基金的业绩比较基准是什么？

Core Viewpoint - The China Securities Regulatory Commission (CSRC) issued an "Action Plan for Promoting the High-Quality Development of Public Funds," emphasizing the implementation of a performance-based floating management fee model for newly established actively managed equity funds, and strengthening the constraints of performance benchmarks [1]. Summary by Category Performance Benchmark Definition - The performance benchmark is a critical "baseline" set by fund companies based on fund type, investment scope, philosophy, and strategy, allowing comparison of fund returns to assess whether excess returns are generated and their stability [1]. Types of Performance Benchmarks - Index Return Type: The most commonly used form, typically a single index or a combination of index returns, or a combination of index returns with other rates (e.g., current deposit rates) [2]. - Market Interest Rate Type: Based on market interest rates, often adding or subtracting a fixed rate, such as "one-year RMB time deposit rate (after tax) +2%," commonly seen in money market funds and some pure bond funds [2]. - Absolute Value Type: Defined by a specific value, such as "annualized return of 6%," often used by funds seeking absolute returns, though less common [3]. Implications of the Action Plan - The Action Plan proposes establishing a floating fee mechanism linked to fund performance, promoting a model where fund company income is tied to the excess returns generated by the fund, fostering a healthier industry development and aligning investor interests [3].