Core Viewpoint - The newly released guidelines for public fund performance benchmarks aim to standardize the evaluation of fund performance, providing a structured framework for fund companies to select appropriate benchmarks and improve transparency in performance assessment [1][14]. Group 1: Benchmark Library Structure - The benchmark library consists of two categories: Category One and Category Two, with Category One including highly recognized indices and Category Two accommodating innovative and differentiated indices [2][5]. - Category One includes 69 indices, while Category Two comprises 72 indices, both categorized into broad-based indices, industry-themed indices, and strategy indices [6][7]. Group 2: Entry Standards for Indices - Category Two indices must meet specific criteria, such as a maximum weight of 20% for any single component in broad-based indices and a minimum of 30 components for non-broad-based indices [3]. - Category One indices require a minimum average free float market capitalization of 10,000 billion yuan over the past year, in addition to meeting Category Two standards [3]. Group 3: Performance Evaluation Metrics - Fund managers are encouraged to use various performance metrics, including information ratio, tracking error, and excess return, to monitor deviations from benchmarks [11][12]. - The calculation of benchmark returns should be based on daily returns and time-weighted principles, ensuring consistency and comparability with fund performance [13]. Group 4: Industry Impact and Future Directions - The standardization of performance benchmarks is expected to reshape the industry ecosystem, enhancing investor experience and promoting high-quality development in public funds [14][15]. - Suggestions for future improvements include the establishment of a benchmark database and educational initiatives to help investors understand the significance of performance benchmarks [15].