Core Viewpoint - The article highlights a significant trend in the mutual fund industry, where over 20 funds have announced fee reductions within the first seven trading days of July, indicating a continued push for lower costs for investors as part of ongoing reforms in the public fund fee structure [1][3]. Summary by Sections Fee Reductions Announced - More than 20 funds have officially announced fee reductions since the beginning of July, including mixed, bond, money market, and FOF products [1][3]. - Notable examples include: - E Fund reduced the custody fee for two bond funds from 0.10% to 0.05% [3]. - Guotai Junan Fund lowered the management fee for its flexible allocation fund from 0.90% to 0.55% [3]. - Guotai Fund decreased the management fee for its fixed-term open fund from 0.40% to 0.30% and the custody fee from 0.10% to 0.05% [3]. - Fortune Fund adjusted the management fee for its pension target date fund from 0.60% to 0.40% for Class A shares and from 0.30% to 0.20% for Class Y shares [3]. Broader Trends in Fee Structures - A variety of money market funds have also reduced management, custody, and sales service fees recently [4]. - Several funds are offering promotional fee reductions, such as a significant drop in sales service fees for specific funds [4]. Growth of Low-Fee Products - The number of fund products with management fees at or below 0.15% has reached 1,050 [6]. - Approximately 30 funds have actively reduced their fees to the low-fee range of 0.15% or below this year [7]. Future Fee Reform Expectations - The ongoing fee reform includes three phases, with the third phase focusing on reducing sales fees, which is expected to save investors around 45 billion yuan annually starting in 2025 [7]. - Recommendations for future reforms include prioritizing the reduction of sales service fees and optimizing redemption fees to encourage long-term investment [7][8]. - There is a potential shift towards more flexible sales service fees based on the duration of investment holdings, which could enhance the balance between institutional and investor interests [8].