Today, the reporter learned from the industry that in order to regulate the development of fund investment business, protect the legitimate rights and interests of fund share holders, implement the relevant requirements of the “Provisions on the Management of Sales Expenses of Publicly Raised Securities Investment Funds”, and provide references and suggestions for the industry to establish fund investment advisory shares in an orderly manner, the Fund Industry Association issued relevant notices to fund investment pilot institutions and the like. According to the notice, Class T shares refer to the fund share category established by the fund for individual investors for the fund investment advisory business. There are no subscription fees or customer maintenance fees for Class T shares. In principle, Class T share management fees are charged at 60% of the original fund management fee. Starting from January 1, 2027, fund investment advisory pilot institutions that simultaneously carry out fund sales business, or have related parties under the same control carry out fund sales business, should allocate T shares to investors in the new business; for stock business, they can gradually transition to using T shares in the process of prioritizing investor interests and optimal execution in the process of fund portfolio strategy adjustment, etc.

Today, the reporter learned from the industry that in order to regulate the development of fund investment business, protect the legitimate rights and interests of fund share holders, implement the relevant requirements of the “Provisions on the Management of Sales Expenses of Publicly Raised Securities Investment Funds”, and provide references and suggestions for the industry to establish fund investment advisory shares in an orderly manner, the Fund Industry Association issued relevant notices to fund investment pilot institutions and the like. According to the notice, Class T shares refer to the fund share category established by the fund for individual investors for the fund investment advisory business. There are no subscription fees or customer maintenance fees for Class T shares. In principle, Class T share management fees are charged at 60% of the original fund management fee. Starting from January 1, 2027, fund investment advisory pilot institutions that simultaneously carry out fund sales business, or have related parties under the same control carry out fund sales business, should allocate T shares to investors in the new business; for stock business, they can gradually transition to using T shares in the process of prioritizing investor interests and optimal execution in the process of fund portfolio strategy adjustment, etc.