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1.89%。二季度初，美国对等关税政策一度让市场对外需的担忧大幅上升，十年国债收益率又一度下行至1.60%附近，随着后续地缘政治风波的缓和，债券收益率缓慢上行，下半年区间震荡波幅收窄。全年来看，1年国债收益率上行26bp至1.34%，10年国债收益率上行18bp至1.85%。权益市场方面，风险偏好全面回暖，结构极致分化，以创业板、科创板为代表的成长板块领涨，AI算力、有色金属成为贯穿全年的主线，大消费及防御性板块表现相对弱势，上证指数年度上涨18.4%，上证50年度上涨12.9%，创业板指数年度上涨49.6%。　　报告期内，债券方面，我们以持有短久期高等级信用债获取稳健票息收益为主要策略，仅在债券市场出现比较明显的错误定价时参与了长久期利率债的交易机会，股票方面，我们持续提升组合的分散度和均衡度，适当减配了水电及医药标的，并增配了泛消费标的以及部分商业模式改善、有估值提升潜力的公用事业标的。转债方面，整体降低了仓位，少量挑选了部分有安全边际、可能出现向好的基本面变化的转债进行增配。","lastUpdated":"2026-04-02T12:46:37.797Z","mo":"我们认为当前投资者信心及风险偏好从前期的缓慢修复已经过渡到加速提升的进程，但基本面数据改善的进程及幅度尚未与之匹配。未来消费信心(表现形式主要是物价抬升)能否持续提升是关键。我们理解，内需在中央经济工作会议、“十五五”规划中均被置于突出重要的位置，反内卷最终落脚点也在于通过缓解社会各主体的过度竞争，释放企业创新与居民消费的双重活力，进而夯实内需增长的内生动力。权益市场持续、健康的向上行情需要实体经济强有力的佐证。随着通缩预期缓解、社会财富将进一步向权益市场再平衡，债券收益率中长期可能会迎来一个缓慢的、震荡回升的过程。下阶段，债券方面，我们仍将以持有短久期高等级信用债获取稳健票息收益为主要策略，股票方面，在目前整体权益估值中枢已明显抬升的背景下，我们将更加注重标的的安全边际和组合的再平衡，将依循“长期竞争格局改善、公司治理向好、股东回报有提升潜力”的方向寻找更多可投标的；转债方面，我们仍将谨慎参与，继续持有或增配安全边际较高，基本面有向好迹象的标的。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=1460690","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af71","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-27T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济延续底部企稳态势，三季度，制造业PMI上升0.1pct至49.8%，非制造业PMI下降0.5pct至50.0%。政策方面，7月，中央财经委第六次会议强调，“依法依规治理企业低价无序竞争，引导企业提升产品品质，推动落后产能有序退出”，各行业出台实施了一系列反内卷政策举措。　　报告期内，资金面整体宽松，债券收益率陡峭化上行，主要源于资本市场风险偏好的持续抬升以及监管政策（增值税新规及基金费率新规）的扰动，三季度，1年国债收益率上行2.5bp至1.37%，10年国债收益率上行13.6bp至1.78%。权益市场方面，三季度表现强势，上证指数上涨12.73%。一方面，多项反内卷相关政策出台，旨在治理低价无序竞争、推动价格企稳，另一方面，以 AI 为代表的科技产业催化层出不穷，中美科技巨头接连提高资本开支指引，产业景气度持续抬升，算力、芯片等科技成长相关行业成为市场热点，此外，8月美联储重启降息周期，联邦基金目标利率下调25bp至4.0%-4.25%，也对风险偏好及大宗商品的中枢抬升有推动作用。分行业看，有色、通信、电子、电力设备等行业涨幅居前，红利板块相对弱势。　　报告期内，债券方面，我们仍以持有短久期高等级信用债获取稳健票息收益为主要策略；股票方面，我们仍坚持长期投资，均衡配置估值合理、对宏观经济敏感性弱、国家政策支持的公用事业和医药行业标的，部分持仓标的随市场风格偏好变化表现较弱，但长期基本面稳定向好，其安全边际及长期回报率反而得以提升，对部分估值接近合理上限的标的进行了动态调整。转债方面，仍主要配置部分估值安全边际较高、行业或标的有边际向好预期的转债。　　我们认为当前投资者信心及风险偏好已经处于较高的水平，但基本面数据尚未见明显改善。