How to reform the fee rate of public funds? The work arrangement of the China Securities Regulatory Commission has come with rates | funds | the China Securities Regulatory Commission
We will steadily reduce the comprehensive fee rate level of the public fund industry
The China Securities Regulatory Commission (CSRC) released the work arrangement for the reform of public fund fee rates yesterday. Specific measures include reducing the level of active equity fund fee rates, regulating fees in the sales process of public funds, and improving the disclosure mechanism of fee rates in the public fund industry. This will help promote the high-quality development of the public fund industry.
The fund rate reform plan released by the China Securities Regulatory Commission mainly includes adhering to fixed rate products and launching more floating rate products; Reduce the rate level of active equity funds; Reduce the commission rate for securities trading of public funds; Standardize the fees for the sales process of public funds; Improve the disclosure mechanism for fee rates in the public fund industry. Specifically, the management rate and custody rate of active equity funds will be uniformly reduced to no more than 1.2% and 0.2%. In addition, starting from today, the management rate and custody rate of newly registered products will not exceed 1.2% and 0.2%, respectively.
Multiple fund companies simultaneously announce rate reductions
The reporter noticed that with the release of the work arrangement for the reform of public fund fees, multiple fund companies have also announced the simultaneous reduction of fees. Some products with stock management fees higher than 1.2% and custody fees higher than 0.2% have been lowered, better meeting the investment and financial needs of investors and reducing their financial costs.
Zhang Xueyong, Dean of the School of Finance at Central University of Finance and Economics: Firstly, it is beneficial for fund investors because it reduces their costs. In addition, fund companies have shifted from simply pursuing scale in the past to focusing on management capabilities, which is conducive to the formation of a good fund and investor ecosystem. By leveraging the strong management capabilities of fund companies, we can provide investors with practical investment capabilities and returns, promote the healthy development of this industry, and increase its scale. This will also benefit the entire fund industry in serving the real economy in the future.
In the future, we will comprehensively optimize the rate model of public funds
In addition, the China Securities Regulatory Commission stated that in the future, it will comprehensively optimize the fee rate model of public funds, steadily reduce the industry's comprehensive fee rate level, gradually establish and improve a fee rate system mechanism that is suitable for China's national conditions and market conditions, and is suitable for the development stage of the public fund industry in China, promoting the healthy development of the industry and more coordinated, mutually supportive, and jointly realizing the interests of investors.