The “Regulations on the Administration of Sales Expenses of Publicly Raised Securities Investment Funds” released today consists of six chapters and 29 articles. The core focuses on six major measures to effectively benefit investors: the first is to rationally reduce the level of public fund subscription fees, subscription fees, and sales service rates to effectively reduce investment costs. The second is to optimize redemption arrangements and make it clear that the full amount of public fund redemption fees is included in fund assets. The third is to encourage long-term holding. It is clear that investors will no longer charge sales service fees for non-commodity funds that have been held for more than one year to protect the interests of long-term holders. Fourth, adhere to the development direction of equity funds and set a differentiated upper limit on trailing commission payments. The fifth is to strengthen the regulation of fund sales expenses, solve industry issues such as interest attribution on fund sales and settlement funds and double charges for fund investment business in an integrated manner, and purify the sales ecosystem. The sixth is to establish a direct sales service platform for institutional investors in the fund industry to provide efficient, convenient and safe services for fund managers' direct sales business development and expand direct sales power.

The “Regulations on the Administration of Sales Expenses of Publicly Raised Securities Investment Funds” released today consists of six chapters and 29 articles. The core focuses on six major measures to effectively benefit investors: the first is to rationally reduce the level of public fund subscription fees, subscription fees, and sales service rates to effectively reduce investment costs. The second is to optimize redemption arrangements and make it clear that the full amount of public fund redemption fees is included in fund assets. The third is to encourage long-term holding. It is clear that investors will no longer charge sales service fees for non-commodity funds that have been held for more than one year to protect the interests of long-term holders. Fourth, adhere to the development direction of equity funds and set a differentiated upper limit on trailing commission payments. The fifth is to strengthen the regulation of fund sales expenses, solve industry issues such as interest attribution on fund sales and settlement funds and double charges for fund investment business in an integrated manner, and purify the sales ecosystem. The sixth is to establish a direct sales service platform for institutional investors in the fund industry to provide efficient, convenient and safe services for fund managers' direct sales business development and expand direct sales power.