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主题板块表现最佳，低估值红利板块全年继续走好，地产、消费、医药、周期等板块走势较差。  本组合全年保持较低换手水平，权益主要行业配置在金融、消费和地产，全年保持较高权益仓位。债券投资主要集中在短久期的利率债和低溢价率的可转债。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.658Z","mo":"展望2025年，国内经济增长有望保持适度的增长态势，全年的经济增速有望保持在5%左右，经济增长质量进一步提高。我们认为，AI、科技和高端制造业在经济中的占比将越来越高，对经济的拉动作用也将越来越大，从经济结构来看：一是消费或将是经济增长的主要动力。居民的超额储蓄不断增加，消费能力逐步提升，对消费补贴的扩容和保持会进一步拉动消费者意愿，消费信心将逐渐增强，积累消费的潜力将进行释放。二是高端制造业的持续投资，或将进一步提升国内的生产效率，提升制造业在国际上的竞争力。尤其是AI、科技和低空经济等新兴产业也将是经济增长的主要动力。三是国内房地产和股市有望企稳，财富效应的积累或将进一步提升居民消费意愿。  2025年中国资本市场预计呈现震荡上行的态势，市场机会或远大于市场的风险。目前市场的估值依然处在较低位置，中国未来的经济增长有望维持中等速度，而且经济增长的质量比以往更高，资本市场上行动力十足。2025年经济的持续增长和适度宽松稳健的货币政策，或将给中国资本市场带来强劲的支撑。我们对于2025年债券市场保持谨慎，如果利率下行太快，或将给债券投资带来较大难度，可能存在较大市场波动。  在投资策略上，我们始终坚持基本面投资的方向，坚持“安全边际”选股，在控制风险的前提下，重点持有和关注公司治理好、管理团队优秀、业务成长空间大、议价能力强、估值合理的公司和供需格局大幅改善的行业。同时提高组合的均衡和分散，致力于在长期中带来超额的收益。  本基金将继续按照基金合同及相关法律法规要求，努力做好基金投资工作，争取未来更好的长期投资收益。","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1251073","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577ff","date":"2024-09-29T16:00:00.000Z","stockId":3000000002361,"sao":"2024年三季度，国内经济走势平稳，经济增长略显转弱。消费表现相对低于市场预期，基建投资和生产设备投资稳定增长；地产销售依然比较低迷。三季度进出口数据继续超预期。  从国内资本市场来看，三季度末受货币政策刺激市场出现大幅上涨。非银行金融、人工智能主题走势强劲，消费与地产在三季度末开始发力反弹，其他板块表现平稳。  本基金依然大体保持了二季度以来配置，主要围绕消费和地产复苏进行了配置，目前权益部分金融和消费、地产配置相对较高。债券投资集中在高评级的利率债和具备债券投资价值的可转债，目前债券组合久期低于一年。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.655Z","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2024年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1172284","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577fe","date":"2024-06-29T16:00:00.000Z","stockId":3000000002361,"sao":"2024年上半年，全球经济进入缓慢增长阶段，全球的大宗商品价格出现了企稳上行。国内经济维持平稳增长，进入高质量增长的轨道中。  国内资本市场，上半年沪深300指数上涨0.89%，创业板指数下跌10.99%，中证700指数下跌5.82%。各个板块之间表现在也有较大差异，低估值红利、人工智能、有色周期板块走强。消费和医药板块走势较差，新能源车产业链和光伏产业链继续走弱。  本组合依然大体保持了一季度以来配置。债券投资围绕短久期的利率债和具有债券价值的可转债为主。权益主要围绕消费和金融、地产为主。本组合权益仓位维持在较高水平。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.653Z","mo":"展望2024年下半年，国内经济有望保持平稳增长态势，全年的经济增速有望完成政府制定的增长目标。