China plans 50% pay cuts for fund managers missing performance targets

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China plans 50% pay cuts for fund managers missing performance targets - Business Standard

Quick Summary:

The sweeping measures come as policymakers seek to attract more long-term capital into the nation’s stock market amid slowing economic growth and an escalating trade war with the US.

The draft rules apply to all fund managers in the country, including joint ventures with foreign investors.

Active equity funds averaged a 4 per cent return last year, compared with a 15 per cent gain in the CSI 300 Index, according to a CSC Financial Co.report.