关于印发《推动公募基金高质量发展行动方案》的通知

Core Viewpoint - The article outlines the "Action Plan for Promoting High-Quality Development of Public Funds" by the China Securities Regulatory Commission (CSRC), aiming to address existing issues in the public fund industry and enhance its contribution to the economy and investor satisfaction [4][5]. Group 1: Overall Requirements - The plan is guided by Xi Jinping's thoughts and aims to implement decisions from various key meetings, emphasizing strong regulation, risk prevention, and high-quality development [5]. - It stresses the importance of aligning fund company operations with investor interests and transitioning from a focus on scale to investor returns [5]. Group 2: Optimizing Fund Operation Models - A floating management fee mechanism linked to fund performance will be established, encouraging fund companies to align fees with investor returns [6][7]. - Transparency will be enhanced through improved disclosure templates for actively managed equity funds, showcasing performance, fees, and investor outcomes [8]. Group 3: Improving Industry Assessment and Evaluation - Fund companies will be required to adopt a performance-based assessment system, prioritizing investment returns over size and profit metrics [9][10]. - The evaluation system will incorporate long-term performance metrics, with a significant weight on three-year returns [9][10]. Group 4: Enhancing Equity Investment Scale - The plan aims to increase the proportion of equity investments in public funds, with regulatory support for equity fund development [11]. - Innovations in equity fund products will be encouraged, including performance-linked fee structures and the development of index funds [11]. Group 5: Promoting High-Quality Development - Governance structures of fund companies will be improved, emphasizing the role of independent directors and preventing undue influence from major shareholders [14]. - The plan supports the enhancement of investment research capabilities and the adoption of new technologies in fund management [14][15]. Group 6: Risk Management and Compliance - A multi-layered liquidity risk prevention mechanism will be established, along with guidelines for fund participation in swap transactions [18][19]. - The plan emphasizes the need for strict compliance and regulatory enforcement to enhance the industry's reputation and operational integrity [20][21].