The expenses involved in the fund operation process can be divided into two major categories: one is the expenses incurred in the (fund sales) process, and the other is the expenses incurred in the fund management process.

1. Fees during the fund sales process:

In the fund sales process, investors need to pay certain fees when purchasing fund products. These fees mainly include:

< p>Sales service fee (front-end fee): Also known as subscription fee, it is a fee paid by investors when purchasing fund shares. It is usually calculated as a certain proportion of the purchase amount and is directly deducted from the investor's purchase amount.

Redemption fee (back-end fee): It is the fee paid by investors when they redeem (sell) fund shares. It is usually related to the holding time. The longer the holding time, the higher the redemption rate. The lower.

Management fee (management expense rate): It is the fee used by the fund management company for fund management and operation. It is usually calculated as a certain proportion of the fund's net asset value and deducted on a daily basis.

Custody fee: It is a fee charged by the fund custodian for providing fund custody services and is deducted from the fund assets.

Sales service fee (sales commission): It is a fee paid by fund sales agencies to promote fund products. This fee is usually borne by the fund company.

2. Fees in the fund management process:

In the fund management process, the fees that the fund company needs to pay mainly include:

Fund management fee (management fee) Expense rate): It is the expense used by fund companies for fund management and investment research. It is usually calculated as a certain proportion of the fund's net asset value and deducted on a daily basis.

Fund custody fee: It is a fee paid by the fund company to the fund custodian, which is used to custody the fund assets and ensure the safety of the fund assets.

Transaction costs: These are the fees paid by fund companies to the stock exchange, including transaction commissions and stamp taxes generated by buying and selling securities.

The payment of these fees generally affects the Fund's actual investment return. Investors need to choose fund products that suit them based on their own investment needs and risk tolerance. At the same time, fund companies need to set these fees reasonably in accordance with regulatory regulations and market competition to ensure the stability and transparency of fund operations and safeguard the legitimate rights and interests of investors. The transparency and fairness of fund sales and management fees are also one of the important factors that investors need to consider when choosing fund products.