CSRC: Fund Managers Prohibited from Inducing Short-Term, Frequent Redemptions via Multiple Similar-Style Funds in Same Channel

36Kr reports that the CSRC today solicited public comments on the draft 'Measures for the Administration of Public Offering Securities Investment Funds.' The draft proposes that fund managers strengthen counter-cyclical portfolio management based on market capacity, liquidity, valuation levels, and their own investment capabilities. It also requires prudent design of investment operations. When developing multiple funds with similar investment styles, managers must justify their rationality and necessity, allocate sufficient resources, and ensure operations align with management capabilities, risk control, and market demand. Fund managers are prohibited from deploying multiple similar-style funds within the same sales channel to induce investors to make short-term, frequent subscriptions and redemptions.