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迅速修复，反映出市场做多意愿充足。风格上，风险偏好继续向高景气细分赛道和小微盘集中，微盘股全年及四季度表现占优。行业与主题上，在美联储重启降息、美元走弱及大宗商品价格上行的宏观背景下，有色金属、算力、通信、商业航天等资源与科技板块领涨，而创新药等前期拥挤赛道显著回调，呈现“景气+政策”主线下的结构分化。　　债券市场方面，长端国债收益率整体呈窄幅震荡格局。美联储降息周期延续、美元走弱，人民币汇率稳步走强，季末汇率重回7以内。 　　四季度，本基金债券部分的持仓以高等级、中短久期为主，股票仓位维持在中枢水平，组合结构保持相对均衡配置。","lastUpdated":"2026-03-09T13:08:19.878Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2025年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1460196","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb045536f","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-27T16:00:00.000Z","stockId":3000000002227,"sao":"三季度，国内经济稳中有进，消费结构逐渐优化，出口韧性突出，但投资增速有所放缓，房地产市场延续筑底。美联储降息25bp，黄金季度上涨超17%，续创历史新高。三季度A股市场放量单边上行，上证综指最高接近3900点，融资余额创历史新高。风格视角，成长大幅领涨，价值表现落后。从行业看，通信、电子受益于AI相关的利好驱动季度涨幅超45%，电力设备、有色金属上涨超40%，红利属性的银行板块下跌超10%。股债\"跷跷板\"效应显著，资金从债市流向股市，债券收益率曲线呈现\"熊陡\"形态，长端利率大幅上行，30年期国债收益率飙升35BP，10年期升22BP，2年期上升13BP。　　三季度，本基金债券部分的持仓以高等级、中短久期的债券为主；股票方面，我们维持股票仓位在中枢水平，并根据市场变化对结构进行微调，适当提升了科技板块的配置比例。","lastUpdated":"2026-03-09T13:08:19.876Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2025年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1380696","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb045536e","date":"2025-06-29T16:00:00.000Z","stockId":3000000002227,"sao":"上半年，我国经济运行总体稳中向好，GDP同比增长5.3%，实现预期目标。生产端和需求端稳定增长，社会消费品零售总额增速回稳，进出口贸易增速超预期，有效对冲了房地产开发投资持续下行的影响。货币政策方面，央行继续维持适度宽松的货币政策，小幅降息降准。贸易方面在二季度初遭遇美国发起的关税冲突扰动，但中美谈判很快取得进展。　　上半年，人民币震荡升值，美元兑人民币汇率回落至7.15，黄金价格持续上涨并创历史新高，国内债券市场收益率先上后下，股票市场震荡走高，风险偏好持续改善，各大指数均收涨，但板块分化显著，有色金属、国防军工、银行等板块领涨，煤炭、食品饮料、房地产板块相对跌幅较大。　　本基金上半年债券部分的持仓以高等级、中短久期的债券为主，同时增持了部分低价转债，股票仓位维持中枢水平，组合结构进行了小幅微调。","declarationDate":"2025-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.873Z","mo":"自去年三季度末的政策组合拳发力以来，预期大幅反转，市场经历了一段强预期弱现实的阶段，股票市场快速拉升后进入到了一段较长的震荡期，来消化预期与现实的分歧。展望下半年，我们认为国内经济将继续稳健运行，随着科技、制造、消费等多个细分行业中的龙头竞争力进一步增强，预计全球市场份额将进一步提升，企业盈利水平将继续改善，股票市场将逐步过渡到强预期强现实的阶段。货币政策将延续适度宽松的定位，在政策与基本面的相互配合下，预计资本市场整体将延续向好态势。","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1346147","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb045536d","date":"2025-03-30T16:00:00.000Z","stockId":3000000002227,"sao":"一季度全球市场分化加剧，美股下跌，A股及港股上涨，A股市场内部同样显著分化，科技领涨，周期及红利下跌；DeepSeek新模型发布，性价比凸显，算力成本大幅下行，催化了中国科技资产重估，恒生科技大幅上涨；机器人政策及量产预期推动相关板块大幅上涨；受供需影响的大宗商品价格压力对周期板块形成较大压力。