Core Viewpoint - The introduction of a new batch of floating management fee funds by various fund management companies reflects a shift towards more diversified investment strategies, including thematic funds, to meet the varying needs of investors [1][4]. Group 1: Fund Management Companies - Multiple fund management companies, including E Fund, CCB, Guotai, Southern, Bank of China, and others, have submitted applications for a second batch of 11 new floating fee model products, consisting of 2 equity funds and 9 mixed equity funds [4]. - The new floating management fee structure is designed to strengthen the binding effect of performance benchmarks, aligning the interests of fund managers and investors more closely [3]. Group 2: Floating Management Fee Structure - The new floating management fee model includes three tiers: a base rate of 1.2%, an increased rate of 1.5%, and a decreased rate of 0.6%, similar to the first batch of products [2]. - Investors redeeming their shares after one year will be charged based on the fund's performance relative to the benchmark, with specific fee rates applied depending on whether the fund meets, exceeds, or falls short of the benchmark [2]. Group 3: Thematic Investment Focus - The introduction of thematic funds, such as the Invesco Great Equipment Fund, highlights the importance of high-end equipment as a core support for modern industrial systems and a significant part of the technology investment landscape [2]. - The new funds aim to cater to investor demand for quality technology investment tools while supporting national initiatives for technological innovation and industrial development [2].

Core Viewpoint - The second batch of 11 new floating fee rate products has been reported, indicating a positive market response and a strong outlook for the development of such products in the asset management industry [1][3]. Group 1: New Products Overview - The second batch includes 2 equity funds and 9 mixed funds, with a total of 11 products submitted by various fund managers [1]. - The products are designed with a tiered management fee structure: 1.2% (base tier), 1.5% (upper tier), and 0.6% (lower tier), similar to the first batch [3]. - The new products focus on specific industries or themes, including high-end equipment, pharmaceuticals, and manufacturing, differing from the first batch which consisted of general market selection funds [3]. Group 2: Market Response and Fundraising - The first batch of 26 new floating fee rate products raised a total of 22.68 billion yuan, with an average fundraising size of 9.45 million yuan per product, significantly higher than the average of 4.4 million yuan for other active management equity funds this year [4][5]. - The rapid approval and successful fundraising of the first batch reflect the regulatory body's commitment to public fund reform and enhancing investor returns [5]. - The floating fee rate products aim to align management fees with the long-term returns of investors, fostering a "shared benefits, shared risks" mechanism [5].

Core Viewpoint - The second batch of innovative floating fee rate products has been reported, consisting of 11 products, with 2 being equity funds and 9 being mixed funds focused on stocks [1][2]. Group 1: Product Details - The second batch includes a fee structure similar to the first batch, with three tiers: 1.2% (benchmark tier), 1.5% (upward tier), and 0.6% (downward tier) [1]. - Investors redeeming after one year will be charged based on performance relative to the benchmark, while those redeeming within a year will incur a standard management fee [1]. - The new products also include thematic funds focusing on industries such as high-end equipment, pharmaceuticals, and manufacturing, differing from the first batch which consisted solely of broad market selection funds [2][3]. Group 2: Market Response and Performance - The first batch of 26 floating fee rate products raised a total of 22.68 billion yuan, with 24 products successfully completing fundraising by the end of June [5]. - The average fundraising size per product was approximately 944.5 million yuan, significantly higher than the average of 440 million yuan for other actively managed equity funds in the same period [5]. - The positive market response indicates strong support from fund companies, reflecting a shift towards aligning fund management fees with investor returns [4][5].

Core Viewpoint - The second batch of performance-based innovative floating fee rate products has been submitted for approval, consisting of 11 products, including 2 equity funds and 9 mixed funds, following the successful fundraising of the first batch of 26 products which raised a total of 22.68 billion yuan [1][8]. Summary by Sections Product Submission and Structure - The second batch includes 11 products with a fee structure of three tiers: 1.2% (benchmark), 1.5% (upward adjustment), and 0.6% (downward adjustment) [1]. - Investors redeeming after one year will be charged based on performance relative to the benchmark, while those redeeming within a year will incur a standard fee [1]. Differences from First Batch - Unlike the first batch, which consisted solely of all-market stock selection funds, the new products include four that focus on specific industries or themes, such as high-end equipment, pharmaceuticals, and manufacturing [4][3]. Fundraising Performance - The first batch of products has seen a positive fundraising outcome, with 24 out of 26 products successfully raising a total of 22.68 billion yuan by the end of June, averaging 944.5 million yuan per product, significantly higher than the average of 440 million yuan for other actively managed equity funds in the same period [8][7]. Market Response and Future Outlook - The market response has been largely positive, with many fund companies expressing confidence in the new floating fee rate model, which aligns with the industry's trend towards high-quality development [5][6]. - The introduction of these products is expected to strengthen the alignment of interests between fund managers and investors, promoting a long-term investment mindset [6].