Core Viewpoint - Tianhong Fund announced a reduction in the custody fee for its Tianhong Yu'ebao money market fund from 0.08% to 0.07%, effective September 23, marking the first fee reduction in the fund's 12-year history [2][5] Group 1: Fee Adjustments - Tianhong Yu'ebao's management fee remains at 0.3% and the service fee at 0.25%, resulting in a total fee rate of 0.62% after the adjustment [5] - Other money market funds, including E Fund and Guoxin Guozheng, have also announced fee reductions, indicating a trend across the industry to lower costs for investors [3][4] Group 2: Market Context - As of June 30, 2025, Tianhong Yu'ebao's total scale reached 793.2 billion, making it the largest public fund in the market [2] - The average 7-day annualized yield for money market funds has declined from approximately 1.35% at the beginning of the year to 1.23% as of September 22, with Tianhong Yu'ebao's yield at 1.02% [4] - The current monetary environment is expected to remain loose, with cash management products continuing to offer advantages despite lower yields compared to bank deposits [4]