On March 31, the disclosure of the annual report of public funds in 2021 was completed, and the overall situation of management fee, sales service fee, custody fee and transaction commission for the whole year surfaced. According to the data of Tianxiang investment consulting, the management fee income of public funds in 2021 was 141639 billion yuan, an increase of about 52%, and the payment of custody fees and transaction commissions reached 28.722 billion yuan and 21.306 billion yuan respectively.
management fee income increased significantly
On March 31, the annual report data of public funds in 2021 according to the statistics of Tianxiang investment adviser showed that the fund management fee income increased significantly in 2021. 147 fund managers (including fund companies, securities companies, insurance asset management, etc.) who disclosed the annual report received management fee income of 141639 billion yuan from fund assets, exceeding 100 billion yuan for the first time, an increase of 48.527 billion yuan over the previous year.
In terms of classification, the management fee income of the four major types of funds: stock, hybrid, bond and currency in 2021 was 19.762 billion yuan, 74.319 billion yuan, 17.729 billion yuan and 24.381 billion yuan respectively, an increase of 57%, 79%, 15% and 18% respectively compared with 2020. The management fee income brought by partial stock funds increased significantly.
From the perspective of fund companies, the three companies with the highest management fee income are e fund, GF fund and huitianfu fund. The management fee income in 2021 was 10.606 billion yuan, 7.382 billion yuan and 7.037 billion yuan respectively. In addition, Wells Fargo fund, Huaxia Fund, South Fund, China Europe Fund and harvest fund all received management fees of more than 5 billion yuan. In terms of the growth of management fees, e fund increased the most, with an increase of nearly 5 billion yuan compared with 2020, GF fund increased by more than 3 billion yuan, and Wells Fargo fund, huitianfu fund, China Europe Fund and Huaxia Fund increased by more than 2 billion yuan.
However, the management fee is not fully included in the fund company's bag. Banks, third-party platforms and other sales channels should take a share, and customer maintenance fee (i.e. "trailing Commission") is an important expenditure item. According to the statistics of Tianxiang investment consulting, excluding the funds without customer maintenance fees, the funds included in the statistics paid 40.862 billion yuan of customer maintenance fees to sales institutions in 2021, an increase of 16.574 billion yuan over the previous year.
transaction commission increased by 57.52% year on year
In terms of custody fees, the fund custody fees totaled 28.722 billion yuan in 2021, a year-on-year increase of 44.56%. For banks, the custody business is basically a business that makes no loss. The fund custody fee income of Industrial And Commercial Bank Of China Limited(601398) in 2021 exceeded 5 billion yuan, and the custody fee income of China Construction Bank Corporation(601939) and Bank Of China Limited(601988) reached 4.536 billion yuan and 3.375 billion yuan respectively China Merchants Bank Co.Ltd(600036) , Agricultural Bank Of China Limited(601288) , Bank Of Communications Co.Ltd(601328) and other custody fee income exceeded 2 billion yuan.
In 2021, the stock trading volume of public funds reached 27.03 trillion yuan, a significant increase of 58.07% over 17.10 trillion yuan in 2020. In 2021, the trading commissions paid by public funds to securities companies amounted to 21.306 billion yuan, significantly higher than 13.526 billion yuan in 2020, with a year-on-year increase of 57.52%. Specifically, in 2021, 13 fund companies paid commissions of more than 500 million yuan to securities companies, of which Wells Fargo fund and huitianfu fund paid the most commissions, reaching 1.296 billion yuan and 1.207 billion yuan respectively; The commission paid by China Europe Fund, China Southern Fund and Guangdong Development Fund followed closely, with more than 900 million yuan.
What is the share of each brokerage in the "cake" of RMB 21.306 billion commission? In 2021, the commission income from public offering of 19 securities companies exceeded 500 million yuan, of which Citic Securities Company Limited(600030) occupied the first place, and the commission income reached 1.469 billion yuan. The top five securities companies with commission income are Citic Securities Company Limited(600030) , Changjiang Securities Company Limited(000783) , Gf Securities Co.Ltd(000776) , China Securities Co.Ltd(601066) securities and China Merchants Securities Co.Ltd(600999) .
In addition, in 2021, the 8612 funds included in the statistics incurred a total of 18.982 billion yuan of sales and service fees, with a year-on-year increase of 25.69%. Among them, the fund sales service fee of Tianhong fund is the largest, reaching 2.534 billion yuan.
