1. First of all, before the development of Internet funds, fund companies and bank sales agencies were the main sales channels of funds, among which bank sales agencies were the main force, but banks had high commissions. For some small and medium-sized fund products, the sales expenses of fund companies can even account for more than 10% of the fund's net value, resulting in lower actual income of the people. 2. Secondly, with the development of the Internet, fund sales platforms began to diversify, and the rise of Internet sales platforms greatly reduced sales costs. 3. Finally, with the intensification of competition in the fund market, fund companies also need to attract investors and increase market share by reducing the fund subscription fee. Therefore, the development of internet funds has also contributed to the decline of fund subscription fees.