Core Viewpoint - The announcement by 16 fund companies regarding the issuance of floating fee rate fund products marks a significant step in the innovation of fee mechanisms within the public fund industry, providing investors with new investment options [1] Group 1: Fund Details - The new floating fee rate fund, named Bosera Zhuorui Growth Stock Fund, will officially launch on May 27, with class A (code: 024452) and class C (code: 024453) [1][2] - This fund is classified as an equity fund, with a stock allocation of 80%-95% of the fund's net value, and a maximum of 50% of the fund's assets can be invested in Hong Kong Stock Connect [2] Group 2: Fee Mechanism Innovation - The floating management fee rate fund offers significant advantages over traditional fixed fee rate funds, enhancing the alignment of interests between fund managers and investors, and promoting a long-term investment philosophy [4] - The fee structure includes three tiers: a benchmark rate of 1.2%, an increased rate of 1.5% for outperforming benchmarks by 6%, and a reduced rate of 0.6% for underperforming benchmarks by 3% [5][6][7] - If investors redeem their shares within one year, a standard management fee of 1.2% will apply, encouraging long-term investment [8] Group 3: Differentiated Management - The new fee mechanism represents a major innovation, linking management fees directly to the actual performance of investors after a certain holding period, emphasizing the best interests of investors [9] - The mechanism allows for a "one client, one share" approach, enabling a differentiated management model that reflects each investor's actual investment experience and returns [9] - The fund's performance will be anchored to a benchmark, incentivizing fund managers to enhance their investment capabilities and research systems [9]

Group 1 - The fund name is Bosera Zhuorui Growth Stock Investment Fund, with a fundraising period from May 27, 2025, to June 27, 2025 [13][15] - The fund is a contract-based open-end stock investment fund, managed by Bosera Fund Management Co., Ltd., and the custodian is China Construction Bank [1][3] - The minimum initial subscription amount is RMB 1,000, including subscription fees, and the same applies for additional subscriptions [2][19] Group 2 - Investors must open a "fund account" and a "trading account" to subscribe to the fund, with only one fund account allowed per investor [2][20] - Subscription applications can be submitted multiple times during the fundraising period, but once accepted, they cannot be withdrawn [3][12] - The fund's assets can be invested in various financial instruments, including domestic stocks, bonds, and asset-backed securities [6][10] Group 3 - The fund's investment strategy allows for a stock allocation of 80%-95% of total assets, with up to 50% of stock assets in Hong Kong stocks [10] - The fund may also invest in derivatives such as stock index futures and options, which carry inherent risks [8][9] - The fund's management fee structure includes fixed and performance-based fees, which may vary based on the holding period and annualized return [11][12]

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].