展望债市，经济内生动能修复仍有待提振，货币政策环境仍需要保持支持性，债券收益率中枢持续抬升概率暂时不高，但随着时间推移，通缩缓解、社会财富将进一步向资本市场再平衡，债券收益率中长期可能会迎来一个缓慢的、震荡回升的过程。对权益市场来说，新一轮指数级别的向上行情需要基本面数据的支撑。下阶段，债券方面，我们仍将以持有短久期高等级信用债获取稳健票息收益为主要策略，股票方面，在目前整体权益估值中枢已明显抬升的市场环境下，我们将保持稳健的长期风格，更加注重标的的安全边际同时优化组合配置的均衡度，转债方面，我们将逐步增配估值安全边际高，正股有盈利改善预期的优质标的。","lastUpdated":"2026-03-09T13:24:09.118Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健混合型证券投资基金2025年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1375870","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af70","date":"2025-06-29T16:00:00.000Z","stockId":3000000006700,"sao":"2025年上半年，我国实现实际GDP同比增速5.3%，为实现全年5%的目标打下良好基础。受美国关税政策影响，二季度经济表现稍弱于一季度。4月，中国PMI快速下降至49%，之后随着中美开启经贸谈判，PMI逐步回升至6月的49.7%。内需方面，投资端，固定资产投资累计同比增长2.8%，处于近三年低位。消费端，“国补”政策支持下，上半年社零累计同比增长5%，明显高于2024年同期的3.7%；不过，受禁酒令、“国补换挡”等影响，6月社零同比回落至4.8%，为3月以来最低点。内生动能回温趋势仍需验证。　　政策面方面，一季度，央行延续“适度宽松”货币政策基调，但更侧重“防空转”“稳汇率”“稳利率”。二季度，关税扰动进行时，货币政策转向“稳增长”目标：5月央行降低OMO政策利率10bp，降低存款准备金率0.5个百分点。伴随6月大行注资落地，二季度流动性环境较一季度更加友好。　　海外方面，上半年美国经济边际回落、韧性仍在，美联储降息预期相对稳定，但美元走势却与美国经济及美联储降息出现脱钩现象。报告期内，美元指数下行10.7%至96.77，全球去美元化进程加速，COMEX黄金期货于4月快速冲破3000美元大关，并在3300美元附近震荡。　　报告期内，债券收益率先上后下，主要驱动因素是资金面，一季度资金面异常紧张，二季度逐步转松。整个上半年，1年国债收益率上行26bp至1.34%，10年国债收益率下行3bp至1.65%。权益市场方面，一方面，Deep Seek大模型的出世及一揽子政策持续发力有利于投资者风险偏好的好转，另一方面，国家队积极给市场注入流动性，维护资本市场平稳运行，上半年权益市场偏强运行，上证指数上涨2.76%。 　　　　报告期内，债券方面，收益率低位震荡，我们以持有短久期高等级信用债获取稳健票息收益为主要策略；股票方面，我们仍坚持长期投资价值投资，主要配置估值合理、对宏观经济敏感性弱、国家政策支持的公用事业和医药行业标的；转债方面，我们挑选了部分估值合理、行业或标的可能出现向好的边际变化的转债进行增配。","declarationDate":"2025-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.116Z","mo":"展望未来，宏观政策保持积极、流动性合理充裕，投资者信心及风险偏好仍有进一步企稳回升的基础。近期政策开始综合整治“内卷式”竞争，我们认为对中长期经济可持续发展意义重大，有利于通胀的修复，重新建立“价格-经济”良性循环机制。对债券市场来说，虽然“反内卷”政策使得通胀有向上抬头的预期，但经济内生动能修复仍有待提振是现实，短期债券收益率持续向上大幅上行为时尚早，但中期有缓步向上回归的压力。股票方面，我们将继续依据上市公司的半年报情况，审视我们的组合持仓标的，并适当提高组合的均衡度。转债方面，目前转债估值偏高，我们将耐心等待加仓机会，更加广泛的寻找可投转债优质标的。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=1346481","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af6f","date":"2025-03-30T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，经济总体出现企稳回升的迹象， 3月EPMI（战略新兴产业PMI）大幅回升至59.6%，较去年12月大幅上升9.3pct，创25个月以来的新高，带动3月制造业PMI较去年末回升0.4pct至50.5%，新质生产力对经济增长信心的激发作用可窥一斑。