The China Securities Regulatory Commission (CSRC) is soliciting public comments on the "Guidelines on Performance Benchmarks for Publicly Offered Securities Investment Funds (Draft for Comment)." The guidelines consist of six chapters and twenty-one articles, with the main contents as follows: First, emphasizing the representative role of performance benchmarks, which should reflect the core elements and investment style stipulated in the fund contract and cannot be changed arbitrarily once selected. Second, strengthening the binding role of performance benchmarks, requiring fund managers to establish a full-process internal control mechanism, improve internal decision-making levels, and ensure the stability of investment styles. Third, leveraging the evaluation role of performance benchmarks, standardizing the use of performance benchmarks in areas such as compensation assessment, fund sales, and fund evaluation. Fourth, establishing multiple lines of defense, further strengthening information disclosure and fund custodian supervision on the basis of fund manager self-discipline.
