Group 1 - The core viewpoint of the news is the launch and successful fundraising of the Southern Rui Xiang Mixed Securities Investment Fund, which features an innovative floating fee rate model linked to performance benchmarks, enhancing alignment between investors and fund managers [1][2] - The fund has been included in the "CITIC Excellent Products" pool, which focuses on optimizing asset allocation tools by leveraging the expertise and resources of various CITIC financial subsidiaries [2] - The fund employs a dual fund manager system, with managers Li Jinwen and Yuan Li, who complement each other’s investment strategies, focusing on quality value and sustainable company growth [1] Group 2 - The innovative floating fee rate model aims to share profits and risks between investors and managers, responding to the demand for high-quality development in public funds [1] - The successful fundraising reflects market recognition of the innovative fee structure and the professional team behind the fund [2] - Southern Fund plans to continue collaborating with partners like CITIC Bank and CITIC Securities to prioritize investor interests and seek long-term value in volatile markets [2]

Group 1 - The China Securities Regulatory Commission (CSRC) has released the "Action Plan for Promoting the High-Quality Development of Public Funds," which focuses on addressing pain points and bottlenecks in the industry, proposing 25 measures to guide the transformation of the public fund industry towards high-quality development [1][3] - The approval of the first batch of innovative floating fee rate funds, such as the Southern Rui Xiang Mixed Securities Investment Fund, marks a significant step in optimizing product supply in the public fund sector following previous fee reforms [1][3] Group 2 - The newly introduced floating management fee mechanism is designed to align the interests of fund managers and investors, enhancing the fiduciary duty of fund management and promoting a new ecosystem of mutual benefit between managers and investors [3][4] - The action plan specifies an optimized fee model for actively managed equity funds, implementing a floating management fee linked to fund performance, which will allow for lower fee rates for investors based on the fund's performance relative to benchmarks [3][4] - Southern Fund emphasizes that the floating fee mechanism will incentivize fund managers to improve their investment capabilities and performance, fostering a long-term investment approach and enhancing investor satisfaction [4]

Core Viewpoint - The approval of 26 new floating-rate funds by the regulatory authority reflects a strong commitment to implementing public fund reform and aligning fund company income with investor returns [1] Group 1: Regulatory Approval - 26 new floating-rate funds have been registered and are expected to be available for investors soon through commercial banks and internet platforms [1] - The funds were collectively submitted for approval on May 16, received acceptance on May 19, and were quickly approved on May 23, indicating the regulatory body's efficiency [1] Group 2: Fund Companies and Products - The following fund companies have submitted new floating-rate fund products: - E Fund: E Fund Growth Progress Mixed Securities Investment Fund - Fuguo Fund: Fuguo Balanced Allocation Mixed Securities Investment Fund - Value Fund: Value Stable Mixed Securities Investment Fund - Zhongou Fund: Zhongou Large Cap Smart Selection Mixed Fund - Jingshun Longcheng Fund: Jingshun Longcheng Growth Companion Mixed Fund - Others include Jia Shi, Huitianfu, Huaxia, Yinhua, and many more with a total of 26 products listed [1]

Core Viewpoint - The first batch of innovative floating fee rate products based on performance benchmarks has been reported, with 26 fund managers participating, indicating strong representation and capability in equity management [1][3][11]. Group 1: Product Overview - 26 fund management companies have quickly responded to the public fund reform policy by reporting the first batch of new model floating management fee products within ten days of the reform's implementation [3]. - The reported products are managed by well-performing fund managers, focusing on creating returns for investors [2][11]. Group 2: Fee Structure - Unlike traditional floating fee rate funds, the new model will have a more detailed fee structure based on each investor's holding time and annualized return during the holding period [7]. - If the holding period is less than 365 days, only the basic management fee can be charged; if it is 365 days or more, the management fee will be linked to the annualized return compared to the performance benchmark [7]. Group 3: Investment Strategy - The first batch of products will primarily invest in a broad market selection, benchmarking against mainstream indices such as CSI 300, CSI A500, and CSI 500 [8]. - The aim is to encourage long-term investment from investors, enhancing their overall investment experience [8][11]. Group 4: Future Developments - More fund managers are expected to follow suit in reporting similar products as they prepare adequately [9][11]. - The "Action Plan" stipulates that leading institutions should issue at least 60% of such funds compared to their actively managed equity funds within a year [10].