政策方面，政府工作报告将经济增速目标定在5%左右、赤字率按4%安排、新增4.4万亿专项债及1.8万亿特别国债，财政政策发力加码，并留有充足的储备工具应对外部不利影响。　　报告期内，货币政策整体维持宽松基调，但狭义流动性没有显著宽松，资金中枢小幅上移。债券方面，在资金面收敛及基本面数据企稳的压力下，债券收益率回吐了大部分前期涨幅，一季度，10年国债收益率最高上行22bp至1.89%，1年国债最高上行50bp至1.58%。权益市场方面，Deep Seek大模型的出世及一揽子政策持续发力明显提振了投资者风险偏好，但基本面数据的改善有待持续验证，一季度上证指数小幅下跌0.48%。　　报告期内，债券方面，我们依旧保持较短的组合久期，以获取稳定的票息收益；股票方面，我们依旧长期配置估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业标的和部分优质医药标的，增配了了部分估值合理的制造业标的，整体仓位有所提升；转债方面，一季度我们保持了适当配置。　　4月开始，美国宣布新一轮加征关税措施，其范围之广、力度之大均超市场预期。外部冲击对我国宏观经济中出口部分的影响，进而通过就业市场传导至居民部门，对宏观经济及进一步通缩的冲击需要持续关注，美国政策的反复多变，各国的应对措施及中国的沉着应对等前所未有之复杂局面均对宏观研判、中观行业及微观企业中长期价值判断构成新课题。债券方面，我们认为，贸易摩擦的持续升级使得经济向下波动压力明显加大，央行着力于政策整体的宏观稳增长目标更需要降准降息等一直引而不发的政策尽快落地，我们将持有短久期债券以获取票息收益为目标，适当参与长端债券的波段操作。股票方面，我们认为在市场流动性充裕、长线资金积极入市的背景下，市场冲破前期低点的概率不大，但由于外部环境波动较大，尾部风险可能有所抬头，我们对权益资产保持谨慎乐观，未来将仔细审视、跟踪持仓标的情况，观察本次贸易冲击的影响，重点配置盈利稳定、估值合理、股东回报积极的优质个股。转债方面，我们将耐心等待加仓机会，更加广泛的寻找可投转债优质标的。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.113Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健混合型证券投资基金2025年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1272580","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af6e","date":"2024-12-30T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，外部压力加大，内生需求仍偏弱，制造业PMI全年有7个月运行在50%荣枯线以下，核心CPI从23年年末的0.6%下降至24年年末的0.3%，不过在一揽子增量政策出台的利好下，去年四季度至今，经济出现企稳回升的迹象，可持续性尚待观察。政策方面，扩张政策持续加码，12月政治局会议通稿中提及“更加积极的财政政策和适度宽松的货币政策” “充实完善政策工具箱，加强超常规逆周期调节”“要大力提振消费、提高投资效益，全方位扩大国内需求”等，市场对25年财政及货币政策力度的期待明显提升。　　报告期内，货币政策持续宽松，为股债两个市场均营造了充裕的流动性环境。债券方面，宽货币的现实与持续宽货币的预期始终同在，24年全年OMO政策利率降低30bp，年末中央政治局会议提及要实施“适度宽松的货币政策”，市场对25年宽货币预期提前抢跑。全年，10年国债收益率下行88bp至1.68%，1年国债下行100bp至1.08%。权益市场方面，前三季度表现较低迷，但四季度在一揽子政策出台的背景下，风险偏好显著好转，全年红利与新兴产业的投资机会并存，上证指数全年上涨12.7%。 　　报告期内，债券方面，我们年初配置了较多1年附近的信用债，整体维持较短的久期。股票方面，我们主要配置估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业标的和部分医药行业优质标的，三季度末增持了部分消费标的并适时止盈；转债方面，我们在三季度增配了较多估值合理、性价比高的平衡型转债。