债券市场同样波动加剧，一季度资金面相对紧平衡，同时股市带动风险偏好回升，各期限各品种收益率普遍上行。商品中表现突出的为黄金，在央行购金及地缘风险催化下，黄金价格持续创新高。　　一季度，本基金债券部分的持仓以高等级、中短久期的债券为主；股票方面，组合结构进行了小幅微调，股票仓位维持中枢水平。","declarationDate":"2025-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.870Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal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10Y国债收益率下行5bp至2.15%。　　　　国内股市在三季度大部分时段持续承压，但随着来自于央行、金融监管总局以及证监会对资本市场部署实施一系列支持政策，9月下旬A股迎来暴力反弹，成交量迅速放大，其中非银金融、房地产、TMT等板块涨幅领先。各指数年内收益均回正。　　　　三季度，本基金继续基于追求绝对收益的思路进行操作。债券部分的持仓以高等级、中短久期的债券为主；股票方面，我们根据市场变化及时调整股票仓位及结构，股票仓位中枢抬升，结构向成长方向倾斜，组合净值实现稳健上涨。","declarationDate":"2024-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.865Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2024年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1171198","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb045536a","date":"2024-06-29T16:00:00.000Z","stockId":3000000002227,"sao":"上半年，外需持续向好趋势，带动GDP实现5%增速，但消费端和投资端依旧承压，地产数据继续下行，国内陆续出台相关政策，如放松房地产的限购、降低首付比例、推出消费补贴，政策效果逐步显现。　　　　货币政策方面，上半年国内仍保持稳健宽松的货币政策环境，央行降低了包括OMO、MLF、LPR和存款准备金率等重要利率和准备金率，同时，鉴于MLF与市场利率偏离较大，央行开始推动形成新的货币政策框架，将强化7天逆回购利率作为新的政策利率。伴随着政策利率及存款利率的持续下调，债市走出全面牛市，上半年，国内长端债券收益率大幅下行。　　　　权益市场方面，上半年国内股市大幅波动：一季度经历大幅下跌后迎来反弹，随后在5月下旬见顶，此后一路回调。风格上，大盘股和红利股表现占优，小盘股表现较差；行业层面，银行、公用事业、能源及有色涨幅靠前，而TMT、地产链、消费等行业跌幅较多。　　　　上半年，本基金债券部分的持仓继续以高等级、中短久期的债券为主；股票方面，组合仓位维持相对稳定，持仓结构上持续优化。","declarationDate":"2024-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.862Z","mo":"展望下半年，我们对国内经济和资本市场的看法相对乐观。首先，当前极低的市场估值，已经反映了投资者相当悲观的预期，未来的价格边际变化将更多反映经济基本面的边际变化；其次，宽松的货币政策为宏观经济提供了有利的政策环境，尤其进入下半年后，外围经济体的增长动能逐渐转弱，将纷纷开启降息周期；第三，国内稳增长和促需求的政策正在不断发力，从发行超长特别国债，到推动设备更新和消费品以旧换新等政策的推出，都有望扭转当前国内弱需求的现实。","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选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=1154332","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455369","date":"2024-03-30T16:00:00.000Z","stockId":3000000002227,"sao":"一季度，国内经济企稳回升，韧性显现，多个指标开始转暖：3月制造业PMI时隔5个月重回扩张区间，达到50.8；1-2月规模以上工业企业利润同比增长10.2%，生产端动能进一步提升；2月份的CPI同比增长0.7%回到正值。货币政策继续保持宽松，一季度央行降准一次。长端和超长端利率下行幅度较大，收益率均创下历史新低。美国方面，在经济数据和就业数据的催化下，降息预期不断下行，10年美债利率上行超过30bp。　　　　股市方面，一季度国内股市经历大幅下跌后快速反弹，主要指数均回归到年初的位置。板块间分化较大，以煤炭、有色、石油石化为代表的资源股以及银行、家电、公用事业等涨幅居前，而地产链及计算机、电子等跌幅居前，概念上表现突出的包括光模块、传媒、及低空经济。　　　　