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Tencent News "First Line"

Author: Zhu Yuting Editor: Liu Peng

The mutual fund industry is continuing to reduce fees. Recently, after many banks introduced a 10% discount on their fees,China Merchants BankAnnounced that it will fully implement a subscription fee rate as low as 10% since 2023.ICBC、China Construction Bank、Bank of CommunicationsMany banks have launched preferential fund purchase rate activities.

Prior to this, third-party sales agencies such as Ant Fund also normalized the 10% discount on subscription fees. According to Ant Fund data, based on the 10% discount on subscription fees, as of June 30, it is estimated that users will save more than 1.8 billion yuan in transaction fees in the first half of 2024.

In July 2023, the fee reform of the public fund industry was officially launched.It is understood that the first phase mainly involves reducing the management fees and custody fees of active equity fund products, uniformly reducing them to below 1.2% and 0.2%. Wind data shows that as of the end of June, more than 3,000 public funds have reduced their fees in the past year. The second phase will reduce the transaction commission rate and lower the upper limit of the proportion of securities trading commissions allocated by fund managers.

At present, the first and second phase measures have been implemented.It is estimated that the first two phases of rate reform measures can save investors a total of approximately 20 billion yuan each year.

The third phase focuses on reducing fees in the fund sales process. In response to this, many fund sales agencies have actively responded by continuing to offer 10% off the subscription fee.

An insider in the public fund industry believes that the fee reform in the public fund industry has effectively reduced investors' transaction costs, improved investors' perceived returns, and will promote the fund industry to move to a "customer-centric" buyer era.