Group 1 - The core viewpoint of the news is the release of the "Action Plan for Promoting High-Quality Development of Public Funds" by the China Securities Regulatory Commission, which aims to reform the public fund industry and enhance its quality of development [1] - The plan proposes policies to optimize fund operation models, improve industry assessment systems, increase the scale and proportion of equity investments, accelerate the establishment of top-tier investment institutions, and maintain risk control [1][2] - The implementation of the plan is expected to stabilize the capital market, enhance resource allocation, better serve the real economy, and improve market transparency and international attractiveness [2] Group 2 - The plan introduces a floating management fee mechanism linked to fund performance and reforms the performance assessment system for fund companies, emphasizing long-term investment returns [3] - Fund managers will be assessed primarily based on product performance, with at least 80% weight on investment returns over a long-term period [3] - This fee reform aims to balance interests between fund managers and investors, enhancing investor trust in public funds and promoting sustainable industry development [3] Group 3 - The plan encourages fund companies to innovate and optimize product structures, leading to the introduction of more market-demand-driven products, such as low-volatility and asset allocation products [2][4] - The focus on long-term performance and risk management is expected to reshape the competitive landscape of the industry, pushing fund companies to enhance their research and service quality [2][4] - The plan also aims to attract long-term capital into the market, such as pension and insurance funds, to stabilize fund sizes and promote sustainable industry growth [2] Group 4 - From the investor's perspective, the plan is expected to lower investment costs and enhance returns through reduced management fees and sales expenses [5] - Strengthened investor protection measures, such as improved suitability management and enhanced information disclosure, will help investors better assess product risk and return characteristics [5] - The diversified product offerings will cater to different risk preferences and investment goals, fostering rational investment habits among individual investors [5]