2. Fund expenses generally include two categories: one is the expenses incurred by fund investors themselves during the fund sales process, which mainly include subscription fees, subscription fees, redemption fees and fund conversions. fee. These fees are generally charged directly when investors subscribe, subscribe, redeem or convert. The subscription fee can be charged when the investor purchases the fund, which is the front-end subscription fee; it can also be charged when the investor sells the fund, which is the back-end subscription fee. The fee rate generally decreases according to the holding period. The other category is the expenses incurred during the fund management process, which mainly include fund management fees, fund custody fees, information disclosure fees, etc. These expenses are borne by the fund assets. For money market funds and some bond funds that do not charge subscription or redemption fees, a certain fee can be accrued from the fund assets at a ratio of no more than 2.5‰, specifically for the sales of the fund and for fund holders. services.