证监会发布指引 规范公募基金业绩比较基准选用

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued the "Guidelines for Performance Benchmarking of Publicly Offered Securities Investment Funds," effective from March 1, 2026, aimed at enhancing the quality of public fund development and protecting investor rights [1][2]. Group 1: Key Aspects of the Guidelines - The guidelines emphasize the representational role of performance benchmarks, highlighting the seriousness and stability of their application, and stipulating that benchmarks must align with the core elements of the fund contract and investment style, with no arbitrary changes allowed once selected [1]. - The guidelines strengthen internal controls and management for fund managers, mandating that performance benchmarks be determined by company management and requiring the establishment of robust internal control mechanisms to ensure the stability of fund managers and investment styles [1]. - The guidelines enhance external constraints on performance benchmarks, clarifying the supervisory responsibilities of fund custodians and regulating the behavior of fund sales and evaluation institutions regarding the display and application of benchmarks, while also emphasizing the importance of investor education [1].