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.111Z","mo":"展望未来，AI大模型的出世及一揽子政策持续发力见效有助于提升国内投资者信心，流动性环境仍有望保持充裕，我们认为投资者风险偏好有进一步企稳回升的基础。债券方面，我们认为绝对收益水平较低，反映了较多的政策宽松预期，性价比有所下降。股票方面，我们认为宏观政策协同发力，流动性宽松，产业周期有望见底回升，性价比较好。我们将根据上市公司财报情况，审视组合持仓标的，谨慎乐观的参与权益市场的投资机会，整体组合配置会更趋于均衡。转债方面，当前性价比有所降低，我们将耐心等待加仓机会，兼顾企业盈利改善之后或有的正股弹性，更加广泛的寻找可转债优质标的。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健混合型证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1255451","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af6d","date":"2024-09-29T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，宏观经济仍处于底部整固阶段，制造业PMI从6月的49.5%下降至8月的49.1%，9月受季节性影响回升至49.8%。地产方面，30大中城市销售面积继续回落，环比下降20.6%，地产部门对宏观经济的扰动仍然存在。政策方面，增量政策组合拳持续加力，7月货币政策先行发力，降低OMO政策利率10bp并带动LPR同步下降。9月末以来，一揽子增量政策持续推出。货币政策方面，除了常规的降息、降准、房地产金融政策优化调整之外，最大亮点为创设两个针对权益市场的结构性货币工具。财政政策方面，发力方向主要聚焦于化债、补充银行资本金以及支持地产止跌回稳。海外市场方面，9月美联储降息50bp，点阵图指引终端利率将降至3%左右，美元降息周期正式开启。　　报告期内，市场走势较为波折，9月末在较大力度的政策指引下，市场风险偏好明显回升。债券方面，7月受到降息提振，收益率全面下行，8月央行买短卖长调节收益率曲线，收益率转为上行，9月上旬，国内降息预期再次升温，债市表现较强，下旬受到市场风险偏好抬升的影响，收益率较快上行。总体来说，三季度债券收益率曲线延续陡峭化下行的趋势，10年国债收益率下行6bp至2.15%，1年国债收益率下行17bp至1.37%。权益市场方面，7-8月市场表现相对低迷，上证指数回落4.26%，9月受到政策提振，上证指数大幅回升17.39%。　　报告期内，债券方面，我们以持有短久期高等级信用债获取稳健票息收益为主要策略；股票方面，我们主要配置估值合理、基本面良好、国家政策支持的公用事业标的，以及公司治理良好、盈利稳定、产品具备特色的部分医药优质标的，具体持仓结构根据标的性价比有所调整；转债方面，我们认为经过连续调整后具备较好的性价比，整体转债仓位大幅提升。　　展望未来，宏观政策保持积极、流动性合理充裕、经济发展质量进一步提升，投资者信心及风险偏好有望企稳回升。债券方面，我们认为性价比一般，继续以持有短久期债券获取稳定票息为主要策略。股票方面，我们认为性价比较好，积极政策的出台有助于上市公司业绩的企稳回升和风险偏好的提高。我们将继续依据上市公司的财报和公司治理情况，不断审视投资组合，谨慎乐观的参与权益市场的投资机会。转债方面 ，我们认为性价比好，将结合债券和权益两个市场，优选标的。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.108Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=1180137","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af6c","date":"2024-06-29T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济仍在处在蓄积回升力量的阶段，制造业PMI从去年年末的49%回升至今年6月末的49.5%。二季度以来，经济结构特征出现一定变化，4-6月PMI生产分项下降2.3pct至50.6%，新订单分项下降1.6pct至49.5%，前期生产端持续强于需求端的格局发生变化，或指向近期产能去化节奏加快，7月政治局会议也提到“要强化市场优胜劣汰机制，畅通落后低效产能退出渠道”，未来我们将密切关注落后产能出清节奏。地产方面，5月以来，房地产政策进一步优化，央行明确取消全国层面房贷利率下限、下调房贷首付比例和公积金贷款利率，推出保障性住房再贷款，核心一二线城市相继跟进，地产数据有所起色但仍在较低水位运行。