China Securities Investment Fund Association releases "Guidelines for Managing Investment Styles of Publicly Offered Securities Investment Funds"

On June 12, the Securities and Futures Commission issued an announcement on the "Guidelines for Management of Investment Styles of Publicly Offered Securities Investment Fund Theme Investments". The guidelines state that the investment style of theme investment funds should adhere to the basic principles of portfolio management, diversified investment, and long-term investment. Fund managers should strengthen the management of the investment style of theme investment funds, continuously track and evaluate the stability of the investment style of theme investment funds, establish an internal management system for investment concentration, and enhance management efforts for situations where the investment direction deviates significantly or the investment concentration is too high. This is to avoid concentrating fund investments in a single sub-industry or sector within the investment direction, and ensure the compliant operation of fund investment management. The guidelines will be implemented starting from December 1, 2026. For theme investment funds established before the implementation of the guidelines that do not comply with Article 6 of these guidelines, they should, in principle, complete the rectification within 12 months from the date of implementation by revising fund contracts, offering documents, and other means as required. This announcement is made based on the guidelines issued by the Chinese Securities Investment Fund Industry Association on June 12, 2026. Source: Official website of the Chinese Securities Investment Fund Industry Association, Translated by: Liu Jiayin.