元旦前的最后一天，公募销售新规出来了。 来源：市场资讯 从费率上看，总体降得还是很多的。 （来源：ETF智选） 主动偏股型基金的认购、申购费不得超过0.8%，指数型和债券型更是不得超过0.3%，找管理人直销（I份额）的话不得收取。 另外C份额的销售服务费也要降低，对于主动股票型第一年可以收取不超过0.4%的销售服务费，指数型第一年可以收取不超过 0.2%，第二年起"不得收取"。 但这里的用词是"可以"，而不是"应当"，不是强制规定。 所以，之后可能场外的指数型基金，在赎回费上就会有比较明显的差异，有的支持短线做T，有的不太支持。 这几周，持有场外指数产品的朋友，就需要重点关注各家基金公司调整赎回费的具体公告，之后尽量选择对个人投资者持有7天 以上会降赎回费的产品。 不过，C份额原来相对A份额的赎回费优势也没了。 现在A、C份额的赎回费都有共同的赎回费最低限制：持有少于7天就赎回，赎回费至少要交1.5%；持有7-30天，赎回费至少 1%；30天-180天，至少交0.5%。 而且村里还加了一句跟私募那边类似的规定：基金赎回费要全额计入基金财产。 私募那边的情况是，在赎回费计入基金财产之前，管理人是可以决定给投资人 ...

三、《招商瑞安1年持有期混合型证券投资基金招募说明书》及基金产品资料概要将根据《基金合同》 和《托管协议》的内容进行相应修改，并按规定更新。 四、重要提示 为更好地满足基金投资者的需求，降低投资者的理财成本，根据《中华人民共和国证券投资基金法》 《公开募集证券投资基金运作管理办法》《招商瑞安1年持有期混合型证券投资基金基金合同》（以下 简称《基金合同》）的有关规定，经与基金托管人平安银行股份有限公司协商一致，招商基金管理有限 公司（以下简称"公司"）决定于2025年12月10日起修改招商瑞安1年持有期混合型证券投资基金（以下 简称"本基金"）的《基金合同》及其他法律文件相关内容。现将具体事宜告知如下： 一、修改内容要点 1、本基金的基金管理费年费率由1.00%调低至0.60%。 2、删除本基金不同基金份额类别之间不得互相转换的相关表述。 3、本基金申购份额、赎回金额、现金红利和红利再投资形成的基金份额的余额处理方式由按舍去尾数 方法调整为按四舍五入方法计算，详见更新的《招商瑞安1年持有期混合型证券投资基金招募说明 书》。 ■■ 2、根据上述调整，对本基金的《托管协议》进行了相应修改。 2025年12月9日 M ...

Group 1 - The core point of the announcement is the reduction of management and custody fees for the 华夏中证银行 ETF and its linked fund, effective from December 2, 2025, with management fees decreasing from 0.50% to 0.15% and custody fees from 0.10% to 0.05% [1][2] - The fund management company has revised the relevant sections of the fund contracts to reflect the new fee rates, ensuring compliance with legal regulations and fund contract provisions [1][2] - The revised legal documents will be published on the fund management company's website and the China Securities Regulatory Commission's electronic disclosure website for investor access [1][2] Group 2 - The infrastructure project associated with the fund is the 150MWp photovoltaic power generation project in Hami, which aims to generate stable cash flow through electricity sales [4][7] - The operational management of the infrastructure project is stable, with no changes in the management team, ensuring continued effective management [4][7] - Recent changes in the leadership of the operational management institution, 特变新能源, are described as normal personnel adjustments that do not negatively impact the project's operations or cash flow [5][7]

Core Viewpoint - The bond market is experiencing a significant correction, but there is potential for stabilization and partial recovery in the near term, particularly in the fourth quarter, despite a generally weak long-term trend [1][2][3]. Group 1: Market Dynamics - The bond market has shown a comprehensive pullback, with notable declines in high-elasticity instruments such as 30-year government bonds and 10-year policy bank bonds, alongside a deeper drop in credit bonds, particularly those heavily held by funds [1]. - Historical patterns suggest that the bond market typically exhibits a "weak first, strong later" trend in the fourth quarter, but the situation in 2025 may differ, with expectations of no new policies leading to a "not weak, not strong" scenario [1][2]. - Recent actions by the central bank, including liquidity injections and major banks actively purchasing bonds, indicate a supportive stance towards current bond market pricing [1]. Group 2: Fund and Credit Market Influences - The recent bond market correction is partly attributed to discussions surrounding the adjustment of fund fee rates, which has led to "preventive redemptions" affecting public funds [2]. - The potential impact of fund fee adjustments may not be as immediate as anticipated, with a transition period likely, and no significant redemption signs currently observed in bank wealth management products [2]. - Insurance funds are gradually showing interest in long-duration bonds, particularly as the market stabilizes, with a preference for stable coupon bonds despite a potential decrease in demand for ultra-long bonds in 2025 [3]. Group 3: Future Outlook - The bond market is expected to enter a short-term stabilization phase, with previous negative factors already priced in, and a reduced likelihood of rapid declines [3]. - The outlook for October suggests a probable platform period for the bond market, with certain bond types, such as policy bank bonds and specific credit bonds, potentially experiencing recovery opportunities [3]. - Future attention should focus on the marginal changes in risk assets and allocation forces as the year-end approaches [3].

