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长一段时间内也将是投资的重要方向之一。","declarationDate":"2024-04-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:02.021Z","fund":{"_id":3000000005041,"stockCode":"005041","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2018-01-02T16:00:00.000Z","setUpScale":248203000,"market":"a","tickerId":5041,"custody":"中国建设银行股份有限公司","name":"人保研究精选混合型证券投资基金","shortName":"人保精选混合(005041)","fundSecondLevel":"hybrid","__csrcFundId":5045,"fundStatus":"normal","lastUpdated":"2026-04-30T19:25:39.422Z","masterFundFlag":1,"inceptionDate":"2018-01-31T16:00:00.000Z","fundCollectionId":4000051410000,"currency":"CNY","masterFundShortName":"人保精选混合","pinyin":"rbyjjxhhxzqtzjj","managers":[{"stockCode":"db20888490","stockType":"fund_manager","exchange":"fm","tickerId":231826223830,"name":"吴若宗"}]},"announcement":{"linkText":"人保研究精选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?instanceid=1067846","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec84e7fea5b3eb047ba4a","date":"2023-12-30T16:00:00.000Z","stockId":3000000005041,"sao":"在2023年第四季度，虽然有一系列稳定A股市场、提振投资者信心的政策出台，但是各个主流指数均发生较大幅度的下跌。本基金的净值也伴随发生一定程度回撤。从当前市场情况来看，A股的估值和成交量均处于历史以来极低的位置，对此我们认为不应继续过度悲观，也许正是以好的价格买好公司的时候。我国经济处于转型的关键期，2023年12月政治局会议也提到了“先立后破”的说法。对于宏观经济的未来走向，我们认为应该是结构的重要性大于总量。从2023年12月份的经济数据来看，需求端已经出现积极向好的信号。一是各地新政后，地产销售逐周好转；二是港口货物吞吐量、出口运价指数进一步好转。","declarationDate":"2024-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:02.018Z","mo":"未来投资的关注方向依旧聚焦一下几个主线：一、高端制造，包括智能汽车、新能源、消费电子、军工是我国优势产业，具有较强的护城河和向外输出的能力。二、消费和医药板块，过去由于疫情疤痕效应等因素，居民的消费恢复情况没有市场预期乐观。2023年9-11月社零数据来看，需求仍然偏弱，但是有持续回暖的态势。医药行业随着集采和反腐进入常态化，行业风险已经可控，在中长期可以期待优秀公司的持续成长。三、科技成长，AI、芯片、机器人等代表新兴科技的方向，也是我们会持续关注和配置的方向。","fund":{"_id":3000000005041,"stockCode":"005041","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2018-01-02T16:00:00.000Z","setUpScale":248203000,"market":"a","tickerId":5041,"custody":"中国建设银行股份有限公司","name":"人保研究精选混合型证券投资基金","shortName":"人保精选混合(005041)","fundSecondLevel":"hybrid","__csrcFundId":5045,"fundStatus":"normal","lastUpdated":"2026-04-30T19:25:39.422Z","masterFundFlag":1,"inceptionDate":"2018-01-31T16:00:00.000Z","fundCollectionId":4000051410000,"currency":"CNY","masterFundShortName":"人保精选混合","pinyin":"rbyjjxhhxzqtzjj","managers":[{"stockCode":"db20888490","stockType":"fund_manager","exchange":"fm","tickerId":231826223830,"name":"吴若宗"}]},"announcement":{"linkText":"人保研究精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=1059119","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec84e7fea5b3eb047ba49","date":"2023-09-29T16:00:00.000Z","stockId":3000000005041,"sao":"2023年第三季度，受到国内经济复苏不及预期和离岸人民币汇率下行影响，A股市场整体呈现弱势震荡的态势，几大股指均有不同程度的下跌。