Core Viewpoint - The early closure of the China Europe Core Select Mixed Fund, which raised over 20 billion yuan, indicates a strong market acceptance of floating fee rate funds, reflecting a shift in the public fund industry towards performance-based fee structures [1][2][3]. Group 1: Floating Fee Rate Fund Overview - The China Europe Core Select Mixed Fund became the first product in the second batch of new floating fee rate funds to exceed 20 billion yuan, closing its fundraising period ahead of schedule [1][3]. - This fund was initially set to raise funds from August 4 to August 15, with the final fundraising day moved to August 12 due to high demand [3]. - The floating fee rate mechanism links management fees directly to investor returns, promoting a shared interest between fund managers and investors [2][3][5]. Group 2: Market Dynamics and Competition - The second batch of 12 new floating fee rate funds was approved on July 24, with five being first-time applicants and seven having participated in the first batch [4]. - The early closure of the China Europe Core Select Fund suggests that competition among these new products has intensified [4]. - Analysts believe that as floating fee rate mechanisms gain acceptance, these funds may establish a stable audience among long-term investors [4]. Group 3: Advantages of Floating Fee Rate Products - The floating fee rate structure is designed to align the interests of fund managers and investors more closely, encouraging better risk management and performance [5][6]. - This new fee model emphasizes investor protection and aims to shift the focus of fund companies from merely expanding scale to enhancing investment returns [6][7]. - The mechanism allows for differentiated fee structures based on holding periods, promoting long-term investment while managing liquidity [6]. Group 4: Regulatory Context and Future Outlook - The China Securities Regulatory Commission (CSRC) initiated a reform of public fund fees, introducing floating fee rate products as part of a broader strategy to enhance fund performance and investor returns [7]. - The CSRC's action plan aims for at least 60% of new floating fee rate products to be issued by leading institutions within a year, indicating a significant shift in the industry [7].

【导读】首只超 21 亿元浮费产品提前结募 中国基金报记者 曹雯璟 首只，来了！ 8 月 12 日，中欧核心智选混合基金发布公告称，募集截止日由 8 月 15 日提前至 8 月 12 日， 8 月 13 日（含当日）起不再接受投资者 的认购申请。 记者从业内了解到，中欧核心智选混合基金首募规模超 21 亿元，这也是首只募集规模超 21 亿元的浮费产品。从销售渠道来看，银行仍占 据主导地位， 其中兴业银行贡献了绝大多数的销售规模 。 8 月 12 日， 中欧核心智选混合基金 发布提前结募公告。据了解，该基金是行业首只募集规模超 21 亿元的新型浮动费率基金产品（以下 简称浮费产品）。 至此，第二批新型浮动费率基金中，已有两 只产品宣布提前结束募集。 首只超 21 亿元浮费产品提前结募 除了上述三只产品，国泰优质核心混合已于 8 月 11 日正式发行，募集份额上限为 30 亿份。该基金业绩比较基准为沪深 300 指数收益率 ×60%+ 中证港股通综合指数收益率（经估值汇率调整） ×20%+ 中债新综合全价（总值）指数收益率 ×20% 。 首批 26 只新型浮费基金已经建仓 多数正收益 业内人士表示，浮动费率基金本 ...

Core Viewpoint - The launch of new floating rate fund products is a significant step in advancing public fund reform and promoting high-quality development in the public fund industry [1][6]. Group 1: Product Launch and Features - The second batch of 12 new floating rate fund products has been approved, with three products from E Fund, China Europe Fund, and CCB Fund starting sales on August 4 [2][5]. - The management fee structure for the three products includes three tiers: a base rate of 1.2%, an increased rate of 1.5%, and a reduced rate of 0.6%, depending on the fund's performance relative to benchmarks [2][3]. - China Europe Fund's product includes a "quarterly dividend" clause, allowing investors to receive cash dividends without redeeming their shares, enhancing the holding experience [3]. Group 2: Regulatory and Market Context - The China Securities Regulatory Commission (CSRC) emphasizes optimizing the fee structure for actively managed equity funds, linking management fees to fund performance to avoid guaranteed income for fund companies [4][6]. - The first batch of 26 floating rate products raised a total of 25.9 billion yuan, averaging about 1 billion yuan per product, indicating strong market interest [4][5]. - The second batch of products expands from broad market selection to more specialized thematic strategies, covering sectors like manufacturing, high-end equipment, and healthcare [5][6]. Group 3: Future Outlook - More products are expected to be launched in the future, with the industry anticipating further expansion of floating rate fund offerings [1][6]. - E Fund aims to refine its performance assessment system to better align with investor interests and promote long-term value creation [6].

