New regulations on sales expenses implemented; two public funds exempt from subscription fees

Gelonghui February 24 | Caitong Asset Management’s latest announcement shows that starting from February 24, there will be no purchase (subscription) fees for funds bought through Caitong Asset Management’s direct sales channels. The “Regulations on the Management of Sales Fees for Publicly Offered Securities Investment Funds” will come into effect on January 1, 2026, clearly stating that fund managers are not allowed to charge purchase (subscription) fees or sales service fees for direct sales. The transition period is 12 months. As of now, two public fund managers, Xingquan Fund and Caitong Asset Management, have announced that they will waive direct sales purchase (subscription) fees.