一季度，本基金债券组合继续维持高等级、中短久期；股票组合逐步增加仓位水平，并在结构上持续优化，一季度取得正回报。","declarationDate":"2024-04-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.859Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2024年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1075288","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455368","date":"2023-12-30T16:00:00.000Z","stockId":3000000002227,"sao":"2023年，国内经济经历了曲折的复苏过程，困难主要来自于内外需求较为疲弱，以及地产投资下滑，但最终仍旧完成了年初制定的目标，全年GDP增速达到5.2%。年底召开的中央经济工作会议，对2024年的经济工作定下了“稳中求进、以进促稳、先立后破”的总基调，相信将会有更多有力的促增长的政策出炉，实现经济的高质量发展。通胀方面，全年CPI同比上涨0.2%，较为温和。货币政策也较为宽松，年内存款和LPR利率均有下行，10Y国债收益率由2.85%下行30bp至2.55%。　　　　权益市场方面，2023年A股经历了较好的开局，年初消费、医药、TMT等都有不错表现。在AI的加持下，通信、传媒、计算机等板块在上半年涨幅巨大。但随着下半年经济复苏节奏放缓，市场也随之走弱。全年来看，通信、传媒、能源、计算机等板块涨幅较大，而地产产业链、新能源及消费产业链跌幅居前。　　　　2023年，本基金债券部分的持仓继续以高等级、中短久期的债券为主，为组合贡献了确定性收益；股票操作方面，面对市场的大幅波动，我们适当降低了组合的股票仓位，加强了组合的防守特征，降低了组合净值回撤。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩。","declarationDate":"2024-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.857Z","mo":"展望2024年，我们对中国经济和资本市场较为乐观。经历了近两年的下跌和2024年年初的快速下行，A股各个主要指数的估值水平均已触达历史最低区间，悲观情绪得到充分释放，而积极的因素则不断累积，市场正在经历估值修复的第一阶段；此外，国内经济有望走出2023年的弱需求和弱预期的环境，年初以来，央行相继降低了存款准备金率和LPR的利率，接下来财政政策也有望发力，为2024年的经济高质量增长保驾护航；最后，资本市场的改革也将会是2024年的重头戏，一系列促进融资端和投资端的改革有望落地，市场信心和流动性也有望好于2023年。","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1056787","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455367","date":"2023-09-29T16:00:00.000Z","stockId":3000000002227,"sao":"三季度，国内经济复苏节奏有所放缓，内需和外需都有一定承压。政策端逐渐发力，7月政治局会议召开后，包括财政及货币政策、房地产市场、资本市场等重要领域的政策都有所调整。三季度末可以观察的数据已开始触底回升，如制造业PMI再次回到荣枯线水平之上，为接下来的经济加快恢复夯实基础。    货币政策方面，三季度国内仍旧延续稳健偏宽松的货币政策，央行相继下调了存款准备金率以及逆回购、MLF及LPR的利率，流动性整体也较为宽松。而国外主要央行受制于较高的通胀率水平，仍旧采取紧缩式的货币政策，美联储于7月加息之后，未来仍存加息的预期，超过了市场此前的预测。    三季度，资本市场的利好政策频发，包括印花税减半、大股东减持、投资及融资节奏的动态平衡等一系列政策，给予投资者一定的信心。但市场表现仍旧分化较大，煤炭、石油、银行及非银涨幅居前，而新能源、TMT、农林牧渔等板块跌幅居前，赚钱效应较为一般。    三季度，本基金债券部分的持仓继续以高等级、中短久期的债券为主；股票方面，组合仓位整体稳定，结构上持续优化。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.854Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=992447","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455366","date":"2023-06-29T16:00:00.000Z","stockId":3000000002227,"sao":"上半年，国内经济步入复苏周期，GDP增速5.5%，超过年初设定的5%的目标，但复苏的基础还有待进一步夯实。