Market Overview - On August 1, the market experienced fluctuations with the three major indices slightly declining, and the total trading volume in the Shanghai and Shenzhen markets was 1.60 trillion CNY, a decrease of 337.7 billion CNY compared to the previous trading day[2] - The Shanghai Composite Index saw a net outflow of 2.381 billion CNY, while the Shenzhen Composite Index had a net inflow of 2.675 billion CNY[4] Sector Performance - The sectors with the highest net inflows were photovoltaic equipment, traditional Chinese medicine, and logistics, while the sectors with the highest net outflows included semiconductors, components, and ground weaponry[4] - The pharmaceutical and education sectors showed resistance but did not exhibit complete trends, indicating potential areas for continued observation[1] Economic Policy Insights - The National Development and Reform Commission (NDRC) announced that the 800 billion CNY list of "two heavy" construction projects has been fully allocated, and 735 billion CNY of central budget investment has been largely distributed[5] - The NDRC plans to implement a "AI+" initiative to enhance the application of artificial intelligence, indicating a focus on technological advancement[5] Long-term Investment Directions - Long-term investment opportunities are expected to be centered around industries supported by national policies, particularly in new energy and computing power sectors[1] - The NDRC is also working on establishing a list of national-level zero-carbon parks, which may present future investment opportunities[5] Fund Dynamics - The second batch of floating fee funds is set to launch, with three products scheduled for issuance on August 4, including a medical innovation fund with a fundraising cap of 3 billion CNY[12] - The number of private equity securities investment funds from insurance companies has increased to six, indicating a growing trend of long-term capital inflow into the market[13]

首批26只浮动费率基金于5月底发行，合计募资近260亿元。 浮动费率基金即将迎来扩容。第二批12只新模式浮动费率基金中的3只已披露招募说明书等文件，定档8 月4日发行。 【导读】易方达、中欧、建信等公司旗下第二批浮动费率基金，8月4日起发行 第二批浮动费率基金启动发行 7月24日，第二批12只新模式浮动费率基金获批，其中的易方达价值回报、中欧核心智选、建信医疗创 新3只产品已披露招募说明书、发售公告等文件，定于8月4日首发。 具体发行档期上，中欧核心智选定于8月15日结束募集，易方达价值回报、建信医疗创新则分别定于8月 20日、8月22日结束募集。 从募集规模上看，建信医疗创新设置了30亿元的发行上限，另外两只基金均未设置募集上限。 此次发行的3只浮动费率基金均派出"精兵强将"管理。其中，易方达价值回报拟任基金经理唐博伦为金 融数学硕士，现任易方达港股通红利混合、易方达稳泰一年持有混合的基金经理。 《行动方案》发布后，基金行业首批26只新模式浮动管理费率主动管理偏股型基金于5月16日上报，5月 23日获批，当月27日开始陆续启动募集。截至7月21日，首批产品均已完成募集，合计募集规模达259亿 元，平均募集规 ...

浮动费率基金即将迎来扩容。第二批 12只新模式浮动费率基金中的3只已披露招募说明书等文件，定档8月4日发行。 首批 26只浮动费率基金于5月底发行，合计募资近260亿元。 第二批浮动费率基金启动发行 7月24日，第二批12只新模式浮动费率基金获批， 其中的易方达价值回报、中欧核心智选、建信医疗创新3只产品已披露招募说明书、发 售公告等文件，定于8月4日首发。 具体发行档期上，中欧核心智选定于 8月15日结束募集，易方达价值回报、建信医疗创新则分别定于8月20日、8月22日结束募集。 【导读】易方达、中欧、建信等公司旗下 第二批浮动费率基金，8月4日起发行 中国基金报记者 方丽 陆慧婧 费率结构上，三家管理人均设置了 1.2%（基准档）、1.5%（升档）、0.6%（降档）三档费率。投资者持有一年以后赎回产品，基本符合 同期业绩比较基准的，适用基准档费率；年化收益水平低于业绩比较基准3个百分点的，适用低档费率；取得正收益且年化收益超越业绩比 较基准6个百分点的，适用升档管理费率。投资者持有不到一年就赎回，则不适用分档安排，按基准档费率收取管理费。 业绩比较基准方面，易方达价值回报的业绩比较基准设定为中证 800指 ...