业绩不佳基金经理或将降薪30% 基金业重大改革来了

Core Viewpoint - The China Securities Investment Fund Industry Association has revised the "Guidelines for Performance Evaluation Management of Fund Management Companies (Draft for Comments)" to enhance the performance evaluation and compensation mechanisms for fund managers, aiming to better align their interests with those of investors [1]. Summary by Sections Performance Evaluation Mechanism - The guidelines consist of 7 chapters and 32 articles, focusing on establishing a performance evaluation system centered on fund investment returns, with at least 80% of the evaluation metrics based on long-term indicators over three years [2][5]. Compensation Management - Fund companies are required to implement a total compensation management mechanism and optimize internal compensation distribution structures. The deferred payment amount must be at least 40% for key personnel, including executives and core business staff [2][8]. Investor Interest Alignment - Fund managers and key personnel must increase their investment in their own funds by 10% from previous levels, with a minimum holding period of one year. This aims to strengthen the binding mechanism between their performance compensation and investor interests [6][7]. Performance Penalties - Fund managers with poor performance over the past three years, particularly those whose funds underperform by more than 10% against benchmarks, will face a minimum 30% reduction in performance compensation [4]. Accountability Mechanism - A strict accountability mechanism will be established to enhance the constraints on compensation management, applicable even to departing personnel. This includes potential salary withholding and recovery of performance bonuses in cases of negligence or misconduct [12][13]. Transition Period - Fund companies are given a transition period to comply with the new guidelines, with specific performance metrics needing to meet the new standards by 2026 [14]. Overall Impact - The guidelines are expected to systematically strengthen the linkage between fund personnel's compensation and performance, promoting the principle of prioritizing the interests of fund investors and fostering the sustainable development of the public fund industry [14].