投资方面，制造业和基建投资保持较高增速，房地产投资有一定程度回落；随着线下消费场景的放开，消费稳步回温，上半年社零同比增长8.2%。进入7月份以来，针对地产投资下滑和提升居民消费信心，政策端相继有一系列措施出台。    货币政策方面，外围市场尤其是美国较好的就业和较高的通胀数据，美联储今年加息4次，未来仍存加息预期；国内的货币政策相对独立，上半年央行降准降息，公开市场操作利率、MLF和LPR利率有所降低，流动性也较为充裕。    股市方面，上半年股票注册制正式落地，市场虽整体小幅上涨，但基本面现实与预期间差异较大，市场结构分化较大，AI相关板块涨幅较大，而顺周期和新能源板块走势较弱。    上半年，本基金债券部分的持仓继续以高等级、中短久期的债券为主；股票方面，考虑一定回撤的约束，组合仓位较上期有所降低，但在结构上有所调整和优化。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩。","declarationDate":"2023-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.851Z","mo":"经过上半年的调整，市场整体估值水平处于低位。政策方面，近期稳增长政策持续出台，包括房地产政策的优化以及促进消费政策的出台，市场预期持续改善。展望下半年，随着库存周期的企稳反弹，以及政策的持续出台，经济基本面大概率持续改善，结合处于低位的估值水平，对于下半年的股票市场，我们整体相对乐观。流动性的充裕以及部分产业技术的持续突破，也将带来股票市场的阶段性主题性机会。","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选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=966550","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455365","date":"2023-03-30T16:00:00.000Z","stockId":3000000002227,"sao":"一季度，国内经济呈现温和复苏态势，GDP增速指标定在5%左右，整体而言相对中性。一季度，出口增速较此前有所回落，但地产数据恢复较好，强刺激政策并未出现。消费则随着线下消费场景的放开，稳步回温。    货币政策方面，一季度外围央行，尤其是美联储的持续加息，仍旧影响着全球市场。美联储两次加息共50bp，但此后硅谷银行事件引发的地区银行危机，以及通胀的高频数据使得市场对未来加息速度放缓的预期迅速升温。在此背景之下，美元指数年内下跌1.5%，贵金属黄金上涨近10%。国内的货币政策仍旧“以我为主”，保持稳健偏宽松的态势，流动性整体也较为充裕。    一季度，A股如期迎来上涨，市场的风险偏好持续提升，同时分化也较大：ChatGPT的出现及随后表现出惊人的创新能力，使得AI相关产业链涨幅较大，如计算机、通信、电子、传媒等，而新能源车、光伏、CXO、房地产等板块则持续下跌。    一季度，本基金债券部分的持仓继续以高等级、中短久期的债券为主；股票方面，我们适当提升了股票仓位，并在看好复苏确定性的基础上对风格进行了均衡化操作。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩，净值持续稳健增长。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.849Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选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=885410","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455364","date":"2022-12-30T16:00:00.000Z","stockId":3000000002227,"sao":"2022年国内经济遭遇一系列挑战，市场持续面对较大的不确定性。在多方面努力下，经济韧性较强，全年GDP实现3%增长。四季度，随着内外部环境及政策的变化，生产及生活活动逐渐恢复至常态，经济基本面最差的时点已经成为过去时。通胀方面，国内物价整体平稳运行，全年CPI涨幅仅为2%，PPI则回落至4.1%。这也为国内保持相对稳健的货币政策提供了较宽松的环境，央行在2022年降低了OMO、MLF和LPR的利率，中短端的利率债收益率有所下行。    权益市场方面，A股在震荡中下行，只有煤炭、消费者服务及交运等少数几个行业录得正收益，其他板块均有不同幅度的下跌。    2022年，本基金债券部分的持仓继续以高等级、中短久期的债券为主，为组合贡献了确定性收益；股票操作方面，面对波动下行的市场，我们灵活调整仓位和持仓结构，保证了组合回撤和收益的均衡。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.846Z","mo":"展望2023年，我们对中国的资本市场充满信心。一方面，国内各项生产生活逐步恢复，市场信心逐渐增强。