Because this fund didn't add an explanation about the collection of additional management fees in a prominent position in the detailed introduction of Alipay, it didn't mention it in the fund's selling rules (it was only added in the newly updated selling rules these days), but it was hidden in the "conditions for extracting additional management fees" in the fund's hundreds of pages of prospectus.

As an investor who often buys funds through online channels, it is usually not easy to read the prospectus one by one, so he will buy this fund without knowing it. After knowing it, all the positions have been cleared. It is really unacceptable to charge 20% attachment management fee after the profit exceeds 1.5% in the next closing period, because the trigger condition for charging 20% additional management fee after exceeding the basic profit is too low.

To sum up, if you buy this fund without explicitly telling you to charge extra management fees, its increase is worse than that of the 300 index fund in the same period. In this case, you have to charge such a high extra management fee, and you will stay away from Xingquan products in the future.

Fund income:

1, income of fund management company from operating fund assets. This kind of income mainly comes from interest income, dividend income, capital gains, capital appreciation and so on. After deducting the fund's operating expenses (including administrator's expenses and custodian's expenses), the rest of these proceeds will be used for the distribution of fund securities.

2. Income from fund holders' investment in fund securities. It mainly comes from the distribution of fund income and the bid-ask price difference of fund securities.