益民基金解读《推动公募基金高质量发展行动方案》：基于基准的长周期考核推动公募基金行业回归本源

Group 1 - The core viewpoint of the news is the introduction of the "Action Plan" by the China Securities Regulatory Commission (CSRC) aimed at promoting high-quality development in the public fund industry, addressing issues such as operational philosophy deviations and unbalanced development structures [1] - The reform measures focus on enhancing the performance evaluation and incentive mechanisms for public funds, emphasizing long-term performance, benchmark comparisons, and investor interests [1][2] - Fund companies are required to establish a performance evaluation system centered on investment returns, with at least 80% weight on product performance metrics for fund managers, and implement long-term assessment mechanisms [1][2] Group 2 - The new evaluation mechanism is expected to strengthen the investment research capabilities of public funds, encouraging a more scientific approach to portfolio management and enhancing the overall research level across the industry [2] - The reform aims to address issues such as performance deviation and style drift, promoting a shift from short-term ranking pursuits to long-term stable returns, thereby benefiting investor interests [2] - The new mechanism is anticipated to reshape institutional investment behavior, leading to more stable holdings and reduced short-term volatility in fund net values, which could enhance the attractiveness of the A-share market for long-term capital [2] Group 3 - Smaller institutions are encouraged to focus on "boutique strategies and niche markets," leveraging efficient research and incentive mechanisms to build differentiated competitive advantages [3] - The integration of AI technology and systematic research development is highlighted as a means for firms like Yimin Fund to innovate product strategies while controlling risks and ensuring stable long-term returns [3]