基金公司收入报酬，应由基民回报说了算

Core Viewpoint - The recent regulatory changes aim to enhance the binding mechanism between fund company income and investor returns, addressing long-standing issues in the fund industry, such as style drift and performance discrepancies between fund companies and investors [1][2][3] Group 1: Regulatory Changes - The China Securities Regulatory Commission (CSRC) has issued a consultation draft for performance benchmark guidelines, emphasizing the need for fund managers to establish a comprehensive control mechanism covering benchmark selection, disclosure, monitoring, correction, and accountability [1] - The guidelines also require fund managers to create a performance evaluation system centered on fund investment returns, linking compensation to these returns [1][4] Group 2: Industry Issues - The fund industry has faced criticism for significant performance volatility, where fund companies profit while investors incur losses, leading to a disparity in expectations regarding fee structures and compensation mechanisms [2][3] - Investors have expressed dissatisfaction with the current income distribution system, particularly during market downturns when fund managers continue to receive high compensation despite poor fund performance [2][3] Group 3: Future Directions - The CSRC plans to revise compensation assessment rules and refine specific indicators for evaluating fund manager performance, integrating benchmark-related assessment metrics into the regulatory framework [4] - These policy measures are expected to strengthen the alignment of fund company income with investor interests, ultimately fostering trust and attracting more long-term capital into the market [4]