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A 股制度的变革和外资持续流入，机构投资的思路逐渐成熟，择股标准日渐清晰，即行业景气度高、成长路径明确、或是具有稳定良好的业绩。公司的业绩增长才是推动股价持续上涨的核心因素。我们坚持“深度研究、价值投资”的理念，主要配置方向有消费、医药、新能源、科技和部分周期，采取“核心+卫星“配置模式，个股既有行业龙头，也有二线白马，力争通过分享优质公司从小到大、从优秀变卓越的过程，实现组合净值的稳健增长。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:04:30.409Z","mo":"2019年以来，市场呈现比较极致的结构性行情，龙头、白马、核心资产的表现非常亮眼。经过2年多的上涨，部分投资赛道已经比较拥挤。展望2021年，一方面我们所处的内外部宏观经济环境可能较为负责、政策可能更体现为“相机抉择”，投资过程中面临的不确定性可能更多；另一方面，在进行行业配置和个股选择时，可能需要更多逆向投资的思维，逆向投资的内核是均值回归，通过对一个公司的基本面进行比较深入的研究分析，在估值洼地筛选标的胜率可能更大。我们认为今年市场可能出现宽幅震荡，需要关注两大风险点：一是美国国债利率上行；二是国内的信用收缩。信用下行周期，更需要关注市场风格的切换，从提升估值到重视盈利和行业景气度的关注。所以，后期我们在选股时，会关注几方面因素：行业景气度、细分行业自身所处的产业生命周期，估值因素，绝对和相对股价位置等，希望追求最佳风险收益比，提升选股胜率。","fund":{"_id":3000000001339,"stockCode":"001339","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":996357000,"market":"a","tickerId":1339,"custody":"兴业银行股份有限公司","name":"兴银鼎新灵活配置混合型证券投资基金","shortName":"兴银鼎新灵活配置(001339)","fundSecondLevel":"hybrid","__csrcFundId":3969,"fundStatus":"normal","lastUpdated":"2026-04-30T17:57:25.584Z","masterFundFlag":1,"inceptionDate":"2015-05-24T16:00:00.000Z","fundCollectionId":4000050890000,"currency":"CNY","masterFundShortName":"兴银鼎新灵活配置","pinyin":"xydxlhpzhhxzqtzjj","managers":[{"stockCode":"db20809632","stockType":"fund_manager","exchange":"fm","tickerId":122403212530,"name":"林学晨"},{"stockCode":"j101019637","stockType":"fund_manager","exchange":"fm","tickerId":2612253390,"name":"张璐"},{"stockCode":"j101020781","stockType":"fund_manager","exchange":"fm","tickerId":1912263390,"name":"石亮"}]},"announcement":{"linkText":"兴银鼎新灵活配置混合型证券投资基金2020年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=556963","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec55e7fea5b3eb0445300","stockId":3000000001339,"sao":"三季度市场整体呈现大幅上涨态势，代表权重股的上证50和沪深300表现较为强势，单季度上涨10%左右，以创业版为代表的成长股在三季度表现相对较弱。目前上证指数在3300点附近，如我们之前的预期，二季度有望见到市场阶段性低点，现阶段市场量价配合较好，市场处于价值风格中，从中长期的维度来看，此次疫情被根本性控制住之前，未来较长一段时间会处在“低利率、低增长、低通胀、货币相对宽松”的大环境中，在这样的环境下，对于有核心竞争力、确定性需求、现金流稳健的优秀公司而言，可能会长期享受估值溢价。虽然海外疫情尚未得到完全控制，部分地区疫情出现反复，但在疫情应对更加精细化的背景下，全球经济将逐步修复。因此，可以明确的是，外需对于经济负面冲击最大的时候已经过去，中长期继续看好权益资产。本基金三季度适度提升个股集中度，继续以消费、科技、周期、新能源等板块配置为主。本基金将继续以精选个股为基础，选择细分行业龙头，重点关注一是顺周期板块，把握补库存、经济复苏主线，如机械设备、化工、建筑材料等；二是大金融板块，重点关注券商、金融科技、保险；三是自主可控的背景下科技板块值得中长期关注。