Core Viewpoint - Multiple fund companies have initiated a review of performance benchmarks for existing funds in response to new regulatory guidelines aimed at enhancing the quality of public funds and protecting investor rights [1][2]. Group 1: Regulatory Changes - The new guidelines require fund companies to submit a plan for revising performance benchmarks for existing products by December 15 [2]. - The review will cover all existing funds except index funds and public REITs, categorizing active equity funds into full market funds, thematic funds, and broad thematic funds [2]. Group 2: Benchmark Adjustment Criteria - Fund companies must analyze which funds require benchmark adjustments based on their actual holdings and provide thorough justification for any changes [2]. - Specific indicators to be reported include investment strategy descriptions, fund size as of Q3, average positions over the past two or three years, and various performance metrics [2][3]. Group 3: Reasons for Adjustments - Reasons for adjusting benchmarks include mismatches between existing benchmarks and actual investment styles, asset allocation, and investment strategies [3]. - If a benchmark change results in a coverage rate drop of over 20 percentage points or an increase in excess returns of over 10 percentage points, detailed explanations must be provided [3]. Group 4: Industry Response - Fund companies are currently working intensively to meet the upcoming submission deadline, with many departments involved in the process [4]. - Adjustments are seen as necessary to align benchmarks with actual investment strategies, with some funds needing to increase equity index proportions based on current holdings [5]. Group 5: Long-term Implications - The implementation of these guidelines is expected to fundamentally transform the performance assessment mechanisms within the public fund industry, shifting focus from short-term relative performance to long-term excess return stability [6]. - Fund companies will need to be more cautious in selecting benchmarks to ensure alignment with investment themes and risk-return characteristics, with strict procedures for any future changes [6].

据中国基金报记者了解，近日，包括北上广深在内的多家基金公司接到通知，需要对照《公 开募集证券投资基金业绩比较基准指引（征求意见稿）》，提交存量产品业绩比较基准修订 计划摸排统计方案，提交时间截至 12 月 15 日。 " 业绩基准修订涉及很多指标的计算和论证，公司旗下投资部、产品部、运营部、风险部都在 为这事忙碌。 " 一位基金公司人士称，为了保证方案如期提交，预计上述部门相关负责人本 周每天都得加班。 存量基金产品需提交 业绩比较基准摸排统计 为落实《推动公募基金高质量发展行动方案》工作部署，强化业绩比较基准约束，保护投资 者合法权益，据中国基金报记者了解，近期，多家基金公司已经接到通知，启动存量产品业 绩比较基准修订计划摸排统计工作，相关方案需要在 12 月 15 日提交。 【导读】多家基金公司启动存量基金业绩比较基准摸排统计工作 中国基金报记者 陆慧婧 方丽 各家基金公司需要梳理统计除了指数基金和公募 REITs 之外的存量基金业绩比较基准情况， 其中，主动权益基金分为全市场基金、主题型基金、泛主题型基金三种类型。分类之后，基 金公司再根据目前实际持仓情况，分析哪些基金需要调整业绩比较基准，哪些基金不需 ...