基金收费模式创新

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费率与业绩直接挂钩
Jin Rong Shi Bao· 2025-05-27 01:39
据了解,首批26只产品在5月16日申报,于5月19日获受理,并于5月23日获批。市场人士认为,这充分 体现了市场各方对《推动公募基金高质量发展行动方案》(以下简称《行动方案》)的积极响应和落 实。 5月24日,继首批浮动费率基金产品获批仅一天后,16只基金发布公告,于5月27日开始发行浮动费率产 品,认购截止日期集中在6月中下旬。 此前,公募基金行业在2023年曾推出3类浮动费率基金,将管理费与基金规模、基金业绩、投资者持有 时间挂钩。而此次获批的浮动费率产品则将管理费率与投资者持有时间以及相对业绩比较基准的超额收 益水平挂钩,注重构建基金管理人与投资者利益共担机制。 首批浮动费率产品发行 记者了解到,目前,已有16家基金管理人发布份额发售公告等文件,明确相关产品于5月27日开售,募 集结束时间则有所不同,整体来看,大多数集中在6月17日至30日。在募集金额方面,个别基金产品设 置了50亿元的上限,多数则未设置募集上限。例如,易方达成长进取混合、华夏瑞享回报混合设置了50 亿元的募集上限,还有发起式产品中欧大盘智选混合型发起式设置了最低募集份额不少于1000万份的限 制。 同日,证监会发布《行动方案》明确要求 ...
多家券商将客户保证金利率降至0.05%;首批新型浮动费率基金将发行
Mei Ri Jing Ji Xin Wen· 2025-05-25 23:59
Group 1: Margin Rate Reduction by Brokerages - Multiple brokerages have lowered client margin interest rates to 0.05%, aligning with the bank's current deposit benchmark rate [1] - The margin interest rate has seen several reductions since September 2022, dropping from 0.25% to 0.05% by May 2025, significantly reducing annual interest income for clients [1] - This reduction reflects a continuous decline in funding costs and intensifying competition in brokerage services, potentially leading to profit margin compression for brokerages [1] Group 2: Launch of Floating Rate Funds - The first batch of 26 floating rate funds has received approval from the CSRC and is set to launch on May 27, marking a significant innovation in fund fee structures [2] - The fee structure incentivizes fund managers to prioritize investor interests, with varying fee rates based on performance relative to benchmarks [2] - This new model may enhance the attractiveness of products for fund companies while increasing performance pressure on them [2] Group 3: Regulatory Updates on Sponsoring Representatives - The update from the China Securities Association regarding the suspension of 15 sponsoring representatives signals a strict regulatory environment aimed at improving the quality of underwriting services [3] - The violations primarily relate to IPOs and private placements, indicating ongoing compliance risks in critical areas of investment banking [3] - This regulatory action is expected to enhance investor protection and may lead to necessary adjustments in business practices for affected investment banks [3] Group 4: Recovery of Private Fund Scale - The total scale of private funds in China has returned to 20.22 trillion yuan, reflecting a recovery in market confidence [4][5] - Private equity funds dominate the sector, accounting for 54.2% of the total, indicating a strong focus on long-term investments and technological innovation [4] - The growth in private securities investment funds suggests increasing interest in the secondary market, contributing positively to the overall vitality of the capital market [5]