资者切身利益的指标，纳入基金公司和基金经理的考核体系，督促基金公司从"重规模"向"重回报"转变。 业内人士表示，这批产品将是基金行业一次重大创新，不仅牢牢锚定了持有人收益，实现了基金费率的"千人千 面"，而且可以实现基金管理人激励与投资者费率控制的有效平衡，推动基金管理人与投资者利益深度绑定。 ...

每经记者 李蕾 每经编辑 彭水萍 《每日经济新闻》记者从业内获悉，多家公募基金公司都收到了中证指数有限公司（以下简称中证指 数）和深圳证券信息公司（以下简称深证信息）这两大指数公司下调被动投资组合标的指数授权费的通 知。 从通知的具体内容来看，虽然不完全相同，但主要信息都包括以下几个方面：1、下调年化基点费率； 2、下调季度收取下限；3、扩大不设季度收取下限的指数产品范围；4、取消许可使用固定费等。此 外，方案都从4月1日起生效。 从具体内容来看，中证指数的调整方案主要包括以下几个方面： 1、取消许可使用固定费 自2025年4月1日起，所有新增授权的指数产品不再收取许可使用固定费；已获取授权的指数产品许可使 用固定费执行原协议收费方案至2025年3月31日。 2、调整许可使用基点费率 告知函发出之日前签署的指数许可使用协议，所有指数产品自2025年4月1日起基点费率下调20%；告知 函发出之日后签署的指数许可使用协议，所有指数产品适用下调后的基点费率标准。 也有公司表示，之前和指数公司有过预沟通，但目前还没收到正式通知函，"说后面会陆续通知"。 今年3月，多家基金公司发布公告称，旗下全部指数基金的指数使用费均 ...