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9月下旬集中出台了一系列关于货币、地产、资本市场的相关政策，既包括降准降息、降低存量房贷利率等政策助力经济复苏，也包括创设两项货币政策工具支持资本市场稳定发展，一是证券、基金、保险公司互换便利，二是股票回购、增持再贷款。超预期的政策一举扭转了市场的悲观预期，权益市场大幅反弹。基金运作方面，延续上半年的运作思路，继续高仓位运行，在市场调整中优化持仓，往资产质量扎实，业绩确定性较强，成长空间较大的标的上做相对集中。配置上，仍然坚持以成长板块为主，以科技创新、新质生产力为主线，增配受益于美联储降息周期的板块，特别是创新药及其研发外包产业链，生命科学上游等领域。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:27.437Z","fund":{"_id":3000000001965,"stockCode":"001965","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-30T16:00:00.000Z","setUpScale":1069350000,"market":"a","tickerId":1965,"custody":"兴业银行股份有限公司","name":"圆信永丰兴源灵活配置混合型证券投资基金","shortName":"圆信永丰兴源(001965)","fundSecondLevel":"hybrid","__csrcFundId":1817,"fundStatus":"normal","lastUpdated":"2026-04-30T18:16:55.982Z","masterFundFlag":1,"inceptionDate":"2017-06-20T16:00:00.000Z","fundCollectionId":4000050950000,"currency":"CNY","masterFundShortName":"圆信永丰兴源","pinyin":"yxyfxylhpzhhxzqtzjj","managers":[{"stockCode":"8801466616","stockType":"fund_manager","exchange":"fm","tickerId":241925179650,"name":"肖世源"}]},"announcement":{"linkText":"圆信永丰兴源灵活配置混合型证券投资基金2024年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1176133","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec60f7fea5b3eb0451742","date":"2024-06-29T16:00:00.000Z","stockId":3000000001965,"sao":"2024年上半年，国内经济仍处于弱复苏中，金融数据和经济数据总体仍然偏弱，外部环境上，对中国产业链的打压压力犹存，美联储降息时点也较原来预期延后，因此市场整体呈现调整为主，万得全A上半年下跌8.01%。虽然北向资金上半年仍净流入385.7亿元，但是公募基金赎回构成上半年市场主要的资金流出项。结构上，市场存量特征明显，分化较大，高股息红利板块占优，成长风格承压；在强监管的政策基调下，大市值板块占优，小市值板块调整幅度较大。基金运作方面，上半年总体保持高仓位运行，在市场调整中优化持仓，往资产质量扎实，业绩确定性较强，成长空间较大的标的上做相对集中，坚守底线思维；上半年基金规模有所下降，持仓占比被动升高，使得短期的持仓集中度高于以往，预计等规模平稳之后，持仓集中度也会有所下降。配置上，仍然坚持以成长板块为主，科技创新为主线，维持创新药、创新医疗器械、高端医疗设备等领域的配置，增持了临床CRO、生命科学上游等可能在不远的未来能见到景气度拐点的细分领域。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:27.434Z","mo":"7月召开的中央政治局会议指出，当前国内有效需求不足的问题依然是掣肘经济复苏的关键，当前经济形势下需要政策继续发力，加强逆周期调节，实施好积极的财政政策和稳健的货币政策，将扩大国内需求作为下半年重点工作方向，坚定不移完成全年经济社会发展目标任务。展望下半年，财政政策方面，3000亿元特别国债助力设备更新和消费品以旧换新年内落地；全年1万亿元超长期国债着力支持国家重大战略实施；此外，上半年专项债发行慢于市场预期，也意味着下半年专项债发行速度有望加快；货币政策方面，上半年受到人民币汇率压力掣肘，而下半年美联储等海外经济体降息概率大幅提升，汇率压力缓解后，货币政策空间有望进一步打开。随着各项支持经济的政策持续落地，下半年宏观经济有望企稳回升。市场监管方面，随着各项强监管政策的落地，严把IPO入门关，设置更加严格的强制退市标准，完善高杠杆金融衍生品监管制度，注重提高上市公司质量，鼓励分红，把保护投资者利益放在更加重要的位置上，都是利好长期的制度建设，有利于资本市场的长期稳健发展。