Core Viewpoint - The China Securities Regulatory Commission (CSRC) has released an action plan to promote the high-quality development of public funds, emphasizing the importance of performance benchmarks for funds [1][7]. Group 1: Changes in Performance Benchmarks - A significant increase in the number of funds changing their performance benchmarks has been observed this year, with 82 funds making changes compared to only 37 in the same period last year [3]. - Several North Exchange theme funds have updated their performance benchmarks to align with relevant indices, although five companies have yet to make these necessary adjustments [3][6]. - The Tianhong Qingxiang Fund and Zheshang Huijin Quantitative Fund have both adjusted their performance benchmarks to better reflect their investment strategies, moving away from indices that do not accurately represent their risk-return profiles [4][5]. Group 2: Importance of Performance Benchmarks - Performance benchmarks are crucial for evaluating fund performance, yet many funds have benchmarks that do not serve their intended purpose, leading to a lack of accountability for fund managers [6][9]. - The CSRC's action plan aims to enforce stricter guidelines for setting and modifying performance benchmarks, linking them to fund company performance assessments and manager compensation [7][10]. - The current benchmarks often reflect a simplistic approach, with a high concentration of funds using major indices like the CSI 300, which may not accurately represent the diverse market landscape [9][11]. Group 3: Future Implications - The action plan is expected to lead to more refined management of performance benchmarks, encouraging fund companies to reassess their benchmarks and align them more closely with their investment strategies [8][10]. - As the industry evolves, there is a push for more sophisticated benchmark selection, including the potential use of composite indices instead of relying solely on broad indices [11].