在2023年上半年中强势的科技板块和人工智能等主题板块也都发生较大幅度的调整。在2023年七月政治局会议提出了“活跃资本市场”的定调后，一系列救市政策接连推出，市场走出冰点逐渐回暖。随着时间的推移，国内经济好转的迹象也在增加，人民币贬值的压力在减小，我们对经济的复苏仍然持乐观态度。行业配置方面，今年医药和军工两个行业受到政策影响较大，部分订单和商业活动有所延迟，因此2023年三季度适当降低了这两个行业的权重。基于对于经济的乐观判断，增加了化工、汽车、机械的行业配置，未来增加逆周期行业选股，前期调整较为充分，即将进入复苏反转的行业和个股进行重点的挖掘。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:02.015Z","fund":{"_id":3000000005041,"stockCode":"005041","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2018-01-02T16:00:00.000Z","setUpScale":248203000,"market":"a","tickerId":5041,"custody":"中国建设银行股份有限公司","name":"人保研究精选混合型证券投资基金","shortName":"人保精选混合(005041)","fundSecondLevel":"hybrid","__csrcFundId":5045,"fundStatus":"normal","lastUpdated":"2026-04-30T19:25:39.422Z","masterFundFlag":1,"inceptionDate":"2018-01-31T16:00:00.000Z","fundCollectionId":4000051410000,"currency":"CNY","masterFundShortName":"人保精选混合","pinyin":"rbyjjxhhxzqtzjj","managers":[{"stockCode":"db20888490","stockType":"fund_manager","exchange":"fm","tickerId":231826223830,"name":"吴若宗"}]},"announcement":{"linkText":"人保研究精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=991726","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec84e7fea5b3eb047ba48","date":"2023-06-29T16:00:00.000Z","stockId":3000000005041,"sao":"回顾23年上半年，A股市场行情呈现了非常两级分化的状态。一方面，由ChatGPT、AIGC等题材引领的计算机、电子、传媒板块获得非常显著的超额收益；另一方面，和经济复苏相关板块受制于“强预期、弱现实”的预期差表现较为一般。报告期内，本基金在均衡配置的基础上，适当超配了医药、计算机、军工行业，并且取得了较为平稳的受益。","declarationDate":"2023-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:02.012Z","mo":"展望2023年下半年，我们认为居民的潜在消费能力仍有待挖掘，消费信心修复需要一定时间，因此对于估值较低的顺周期板块仍然值得给予足够的重视。未来本基金将持续通过自下而上精选个股的投资思路，积极挖掘潜在投资机会，力求实现净值稳健增长。","fund":{"_id":3000000005041,"stockCode":"005041","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2018-01-02T16:00:00.000Z","setUpScale":248203000,"market":"a","tickerId":5041,"custody":"中国建设银行股份有限公司","name":"人保研究精选混合型证券投资基金","shortName":"人保精选混合(005041)","fundSecondLevel":"hybrid","__csrcFundId":5045,"fundStatus":"normal","la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对于未来的经济形势，我们认为还是在复苏和稳步增长的主线上。行业配置方面，以数字经济、人工智能、高端软、硬件国产化替代为核心的科技板块和代表经济复苏、居民出行娱乐常态化的消费板块仍然是我们主要配置的方向。另外在军工、新能源、新材料等方向也积极寻找安全边际高，有成长性个股进行投资。目前组合投资风格偏向科技和成长，投资策略以业绩增长和高经营质量为核心选股标准，通过定价和估值性价比来控制风险和回撤。