与此同时，今年也是“二十大”后的开局之年，预计将有一系列促进经济增长的政策出炉；另一方面，2023年市场的内外部环境大概率要好于2022年。2022年的系列负面冲击，都将在2023年好转。   在实际的投资过程中，面对市场的不确定性，我们始终把回撤控制放在重要的位置，在此基础上做好大类资产的配置，动态调整及优化组合的投资策略，继续追求组合净值稳健增长。","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选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=872758","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455363","date":"2022-09-29T16:00:00.000Z","stockId":3000000002227,"sao":"三季度，国内宏观经济活动整体偏弱。一方面，国内部分地区仍不时受疫情的影响，正常的经济生产活动并未如预期一样强劲的恢复，7月和8月的PMI均处于荣枯线以下，直至9月份才回到荣枯线以上；另一方面，外围的政治与经济环境仍充满较大的不确定性。疫情造成的供应链冲击尚未完全恢复，俄乌战争又使得油价高企。受此影响，欧美等经济体的CPI居高不下，央行为对抗高通胀而不断加息，加大了对世界经济衰退的担忧，进而影响国内的外需出口。通胀方面，国内表现要好于外围，CPI整体稳定，而PPI则一路下探，8月份同比增速已降至2.3%。    由于面临不同的经济周期及外部环境，国内与国外的经济表现及通胀数据分化较大。因此在外围的加息周期中，国内仍有能力采取独立自主的货币政策，延续了此前稳健偏宽松的政策环境。8月份，央行相继降低了MLF和OMO的利率，同期的LPR利率也有相应的下降，对于债市构成利多。三季度，国内主要期限债券收益率整体下行，短期如1Y国债收益率下行约10bp至1.85%，长端如10Y国债收益率下行5bp至2.75%。    权益市场方面，三季度整体表现较弱。除煤炭板块之外，其他所有板块均录得负收益。其中，跌幅较大的为建材、汽车、TMT、医药以及电力设备板块，石油石化、公用事业、军工、地产等板块跌幅相对较小。    三季度，本基金债券部分的持仓继续以高等级、中短久期的债券为主，为组合贡献了确定性收益；股票操作方面，三季度股票仓位整体偏中性，持仓结构较为均衡，兼具价值与成长。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.843Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=809295","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455362","date":"2022-06-29T16:00:00.000Z","stockId":3000000002227,"sao":"上半年，国内经济增长承受一定压力，不确定因素累积，“黑天鹅”事件频发。如国内疫情、俄乌战争、高油价和高通胀、加息等一系列宏观事件的发生，打乱了市场此前对增长的预期。但在政府大力统筹下，国内疫情得到良好控制，通胀也维持在相对较低的水平，上半年GDP增长2.5%，为实现全年经济增长目标打下良好基础。    货币政策方面，由于经济增长周期的错位，以及通胀水平的迥异，国内外的货币政策呈现不同的取向。国外央行，为对抗居高不下的通胀率，加息的频率和力度屡超市场预期。而国内央行的货币政策导向继续“以我为主”，上半年相继降低了MLF、LPR的利率，流动性也始终维持在相对合理充裕的水平。上半年，收益率曲线呈现陡峭化变化，短端债券收益率下行幅度较大，如1y国债收益率下行30bp，而中长端债券收益率整体小幅上行。    权益市场方面，上半年国内股市呈“V”字走势：年初至4月底大幅下跌，随后迅速反弹至6月底，上证指数由最低点的2863点反弹至3398点。结构方面，行业间则继续分化，电力设备、汽车、机械、军工、有色及化工等板块反弹力度较大，相关细分赛道及个股表现领先市场，而传统的银行、地产、建筑等板块反弹力度弱。    上半年，本基金债券部分的持仓继续以高等级、中短久期的债券为主，为组合贡献确定性收益；股票操作方面，上半年我们整体保持中性仓位，来面对不确定性的市场。持仓结构相对均衡，在复杂的的市场环境下，净值获得正收益。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.841Z","mo":"展望下半年，国内经济面临的不确定性因素大概率要少于上半年，财政政策和货币政策将会延续当前的主基调，相信更多的稳增长措施也会逐步推展开，经济有望加速回暖。基于此判断，我们仍旧对下半年国内权益和债券市场持谨慎乐观态度。同时，我们也注意到经历近一个季度的反弹后，市场整体估值有所抬升，部分行业及板块则回到较高的水平，因此我们也会将防风险放在较为重要的位置。