Completely wrong! No matter where you buy, your money must be transferred to the custodian of this fund, that is, a bank. Each fund has its own custodian bank. This is a system that aims to protect the safety of investors’ funds and prevent fund companies from misappropriating them. When you buy online, you only save the handling fee charged by the bank. The funds have already been remitted to the bank, so you still have to pay the custody fee.

The management fee is actually the profit extracted by the fund company. It is generally 1.5% annual rate, accrued on a daily basis, and has been deducted from the fund net value announced by the fund company. Investors do not need to pay separately.