政策方面，货币政策维持稳健宽松基调，银行间流动性持续稳定，财政政策总体积极但发行与使用进度偏缓。海外市场方面，二季度美国经济数据持续回落，7月美国制造业PMI与非农数据出现较大幅度的回踩引发了市场对全球经济硬着陆的担忧，同时日元加息加大了全球市场的波动。　　报告期内，一方面，政府债券发行节奏较缓、债券供需错位，另一方面，银行存款利率下行节奏较快，市场对政策利率下调的预期也始终存在，债券收益率曲线陡峭化下行。上半年10年国债收益率共下行35bp至2.21%，1年国债收益率下行55bp至1.53%。权益市场行情较为波折，上半年上证指数回落0.25%。　　报告期内，债券方面，我们以持有中短久期高等级信用债获取稳健票息收益为主要策略；股票方面，我们主要配置估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业标的，以及部分基本面稳健、估值合理、产品具备特色的医药标的，少量配置了消费品、军工和建筑等行业标的，整体权益仓位我们在季度间有所调整；转债方面，我们一季度增配了部分性价比较好的银行转债。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.106Z","mo":"展望未来，宏观政策保持积极、流动性合理充裕、经济发展质量进一步提升，投资者信心及风险偏好有望企稳回升。债券方面，我们维持债券市场区间震荡的观点，继续以持有获取稳定票息为主要策略，择机参与长久期债券的投资机会。股票方面，我们认为具备较优的性价比，将继续依据上市公司的财报和公司治理情况，不断审视投资组合，谨慎乐观的参与权益市场的投资机会。转债方面，我们依旧看重估值的合理性，不断寻找性价比较优的投资机会。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=1149962","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af6b","date":"2024-03-30T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济平稳运行，制造业PMI从去年12月的49%回升至3月的50.8%，其中外需贡献较为显著，新出口订单PMI分项从45.8%上升至51.3%，1-3月我国出口金额累计同比+1.5%，相比去年末的-4.7%显著上升，出口成为一季度经济的亮点之一。地产方面，1-3月地产销售仍未见明显起色。政策端，一季度两会政策落地，财政扩张仍在加强，今年预计增发1万亿超长期特别国债用于国家重大战略实施和重点领域安全能力建设；货币政策维持稳健宽松基调，1月降准50bp，2月调降5年期LPR25bp。海外市场方面，美国经济和通胀数据有所回弹，美联储年内降息节奏不确定性增加。　　报告期内，一方面，政府债券发行较缓、债券配置盘配置需求较大，债券供需错位，另一方面，市场对货币政策的宽松预期仍在，一季度债券收益率较快下行，10年国债收益率下行26bp至2.29%，1年国债收益率下行36bp至1.72%。权益市场信心逐步恢复，一季度上证指数回升2.23%。 　　债券方面，我们以持有1年以内的AAA国企信用债为主要策略，力争获取稳健的票息收益；股票方面，我们仍坚持长期投资价值投资，主要配置估值合理、对宏观经济敏感性弱、国家政策支持的公用事业和医药行业标的。转债方面，我们持有的部分转债因为强赎或到期的原因，整体仓位有所降低,适当配置了部分平衡型的银行转债。　　展望未来，积极的货币政策和财政政策相继落地，流动性保持合理充裕，宏观经济有望企稳回升。债券市场方面，我们认为10年国债将在新的中枢区间运行，短期受困于地产链磨底融资结构差，利率运行在中枢下方，中期有回归压力，组合继续以持有高评级信用债以获取稳健票息收入为基础策略，适时考虑久期的增减。权益市场方面，我们认为今年权益资产性价比较优，较多行业龙头的基本面有望改善，估值水平处于合理位置，股东回报方面有望改进。我们将择机选择行业基本面稳健，估值合理，公司治理结构完善，注重股东回报的标的。未来我们将持续关注宏观和行业高频数据的变化，严格审视上市公司的年报和一季报，谨慎乐观的参与权益市场和转债市场的投资机会。","declarationDate":"2024-04-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.103Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=1072710","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af6a","date":"2023-12-30T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，经历了一季度的经济脉冲式修复后，全年国内宏观经济呈现弱复苏态势。