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T13:04:30.406Z","fund":{"_id":3000000001339,"stockCode":"001339","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":996357000,"market":"a","tickerId":1339,"custody":"兴业银行股份有限公司","name":"兴银鼎新灵活配置混合型证券投资基金","shortName":"兴银鼎新灵活配置(001339)","fundSecondLevel":"hybrid","__csrcFundId":3969,"fundStatus":"normal","lastUpdated":"2026-04-30T17:57:25.584Z","masterFundFlag":1,"inceptionDate":"2015-05-24T16:00:00.000Z","fundCollectionId":4000050890000,"currency":"CNY","masterFundShortName":"兴银鼎新灵活配置","pinyin":"xydxlhpzhhxzqtzjj","managers":[{"stockCode":"db20809632","stockType":"fund_manager","exchange":"fm","tickerId":122403212530,"name":"林学晨"},{"stockCode":"j101019637","stockType":"fund_manager","exchange":"fm","tickerId":2612253390,"name":"张璐"},{"stockCode":"j101020781","stockType":"fund_manager","exchange":"fm","tickerId":1912263390,"name":"石亮"}]},"announcement":{"linkText":"兴银鼎新灵活配置混合型证券投资基金2020年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=488691","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec55e7fea5b3eb04452ff","stockId":3000000001339,"sao":"一季度市场整体震荡幅度加大，季初在成长股带动下创业板走势凌厉，2月在疫情和流动性等因素扰动下市场剧烈波动，3月份市场在海外疫情加剧资本市场剧烈震荡情况下大幅杀跌。本基金一季度适度提升个股集中度，继续以科技为主并适时参与了金融、医药、消费等板块机会。二季度市场整体呈现大幅上涨态势，其中代表成长板块的创业板表现尤其强势，单季度上涨30.75%。季初在海外疫情冲击下，导致市场大幅震荡后，市场边际回暖，并逐步修复悲观预期。虽然海外疫情尚未得到完全控制，部分地区疫情出现反复，外需仍存在不确定性，但在疫情应对更加精细化的背景下，回到此前经济大规模停滞的可能性相对不大。因此，可以明确的是，外需对于经济负面冲击最大的时候已经过去。本基金二季度适度提升个股集中度，继续以消费、科技、金融等板块配置为主。本基金将继续以精选个股为基础，选择细分行业龙头，重点关注新基建、强内需消费（医药、食品饮料、社会服务等）和有效投资的传统类基建等受益于政策支持的板块。","date":"2020-06-29T16:00:00.000Z","declarationDate":"2020-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:04:30.404Z","mo":"疫情对于宏观经济的影响边际减弱，虽然对经济短期造成影响，但不改长期经济企稳向好的大趋势。国内通胀形势预计继续温和上行，全年CPI维持在可控区间，M1、社融、汽车销量、工业增加值等先行指标企稳回升，我国经济大概率见底，权益市场估值处在历史中枢下方，相比海外有较大比较优势，外资流入大势所趋，十年期国债收益率处在历史低位，且在大类资产里权益市场性价比凸显。总体来说，我们继续看好中国权益市场的中长期投资机会。","fund":{"_id":3000000001339,"stockCode":"001339","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":996357000,"market":"a","tickerId":1339,"custody":"兴业银行股份有限公司","name":"兴银鼎新灵活配置混合型证券投资基金","shortName":"兴银鼎新灵活配置(001339)","fundSecondLevel":"hybrid","__csrcFundId":3969,"fundStatus":"normal","lastUpdated":"2026-04-30T17:57:25.584Z","masterFundFlag":1,"inceptionDate":"2015-05-24T16:00:00.000Z","fundCollectionId":40000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