在实际操作中，会动态调整及优化组合的持仓结构，继续追求净值的稳健增长。","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2022年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=787530","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455361","date":"2022-03-30T16:00:00.000Z","stockId":3000000002227,"sao":"一季度，经济增长承压，市场对于稳增长的预期较强。受到包括国内疫情、美联储加息、以及俄乌冲突等多方面因素影响，市场风险偏好较低。货币政策方面，国内独立性相对较高，一季度相继降低了MLF及LPR利率，为经济稳增长助力。市场表现方面，国内股票市场分化加大，价值优于成长，小盘优于大盘，稳增长表现较好。债券市场收益率曲线呈微幅陡峭化，短端收益率在政策驱动下有所下行。    一季度，本基金债券部分的持仓继续以高等级、中短久期的债券为主；股票方面，我们在风格方面进行了均衡化操作，并逐渐提升了股票仓位。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.838Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2022年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=730073","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb0455360","date":"2021-12-30T16:00:00.000Z","stockId":3000000002227,"sao":"2021年，尽管仍受新冠疫情的困扰，但全球经济依然展现出较强的韧性，主要经济体的GDP增速均呈现大幅反弹的势头。随着新冠疫苗接种率的快速提升，以及特效药的不断问世，部分国家及地区的开放政策正不断放宽，疫情的影响有望持续降低。国内经济增速由于基数原因，呈现出“前高后低”的走势。从部分核心经济及金融指标的表现，可以判断出国内经济已逐步回归至疫情发生前的常态。在全球复苏的大背景下，通胀担忧又起，以原油为代表的的大宗品价格连创新高，引发市场较大忧虑，同时对宽松的货币政策带来较大挑战。    因此，各主要经济体央行的货币政策成为资本市场的重要关注点。美联储最新的议息会议表明，2022年的加息已成为大概率事件。而国内的货币政策依然呈现出“以我为主”的导向。下半年，随着经济增速的下行，宽松的货币政策再起，央行相继降低了存款准备金率、逆回购利率、MLF和LPR利率。受益于宽松的流动性，10Y以内的债券收益率整体下行，其中：1Y国债收益率下行20bp至2.25%，10Y国债收益率下行35bp至2.78%。    2021年，国内股市呈现出剧烈分化的态势，成交量也不断攀升至近年的高位。新能源汽车产业链、光伏、半导体、钢铁、煤炭等板块涨幅较大；而消费、医药、农林牧渔、地产产业链则表现低迷，对指数造成一定拖累。    2021年，本基金债券部分的持仓继续以高等级、中短久期的债券为主，为组合贡献确定性收益；股票操作方面，面对分化加剧的股票市场，我们适时地调整了组合的权益仓位，同时也对结构也做了一定的转变，保证了组合回撤和收益的均衡。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.835Z","mo":"展望2022年，我们仍旧对国内资本市场持谨慎的乐观态度。一方面，后疫情时代，经济复苏仍旧是主基调。年初，国内的“稳增长”政策不断出炉，有望保证2022年国内GDP增速保持在5~6%的正常化水平，对大部分行业和公司的基本面形成利好；另一方面，我们也没有低估国内经济所面临的挑战和不确定性。回归至资本市场，A股年初的下跌，市场估值有所下降，则抵消了经济的部分不确定性。同时，投资者也可以对稳健的货币政策有一定的合理预期；此外，资本市场改革、居民财富配置的转移、产业创新升级等红利仍在，我们一直对国内资本市场抱有极大的信心。在实际的投资过程中，面对市场高波动环境，我们始终把回撤控制放在重要的位置，在此基础上做好大类资产的配置，动态调整及优化组合的投资策略，继续追求组合净值稳健增长。","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2021年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=716253","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb045535f","date":"2021-09-29T16:00:00.000Z","stockId":3000000002227,"sao":"三季度，国内经济整体稳中向好运行，但在2020年下半年高基数的基础上，部分核心经济指标增速有所回落，也表明经济正逐渐回归至常态。随着疫苗接种人群的不断扩大，全球经济也延续了此前的复苏态势，已逐渐摆脱疫情的负面影响。通胀方面，受供需两方面及政策的影响，三季度全球的大宗商品价格不断走高，带动国内PPI持续上行，CPI则相对较为稳定。随着全球经济活动的不断复苏，货币政策的变动再次成为市场关注焦点。美联储9月的议息会议表明，Taper和加息的时间点已逐渐临近，对其他经济体的货币政策带来一定影响。