公募新规新动态！两类“基准库”出炉

Core Viewpoint - The establishment of a performance benchmark element library for public funds aims to standardize the selection and use of indices, enhancing comparability among fund products and encouraging innovation in fund management [3][4][11]. Group 1: Benchmark Library Structure - The benchmark library is divided into two categories: Category One and Category Two, with a total of 141 indices covering mainstream investment targets in A-shares and Hong Kong stocks [3][4]. - Category One includes 69 core indices that are highly representative and widely recognized, while Category Two consists of 72 indices that focus on innovation and differentiation [3][4]. - The library will undergo quarterly evaluations for the entry and exit of benchmark elements, with semi-annual assessments for adjustments between the two categories [11][12]. Group 2: Inclusion Criteria for Indices - Category Two indices must meet several criteria, including a maximum weight of 20% for any single constituent in broad-based indices and a minimum of 30 constituents for non-broad-based indices [7][8]. - Category One indices must meet Category Two standards and have a minimum average free float market capitalization of 10,000 billion yuan over the past year [7][8]. - The selection of broad-based indices is based on representativeness, investability, and usage by at least 10 actively managed funds [8][9]. Group 3: Dynamic Adjustment Mechanism - The benchmark library will be dynamically adjusted based on evaluations by an expert group composed of representatives from various industry institutions [11][12]. - Indices that no longer meet the standards for Category One may be moved to Category Two, while those meeting Category One standards can be promoted from Category Two [11][12]. - The expert group will also remove indices that are no longer published or do not meet the basic standards for inclusion [12].