Core Viewpoint - The article discusses the newly proposed "Guidelines for the Suitability Management of Investors in Publicly Offered Securities Investment Funds," which aims to enhance investor protection and ensure appropriate matching of investment products to investors' risk profiles [1][3]. Group 1: Investor Suitability Management - The guidelines emphasize the obligation of fund managers and sales institutions to assess investors' risk tolerance and match them with suitable fund products based on their investment goals and risk preferences [3][4]. - Fund managers must provide complete information regarding the risk classification of funds to sales institutions, and if such information is incomplete, sales institutions are required to refuse sales [4]. - The guidelines stipulate that the frequency of risk assessments for ordinary investors should be controlled, with a maximum of two assessments per day and eight assessments within twelve months [4][6]. Group 2: Risk Assessment and Fund Classification - The guidelines require that the risk classification of funds incorporates factors such as stock position, historical volatility of fund net value, and maximum drawdown, using both quantitative and qualitative analyses [2][8]. - Fund managers and sales institutions must establish a mechanism for regular review and dynamic adjustment of fund risk classifications, with at least one review conducted annually [9]. - The guidelines specify that the risk classification results used by sales institutions must not be lower than those determined by fund managers [6][8]. Group 3: Special Considerations for Older Investors - When selling high-risk funds (R4 level and above) to investors aged 65 and above, fund managers and sales institutions must adhere to special obligations, including more cautious sales processes and enhanced risk disclosures [6][7]. Group 4: Communication and Transparency - Fund managers and sales institutions are required to improve communication with investors, ensuring they have a comprehensive understanding of fund characteristics and risks [3][7]. - In cases of changes in risk tolerance or fund risk classification, timely notifications must be sent to investors through various communication channels [6][9].