综上所述，我们有理由对2024年下半年的市场持相对积极乐观的态度。","fund":{"_id":3000000001965,"stockCode":"001965","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-30T16:00:00.000Z","setUpScale":1069350000,"market":"a","tickerId":1965,"custody":"兴业银行股份有限公司","name":"圆信永丰兴源灵活配置混合型证券投资基金","shortName":"圆信永丰兴源(001965)","fundSecondLevel":"hybrid","__csrcFundId":1817,"fundStatus":"normal","lastUpdated":"2026-04-30T18:16:55.982Z","masterFundFlag":1,"inceptionDate":"2017-06-20T16:00:00.000Z","fundCollectionId":4000050950000,"currency":"CNY","masterFundShortName":"圆信永丰兴源","pinyin":"yxyfxylhpzhhxzqtzjj","managers":[{"stockCode":"8801466616","stockType":"fund_manager","exchange":"fm","tickerId":241925179650,"name":"肖世源"}]},"announcement":{"linkText":"圆信永丰兴源灵活配置混合型证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1144259","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec60f7fea5b3eb0451741","date":"2024-03-30T16:00:00.000Z","stockId":3000000001965,"sao":"2024年一季度，国内经济仍处于弱复苏中，外部环境较为复杂，美联储降息时点也较原来预期延后。资金层面，仍然相对宽松，10年期国债利率继续下行，北向资金净流入超680亿元，超过2023年全年水平。市场层面，分化较大，风格方面，价值风格占优，成长风格承压；指数方面，上证指数、红利指数领先，而科创100指数、中证2000指数等偏小市值的调整幅度较大。证券市场加强监管初具成效，严把IPO入门关，设置更加严格的强制退市标准，完善高杠杆金融衍生品监管制度，注重提高上市公司质量，鼓励分红，把保护投资者利益放在更加重要的位置上。基金运作方面，一季度小市值股票和部分成交量不大的科创板股票，受流动性冲击，跌幅较大，本基金由于持仓分散，在上述两个部分均有一定配置，使得一季度净值回撤较大，但随着春节后市场流动性的恢复，上述问题得到大幅改善。本基金一季度总体继续保持偏高仓位运行，在市场调整中优化持仓，虽然总体持仓仍然分散，但结构上往资产质量扎实，业绩确定性较强，成长空间较大的标的上做相对集中。同时，由于在市场调整中，部分持仓的可转债跌幅相对股票小，转股溢价率抬升，性价比弱于之前，因此减持了部分可转债，换成了股票，使组合性价比更优，反弹也会更有弹性。配置上，仍然以科技创新为主线，维持创新药、创新医疗器械、高端医疗设备等领域的配置，左侧加仓了临床CRO、临床前CRO、生命科学上游等可能在不远的未来能见到景气度拐点的细分领域。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:27.431Z","fund":{"_id":3000000001965,"stockCode":"001965","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-30T16:00:00.000Z","setUpScale":1069350000,"market":"a","tickerId":1965,"custody":"兴业银行股份有限公司","name":"圆信永丰兴源灵活配置混合型证券投资基金","shortName":"圆信永丰兴源(001965)","fundSecondLevel":"hybrid","__csrcFundId":1817,"fundStatus":"normal","lastUpdated":"2026-04-30T18:16:55.982Z","masterFundFlag":1,"inceptionDate":"2017-06-20T16:00:00.000Z","fundCollectionId":4000050950000,"currency":"CNY","masterFundShortName":"圆信永丰兴源","pinyin":"yxyfxylhpzhhxzqtzjj","managers":[{"stockCode":"8801466616","stockType":"fund_manager","exchange":"fm","tickerId":241925179650,"name":"肖世源"}]},"announcement":{"linkText":"圆信永丰兴源灵活配置混合型证券投资基金2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?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"announcement":{"linkText":"圆信永丰兴源灵活配置混合型证券投资基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=963445","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec60f7fea5b3eb045173d","date":"2023-03-30T16:00:00.000Z","stockId":3000000001965,"sao":"2023年一季度，国内疫情快速过峰，疫情对经济的影响也逐渐消退，随着助力经济复苏的各项政策持续落地，经济基本面稳步复苏，虽然市场对于经济是强复苏还是弱复苏仍然颇有分歧，但不改复苏的主基调，市场信心得到明显修复。