7亿基民迎来转机，基金经理薪酬大改，这招直戳行业痛点

Core Viewpoint - The public fund industry in China is undergoing significant changes aimed at aligning the interests of fund managers with those of investors, particularly in response to poor performance and high salaries for fund managers despite losses for investors [2][18]. Summary by Sections Fund Manager Compensation Changes - The China Securities Investment Fund Industry Association has proposed a guideline that mandates a minimum 30% reduction in performance pay for fund managers who underperform [2][9]. - Fund managers who have underperformed by more than 10 percentage points compared to benchmarks and incurred losses will face this pay cut as a strict rule [9]. Performance Metrics and Accountability - The new regulations emphasize long-term performance, requiring that at least 80% of performance metrics be based on three-year results, discouraging short-term speculative strategies [12][14]. - Fund managers will be required to invest at least 40% of their performance pay into the funds they manage, ensuring that their financial interests are directly tied to the performance of those funds [15]. Industry Impact and Investor Sentiment - The proposed reforms are seen as a positive development for ordinary investors, as fund managers will now have a direct financial stake in their funds' performance, potentially leading to more responsible management practices [18]. - While the reforms are beneficial, there is caution regarding their implementation, as the guidelines are still in the draft stage and may be subject to manipulation by some fund companies [20][22].