Fund handling fee includes subscription fee, redemption fee and management fee. The subscription fee standard of each fund is different, and it is generally discounted. The redemption fee varies according to the holding time of the fund. The longer you hold it, the cheaper the redemption fee will be. Management fees are generally accrued in the fund assets and are not charged to investors separately.
I. Fund cost structure
Before talking about the fund rate, let me briefly talk about the business entities involved in a fund from production to sales.
1. The fund manager is responsible for the production, investment and operation of the fund. General fund companies assume this role. For example, you often hear about Huaxia Fund, E Fund, harvest fund Fund and Tian Hong Fund.
2. The custodian of the fund is responsible for managing the fund. In order to prevent fund companies from messing around, each fund will have a fund custodian, whose role is generally a bank or brokerage.
3. The fund sales platform is responsible for selling this fund to investors. Fund companies have no customers and no traffic. Selling funds will generally be handed over to banks, Alipay, WeChat Licaitong, Tian Tian Fund and other platforms.
Two. Rate levels of various funds
The funds we usually contact the most are mainly money funds, bond funds and equity funds. Among them, stock funds are divided into active management funds and passive management funds (namely index funds).
The rate is basically proportional to the risk level of the fund. Generally speaking, the freight rate is the lowest, followed by debt base and stock base.
Before buying a fund, you must look at the rate structure and level of the fund you buy.
Take Alipay as an example. You have to check the fund rate, see it in the "trading rules".
There is no redemption fee for the money fund, only management fee, sales service fee and custody fee.
Take CCB's cash increase currency as an example (below), the management fee is 0. 15%, the custody fee is 0.05%, and the sales service fee is 0. 15%.
Bond funds still take China Merchants Double Bond Enhanced Bonds as an example:
Subscription fee: The more you buy, the cheaper it is. Less than 1 ten thousand, that is, 8 thousand yuan, discount 1. The bank doesn't give a discount, 1800 yuan.
Redemption fee: there is a punitive redemption fee, which will be charged for less than 7 days 1.5%. This punishment is very heavy. It is good that a debt base can achieve more than 6% a year. If you buy it for fun and sell it within 7 days, the direct loss will be 1.5%.
Management fee: 0.6%, which is not cheap.
Custody fee: 0.2%, not cheap.
Sales service fee: 0.
The active and passive rates of stock funds are quite different. The operating cost of passive index funds is low, at least there is no need to hire a big bull fund manager or raise a stock researcher.
This is also one of the reasons why Buffett recommended index funds. Because spending money to support active fund managers may not be able to outperform the market.