一季度北向资金净流入1859亿元，两融余额净增加698亿元，基金发行也较去年转暖，市场流动性也相对宽松，在此基础上，市场各宽基指数一季度涨幅都为正，尤其是科创50指数涨幅居前；行业层面，大多数行业一季度同样涨幅为正。不仅如此，市场结构性行情明显，以数字经济、中特估为代表的主线持续演绎，市场风险偏好明显提高，带动两市成交量回到万亿以上。基金运作方面，相对看好今年市场行情，基金整体保持较高仓位运行。配置上抓住两条主线，一是经济复苏，主要是和经济活动相关，医院常规诊疗活动相关的领域；二仍是科技创新，坚守自主可控中长期战略方向，配置拥有核心技术，有进口替代能力，并且景气度较好的细分领域，包括创新药、创新医药器械，高端医疗设备等。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:27.421Z","fund":{"_id":3000000001965,"stockCode":"001965","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-30T16:00:00.000Z","setUpScale":1069350000,"market":"a","tickerId":1965,"custody":"兴业银行股份有限公司","name":"圆信永丰兴源灵活配置混合型证券投资基金","shortName":"圆信永丰兴源(001965)","fundSecondLevel":"hybrid","__csrcFundId":1817,"fundStatus":"normal","lastUpdated":"2026-04-30T18:16:55.982Z","masterFundFlag":1,"inceptionDate":"2017-06-20T16:00:00.000Z","fundCollectionId":4000050950000,"currency":"CNY","masterFundShortName":"圆信永丰兴源","pinyin":"yxyfxylhpzhhxzqtzjj","managers":[{"stockCode":"8801466616","stockType":"fund_manager","exchange":"fm","tickerId":241925179650,"name":"肖世源"}]},"announcement":{"linkText":"圆信永丰兴源灵活配置混合型证券投资基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=880537","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec60f7fea5b3eb045173c","date":"2022-12-30T16:00:00.000Z","stockId":3000000001965,"sao":"2022年是不平凡的一年，内外部环境复杂严峻，全球新冠肺炎疫情持续演变，中国在落实“外防输入、内防反弹”总策略的同时，不可避免对经济活动造成负面影响；美国通胀高位，并且全年都在加息周期中，美国对中国实体企业的扼制和打压有增无减，尤其是科技领域；俄乌冲突仍然在持续，大宗商品及能源价格剧烈波动。多重挑战之下，需求收缩、供给冲击、预期转弱三重压力是2022年中国经济发展面临的主要矛盾，经济下行压力较大，粮食安全、能源安全、供应链安全、自主可控也提到了更高的战略位置上。直到四季度，随着国内疫情防控政策的优化，生产生活秩序陆续恢复正常，经济进入复苏周期。对应到资本市场，在内外因共同作用下，虽然权益市场四季度探底回升，市场转暖，但2022年全年各主要指数仍然都有明显跌幅，其中，沪深300指数跌幅21.63%，创业板指数跌幅29.37%，且在各阶段的反弹中，板块之间轮动快，投资难度较大。全年来看，小市值股票表现好于大市值股票，因此，全市场股票的跌幅中位数，也好于股票型基金和偏股型基金的跌幅中位数。基金运作方面，2022年主要配置方向变化不大，战略上围绕科技创新主线，自主可控的中长期战略方向，重点配置拥有核心技术，有进口替代能力，并且景气度较好的细分领域，包括创新药、创新医药器械，高端医疗设备及上游核心零部件等。在市场出现较大幅度调整的时候，本着底线思维，从中长期视角出发，仍保持较高仓位，在调整中优化持仓组合，配置更集中在未来成长空间更大，业绩增长确定性更强，尤其是已经出台股权激励和回购股份的标的。战术性方面，根据全年疫情防控的不同阶段，或配置了疫情防控受益标的，或配置了“稳增长”相关板块，以及疫情防控政策优化之后配置了经济复苏相关产业链标的等。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:27.418Z","mo":"中央经济工作会议指出，2023年经济工作的重点是“推动经济运行整体好转”，“大力提振市场信心”，释放出把发展放在首要任务，提振各界信心的信号；“稳健的货币政策要精准有力，保持流动性合理充裕”，预计货币政策延续适当宽松，延续宽信用，在支持实体经济、防范化解重大风险、稳楼市方面发挥积极作用；“要把恢复和扩大消费摆在优先位置”，着力扩大国内需求，扩大内需将是2023年经济工作的主要抓手。我们认为，随着各领域助力经济复苏政策的落地，中国经济将进入复苏新阶段。