Investment Association: Fund managers whose fund performance has lagged behind the benchmark by more than 10 percentage points in the past 3 years, and whose fund profit rate is negative, should have their performance-based salary reduced by no less than 30%.

The China Securities Investment Fund Association has revised the "Guidelines for Performance Evaluation and Compensation Management of Fund Management Companies in 2022" to form the "Guidelines for Performance Evaluation Management of Fund Management Companies". The guidelines have been reviewed and approved by the association's board of directors and are now being published. The guidelines point out that fund management companies should establish a tiered performance compensation adjustment mechanism based on the performance benchmark comparison of actively managed equity funds by fund managers in the past three years, as well as the different situations of fund profit margins. If the performance of fund products in the past three years is lower than the performance benchmark by more than ten percentage points and the fund profit margin is negative, the fund manager's performance compensation should decrease significantly compared to the previous year, with a decrease of no less than thirty percent. If the performance is lower than the performance benchmark by more than ten percentage points but the fund profit margin is positive, the fund manager's performance compensation should decrease. If the performance significantly exceeds the performance benchmark and the fund profit margin is positive, the fund manager's performance compensation can be reasonably and moderately increased.