从经济增长结构和质量来看，科技和高端制造业对经济的拉动作用越来越大，传统地产和基建占比在下降。一是消费或仍将是经济增长的主要动力。居民的超额储蓄不断增加，消费能力逐步提升，随着经济走好，消费信心有望逐渐增强，积累消费的潜力将进行释放。二是5月份以来的地产支持政策，或将对地产下半年的增长带来较强动力，有望成为下半年经济增长的主要动力之一。三是随着美联储降息预期升温，中国的进出口预计会保持小幅增长。  2024年中国权益市场，风险收益状况更好，市场和经济的不利因素可能已经反应在市场中，市场机会远大于市场的风险。目前市场的估值或已处在历史估值的相对低位，中国未来的经济增长依然有望维持中等速度，而且经济增长的质量比以往更高。2024年全年新经济的持续增长和传统经济的动力恢复或将给资本市场带来强大的基本面支撑，资本市场长期向好的基础越来越牢固，上行的爆发力也越来越强。  在投资策略上，我们始终坚持基本面投资的方向，坚持“安全边际”选股，在控制风险的前提下，重点持有和关注公司治理好、管理团队优秀、业务成长空间大、议价能力强、估值合理的公司；同时提高组合的均衡和分散，致力于在长期中带来超额的收益。  本基金将继续按照基金合同及相关法律法规要求，努力做好基金投资工作，争取未来更好的长期投资收益。","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1151202","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577fd","date":"2024-03-30T16:00:00.000Z","stockId":3000000002361,"sao":"2024年一季度，国内经济总体呈平稳态势。消费中的旅游和娱乐等服务业复苏较为强劲，基建投资和生产设备投资稳定增长；地产销售依然比较低迷。一季度进出口数据相对超预期。  从国内资本市场来看，虽然主要指数有所波动，但整体市场运行平稳。高分红板块和人工智能主题板块走势强劲，其他板块表现平稳。  本基金依然大体保持了去年年底以来的配置，主要围绕经济复苏和稳健增长进行了配置，目前权益部分金融和消费配置比例相对较高。债券部分维持了高评级、短久期利率债和债性为主的可转债投资方向。本基金权益仓位维持在较高水平。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.650Z","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1069600","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577fc","date":"2023-12-30T16:00:00.000Z","stockId":3000000002361,"sao":"2023年，全球经济进入缓慢增长阶段，美联储持续的加息终于在2023年下半年开始呈现效果，全球的大宗商品出现了企稳迹象。国内经济态势缓慢走好，依然处在复苏的轨道中。  国内资本市场，全年沪深300指数下跌11.38%，创业板指数下跌19.41%，中证700指数下跌7.81%。各个板块之间表现也有较大差异，AI 主题板块表现最佳，低估值红利板块全年走强。消费、医药和周期等板块走势较差，新能源车产业链和光伏产业链全年走势最弱。  本组合全年保持较低换手水平，维持了较高的权益仓位，配置以消费和金融行业为主。债券以短久期的利率债为主。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.647Z","mo":"展望2024年，预计国内经济增长质量或将更高，科技和高端制造业对经济的拉动作用越来越大，国内经济增长将继续保持适度的复苏态势，全年的经济增速有望保持在5%左右。主要原因如下，一是消费仍将是经济增长的主要动力之一。居民的超额储蓄不断增加，消费能力逐步提升，预计随着经济走好，消费信心将逐渐增强，积累的消费潜力将进行释放。二是保障房、城中村改造和平急两用工程将大大提升基建投资的幅度，有望成为经济增长的主要动力之一。三是如果美联储逐步降息，中国的进出口预计会保持小幅增长。  2024年中国资本市场在经历了两年的调整后，风险收益状况预计将相对更好，市场和经济的不利因素可能已经反应在市场中，市场机会或将大于市场的风险。目前市场的估值已经处在历史估值的相对低位，中国未来的经济增长依然维持中等速度，而且经济增长的质量或将比以往更高。目前市场过多关注风险，忽略了中国长期的增长潜力和能力。2024年新经济的持续增长和传统经济的动力恢复将会给资本市场带来强大的基本面支撑。预计稳健的货币政策和适度积极财政政策有望继续保持，资本市场的潜在上行空间较大。  