Reform of fund fees may affect short-term bond funds, and wealth management companies are considering three alternative paths.

Recently, the Securities Regulatory Commission solicited public opinions on the "Regulations on Management of Sales Expenses of Publicly Offered Securities Investment Funds", and proposed setting a lower limit on fund redemption fees for different holding periods. Industry insiders believe that this move may increase the redemption costs of short-term holding funds, thereby affecting the investment value of high liquidity products such as short-term bond funds. As important institutional investors in short-term bond funds, financial management companies are actively seeking countermeasures. It is learned from the industry that financial management companies are mainly considering three alternative paths: direct bond trading, allocating bonds through separate accounts, and investing in bond ETFs and interbank CD index funds.