Group 1 - The management fee rate of the fund is adjusted from 0.70% to 0.40%, and the custody fee rate is adjusted from 0.20% to 0.10% [1][2] - The adjustments will take effect on September 17, 2025, and relevant documents such as the fund contract and prospectus will be updated accordingly [2][5] - The changes are not expected to have any substantial adverse impact on the interests of fund shareholders, and there is no need to hold a shareholder meeting [2][4] Group 2 - The company will publish the modified fund contract and custody agreement on its official website and the China Securities Regulatory Commission's fund electronic disclosure website [2][6] - Investors can consult details through the company's customer service center or official website [2][12] - The company has signed a sales agreement with Northeast Securities to expand the distribution of its funds starting from September 17, 2025 [9][10]

Core Viewpoint - Ant Fund's operating performance in the first half of 2025 showed significant growth, with net profit increasing nearly fourfold year-on-year, driven by a recovering A-share market and increased investor activity [1][3][7]. Financial Performance - Ant Fund's revenue for the first half of 2025 exceeded 9.25 billion yuan, representing a year-on-year growth of 22.46% [3][6]. - The net profit reached 434 million yuan, a staggering increase of 360.66% compared to the same period last year, nearly matching the total net profit for the entire previous year [3][6]. - The net profit margin for the first half of 2025 was 4.69%, up from 2.76% in 2024 [6]. Market Position - Ant Fund maintained its leading position in the industry, with significant growth in non-monetary fund, equity fund, and stock index fund holdings, all ranking first in their respective categories [9]. - The non-monetary fund, equity fund, and stock index fund holdings reached 1.45 trillion yuan, 738.8 billion yuan, and 320.1 billion yuan respectively in the second half of 2024, with substantial growth in absolute terms [9]. Industry Outlook - The recovery of the capital market is expected to further boost fund sales, enhancing the operational performance of fund sales institutions [10]. - However, challenges may arise from upcoming regulatory changes that could lower sales fees for public funds, potentially impacting revenue for third-party fund sales institutions [11].

Group 1 - Tianhong Fund Management Co., Ltd. has announced a fee waiver for the A-class fund shares of the Tianhong ChiNext Index Enhanced Securities Investment Fund during the promotional period from August 18, 2025, to December 1, 2025, for investors using the Hong Wallet or One-Click Purchase through the online direct sales system [1][3][15] - The applicable sales channels include Tianhong Fund's online direct sales system, such as the Tianhong Fund APP and WeChat public account [2][14] - The original subscription fee rate for the A-class fund shares can be found in the fund's legal documents, including the fund contract and prospectus [3][15] Group 2 - The management fee for the Tianhong ChiNext Index Enhanced Securities Investment Fund has been reduced from 0.50% to 0.15% per annum, effective from August 15, 2025 [8][20] - The custody fee for the fund has also been lowered from 0.10% to 0.05% per annum, effective from the same date [9][22] - The changes to the management and custody fees have been documented in the revised fund contract, custody agreement, and prospectus, which are effective from August 15, 2025 [10][23]

Core Insights - E Fund announced a reduction in the custody fee rates for two of its bond funds starting from July 11 [1] Group 1 - The custody fee for E Fund's Zhongzhai New Composite Index (LOF) will decrease from 0.10% to 0.05% annually [1] - The custody fee for E Fund's Investment Grade Credit Bond Fund will also be reduced from 0.10% to 0.05% annually [1]

Meeting Overview - The meeting of the fund's shareholders will be held via communication method from June 12, 2025, to July 8, 2025, with the counting date on July 9, 2025 [1][5][10]. Voting Process - Shareholders must submit their votes in written form, and the voting ballot can be obtained from the fund management's website or relevant newspapers [6][9]. - The voting ballot must be sent to the designated location, and the deadline for submission is July 8, 2025, at 17:00 [9][28]. Agenda Items - The main agenda item is the proposal to adjust the sales service fee rate and redemption fee rate for Class C fund shares [4][19]. Rights Registration - The rights registration date for participating in the meeting is June 12, 2025, and only those registered by the end of trading on that day can vote [5][12]. Proposal Details - The proposal includes a reduction in the sales service fee for Class C shares from 0.35% to 0.20% and maintains the redemption fee structure [24][25]. - The redemption fee for Class C shares will remain the same, with specific conditions for fees based on the holding period [24]. Decision Validity - The meeting will be considered valid if at least half of the total fund shares are represented in the voting [12][22]. - The resolutions passed will take effect immediately upon approval and must be reported to the China Securities Regulatory Commission [13][22]. Contact Information - The fund management company is 建信基金管理有限责任公司, and inquiries can be directed to their customer service [15][27].