在投资策略上，我们始终坚持基本面投资的方向，坚持“安全边际”选股，在控制风险的前提下，重点持有和关注公司治理好、管理团队优秀、业务成长空间大、议价能力强、估值合理的公司。同时提高组合的均衡和分散，致力于在长期中带来超额收益。  本基金将继续按照基金合同及相关法律法规要求，努力做好基金投资工作，争取未来更好的长期投资收益。","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1057997","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577fb","date":"2023-09-29T16:00:00.000Z","stockId":3000000002361,"sao":"三季度，国内经济依然处在复苏期，经济数据缓慢向好。房地产竣工数据符合预期，但新开工还没有大的起色；基建投资平稳增长；制造业维持稳定。出口数据符合预期，前三季度数据总体平稳向好。消费数据缓慢恢复，尤其航空，旅游和住宿等表现亮眼，高端消费有增速下滑的态势，但中低端消费形势有加速向好的趋势。  三季度资本市场，继续维持震荡的态势。宽基大盘指数表现好于小盘指数。前期表现较好的人工智能等板块回调较大，大盘蓝筹的分红板块走势明显强于其他板块。从市场的情绪看，投资者参与度不高，可能等待更明确的经济复苏数据或者更大力度的财政或货币政策。  本组合的债券投资策略依然维持短久期的利率债为主；权益仓位维持在16%左右，债券配置在80%以上，其中转债配置超过10%。债券配置集中以短久期的利率债为主。权益配置集中以消费和银行板块为主。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.644Z","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=987159","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577fa","date":"2023-06-29T16:00:00.000Z","stockId":3000000002361,"sao":"2023年上半年，全球经济进入缓慢增长阶段，美联储持续加息依然难以控制通胀，部分国家已经又呈现进入衰退的迹象。国内经济一季度恢复较好，二季度环比走弱，但依然处在复苏的轨道中。  上半年国内资本市场总体表现不尽人意，上半年沪深300指数下跌0.75%，创业板指数下跌5.61%，中证700指数上涨1.22%。各个板块之间表现分化明显，其中AI主题板块表现最佳，独领上半年行情；“中特估”板块亦有阶段表现；消费、医药及周期板块走势较差，且趋势上仍然未见反转迹象；新能源车产业链和光伏产业链上半年处在估值收缩中，板块表现相对一般。  本组合上半年保持较低换手水平，权益仓位主要配置在金融、消费及部分科技行业，投资上进一步加强自下而上的选股。债券部分保持低久期策略，持仓以利率债为主。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.641Z","mo":"展望2023年下半年，国内经济增长或有望逐渐走出底部，保持适度的复苏态势。一是消费仍将是经济增长的主要动力之一，居民的超额储蓄不断增加，消费能力逐步提升，预计随着经济走好，消费信心将逐渐增强，积累消费的潜力将逐步得到释放。二是房地产和基建投资，经过上半年的调整，预计在未来稳增长的政策拉动下，下半年增速有望高于上半年，成为下半年复苏的重要推力。  2023年中国资本市场在经历了2022年和2023年上半年的调整后，风险收益状况预计将相对更好，市场和经济的风险已经有所反应，市场机会或将大于市场风险。目前市场的估值已经处在历史估值的相对低位，中国未来的经济增长依然强劲，市场过多关注短期的利空，忽略了中国长期的增长潜力和能力。2023年下半年，我们预计新经济的持续增长和传统经济的动力恢复将会给资本市场带来强大的基本面支撑，预计适度宽松的货币政策和积极财政政策有望继续保持，资本市场的潜在上行空间依然较大。  在投资策略上，我们始终坚持基本面投资的方向，坚持“安全边际”选股，在控制风险的前提下，重点持有和关注公司治理好、管理团队优秀、业务成长空间大、议价能力强、估值合理的公司。同时提高组合的均衡和分散，致力于在长期中带来超额收益。  本基金将继续按照基金合同及相关法律法规要求，努力做好基金投资工作，争取未来更好的长期投资收益。","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=962304","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577f9","date":"2023-03-30T16:00:00.000Z","stockId":3000000002361,"sao":"2023年一季度，疫情过后国内经济受到消费的拉动，出现了较好的反弹，尤其是旅行，餐饮和服务业复苏强劲，地产销售也迎来了久违的短期复苏，但出口和地产投资依然未见明显的反弹。  