在理论界，对我国证券投资基金管 理费用设计的研究非常少。而在实务界， 对我国基金管理费用的争论是一个非常 热门的话题。现阶段，我国无论是开放式 还是封闭式基金，其管理费用都是按日 基金资产净值乘以一定的年费率计提， 逐日累计至每月月底，按月支付。也就是 说我国基金管理费用是一直按固定比率 计提。因此，很多业内人士认为：我国现 行基金管理费用计提制度存在问题，如 固定比率计提方式未与业绩挂钩，各种 不同投资风格的基金在计提管理费用时 In theory, there are few studies on the design of the management fees of China’s securities investment funds. In practice, the controversy over the cost of fund management in China is a very hot topic. At this stage, regardless of whether China is an open or closed-end fund, its management fees are accrued by the daily net asset value of the fund multiplied by a certain annualized rate, which is paid up to the end of each month on a daily basis and paid on a monthly basis. In other words, our fund management fees have been accrued at a fixed rate. Therefore, many people in the industry think: There are problems in China’s current fund management fee accrual system. For example, the fixed rate accrual method is not related to performance. When funds of different investment styles are withdrawn from management fees