基金公司收入报酬，应由基民回报说了算

Core Viewpoint - The article discusses the recent regulatory changes in the public fund industry aimed at improving the alignment of fund managers' compensation with investor returns, addressing long-standing issues of fund performance and fee structures [3][4][5]. Group 1: Regulatory Changes - The China Securities Regulatory Commission (CSRC) has issued a plan to enhance the quality of public fund development, emphasizing the establishment of a mechanism that links fund company income and investor returns [3]. - A draft guideline has been released for public consultation, focusing on strengthening the constraints of performance benchmarks and requiring fund managers to implement a comprehensive control mechanism for benchmark selection, disclosure, monitoring, correction, and accountability [3][6]. Group 2: Industry Issues - The article highlights two major issues in the fund industry: the drift in fund styles leading to poor investor experiences and the disparity between fund company profits and investor returns, where fund companies continue to earn regardless of market performance [4][5]. - Investors have expressed dissatisfaction with the current fee structures and the perceived lack of accountability among fund managers, particularly during market downturns when fund performance suffers [5][6]. Group 3: Expected Outcomes - The proposed guidelines aim to create a more reasonable income and compensation system that aligns with market expectations and investor interests, potentially leading to a more sustainable fund industry [5][6]. - Future regulatory measures will include revising compensation assessment rules for fund managers, incorporating performance benchmarks into evaluation systems, and establishing floating management fees linked to performance [6].