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682位基金经理“三年大考”不达标,公募基金业绩考核新方案还在“等细则”
Hua Xia Shi Bao· 2025-05-20 11:04
在此背景下,基金经理仅靠规模就能"旱涝保收"成为历史。《华夏时报》记者采访多家公募基金后发 现,目前多数公募基金还没有出台相对应的考核制度。而尚未出台相关制度的原因有二,一是"等细 则",二是"等头部公司先落地方案"。 基金行业人才梯队分化 华夏时报(www.chinatimes.net.cn)记者 张玫 帅可聪 北京报道 国内独立基金评价机构济安金信近日发布的统计数据显示,在全市场满足三年任职期的2005位基金经理 中,近三年业绩比较基准达标率仅为65.99%。 5月7日,《推动公募基金高质量发展行动方案》发布,旨在引导行业机构努力实现从"重规模"向"重回 报"转变,尽快出台公募基金业绩比较基准监管指引,全面建立以基金投资收益为核心的基金公司考核 体系。 一家总部位于上海陆家嘴的中型基金公司表示,尽管支持向监管倡导的"行动方案"方向改革,但金融行 业高度依赖人才竞争力,若贸然推进可能影响人力资源市场的吸引力,因此当前策略以等待细则明确为 主,同时观望头部公司的先行实践,以此作为自身调整的参考依据。 某总部位于深圳的大型公募基金则指出,其内部考核制度尚未更新,一方面因制度修改流程耗时较长, 另一方面业绩基准等 ...
银行股再度新高!现在都开始讲新的故事了
Sou Hu Cai Jing· 2025-05-14 09:16
Group 1 - The A-share market is experiencing a high opening followed by a decline, reflecting the muscle memory of investors who anticipate this pattern [1] - The banking index is showing strong performance and is close to reaching a historical high not seen since 2015 [2] - The performance of ETFs has already reached historical highs, indicating a positive trend regardless of interest rate changes or company earnings [4] Group 2 - Recent regulations aimed at promoting the high-quality development of public funds may lead fund managers to focus on the banking sector, which has consistently outperformed the broader market [5] - The banking sector has become a standout performer, with institutional investors, particularly insurance companies, actively accumulating shares [5] Group 3 - The latest financial data for China Merchants Bank shows a slight decline in total revenue and net profit compared to the previous year, with total revenue at 828.92 billion and net profit at 372.86 billion [7] - The bank's earnings per share is reported at 1.48, with a dividend yield of 4.47% [7] Group 4 - Recent shareholding changes indicate that Ping An Life has increased its stake in China Merchants Bank, reflecting confidence in the bank's future performance [8]
银行股又见新高!公募业绩基准考核,对银行股配置影响几何?
Hua Er Jie Jian Wen· 2025-05-14 06:14
公募新规:强化业绩比较基准的约束力 根据兴业证券研报,中国证监会于5月7日发布的《推动公募基金高质量发展行动方案》将改变公募基金业的运行机制。该 方案的核心是构建一个以基金投资收益为中心的考核体系,大幅提升业绩比较基准的约束力。 最关键的变化包括: 周三A股银行板块持续发力,刷新2015年7月中旬以来新高,农业银行、上海银行、光大银行盘中股价均创历史新高。大金 融板块冲高,拉动创业板指、沪指午后涨超1%。 | 代码 | 名称 | 涨幅 | 现价 | 主力净量 | | --- | --- | --- | --- | --- | | 002936 | 郑州银行 | +3.09% | 1.99 | -0.01 | | 002142 | 宁波银行 | +2.87% | 26.20 | 0.05 | | 601187 | 厦门银行 | +2.84% | 6.16 | -0.07 | | 600015 | 华夏银行 | +2.27% | 7.66 | 0.02 | | 600928 | 西安银行 | +2.17% | 3.76 | 0.12 | | 201228 | 瑞丰银行 | +1.89% | 5.38 | 0.10 ...
