Attached:

On March 15, 2007, the Fund Department of China Securities Regulatory Commission issued a notice to all fund management companies and fund custodian banks, requiring fund managers to adjust the calculation method of subscription fees and subscription shares of managed funds according to the "deduction method" from the date of issuance of the notice, and complete the adjustment within three months.

Before the publication of 10, each fund company stipulated its own subscription fee collection method, and most funds adopted the "internal deduction method", that is, the subscription fee was equal to the subscription amount multiplied by the applicable subscription rate. A new fund with a scale of 100 billion shares, each of which is 1 yuan. If the subscription rate is 1%, the total subscription fee paid by investors is: 1000 billion shares × 1% = 1000 million yuan.

After unified as "external deduction method", the subscription fee is equal to the subscription amount minus the net subscription amount calculated according to the subscription rate. The above-mentioned 65.438+0 billion new fund adopts the "deduction method", and the total subscription fee paid by investors is:100-100/(1+1%) = 0.9901100 million yuan.

It can be seen that for a 100 billion fund, if the "external deduction method" is adopted, investors will always pay about 990,000 yuan less for the subscription fee.

The manager of the sales department of a fund company said that the subscription (subscription) fee of the fund is gradually standardized, and the "external deduction method" is used for calculation, from which fund investors will benefit and pay less subscription fee. Correspondingly, the agency income of this business will also decrease.