同时，虽然当前市场对美联储是否放缓加息步伐仍存在分歧，但加息周期有望于2023年中之后接近尾声，加息对国内资本市场的影响已经在弱化。综上所述，虽然2023年内外部环境仍然充满挑战，但在经历了2022年权益市场的低迷之后，当前积极因素在增加，企业盈利有望改善，流动性有望延续适度宽松，因此我们对2023年的市场总体保持相对乐观的态度。","fund":{"_id":3000000001965,"stockCode":"001965","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-30T16:00:00.000Z","setUpScale":1069350000,"market":"a","tickerId":1965,"custody":"兴业银行股份有限公司","name":"圆信永丰兴源灵活配置混合型证券投资基金","shortName":"圆信永丰兴源(001965)","fundSecondLevel":"hybrid","__csrcFundId":1817,"fundStatus":"normal","lastUpdated":"2026-04-30T18:16:55.982Z","masterFundFlag":1,"inceptionDate":"2017-06-20T16:00:00.000Z","fundCollectionId":4000050950000,"currency":"CNY","masterFundShortName":"圆信永丰兴源","pinyin":"yxyfxylhpzhhxzqtzjj","managers":[{"stockCode":"8801466616","stockType":"fund_manager","exchange":"fm","tickerId":241925179650,"name":"肖世源"}]},"announcement":{"linkText":"圆信永丰兴源灵活配置混合型证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=870269","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec60f7fea5b3eb045173b","date":"2022-09-29T16:00:00.000Z","stockId":3000000001965,"sao":"2022年三季度，外部环境复杂多变，挑战增多，俄乌冲突仍在持续，地缘政治风险呈升级态势；美国通胀数据超出预期，美联储紧缩预期加速升温，人民币汇率承压；全球疫情仍高位运行，“外防输入”压力仍存。国内方面，粮食安全，能源安全，供应链安全提到了更高的位置；本土疫情呈现“点多、面广、频发”的特点，防控形势依然严峻；三季度以来我国经济总体延续恢复态势，但经济恢复势头偏弱，需求不足矛盾依旧突出；地产下行压力仍存；市场主体预期不稳、信心下降。在国内不确定因素的交织共振下，市场在经历5月、6月的大幅回暖之后，三季度整体呈现调整态势，风险偏好降低，北上资金转为净流出，两融余额下降，但基金发行较二季度继续回暖。基金运作方面，三季度仍然围绕科技创新的主线，重点配置拥有核心技术，有进口替代能力的细分领域标的，增配了医疗设备，科研仪器等财政贴息贷款受益的方向，增配了今年冬春流感季有望受益的标的，减配了医美等消费医疗方向。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:27.415Z","fund":{"_id":3000000001965,"stockCode":"001965","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-30T16:00:00.000Z","setUpScale":1069350000,"market":"a","tickerId":1965,"custody":"兴业银行股份有限公司","name":"圆信永丰兴源灵活配置混合型证券投资基金","shortName":"圆信永丰兴源(001965)","fundSecondLevel":"hybrid","__csrcFundId":1817,"fundStatus":"normal","lastUpdated":"2026-04-30T18:1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场整体流动性预计仍将保持相对充裕，机构的权益配置需求仍在增加，2020年前三季度公募基金发行规模已达到2018年和2019年发行规模之和，因此，仍相对看好四季度行情。基金运作方面，三季度医药板块调整较为充分，高估值的风险有所释放，增加了医药配置，仍相对看好医药三季报行情；同时，从均值回归和绝对收益的角度，维持低估值的银行配置，适当配置顺周期板块。