业绩比较基准新规明日实施 公募基金行业紧锣密鼓“校准”投资之锚

Core Viewpoint - The implementation of the "Guidelines for Performance Comparison Benchmarks of Publicly Raised Securities Investment Funds" aims to enhance the constraints of performance comparison benchmarks, prompting a comprehensive adjustment of existing fund benchmarks across the industry [1][2]. Group 1: Regulatory Changes - The new guidelines require standardized selection and usage of performance comparison benchmarks, with a one-year transition period for existing products until February 28, 2027 [1][2]. - The guidelines address long-standing issues in the public fund industry, where benchmarks have often lacked specificity and systematization, leading to significant deviations in fund performance and "style drift" [2]. Group 2: Industry Response - Many public fund institutions have proactively initiated the evaluation and adjustment of their existing benchmarks, with some already submitting adjustment plans to regulatory authorities [2][3]. - Companies like Green Fund and Zhongyou Chuangye Fund have established dedicated teams to assess and propose adjustments to their benchmarks, indicating a serious commitment to compliance with the new guidelines [3][4]. Group 3: Communication with Regulators - The adjustment process has entered a critical phase of deep communication with regulatory bodies, with firms receiving feedback and guidance on their proposed plans [5]. - The core principle emphasized by regulators is to ensure that benchmarks reflect actual investment styles and risks, rather than merely enhancing performance metrics [5][6]. Group 4: Internal Governance and Industry Ecology - The new regulations are expected to reshape internal governance structures within fund management companies, enhancing the authority of risk control measures [8]. - Companies are working to balance the constraints of benchmarks with the flexibility needed for fund managers' investment strategies, aiming to create a robust internal mechanism that aligns with the new regulatory framework [8].