业绩太差降薪至少30%，打破基金经理旱涝保收铁饭碗

Core Viewpoint - The China Securities Investment Fund Industry Association has issued a draft guideline for performance assessment of fund management companies, emphasizing a strong linkage between performance and compensation, investor interest alignment, and accountability measures [1][2][3][4] Group 1: Performance and Compensation - Fund managers with poor performance over the past three years, resulting in significant investor losses, will see their performance compensation reduced by at least 30% [1] - Compensation increases for fund managers are contingent upon significantly outperforming performance benchmarks and achieving positive fund profit margins; failure to meet either criterion will result in salary reductions or no raises [2] - A minimum of 80% of long-term performance indicators must be based on three-year metrics, ensuring a focus on sustained performance [1] Group 2: Investor Interest Alignment - Fund company executives, key department heads, and fund managers are required to invest a certain percentage of their performance compensation into the funds they manage, with a minimum holding period of one year; fund managers must invest at least 40% of their annual performance compensation [2] - The guideline aims to bind the interests of fund managers with those of investors, reducing the likelihood of managers taking excessive risks with client funds [2] Group 3: Accountability Measures - Fund companies can hold personnel accountable for negligence or violations, including reducing or halting compensation and requiring the return of a portion of performance pay; this accountability extends to former employees [3] - The guideline mandates that sales executives and core business personnel have at least 50% of their performance evaluation based on investor profit and loss, addressing the industry's historical focus on sales volume over client retention [3] Group 4: Industry Reform and Investor Trust - The guideline is part of broader reforms in the public fund industry aimed at enhancing investor satisfaction, which has been lacking due to poor fund performance and frequent trading behaviors by investors [3] - The industry is moving towards a consensus on prioritizing investor interests, establishing a serious contract that fosters long-term trust between investors and fund managers, ultimately leading to mutual financial success [4]