Generally speaking, there are two kinds of expenses involved from investors' purchase of funds to redemption: the first kind, the expenses directly borne by investors, or one-time expenses.

(1) Subscription fee: it is the fee charged to investors who purchase funds during the fund raising period. At present, the subscription rate of domestic open-end stock funds is generally 1% ~ 2% of the subscription amount, and the subscription rate of replicated funds is 2%, which is the highest charging standard.

(2) Subscription fee: Subscription fee is the fee charged to investors who subscribe for the fund after the fund contract takes effect. According to the laws of China, the subscription rate shall not exceed 5% of the subscription amount. The subscription rate of domestic open-end stock funds is generally 1% ~ 2% of the subscription amount. Money market funds generally do not charge subscription fees.

(3) Redemption fee: Redemption fee is the fee deducted from the redemption money when the investor redeems. According to the laws of China, the redemption rate shall not exceed 5% of the redemption amount. The balance of the redemption fee income after deducting the basic handling fee belongs to the fund. At present, the redemption rate of domestic open-end stock funds is generally 0.5%, the redemption rate of bond funds can be as low as 0, and money market funds generally do not charge redemption fees. The redemption fee charged by some capital preservation funds is relatively high, and there are certain penalties for early redemption, and the rate is usually around 2%.

The second category is the operating cost of the fund, or the annual fee during the holding period. Fund operating expenses are expenses deducted from fund assets to maintain fund operation, which are indirectly borne by investors.

(1) Fund management fee: refers to the fee paid to the fund manager who actually uses the fund assets and provides professional services for the fund, that is, the remuneration collected by the manager for managing and operating the fund.

(2) Fund custody fee: This fee is paid from the fund assets and does not need to be charged to investors separately.

(3) Other expenses: mainly including securities transaction fees, sales service fees, information disclosure fees, accountants' fees and lawyers' fees related to the fund, holders' meeting fees, etc. These expenses are also directly deducted from the fund assets as the operating cost of the fund.