知名经济学家卸任基金经理,在管产品重仓地产股,任职1年半业绩跑输基准
Sou Hu Cai Jing· 2025-05-11 11:27
红星资本局5月11日消息,近日,中航基金一则人事变动公告引发关注。公告显示,邓海清自5月6日起因公司内部工作调整卸任中航混改精选的基金经理一 职,转而由方岑单独接管,邓海清本人则继续担任公司副总经理及首席投资官,但名下已无在管基金。 | 基金名称 | 中航混改精选混合型证券投资基金 | | --- | --- | | 基金简称 | 中航混改精选 | | 基金主代码 | 004936 | | 基金管理人名称 | 中航基金管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》 | | | 《基金管理公司投资管理人员管理指导意见》等 | | 基金经理变更类型 | 解聘基金经理 | | 共同管理本基金的其他基金经理姓名 | 方岑 | | 离任基金经理姓名 | 邓海清 | 5月11日,红星资本局给邓海清留言询问此事,截至发稿未获回应。 资料显示,邓海清,复旦大学金融学博士、中国人民银行金融研究所博士后。其在金融领域履历丰富,曾在国金证券、宏源证券(后并入申万宏源)、中信 证券等知名机构任职。2020年7月至12月兼任中航基金独立董事,2020年12月加入中航基金担任首席投资官,2021年12月15 ...
公募重磅改革:超六成主动权益基金经理收入将下降
Zhong Guo Jing Ying Bao· 2025-05-09 18:54
Core Viewpoint - The China Securities Regulatory Commission (CSRC) has released an action plan to promote the high-quality development of public funds, shifting the focus from scale to returns in fund assessments [1] Group 1: Action Plan Overview - The action plan outlines five key areas for reform, emphasizing investor protection and standardized operational requirements for various institutions in the public fund industry [1] - The introduction of a floating management fee mechanism linked to fund performance is highlighted as a new pillar for high-quality development in the fund industry [1] Group 2: Management Fee Structure - The regulatory aim is to transition from a fixed fee model to a performance-linked floating fee model, enhancing the alignment of interests between fund managers and investors [2][3] - New active management equity funds will implement a floating management fee based on performance benchmarks, with fees adjusted according to the fund's performance during the holding period [2][3] Group 3: Performance Assessment - The action plan mandates that fund companies establish a performance assessment system centered on investment returns, with a focus on both fund performance and investor profitability [5][6] - Fund managers will face increased pressure to enhance their investment management capabilities, as the new assessment mechanism emphasizes long-term performance over short-term gains [7] Group 4: Dual Assessment Mechanism - The action plan introduces a dual assessment mechanism, incorporating both excess return rates and profit rates into the evaluation of fund performance [8] - Fund manager compensation will be closely tied to long-term performance, with penalties for underperformance and rewards for exceeding benchmarks [9] Group 5: Governance and Accountability - The plan strengthens the requirements for fund companies, executives, and key personnel regarding mandatory co-investment ratios and lock-up periods [10] - A deferred payment system for performance-based compensation is to be implemented, ensuring accountability for fund managers and executives [10]
公募基金《行动方案》,对基金经理的考核,还缺少什么?
Sou Hu Cai Jing· 2025-05-09 00:01
前天,证监会发布了《推动公募基金高质量发展行动方案》,一度引发了市场的热议,这次的行动方案最大的亮点是,要改变过去行 业旱涝保收的现象,对于符合持有期的投资者,要根据持有期间产品业绩适用差异化费率,并且在接下来的一年时间里,要引导规模 靠前的行业头部机构发行此类基金的数量不低于主动权益基金发行数量的60%。 还有,就是对基金业绩的考核三年以上的中长期收益考核的权重不低于80%。 另外就是对三年以上产品的业绩低于比较基准超过10个百分点的基金经理,要求其绩效薪酬应当明显下降,对三年以上产品业绩显著 超过业绩比较基准的基金经理,可以合理适度提高其绩效薪酬。 国内公募基金当前的运行更多的还是体现出看基金经理的个人主义,团队的精神似乎并不是太明显,这样会在人才方面带来缺憾,因 为但凡是创造出业绩的基金经理,最终都会离职,这不仅仅对基金公司是重大损失,对基民的投资收益提高,也是遗憾。 所以这次的行动方案中,有个基准业绩考核,提到了对三年以上产品业绩显著超过业绩比较基准的基金经理可以合理适度提高其绩效 薪酬,实际上从这个口吻上来说,感觉对业绩比较好的基金经理有点鼓励的意思,而从激励的力度看,似乎并不明显,这恰恰是制度 的 ...