Nearly 300 medium-risk funds plummeted over 30% in a single month, highlighting the unresolved issue of lagging fund risk ratings.

In July, as the technology sector experienced a sharp correction, over a third of the 790 actively managed equity funds that fell more than 30% maintained a risk level of R3, indicating a medium risk. The short-term deep pullback has not been reflected in the adjustments of risk ratings. The risk ratings of fund products are severely lagging behind, revealing a significant disconnection from the actual volatility in the industry. A public fund industry insider, when interviewed by the Securities Times reporter, stated that the risk levels of related funds failed to timely disclose the risk of net asset value decline, showing clear delays. Although the risk rating classification system for funds has been in place for many years, its actual implementation remains unsatisfactory: the rating standards and frequency vary among institutions, leading to the phenomenon of "same fund, different ratings;" furthermore, the lack of proactive adjustment motivation among institutions means that ratings often become a mere compliance formality. To truly enhance the effectiveness of risk ratings, it is necessary to address real-world obstacles and clarify conflicting interests.