独家| 严格规范销售行为 公募基金销售行为规范征求意见

Core Viewpoint - The China Securities Investment Fund Industry Association has drafted the "Regulations on the Sales Behavior of Publicly Raised Securities Investment Funds (Draft for Comments)" to standardize fund sales practices and protect investors' rights [1][4]. Group 1: Fund Sales Behavior Regulations - The draft specifies clear requirements for general promotional activities, live streaming promotions, disclosure of sales information and fees, and performance evaluation of fund sales [1][4]. - Fund managers and sales institutions must objectively and comprehensively present fund performance, clearly indicating that past performance does not guarantee future returns, and must not promise future returns in any form [1][4]. Group 2: Performance Display Requirements - Fund performance must be displayed for a minimum of six months, and annualized performance cannot be shown for periods shorter than one year unless otherwise specified by law [2][5]. - Performance rankings must use publicly available data from fund evaluation agencies for periods of three years or more, including the agency's name, evaluation date, and the type and number of similar funds [2][5]. - Risk indicators related to fund performance must be displayed alongside performance data, and both must cover the same time period [2][5]. Group 3: Promotional Language and Live Streaming - Fund managers and sales institutions must choose promotional language carefully, avoiding misleading or exaggerated terms, and cannot promote fund size or growth [6]. - Live streaming personnel must possess relevant qualifications and be employed by fund management or sales institutions; unqualified personnel are prohibited from discussing fund-related content [6]. Group 4: Sales Performance Evaluation - The performance evaluation of fund sales must include metrics on sales activities and investor profit and loss situations, with a focus on long-term investor returns and the proportion of profitable investors [3][6]. - The evaluation metrics for sales activities should cover a minimum period of one year, while investor profit and loss metrics should focus on a three-year or longer timeframe [3][6].