---
title: "Some large collective products are waiting for the last train of transformation, with management fees and yield rates \"inverted,\" causing controversy"
description: "Some brokerage firms' public collective investment products will expire by the end of 2025, with most transitioning to public offering products, while some products will choose to liquidate. A few pro"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/271849776.md"
published_at: "2026-01-07T23:12:42.000Z"
---

# Some large collective products are waiting for the last train of transformation, with management fees and yield rates "inverted," causing controversy

> Some brokerage firms' public collective investment products will expire by the end of 2025, with most transitioning to public offering products, while some products will choose to liquidate. A few products are applying for extensions, planning to extend until the first quarter or mid-year of 2026, hoping to transform into public offering products through cooperation with fund companies

By the end of 2025, the existing public offering collective investment products of securities firms will gradually expire, with most transforming into public offering products and some heading towards liquidation. However, a few products are playing the "extension card," extending their duration to the first quarter or mid-year of 2026. It is understood that these products hope to change to public offering products through cooperation with fund companies

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.