告别风格漂移！业绩比较基准新规征求意见，头部机构密集发声

Core Viewpoint - The implementation of the new guidelines and operational rules for performance benchmarks in the public fund industry marks a significant step towards a more standardized, transparent, and professional development in China’s public fund sector [2][9]. Summary by Sections Regulatory Changes - The China Securities Regulatory Commission and the Asset Management Association of China have issued draft guidelines and operational rules for performance benchmarks, inviting public feedback [2]. - The new regulations aim to enhance the binding of interests between fund companies and investors, providing better services and improving investor satisfaction [2][9]. Impact on Fund Management - The new rules require fund managers to strengthen the tracking, evaluation, and disclosure of performance benchmarks, which will help prevent "style drift" and clarify product positioning [4][5]. - The guidelines emphasize the importance of performance benchmarks in guiding investment strategies and ensuring that fund managers adhere to the agreed investment strategies [5][7]. Industry Response - Multiple public fund institutions have expressed strong support for the new regulations, viewing them as a means to translate high-quality development principles into actionable measures [9][10]. - Fund companies are expected to implement the new rules actively, ensuring compliance with the established benchmarks and enhancing the overall investment experience for clients [9][10]. Investor Benefits - Clear performance benchmarks will help investors form reasonable return expectations and accurately assess the risk-return characteristics of products, aiding in informed asset allocation decisions [10][12]. - The new guidelines are anticipated to improve the transparency and reliability of performance benchmarks, allowing investors to objectively evaluate fund managers' capabilities [10][12].