Group 1: Fund Sales Performance - In the first half of 2025, Tian Tian Fund achieved a record fund sales amount of 1.05 trillion yuan, marking a historical high for the same period [3] - Non-monetary fund sales reached 626.04 billion yuan, representing a year-on-year growth of 25.29% [3] Group 2: Industry Trends and Innovations - China Europe Fund emphasizes a transformation towards "professionalization, industrialization, and digitalization," which is seen as a core philosophy for future development [4] - The concept of "China Europe Manufacturing" is described as a practical and replicable methodology for enhancing investment capabilities [4][5] Group 3: ETF Market Developments - The first science and technology bond ETF, managed by Jiashi Fund, surpassed 20 billion yuan in scale, becoming the first of its kind to reach this milestone [6] - As of August 13, the overall scale of science and technology bond ETFs exceeded 1.1 trillion yuan, with eight products entering the "billion club" [7] Group 4: Fund Management Strategies - China Europe Fund's manager emphasizes the importance of long-term orientation, consistent processes, and team collaboration for sustainable performance [5] - The focus is on building an organization capable of continuously generating investment insights rather than short-term performance [5] Group 5: Regulatory and Market Changes - Several QDII funds have recently resumed normal subscription operations or increased subscription limits, although some have also implemented stricter purchase limits [8] - The market has seen a rise in floating-rate funds, with notable products exceeding 20 billion yuan in fundraising [9][13] Group 6: Performance Metrics - As of August 11, 2025, 131 products from Guangfa Fund had a one-year growth rate exceeding 30%, with 52 products growing over 50% and 20 products over 70% [14] - The overall performance of bank-managed public equity products has improved, with 90% of products showing positive annualized returns [15]

公募基金费率改革不断提速 第二批浮动费率基金发行节奏显著快于预期 从渠道获悉，中欧核心智选混合基金因募集规模突破20亿元提前结束发行，易方达价值回报混合同样宣 布提前结束募集，第二批浮动费率基金发行节奏显著快于预期。近年来，公募基金费率改革不断提速。 自证监会今年5月发布《推动公募基金高质量发展行动方案》以来，浮动费率机制被视为行业重点试点 方向。此次中欧核心智选、易方达价值回报混合的提前结募，反映出该类产品正获得市场快速认可。有 业内人士指出，浮动费率基金通过将管理费与投资者收益直接挂钩，实现"多赚多收、少赚少收"，在利 益共担的机制下，有望强化基金经理的责任感与长期投资动力。 (证券时报) 存量改规则、新品新机制 权益类基金加大分红力度 数据显示，截至8月13日，今年以来基金分红总额达到1415亿元，较去年同期大幅增长近40%。其中， 权益类基金分红金额猛增，达到348.84亿元，是2024年同期的3倍多。权益类基金分红金额激增的原因 主要有两方面：一是业绩打底，今年权益类基金整体表现强劲；二是基金公司对投资者体验的重视程度 不断提升，通过分红增强持有人获得感。（上证报） 沪指突破拉动公募赚钱效应 股基增 ...

Core Viewpoint - The rapid acceptance of floating fee rate funds in the market is highlighted by the early closure of fundraising for the China Europe Core Smart Mixed Fund and the E Fund Value Return Mixed Fund, indicating a shift in investor preferences towards performance-linked fee structures [1][2][4] Group 1: Fundraising and Market Response - The China Europe Core Smart Mixed Fund raised over 2 billion yuan and ended its fundraising early, becoming the first in the second batch of floating fee rate funds to exceed this threshold [2] - The E Fund Value Return Mixed Fund also announced an early closure of its fundraising period, reflecting a strong market response to these new fund types [2][3] - The second batch of floating fee rate funds has entered a competitive phase earlier than expected, with 12 new products approved and launched [3] Group 2: Fee Structure Reform - The China Securities Regulatory Commission (CSRC) has initiated a reform of public fund fee structures, promoting floating fee mechanisms that link management fees to fund performance [4][5] - The new fee structure aims to align the interests of fund managers and investors, encouraging better risk management and performance [5][6] - The CSRC's action plan emphasizes investor interests and aims for at least 60% of new active equity fund products to adopt floating fee structures within a year [4] Group 3: Advantages of Floating Fee Rate Funds - Floating fee rate funds are designed to enhance the alignment of interests between fund managers and investors, promoting a shared risk and reward model [5][6] - The new fee mechanism allows for differentiated fee structures based on holding periods, encouraging long-term investment while managing liquidity [6] - The performance evaluation system is closely tied to benchmarks, aiming to minimize style drift and enhance active management capabilities [6]

【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 ...