公募新规新动态！两类“基准库”出炉 “投资之锚”每半年动态调整

Core Viewpoint - The recent draft of the "Public Fund Performance Comparison Benchmark Element Library Operation Explanation" has been distributed, establishing a benchmark library divided into two categories, aimed at enhancing the comparability of fund performance and encouraging standardized selection and use of indices by fund managers [1][2]. Group 1: Benchmark Library Structure - The benchmark library consists of two categories: Category One includes 69 core indices, while Category Two includes 72 indices, totaling 141 indices that cover mainstream investment targets in A-shares and Hong Kong stocks [1][2]. - Category One focuses on highly representative and widely recognized indices, while Category Two aims to balance innovation and differentiation, including indices with significant usage frequency and market capitalization [1][2]. Group 2: Inclusion Criteria - The inclusion criteria for Category Two indices require that single constituent security weight does not exceed 20% for broad-based indices, and for non-broad-based indices, there must be at least 30 constituent securities with specific weight limitations [5]. - For Category One indices, they must meet the standards of Category Two and have an average daily free float market capitalization of at least 10,000 billion yuan over the past year, along with other relevant standards [5]. Group 3: Dynamic Adjustment Mechanism - The benchmark library is not static; it will undergo quarterly evaluations for the entry and exit of benchmark elements and semi-annual assessments for adjustments between the two categories [9]. - Elements in Category Two that meet the standards for Category One can be moved up, while those in Category One that no longer meet the criteria can be moved down, based on expert committee evaluations [9].