剑指基金“风格漂移” 主题投资规范性文件来了

Core Viewpoint - The rapid rotation of sectors has led to increased attention on thematic funds, but the "style drift" phenomenon has emerged as fund managers shift allocations to popular sectors under performance and scale pressure [1][2]. Group 1: Thematic Fund Management Guidelines - The Asset Management Association of China has drafted the "Guidelines for Thematic Investment Style Management of Publicly Raised Securities Investment Funds" to standardize thematic fund management [2][3]. - The guidelines require that the names of thematic funds clearly indicate their investment direction and align with the investment direction specified in the fund contract [2][3]. Group 2: Style Library Establishment - Thematic funds are required to establish a "style library" that includes securities meeting specific investment directions [3][4]. - The guidelines specify that if the investment direction is based on market capitalization, specific thresholds must be set for inclusion in the style library [3][4]. Group 3: Monitoring and Compliance - Fund managers must establish approval procedures for the inclusion and exclusion of securities in the style library and ensure compliance with the fund contract [5][6]. - Compliance and risk control personnel are tasked with reviewing the securities in the style library and ensuring they meet legal and contractual requirements [6][7]. Group 4: Responsibilities of Fund Custodians - Fund custodians are required to implement a supervision mechanism for thematic funds and review the style library to ensure compliance with the fund contract [8][9]. - Custodians must verify the securities in the style library within five trading days of receipt and notify fund managers of any discrepancies [8][9].