32万亿公募基金市场迎变：告别规模焦虑 基金公司回归重回报

Group 1 - The core viewpoint of the news is the introduction of the "Action Plan for Promoting High-Quality Development of Public Funds" by the China Securities Regulatory Commission, which aims to address issues such as "guaranteed returns" and "emphasis on scale over performance" in the public fund industry [1][3] - The public fund market has seen rapid growth, with total assets increasing from 13 trillion yuan in 2019 to approximately 32 trillion yuan by the end of March this year [2] - The Action Plan includes 25 measures to enhance the governance and positioning of fund companies, emphasizing the importance of investor interests and adjusting the assessment of key personnel to align with investor benefits [3][10] Group 2 - The introduction of a floating management fee model based on performance benchmarks for newly established actively managed equity funds is a significant focus of the Action Plan [4] - As of the end of 2024, there are 59 floating fee funds established since 2013, with a total scale of 71.481 billion yuan [5] - The floating management fee mechanism is expected to incentivize fund managers to improve investment capabilities and performance, thereby enhancing the relationship between fund managers and investors [5][6] Group 3 - The Action Plan is seen as both a challenge and an opportunity for fund companies, with those providing long-term stable returns likely to stand out [9] - Fund companies are expected to enhance their core investment research capabilities as a foundation for high-quality development [10] - The emphasis on investor education and understanding of fee structures is crucial for better investment decision-making [9][10]