New-style floating-rate funds expand participation scope

Journalists learned from industry sources that regulatory authorities recently issued an institutional supervision notice, optimizing the registration arrangements for new-model floating-rate products. Following the principles of "classified supervision and steady progress," the scope of participating institutions has been expanded to include medium-sized fund managers with leading active equity fund management scale. After the adjustment, differentiated filing arrangements are implemented based on the type of fund manager: First, the number of new-model floating-rate products issued by top-tier fund managers shall, in principle, be no less than 60% of the number of their actively managed equity funds issued, continuing the previous pilot requirements; second, for newly included medium-sized fund managers, the proportion shall, in principle, be no less than 30%; third, small and medium-sized fund managers are supported in proactively deploying new-model floating-rate products based on their own circumstances.