从国内资本市场来看，整体市场处在平稳运行态势。一季度，权益市场表现从消费复苏到基建投资，再到三月底的CHATGPT的炒作，热点轮换，去年表现较好的消费，新能源等板块表现相对较弱。但总体围绕中国特色的估值体系和高质量发展两条主线展开。  本组合，权益仓位维持在16%左右，债券配置在80%以上，其中转债配置超过20%，其余债券配置集中在短久期的利率债为主。权益配置集中在银行板块为主。","declarationDate":"2023-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.638Z","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=889763","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577f8","date":"2022-12-30T16:00:00.000Z","stockId":3000000002361,"sao":"2022年世界经济遭受了俄乌战争引发的通胀冲击，美联储带了加息冲击，国际经济逐季回落。国内经济受到疫情、房地产需求和大宗价格走高的影响，经济增长未能达到年初目标。国内资本市场总体表现不佳，全年沪深300指数下跌21.63%，创业板指数下跌29.37%，中证700指数下跌21.76%。各个板块之间表现在全年也有较大差异，煤炭行业受到供需关系失衡影响，全年领涨国内市场，交通运输，银行地产等行业相对跌幅较少，半导体等消费电子相关行业受消费和换机周期影响，全年领跌市场，化工，钢铁和机械等与地产投资相关行业走势较差。新能车产业链和光伏产业链全年波动较大，最终没有实现较多超额回报。  本组合全年保持较低换手水平，权益仓位保持在16%左右，集中在低估值的金融板块。债券投资上，可转债比例下半年有所提升，其余债券投资集中在短久期的利率债为主。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.635Z","mo":"展望2023年，我们预计经历过疫情后的中国经济更具有增长的弹性。首先疫情对消费的影响逐渐降低，消费作为经济的主要动力在2023年有望反转。二是房地产经过近两年的调整，无论是需求和投资都将面临反弹，尤其需求的政策刺激和居民收入的预期向好，都会成为地产下半年较强复苏的推力；三是基建投资成为上半年稳增长的主要抓手，无论是新基建和传统基建在中国都有较大的发展空间，在2023年甚至更长的时间预计会成为中国经济的稳定器。  2023年中国资本市场在经历了2022年的下跌后，风险收益状况更好，大部分市场和经济的风险已经反应。目前市场的估值已经处在历史估值的相对低位，而经过2022年企业的销售和利润低位徘徊后，2023年企业的利润更具弹性。尤其是日常消费和房地产投资预计在2023年下半年将成为经济增长的强劲动力，我们预计这些板块在2023年的股价弹性也会跟随基本面有正面的反应。2023年，新经济的持续增长和传统经济的动力恢复会给资本市场带来强大的基本面支撑，如果适度宽松的货币政策和积极财政政策继续保持，则资本市场的估值弹性也会相对2022年更具向上的动量。  在投资策略上，我们始终坚持基本面投资的方向，坚持“安全边际”选股，在控制风险的前提下，重点持有和关注，公司治理好、管理团队优秀、业务成长空间大、议价能力强、估值合理的公司。同时提高组合的均衡和分散，致力于在长期中带来超额的收益。","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=869759","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577f7","date":"2022-09-29T16:00:00.000Z","stockId":3000000002361,"sao":"三季度，国内市场经过强劲反弹后出现回落，三季度中证700下跌13.39％，沪深300指数下跌15.16％，创业板指数下跌18.56％。市场的表现上，新能源汽车产业链和光伏产业链有所回调，煤炭，白酒等大宗商品和价值板块表现较好。三季度中国经济走势平稳但恢复力度仍显不强，出口略超预期，受疫情和地产销售影响，消费和投资依然未见大的起色，国内货币政策整体偏宽松。海外市场三季度依然受到高通胀和美联储加息的影响，资本市场持续走弱，海外经济增长亦显疲态。  