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:02.010Z","fund":{"_id":3000000005041,"stockCode":"005041","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2018-01-02T16:00:00.000Z","setUpScale":248203000,"market":"a","tickerId":5041,"custody":"中国建设银行股份有限公司","name":"人保研究精选混合型证券投资基金","shortName":"人保精选混合(005041)","fundSecondLevel":"hybrid","__csrcFundId":5045,"fundStatus":"normal","lastUpdated":"2026-04-30T19:25:39.422Z","masterFundFlag":1,"inceptionDate":"2018-01-31T16:00:00.000Z","fundCollectionId":4000051410000,"currency":"CNY","masterFundShortName":"人保精选混合","pinyin":"rbyjjxhhxzqtzjj","managers":[{"stockCode":"db20888490","stockType":"fund_manager","exchange":"fm","tickerId":231826223830,"name":"吴若宗"}]},"announcement":{"linkText":"人保研究精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=882784","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec84e7fea5b3eb047ba46","date":"2022-12-30T16:00:00.000Z","stockId":3000000005041,"sao":"回顾2022年下半年，经济运行最为主要的转折点出现在四季度国内疫情防控政策的转变，市场的核心矛盾从悲观的衰退预期转向经济进入良性循环后应该如何增长。基于以上市场重心的变化，本基金在行业均衡配置的基础上，重点增配了医药、计算机、军工以及经济复苏相关行业，并对新能源、消费行业的持仓进行结构调整，投资组合中个股集中度也有所提高。投资策略上：1、选取具有中长期趋势性行业做为主赛道，通过对于行业趋势和优质个股的深度跟踪和研究来捕捉投资机会，以实现净值的稳定增长。2、在选股层面上，坚持逆向研究，重点关注低风险、低预期但是管理层认真经营，基本面向上改善的公司个股。3、通过对不同类型、成长阶段公司特征的精细把握，形成相应定价机制，来实现控制净值回撤。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:02.007Z","mo":"当前时点，国内经济处于下行末期、复苏前夜，反观海外经济正逐渐进入衰退阶段，国内外经济运行阶段仍然呈现出错位的形态。而在投资者对于经济复苏普遍看好的情况下，我们也需要冷静的意识到，资金层面相较与前几年可能会出现边际收紧。对于A股市场的判断，我们更倾向于板块之间的分化与再平衡，而非趋势性的上涨或下跌。展望2023年，在经济重启的后疫情时代，管理人在投资上需要做到“去伪存真”，重点投资方向聚焦在扩大内需、制造升级、能源转型、国防与安全的主线上，主要行业包括：1、医药行业中的消费医疗、医疗服务、药品耗材、血制品疫苗等；2、消费品行业中的新兴消费品和业态，如连锁服务、速冻食品、宠物食品、医美化妆品等；3、计算机行业中的信创软/硬件、工业软件、网络安全、电力互联网等；4、军工行业中的电子化、信息化、新型战斗机制造等；5、其他诸如高端数控机床及耗材、风光电和储能设备、化工新材料等。目前组合投资风格偏向周期和成长，大小盘配置比例较为平衡。未来将坚持贴合行业发展与政策支持的投资方向，坚持以高性价比、高质量、低风险、真增长的个选股策略来构建组合，力求产品净值的可持续性增长。","fund":{"_id":3000000005041,"stockCode":"005041","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2018-01-02T16:00:00.000Z","setUpScale":248203000,"market":"a","tickerId":5041,"custody":"中国建设银行股份有限公司","name":"人保研究精选混合型证券投资基金","shortName":"人保精选混合(005041)","fundSecondLevel":"hybrid","__csrcFundId":5045,"fundStatus":"normal","lastUpdated":"2026-04-30T19:25:39.422Z","masterFundFlag":1,"inceptionDate":"2018-01-31T16:00:00.000Z","fundCollectionId":4000051410000,"currency":"CNY","masterFundShortName":"人保精选混合","pinyin":"rbyjjxhhxzqtzjj","managers":[{"stockCode":"db20888490","stockType":"fund_manager","exchange":"fm","tickerId":231826223830,"name":"吴若宗"}]},"announcement":{"linkText":"人保研究精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=865714","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec84e7fea5b3eb047ba45","date":"2022-09-29T16:00:00.000Z","stockId":3000000005041,"sao":"报告期内，本基金继续坚持：均衡配置的思路下，在泛科技领域内追求alpha。