In accordance with the principle of "smooth start, clear rules, steady progress and controllable risks", the Guidelines have made special arrangements for pension target funds in the following aspects:
First, products are required to strive for stability in investment strategy, introduce mature and widely used asset allocation strategies in overseas markets, and strive to obtain long-term stable returns.
The second is to link the proportion of equity assets invested by the fund with the closed operation period of the fund or the holding time of investors, so as to encourage investors to hold them for a long time and obtain long-term stable income.
Third, the fund is required to adopt a regular and open operation mode, or set a minimum holding period for investors to avoid short-term subscription and redemption affecting the investment strategy and performance of the fund.
Fourth, encourage pension target funds to set preferential rates to benefit the people and support investors to make long-term pension investments.
The fifth is to highlight the "combination of people", set the conditions for fund managers, and support excellent fund managers to manage pension target funds.
Sixth, the fund name is required to include the words "pension target", which reflects the investment strategy and is convenient for investors to identify and form a special product category.