Fund managers' salaries are now fully tied to their performance, putting an end to guaranteed earnings regardless of results. The new regulations implement a tiered adjustment system, determining salaries based on performance over the past three years: if a fund underperforms the benchmark by more than 10 percentage points and is losing money, the performance-based salary must be reduced by over 30% compared to the previous year; even if the fund is profitable but still trails the benchmark by more than 10 points, the salary must be cut; if the underperformance is less than 10 points but the fund is losing money, the salary cannot increase; only when performance significantly exceeds the benchmark and the fund is profitable can the salary reasonably rise.