On March 20th, as the market increasingly values whether fund performance can outperform performance benchmarks, reporters have found that the “New Wide Fund” index represented by the CSI A500 has replaced the traditional market value wide fund index and gradually appeared in the performance benchmarks of public products. In addition, in order to evaluate performance based on more scientific and reasonable performance comparison benchmarks, some industry themed funds have further refined and adjusted their performance comparison benchmarks, resulting in a more diverse index composition. Compared to traditional market capitalization broad-based indices, industry insiders believe that indices with a “Smart Beta” compilation approach as performance benchmarks have less impact on the excess returns of fund products due to style rotation, and the excess return curve may be smoother, which can intuitively reflect the fund manager’s stock selection ability. Moreover, such indices will promptly include representative emerging industry companies, and funds can adjust their investment portfolios according to the indices, grasp new market trends, and obtain excess returns. As the anchoring effect gradually becomes prominent, future performance benchmarks may be more refined and personalized when formulated, and may also pay more attention to dynamic adjustments. (China Securities Journal)
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