中国证监会就《公开募集证券投资基金业绩比较基准指引（征求意见稿）》公开征求意见

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has drafted the "Guidelines for the Performance Benchmark of Publicly Offered Securities Investment Funds (Draft for Comments)" to standardize the selection and use of performance benchmarks in the mutual fund industry, aiming to enhance internal controls and protect investors' rights [2][3]. Group 1: Guidelines Overview - The guidelines consist of six chapters and twenty-one articles, emphasizing the representation function of performance benchmarks, which should reflect the core elements and investment style agreed upon in the fund contract and should not be changed arbitrarily once selected [2]. - The guidelines strengthen the constraint function of performance benchmarks, requiring fund managers to establish a comprehensive internal control mechanism to ensure the stability of investment styles [2]. - The guidelines aim to standardize the use of performance benchmarks in salary assessments, fund sales, and fund evaluations, thereby enhancing their evaluative function [2]. - The guidelines propose a multi-layered defense system, enhancing information disclosure and supervision by fund custodians, in addition to self-restraint by fund managers [2]. Group 2: Industry Association's Role - The Asset Management Association of China has concurrently drafted the "Operational Details for the Performance Benchmark of Publicly Offered Securities Investment Funds (Draft for Comments)" to provide specific operational norms regarding the selection, disclosure, risk control, and compliance management of performance benchmarks [3]. - The CSRC invites public feedback on the guidelines, indicating that revisions will be made based on the comments received before final implementation [3].