债券市场三季度出现先涨后调的走势，总体债券市场处于偏宽松的上涨行情。  截止9月底，基金总体维持了中性较高的权益仓位，对个别业绩不及预期的个股进行了减持，组合中金融占比相对较高。债券部分仍以国开利率债为主，久期不超过两年，可转债配置基于债券的价值方向，集中在中大银行的转债品种。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.632Z","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=808487","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577f6","date":"2022-06-29T16:00:00.000Z","stockId":3000000002361,"sao":"上半年，受到俄乌战争，美国加息和国内疫情反复的影响，全球的资本市场出现了较大的调整。尤其是疫情的反复，对国内的经济也出现了短期的冲击。上半年国内的财政政策更加积极，贷款和专项债等一系列稳经济的政策陆续出台，货币政策采取了降息，降准等措施降低社会的融资成本。从资本市场来看，光伏、新能源车和煤炭等传统能源板块表现突出，消费、半导体、工程机械等板块走势较弱。  在组合的操作上，本基金坚持自下而上的基本面选股策略。目前配置较重的行业集中在金融地产、消费等板块，权益仓位上半年维持15%左右。债券投资主要集中在高评级的利率债，债券久期维持2年左右。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.630Z","mo":"展望下半年，对国内的经济增长保持乐观判断。主要原因包括，一是国内疫情基本得到控制，国内经济活动将快速恢复，尤其是基建投资和消费将成为经济增长的主要引擎，同时地产投资和销售也逐渐走出低谷。二是大宗商品价格逐渐回落，对全球的消费和投资将形成正面的影响，从而对中国的出口带来正面拉动。国内的产业结构调整逐渐为出口带来新的支撑，尤其是光伏和新能源汽车已经成为出口的重要增长点。三是积极的财政政策和适度宽松的货币政策在下半年仍将继续维持对经济增长提供有力的支撑。在经过疫情后经济增长逐渐恢复常态化，使得经济增长更具持续性。从中长期投资的角度看，中国的资本市场依然具有很强的吸引力，我们预计“双碳”经济带来的新经济的持续增长将会成为市场的主要方向。  在投资策略上，我们始终坚持基本面投资的方向，坚持“安全边际”选股，在控制风险的前提下，重点持有和关注公司治理好、管理团队优秀、业务成长空间大、议价能力强、估值合理的公司。同时提高组合的均衡和分散，致力于在长期中带来超额的收益。","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2022年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=785302","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577f5","date":"2022-03-30T16:00:00.000Z","stockId":3000000002361,"sao":"一季度，经济和市场出现调整。从经济方面，疫情出现反复。尤其传染性更强的奥密克戎病毒开始自海外传染到内陆，一些主要经济区域都受到不同程度的影响。其次，俄乌战争对全球大宗商品的供应带来冲击，原油等大宗商品价格出现大幅上涨，对国内的制造业带来冲击。再者，美联储因美国通胀高企开始加息和缩表的预期逐渐成为现实，权益资产吸引力有所下降。国内资本市场，受到上述因素影响，总体走势偏弱。除大宗商品板块走势较好，其他消费、制造业等板块都不尽人意，新能源板块也因成本上升，需求短期受阻出现回调。  本基金组合结构在一季度总体保持稳定，组合中低估值蓝筹配置居多，权益仓位保持中性。债券久期维持在两年左右，债券的配置以国开利率债为主。我们预计二季度经济将逐步走出低迷，权益市场将逐渐走好，债券市场则可能维持平稳。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.627Z","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2022年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=726547","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577f4","date":"2021-12-30T16:00:00.000Z","stockId":3000000002361,"sao":"2021年，国内消费和投资都维持了一定的增长，出口数据超市场预期；由于受到地产政策的影响，下半年经济增速低于上半年，但总体处在平稳增长的区间。