China’s CSRC performance-benchmark guidance for public funds, effective March 1, saw its first batch of adjustments implemented June 1. Twelve fund houses adjusted benchmarks for 195 existing funds across equity, hybrid, bond, FOF and QDII products. The guidance requires revised benchmarks to better match product mandates and actual holdings and sets a one-year transition during which firms should “adjust benchmarks as much as possible rather than rebalance portfolios.” Regulators say consumer a

China’s CSRC performance-benchmark guidance for public funds, effective March 1, saw its first batch of adjustments implemented June 1. Twelve fund houses adjusted benchmarks for 195 existing funds across equity, hybrid, bond, FOF and QDII products. The guidance requires revised benchmarks to better match product mandates and actual holdings and sets a one-year transition during which firms should “adjust benchmarks as much as possible rather than rebalance portfolios.” Regulators say consumer and healthcare theme funds do not need concentrated sell-offs of technology stocks; de-thematisation plus phased rebalancing should limit forced tech disposals, leaving tech-sector direction dependent on industry trends and earnings.