2025年以来，基金公司着手检视并调整产品业绩比较基准与投资策略的一致性 告别“基金盲盒” 业绩比较基准不再“随便写写”

Core Insights - A significant transformation involving 37 trillion yuan public funds is reshaping the investment landscape, emphasizing the importance of performance benchmarks for mutual funds [1][2] - The regulatory push for high-quality development in the mutual fund industry is leading to a systematic review and adjustment of performance benchmarks to align with actual investment strategies [2][3] Group 1: Regulatory Changes - The China Securities Regulatory Commission (CSRC) has mandated that performance benchmarks must accurately reflect the investment style and risk characteristics of funds, moving away from being mere formalities [2][3] - As of December 4, 220 funds have changed their performance benchmarks in 2023, marking a 73.23% increase compared to the previous year, with a notable acceleration in changes since May [2] Group 2: Industry Response - Fund companies are actively responding to regulatory requirements by recalibrating their performance benchmarks to better reflect their actual investment strategies, enhancing industry professionalism and credibility [3][4] - The adjustments are seen as a move towards eliminating the "blind box" phenomenon in funds, where the actual investment did not align with the stated themes [3][4] Group 3: Impact on Fund Management - The refined performance benchmarks are expected to guide fund managers towards more focused investment strategies, enhancing the stability of fund styles and promoting in-depth research in specific sectors [5][6] - The new benchmarks will help fund managers align their investment decisions with national industrial policies, directing funds towards key economic sectors such as technology and renewable energy [5][6] Group 4: Investor Benefits - Clear performance benchmarks will enable investors to better understand the risk-return profile of funds, fostering rational expectations and trust in fund companies and managers [8] - The transformation is anticipated to attract long-term capital from institutional investors, enhancing the vitality of the capital market [8]