证券市场，在强大的流动性支撑下，投资者的风险偏好开始提升，全年业绩稳定且增长确定性强的行业成为市场的热点，新能源车，光伏，化工周期等行业大幅跑赢市场，银行，地产和周期等低估值板块落后市场。成长板块走势明显好于大盘指数。2021年，本基金总体维持了较高的权益仓位，主要配置在金融，汽车和科技等个股。债券主要配置在利率债，久期维持在2年左右。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.624Z","mo":"展望2022年，预计在经济维稳的大环境下，国内经济将继续保持稳定增长的势头，尤其在货币政策和财政政策上既有政策空间，又有能力对经济进行适度的支持。基础建设和房地产也会有政策边际宽松的可能，消费在经过连续两年疫情冲击后，从今年开始也有可能逐渐走出地位，逐渐成为经济增长的主要动力，进出口对国内经济的贡献预计低于去年，但由于中国产业升级带来的竞争优势，预计对经济的贡献依然乐观。环览全球经济，预计在2022年依然会保持较好的增速，虽然美国开始进行货币收紧，但在经过疫情后经济增长逐渐常态化，使得经济增长更具持续性。但从中长期投资的角度看，中国的资本市场依然具有很强的吸引力，“双碳”经济带来的新经济的持续增长会成为市场的主要方向。在投资策略上，我们始终坚持基本面投资的方向，坚持“安全边际”选股，在控制风险的前提下，重点持有和关注，公司治理好、管理团队优秀、业务成长空间大、议价能力强、估值合理的公司。同时提高组合的均衡和分散，致力于在长期中带来超额的收益。","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundShortName":"国富恒瑞债券","pinyin":"flklghhrzqxzqtzjj","memoNum":2,"managers":[{"stockCode":"8801348329","stockType":"fund_manager","exchange":"fm","tickerId":262404090080,"name":"赵晓东"}]},"announcement":{"linkText":"富兰克林国海恒瑞债券型证券投资基金2021年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=712889","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6627fea5b3eb04577f3","date":"2021-09-29T16:00:00.000Z","stockId":3000000002361,"sao":"三季度，市场普遍出现回暖，但分化较大，创业板走势明显好于沪深300指数。三季度中证700上涨1.49％，沪深300指数下跌6.25％，创业板指数下跌4.74％，市场的表现上，新能源汽车产业链，煤炭等大宗商品板块表现较好，金融等蓝筹公司表现依然不佳。三季度中国经济走势平稳，出口超预期，受地产政策影响，消费和投资依然未见大的起色，国内货币政策整体偏宽松。海外市场三季度依然强势，海外经济恢复强劲。三季度，基金规模有所增增长，债券资产仍以利率债为主，久期相对较短，权益仓位变化不大，主要以低估值的蓝筹股为主。","declarationDate":"2021-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T13:08:50.621Z","fund":{"_id":3000000002361,"__csrcFundId":4464,"stockCode":"002361","shortName":"国富恒瑞债券(002361)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":2361,"masterFundFlag":1,"lastUpdated":"2026-04-30T18:26:54.264Z","status":"normal","inceptionDate":"2016-02-03T16:00:00.000Z","name":"富兰克林国海恒瑞债券型证券投资基金","exchange":"jj","followedNum":20,"fundCollectionId":4000050420000,"currency":"CNY","masterFundSho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