三季度，国内货币政策整体保持了此前的稳健状态。央行于7月初实施降准操作，保证了市场的流动性继续处于较为宽松的水平。收益率方面，10Y以内的债券收益率均有所下行，其中：1Y国债收益率下行10bp至2.33%，10Y国债收益率下行20bp至2.88%。三季度，国内股票市场整体表现稳定，但不同指数、行业和板块之间出现剧烈分化。其中，偏周期的行业涨幅明显，如石油石化、有色、化工、煤炭、钢铁等，而传统的消费、医药、TMT等行业则整体下跌。其中的原因，与行业的供需结构、产业政策、估值等有一定的关系。三季度，本基金债券部分的持仓继续以高等级、中短久期的债券为主，为组合贡献确定性收益；股票操作方面，我们在三季度整体保持中等仓位，在低回撤的约束下，使得净值继续保持稳健的增长。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩。","declarationDate":"2021-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.833Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2021年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=658222","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb045535e","date":"2021-06-29T16:00:00.000Z","stockId":3000000002227,"sao":"上半年，国内经济延续了自去年二季度以来的复苏势头，GDP增速为12.7%，大部分核心经济及金融指标已恢复至疫情前的水平。随着多款疫苗的上市及大规模接种，全球经济也已摆脱疫情的冲击，正逐渐迎来同步复苏。在复苏的大背景下，通胀如影随形，引发市场忧虑。包括原油价格在内的工业品价格在上半年不断走高，国内PPI同比增速也创下近年新高。在后疫情时代经济复苏的背景下，国内外货币政策及流动性的变动，成为市场的重要关注点。上半年，国内货币政策整体保持了此前的稳健状态，央行再次开启降准，略超市场预期。受益于较为宽松的流动性，上半年10Y以内的债券收益率整体小幅下行，其中：1Y国债收益率下行5bp至2.43%，10Y国债收益率下行7bp至3.08%。上半年，国内股市在分化中震荡上行，成交量不断攀升。以新能源汽车、光伏、半导体、医药为代表的的新兴经济领域上涨明显；而传统经济领域，如大金融、家电、农林牧渔等板块跌幅较大，对指数造成一定的拖累。上半年，本基金债券部分的持仓继续以高等级、中短久期的债券为主，为组合贡献确定性收益；股票操作方面，面对波动加大的股票市场，我们适时地调整了组合的权益仓位，保证了组合回撤和收益的均衡。同时，本基金也积极参与转债和新股的网下申购，增厚了部分组合业绩。","declarationDate":"2021-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.830Z","mo":"展望下半年，后疫情时代的经济复苏，仍旧是国内及全球经济的主基调。同时，考虑到复苏所面临的不确定性，稳健偏宽松的货币政策方向也不会有较大的转变。基于此，我们仍旧对国内的债券和权益市场保持谨慎乐观态度。实际投资中，面对波动加剧的资本市场，我们会将防风险放在较为重要的位置，动态调整及优化组合的投资策略，继续追求组合净值稳健增长。","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2021年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=636727","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb045535d","stockId":3000000002227,"sao":"一季度，国内经济延续了此前的复苏势头，内生增长动力较强。由于存在基数效应，部分核心经济及金融数据同比大幅走高，但随后也将逐渐回归至常态。随着疫苗接种速度的提升，全球经济也正迎来同步复苏，对于国内经济也有一定的提振。通胀方面，CPI继续处于低位，与猪肉价格从高位回落有关；而PPI则持续走高，主要源自原油、铜、铝等工业品价格的大幅抬升，也反应了全球经济的复苏力度正在增强。在“不急转弯”的政策主基调下，一季度的货币政策仍维持了此前稳健偏宽松的状态。流动性较去年四季度有所收紧，短端债券的收益率因此小幅上行，如1Y的国开债收益率上行15bp至2.75%；而长端债券收益率一季度整体走平，10Y国开债收益率维持在3.60%左右。权益市场方面，一季度股市波动加剧：春节前股市延续去年的整体上涨行情，以“核心资产”为代表的一部分公司涨幅明显，且上涨速度有所加快；而节后受外围市场的影响，这部分“核心资产”又出现快速下跌，市场情绪受到一定冲击。但也应看到，快速的下跌释放了部分市场风险，不改变国内资本市场长期向好发展的大趋势。一季度，本基金债券部分的持仓继续以高等级、中短久期的债券为主，为组合贡献确定性收益；股票操作方面，我们在震荡的市场环境中动态调整了仓位，成功控制了组合的回撤，净值继续保持稳健增长，同时获取了更多的主动权。