Public Fund Sales Fee Rules: How They Are Specifically Implemented - Detailed Interpretation

Recently, relevant departments held a training session on the interpretation of rules for public fund sales expenses. Article 12 of the “Management Regulations” states that for holdings generated from sales to non-individual investors, the customer maintenance fee obtained from selling stock funds and hybrid funds should not exceed 30% of the fund management fee; for other funds, the customer maintenance fee should not exceed 15% of the fund management fee. As for whether newly launched distribution channels for existing products during the rectification period also need to comply with the new commission ratio requirements, relevant departments stated that new sales channels for existing products should meet the requirements of the new regulations. (China Securities Journal Taurus)