在三季度市场较大幅度下跌的情况下，降低了组合的锐度，增加了价值风格的配置。在选股层面，提高了对股票收益风险比的关注度，在重点个股的选择上更加注重绝对收益的思路，在深度研究的基础上选择更具有一定安全边际的个股。三季度市场经历了较大幅度的下跌, 展望四季度，我们认为权益市场挑战与机遇并存。一方面，股债收益差、沪深300的估值分位数已经回到历史极低水平，同时全年来看国内经济仍有增长，经济基本面对市场存在支撑；但同时外部因素：美联储加息，俄乌冲突等或成为较大的不确定因素。方向上，高景气的成长风格占优的概率仍然较大：新能源领域中未来两年景气度仍然较高的储能板块和光伏板块，地产产业链在政策边际利好下具有一定确定性，军工板块兼具高景气和受宏观经济影响相对较小的特征。","declarationDate":"2022-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:02.005Z","fund":{"_id":3000000005041,"stockCode":"005041","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2018-01-02T16:00:00.000Z","setUpScale":248203000,"market":"a","tickerId":5041,"custody":"中国建设银行股份有限公司","name":"人保研究精选混合型证券投资基金","shortName":"人保精选混合(005041)","fundSecondLevel":"hybrid","__csrcFundId":5045,"fundStatus":"normal","lastUpdated":"2026-04-30T19:25:39.422Z","masterFundFlag":1,"inceptionDate":"2018-01-31T16:00:00.000Z","fundCollectionId":4000051410000,"currency":"CNY","masterFundShortName":"人保精选混合","pinyin":"rbyjjxhhxzqtzjj","managers":[{"stockCode":"db20888490","stockType":"fund_manager","exchange":"fm","tickerId":231826223830,"name":"吴若宗"}]},"announcement":{"linkText":"人保研究精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=801465","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec84e7fea5b3eb047ba44","date":"2022-06-29T16:00:00.000Z","stockId":3000000005041,"sao":"回顾2022年上半年，受全球通胀走高、海外不确定性事件持续发酵以及国内疫情反复等多重因素影响，市场1-4月的大幅回调。经历5月、6月的财政、货币政策的放松以及企业盈利修复，市场快速反弹。从行情表现来看，上半年市场结构性行情明显，通胀主线、稳经济主线以及成长主线均有表现。本基金上半年采取了较为稳健的操作策略，报告期内维持了相对较高的股票仓位，持仓结构较为均衡，结合自上而下的板块选择以及自下而上的精选个股进行配置。具体操作上，本基金采取较为左侧的投资思路，在控制回撤的基础上，自上而下精选中长期趋势向上的行业以及景气度较高的行业，均衡配置成长板块与经济复苏板块。在选股层面上，本基金同时考虑行业壁垒、公司治理、业务竞争优势等因素，结合估值与公司中长期成长性，精选个股配置。","declarationDate":"2022-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:02.002Z","mo":"展望后续，分行业来看，以新能源为主的成长板块中长期保持较高景气度，但需要紧密跟踪行业的边际变化。消费、出行产业链经过一轮快速的修复后估值相对合理，后续需要跟踪经济复苏带来的业绩改善。医药板块估值相对较低，后续政策有望边际变化，具备一定配置价值。整体来看，国内经济仍然处在复苏的进程之中，流动性保持稳定，但是随着经济的复苏加快，国内通胀压力可能抬头，需要持续关注政策力度在经济复苏后的收紧程度。