监管重磅出手！基金经理业绩不佳降薪30%，绩效40%强制跟投

Core Points - The regulatory authority has issued the "Guidelines for Performance Assessment Management of Fund Management Companies (Draft for Comments)", focusing on long-term investment performance and establishing a performance assessment system centered on fund investment returns [1] - The new regulations require that the total compensation changes for companies must be linked to fund investment returns and company performance, with performance indicators accounting for no less than 80% of the assessment for senior executives and fund managers [1] Group 1: Compensation Mechanism - The new regulations detail the compensation adjustment mechanism for active equity fund managers, requiring fund management companies to establish a tiered mechanism based on the comparison of performance benchmarks over the past three years and fund profitability [3] - If a fund manager's product performance over the past three years is more than 10 percentage points below the performance benchmark and the fund's profitability is negative, their performance compensation must decrease significantly from the previous year, with a reduction of no less than 30% [3] - Conversely, if performance significantly exceeds the benchmark and profitability is positive, performance compensation may be reasonably increased [3] Group 2: Long-term Incentive Mechanism - The guidelines further clarify the long-term incentive and restraint mechanisms, requiring senior executives, heads of key business departments, and fund managers to use a certain percentage of their compensation to purchase the company's own or their managed fund products [3] - Senior executives and heads of key business departments must invest at least 30% of their total performance compensation in public funds managed by the company, with at least 60% of that in equity funds [3] - Fund managers face stricter requirements, needing to invest at least 40% of their total performance compensation in the public funds they manage [3] Group 3: Assessment Indicators - The assessment indicators reflect a differentiated and long-term orientation, with the weight of long-term investment return indicators in overall quantitative assessments being no less than 80% for indicators over three years [4] - For senior executives responsible for sales and core sales personnel, the assessment weight for investor profit and loss indicators should be no less than 50% [4] - For senior management assessments, the weight of fund investment return indicators should be no less than 50%, while the weight for performance benchmark comparison indicators for active equity fund managers should not be less than 30% [4]