The fund custody fee refers to the fee charged by the fund custodian for keeping and disposing of the fund assets, which is collected by the fund custodian such as commercial banks and securities companies and will be deducted according to a certain proportion of the net asset value of the fund.
Fund custody means that commercial banks accept the entrustment of fund managers and represent the interests of fund holders. With the continuous development of asset management business in Public Offering of Fund, the fund custody market is becoming increasingly popular.
Fund custody means that commercial banks accept the entrustment of fund managers, represent the interests of fund holders, keep fund assets and supervise the daily investment operation of fund managers. Fund custodians independently open fund asset accounts, carry out liquidation and delivery according to the instructions of the administrator, keep fund assets, supervise the fund business operation within the scope stipulated in relevant systems and fund contracts, and charge a certain custody fee.
Agency open-end fund business standardizes the development of intermediary business of commercial banks. The disorder and vicious competition in the development of intermediary business of commercial banks have seriously restricted its normal and orderly development. With the transformation of commercial banks' operating mechanism and the enhancement of market awareness, intermediary business has become an important field of commercial banks' competition. Various behaviors have taken such factors as occupying the market, competing for deposits, lending, and increasing the scale. They adopted the strategy of charging little or no fees, and some banks even adopted the methods of providing business premises, equipping computers and arranging employment for customers. For example, interest rates are not marketized, which leads to "rent-seeking" and unfair competition between banks and enterprises. But more importantly, banks subjectively have the idea of increasing on-balance-sheet business and "filling the embankment outside". This has caused the disorderly development of intermediary business of commercial banks.
The outstanding performance of this situation is that the intermediary business charges less, and the fees are lower than the cost or even no fees. With the introduction of open-end funds, commercial banks can not only develop custody business, but also handle agency issuance, sales, redemption, sub-custody and transfer. The development of the fund reflects the development and perfection of financial markets such as capital market and money market to a certain extent, so it is inevitable. Its standardized and orderly development also urges commercial banks to adapt to market demand and compete and develop orderly in the process of agency and custody. Although the fund custody business is a new intermediary business of China's commercial banks, its laws and regulations are relatively perfect, and it is one of the rare new business varieties accompanied by corresponding mature laws and regulations since its birth.
Relevant policy documents, such as the Pilot Measures for Open-end Investment Funds and the Interim Provisions on Intermediary Business of Commercial Banks, have made detailed provisions on the types, scope and charging standards of open-end fund agency. As soon as this new business appeared, there were laws to follow and rules to follow, which standardized the business behavior of commercial banks and changed the disorderly situation that other intermediate new businesses of commercial banks faced vicious competition as soon as they were launched. This is of great significance to establish a good habit of bank intermediary business operation and adjust its business behavior and mode.