海外层面，需要跟踪美国通胀拐点是否出现，以及其对美联储货币政策的影响。","fund":{"_id":3000000005041,"stockCode":"005041","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2018-01-02T16:00:00.000Z","setUpScale":248203000,"market":"a","tickerId":5041,"custody":"中国建设银行股份有限公司","name":"人保研究精选混合型证券投资基金","shortName":"人保精选混合(005041)","fundSecondLevel":"hybrid","__csrcFundId":5045,"fundStatus":"normal","lastUpdated":"2026-04-30T19:25:39.422Z","masterFundFlag":1,"inceptionDate":"2018-01-31T16:00:00.000Z","fundCollectionId":4000051410000,"currency":"CNY","masterFundShortName":"人保精选混合","pinyin":"rbyjjxhhxzqtzjj","managers":[{"stockCode":"db20888490","stockType":"fund_manager","exchange":"fm","tickerId":231826223830,"name":"吴若宗"}]},"announcement":{"linkText":"人保研究精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=780314","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec84e7fea5b3eb047ba43","date":"2022-03-30T16:00:00.000Z","stockId":3000000005041,"sao":"2022年一季度，国际方面，国际局势不确定性持续，全球流动性逐步开始收缩，美国加息周期开启。国内方面，国内局部疫情严重，稳经济政策持续推出。A股市场一季度呈现震荡下行趋势，受油价以及大宗价格持续上涨影响，中游板块短期业绩承压。由于流动性与风险偏好影响，2022年一季度周期等稳经济板块表现领先，成长板块表现较差。本基金2022年一季度采取了较为稳健的操作策略，报告期内维持了相对较高的股票仓位，持仓结构较为均衡，结合自上而下的板块选择以及自下而上的精选个股进行配置。具体操作上，本基金在采取较为左侧的投资思路，在控制回撤的基础上，自上而下精选中长期趋势向上的行业以及景气度较高的行业，适度配置稳经济板块。在选股层面上，同时考虑行业壁垒、公司治理、业务竞争优势等因素，结合估值与公司中长期成长性，精选个股配置。总体上来说，本基金2021年一季度收益较为稳健。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:02.000Z","fund":{"_id":3000000005041,"stockCode":"005041","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2018-01-02T16:00:00.000Z","setUpScale":248203000,"market":"a","tickerId":5041,"custody":"中国建设银行股份有限公司","name":"人保研究精选混合型证券投资基金","shortName":"人保精选混合(005041)","fundSecondLevel":"hybrid","__csrcFundId":5045,"fundStatus":"normal","lastUpdated":"2026-04-30T19:25:39.422Z","masterFundFlag":1,"inceptionDate":"2018-01-31T16:00:00.000Z","fundCollectionId":4000051410000,"currency":"CNY","masterFundShortName":"人保精选混合","pinyin":"rbyjjxhhxzqtzjj","managers":[{"stockCode":"db20888490","stockType":"fund_manager","exchange":"fm","tickerId":231826223830,"name":"吴若宗"}]},"announcement":{"linkText":"人保研究精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=730145","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec84d7fea5b3eb047ba42","date":"2021-12-30T16:00:00.000Z","stockId":3000000005041,"sao":"2021年全球市场的关注重点在疫情与经济恢复的阶段性变化，国内市场先后经历流动性预期拐点，经济基本面拐点与财政政策逐步推进。由于市场主要关注矛盾点的变化，2021年度行情风格切换较明显，周期、成长股表现领先，金融、消费表现相对较弱。本基金2021年采取了较为积极的操作策略，报告期内维持了相对较高的股票仓位，持仓结构较为均衡，结合自上而下的板块选择以及自下而上的精选个股进行配置。具体操作上，本基金在采取较为左侧的投资思路，在控制回撤的基础上，自上而下精选中长期趋势向上的行业以及景气度较高的新兴行业，同时考虑行业壁垒、公司治理、业务竞争优势等因素，优选具备兑现行业景气确定性的龙头公司和高弹性个股。2021年本基金不足之处在于，未参与周期板块的投资，并且未在新能源板块进行行业超配，因此未取得相关板块的超额收益，后续应加速行业学习，弥补投资短板。总体上来说，本基金2021年组合收益较为稳健，相对于业绩基准及核心市场指数获得了一定的超额回报。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:17:01.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