一季度，国内经济先经历了疫后的快速修复，二季度随着经济脉冲动能释放，经济有所放缓，三季度开始，稳增长政策逐步发力，经济小幅企稳好转，四季度新一轮化债约束地方政府支出、海外制造业有所回踩，经济再度逐月放缓。地产销售投资全年低位徘徊。政策方面，从6月末央行降息开始，国内扩张政策明显增多，地产政策持续优化、活跃资本市场、一揽子化债、国债增发等一系列政策相继落地，中央财政加码的信号更加明晰。海外市场方面，前三季度美国经济和通胀维持韧性，美联储表态鹰派；四季度开始，美国通胀压力有所缓解，在此背景下，美联储在12月议息会议释放了加息结束的信号，海外流动性环境边际缓和。　　报告期内，随着经济修复力度偏弱，政策利率不断下调，债券收益率平坦化下行，10年国债收益率共下行28bp至2.55%；资金面宽松程度相对有限，1年国债收益率下行幅度较小，全年下行2bp至2.08%。受经济复苏动能转弱的影响，股票市场表现相对疲软，全年万得全A指数下跌5.2%。 　　债券方面，我们上半年止盈了部分中久期的信用债，下半年以持有短久期高等级信用债获取稳健票息收益为主要策略；股票方面，我们仍主要配置估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业标的，适当增配了部分医药和消费行业优质标的。转债方面，我们长期配置部分估值合理、性价比高的转债，在四季度增配了银行转债。","declarationDate":"2024-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.101Z","mo":"展望未来，宏观政策更为积极、流动性保持合理充裕、高质量发展定力仍在，投资者信心及风险偏好有进一步企稳回升的基础。债券市场方面，在房地产市场供求关系发生重大变化、地方政府债务无序扩张时代结束、经济转型升级寻找新动能的新形势下，继续以持有高评级信用债以获取稳健票息仍是基础策略，适时考虑久期的增减。权益市场方面，我们将审视更多的行业，主要选择那些行业基本面稳健，自身估值合理，治理结构完善，注重股东回报的标的。未来我们将持续关注宏观和行业高频数据的变化，谨慎乐观的参与权益市场的投资机会。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=1056199","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af69","date":"2023-09-29T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济呈现弱复苏态势，房地产和消费行业表现较差，成为拖累经济的主要因素，但经济存在一定的内生韧性，高端制造业在政策鼓励下体现出较强竞争力，经济结构的转型继续推进。大宗商品方面，以原油为代表的上游资源品价格重新上行，海外市场通胀压力仍然较大。　　报告期内，受困于汇率压力，债券收益率整体有所上行。 10年期国债收益率上行4bp左右，1年期国债收益率上行30bp左右，债市陷入调整。 　　报告期内，债券市场方面，我们以持有1年以内的中短久期高等级信用债为主，力争获取稳健的票息收益。股票市场方面，我们较多的配置了估值合理、分红较优、基本面长期稳健的国企标的，适当增配了部分受益于技术进步的医药行业。转债市场方面，我们少量持有部分估值合理正股确定性高的转债。　　展望后市，我们认为国内经济企稳复苏的概率较大，政策态度积极友好，流动性仍然保持充裕，投资者对经济的信心和风险偏好有望慢慢回升。债券市场方面，我们认为短期面临经济复苏和政策发力的压力，但在房地产供需关系出现巨大变化的背景下，利率调整的空间相对有限，持有获取票息仍是不错的投资策略。权益市场方面，随着宏观经济的企稳回升，部分行业的盈利将率先改善，支持权益市场发展的政策密切出台，整体来看，权益性价比处于较优区间，我们将更加积极的参与权益市场的运作，同时择机参与一级市场的新股投资。