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-27T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:27.392Z","fund":{"_id":3000000001965,"stockCode":"001965","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-30T16:00:00.000Z","setUpScale":1069350000,"market":"a","tickerId":1965,"custody":"兴业银行股份有限公司","name":"圆信永丰兴源灵活配置混合型证券投资基金","shortName":"圆信永丰兴源(001965)","fundSecondLevel":"hybrid","__csrcFundId":1817,"fundStatus":"normal","lastUpdated":"2026-04-30T18:16:55.982Z","masterFundFlag":1,"inceptionDate":"2017-06-20T16:00:00.000Z","fundCollectionId":4000050950000,"currency":"CNY","masterFundShortName":"圆信永丰兴源","pinyin":"yxyfxylhpzhhxzqtzjj","managers":[{"stockCode":"8801466616","stockType":"fund_manager","exchange":"fm","tickerId":241925179650,"name":"肖世源"}]},"announcement":{"linkText":"圆信永丰兴源灵活配置混合型证券投资基金2020年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=489142","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec60f7fea5b3eb0451732","stockId":3000000001965,"sao":"上半年突发的新冠肺炎疫情深刻地影响了中国和世界各国。国内实行最严格的防控措施，有效阻断了疫情的传播，取得了阶段性重要成效，但与此同时，疫情仍在海外多个国家持续蔓延，国内疫情防控外防输入，内防反弹，随着防控工作进入常态化防控阶段，生产生活秩序加快恢复，全面推动复工复产。由于疫情影响，上半年稳增长和稳就业的压力增大，宏观政策逆周期调节的力度也加大，央行综合运用多种货币政策工具，保持流动性合理充裕，引导金融机构加大对实体经济特别是小微企业、民营企业的支持力度，有效对冲疫情对经济增长的影响。上半年市场整体流动性较为宽裕，机构的权益配置需求仍在增加，北上资金持续流入，因此虽然上半年市场也经历了多次波动，但我们总体上对市场保持相对乐观。基金运作方面，上半年主要配置在业务不受疫情影响，甚至还有正面拉动的细分行业，如新冠检测试剂、医疗设备，以及医疗信息化，在线教育、在线办公、在线游戏等，至二季度末，由于上半年板块间分化严重，市场上高估值、高配置的医药、食品饮料和低估值、低配置的金融、地产、周期等板块的相对收益率持续拉大，从均值回归以及绝对收益的角度，减配了医药，消费，增配了银行、保险、券商、地产、化工、有色等板块，整体配置更偏均衡。","date":"2020-06-29T16:00:00.000Z","declarationDate":"2020-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:27.389Z","mo":"二季度以来，国内疫情虽小有反复，但总体已处于稳定控制状态，经济稳步恢复，复工复产逐月好转，二季度经济增长明显好于预期。但与此同时，经济形势依然复杂严峻，不稳定不确定性较大，境外疫情仍在加速蔓延，外需仍有下滑风险，此外近期中美关系紧张态势有所升级。7月底中央政治局会议提出，扎实做好\"六稳\"工作，全面落实\"六保\"任务，努力完成全年经济社会发展目标任务；财政政策要更加积极有为、注重实效；货币政策要更加灵活适度、精准导向；房地产调控重申\"房住不炒\"。预计若下半年外部环境、特别是外需出现较为明显的不利走势，国内宏观政策还会保持高度灵活性，与其他主要经济体相比，当前我国无论是在货币政策还是在财政政策方面，都留有充分的发力空间。预计下半年政策整体上仍会维持相对宽松，但节奏上会有所控制，更多强调金融服务实体的功能。","fund":{"_id":3000000001965,"stockCode":"001965","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-30T16:00:00.000Z","setUpScale":1069350000,"market":"a","tickerId":1965,"custody":"兴业银行股份有限公司","name":"圆信永丰兴源灵活配置混合型证券投资基金","shortName":"圆信永丰兴源(001965)","fundSecondLevel":"hybrid","__csrcFundId":1817,"fundStatus":"normal","lastUpdated":"2026-04-30T18:16:55.982Z","masterFundFlag":1,"inceptionDate":"2017-06-20T16:00:00.000Z","fundCollectionId":4000050950000,"currency":"CNY","masterFundShortName":"圆信永丰兴源","pinyin":"yxyfxylhpzhhxzqtzjj","managers":[{"stockCode":"8801466616","stockType":"fund_manager","exchange":"fm","tickerId":241925179650,"name":"肖世源"}]},"announcement":{"linkText":"圆信永丰兴源灵活配置混合型证券投资基金2020年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=457670","linkType":"PDF","source":"csrc_pdf"}}]}