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩。","date":"2021-03-30T16:00:00.000Z","declarationDate":"2021-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.827Z","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"2026-04-30T18:23:02.411Z","masterFundFlag":1,"inceptionDate":"2016-03-21T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城新优选混合","pinyin":"ccxyxhhxzqtzjj","managers":[{"stockCode":"db20352061","stockType":"fund_manager","exchange":"fm","tickerId":1317150010,"name":"马强"}]},"announcement":{"linkText":"长城新优选混合型证券投资基金2021年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=575321","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6437fea5b3eb045535c","stockId":3000000002227,"sao":"受新冠疫情的冲击，2020年国内及全球经济均遭遇大幅冲击，除中国外，其他主要经济体的经济规模均出现萎缩。在国内有效的疫情防控政策下，2020年GDP首次突破100万亿，增速达到2.3%，展现出极强的韧性。后疫情时代，国内经济稳中向好运行，从拉动经济增长的三驾马车来看，投资及消费逐渐恢复至正常水平，出口则呈现快速增长态势，年末增速高达近20%，在全球份额占比进一步提升。通胀方面，受生猪供给增加影响，猪肉价格高位回落，2020年CPI前高后低，全年上涨2.5%；而PPI则呈现前低后高的走势，与经济增长同步变化，全年下降1.8%。货币政策方面，2020年仍延续此前的稳健偏宽松的状态，但不同阶段略有变化。上半年，经济受疫情冲击较大，央行通过降准、MLF、逆回购等操作，以较低的价格向市场投放较多的流动性，债券收益率呈现大幅下行的走势，10Y国债收益率由3.1%下行至2.5%。下半年，随着经济企稳回升，流动性边际略有收紧，债券收益率也随之大幅上行，10Y国债收益率则由2.5%上行至3.2%。权益市场方面，全年市场继续上涨，主要指数估值水平进一步提升，但行业间的分化也进一步加剧。总体来看，受疫情影响较小的行业涨幅较大，主要集中在医药、大消费、高端制造、新能源等板块。下半年，随着经济复苏加快，“顺周期”板块表现亮眼，有色、化工、机械、航运等行业涨幅靠前。回顾本基金全年的操作，债券部分保持中短久期及低杠杆的配置，持仓以高等级的债券为主；股票操作方面，仓位随着市场的波动进行动态调整，整体保持在中低水平，配置方向主要以科技、消费、金融及新能源为主，净值延续此前的稳健增长走势。同时，本基金也积极参与转债和新股的打新，增厚了部分组合业绩。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:19.824Z","mo":"展望2021年，国内经济将继续保持复苏态势。考虑到2020年底全球多款疫苗的上市及分发，疫情有望在2021年得到有效控制，全球经济也将走出疫情的阴影，复苏方向较为明确，但复苏的节奏及力度则难以准确预期。货币政策方面，大概率延续稳健的货币政策，强调“不急转弯”，保持连续性及稳定性。但也难再次回到2020年的水平，对于流动性不应有更高的预期。权益市场方面，企业盈利水平将会随着经济的复苏进一步回升，但估值水平能否持续保持此前的水平，则会面临更多的不确定性，我们将把更多的关注度聚焦在公司层面。","fund":{"_id":3000000002227,"stockCode":"002227","stockType":"fund","areaCode":"cn","followedNum":33,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2016-02-21T16:00:00.000Z","setUpScale":200940000,"market":"a","tickerId":2227,"custody":"中国民生银行股份有限公司","name":"长城新优选混合型证券投资基金","shortName":"长城新优选混合(002227)","fundSecondLevel":"hybrid","__csrcFundId":2615,"fundStatus":"normal","lastUpdated":"20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