Xin Lang Cai Jing·2025-12-26 07:20Core Viewpoint - The recent draft of the "Guidelines for Performance Assessment Management of Fund Management Companies" has sparked significant discussion in the industry, indicating a shift towards a performance-driven era where nearly a thousand fund managers may face salary reductions due to stricter performance evaluation criteria [1][5]. Group 1: Fund Distribution and Performance - The guidelines stipulate that fund companies must prudently determine dividend frequency and ratio based on the long-term performance of fund products and investor gains or losses, particularly reducing dividends for funds with poor performance over the past three years [1][5]. - In 2024, Huaxia Fund reported a total revenue of 8.03 billion yuan and a net profit of 2.16 billion yuan, with a dividend payout of 1.4 billion yuan, resulting in a dividend rate of 64.87%, the highest in nearly a decade [1][3][6]. - Over the past ten years (2015-2024), Huaxia Fund has accumulated total revenue of 56.31 billion yuan, net profit of 16.82 billion yuan, and dividends paid to shareholders totaling 7.10 billion yuan [2][6]. Group 2: Fund Performance Metrics - From 2022 to 2024, out of 288 fund products, 182 experienced losses, representing 63% of the total, while 125 underperformed against benchmarks, accounting for 43% [3][7]. - For the period from December 1, 2022, to November 30, 2025, among 336 fund products, 61 reported losses, which is 18% of the total, and 112 underperformed against benchmarks, making up 33% [4][8]. - The increase in dividend rates from 30% to 64.87% over the last four years raises concerns about the impact on capital accumulation and risk management for fund companies [3][8].