超六成主动权益基金过去三年跑输业绩比较基准 多家公募加紧“内查”

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a draft guideline for performance assessment of fund management companies, emphasizing a tiered performance-based salary adjustment mechanism for active equity fund managers based on their performance against benchmarks over the past three years [1] Group 1: Performance Assessment Guidelines - Fund management companies are required to establish a tiered salary adjustment mechanism based on the performance of active equity fund managers compared to benchmarks over the past three years [1] - The draft guideline aims to enhance accountability and align fund managers' compensation with their performance outcomes [1] Group 2: Market Data and Implications - As of December 5, there are 8,546 active equity funds in the market, with 6,129 funds included in the performance assessment after excluding those established for less than three years [1] - Of the 6,129 funds, 3,708 (60.5%) have underperformed their benchmarks over the past three years, indicating a significant portion of the market may face compensation adjustments [1] - Specifically, 2,454 funds (40%) have underperformed by more than 10%, while 943 funds exceeded their benchmarks by less than 10% [1] - The industry is undergoing a transformation focused on performance benchmarks, with many fund companies reviewing their product performance and investment strategies [1]