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.098Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=988747","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af68","date":"2023-06-29T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济呈现弱复苏态势，以消费为代表的强宏观行业在一季度出现了部分的回补，二季度有所回落，房地产相关行业表现较差，成为拖累经济的主要因素。但经济存在一定的内生韧性，高端制造业发展在政策鼓励下体现出较强竞争力，经济结构的转型继续推进。大宗商品方面，以原油为代表的上游资源品价格均有所回调，有利于缓解制造业企业的成本压力。海外市场方面，美国通胀数据存在一定韧性，市场预期较为反复。　　报告期内，在流动性宽松的背景下，债券收益率整体均有所下行。 10年期国债收益率下行20bp左右，1年期国债收益率下行22bp左右，债市全面走牛。 　　报告期内，债券市场方面，我们以持有3年以内的中短久期高等级信用债为主，止盈了部分5年期的高等级信用债，力争获取稳健的票息收益。股票市场方面，我们较多的配置了估值合理、分红较优、基本面长期稳健的国企标的，适当配置了部分受益于经济和场景复苏的医药和消费行业，逐渐提高了权益仓位。转债市场方面，我们少量持有部分估值合理正股确定性高的转债。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.095Z","mo":"展望后市，我们认为国内经济企稳复苏的概率较大，政策态度积极友好，流动性仍然保持充裕，投资者对经济的信心和风险偏好都有望企稳回升。债券市场方面，我们认为短期面临经济复苏的压力，但在房地产大周期拐点向下的背景下，利率调整的空间相对有限，持有获取票息仍是不错的投资策略。权益市场方面，随着宏观经济的企稳回升，整体盈利将有明显改善，整体来看，权益性价比处于较优区间，我们将更加积极的参与权益市场的运作，同时择机参与一级市场的新股投资。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=965685","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af67","date":"2023-03-30T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济呈现企稳回升态势，金融数据总量和结构均明显改善，经济数据缓慢爬升。大宗商品方面，以原油为代表的上游资源品价格均有所回调，有利于缓解制造业企业的成本压力。海外市场方面，随着美国通胀缓慢降低，市场开始预期美联储进入加息尾声。　　报告期内，在流动性宽松的背景下，债券收益率整体均有所下行。 10年期国债收益率下行2bp左右，1年期国债收益率下行13bp左右，曲线呈现出一定的牛陡特征。 　　报告期内，债券市场方面，我们以持有3年以内的中短久期高等级信用债为主，力争获取稳健的票息收益。股票市场方面，我们较多的配置了估值合理、分红较优、基本面长期稳健的国企标的，适当配置了部分受益于经济和场景复苏的医药和消费行业。转债市场方面，我们少量持有部分估值合理正股确定性高的转债。　　展望后市，我们认为国内经济企稳复苏的概率较大，政策态度积极友好，流动性仍然保持充裕，投资者对经济的信心和风险偏好都有望企稳回升。债券市场方面，我们认为短期面临经济复苏的压力，但在房地产大周期拐点向下的背景下，利率调整的空间相对有限，持有获取票息仍是不错的投资策略。权益市场方面，随着宏观经济的企稳回升，整体盈利将有明显改善，整体来看，权益性价比处于较优区间，我们将更加积极的参与权益市场的运作，同时择机参与一级市场的新股投资。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.093Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=881790","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af66","date":"2022-12-30T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济在众多不利因素的影响下逐渐探底企稳，消费和房地产成为经济的主要拖累项，政府出台了较多有利于拉动经济的政策，政策效果将在未来逐渐显现。大宗商品方面，以原油为代表的上游资源品在俄乌冲突的影响下出现了较为剧烈的上涨，下半年价格有所回落。海外央行纷纷开启了货币正常化的步伐，海外债券收益率均出现了较大幅度的上行，海外流动性状况明显收紧。　　报告期内，央行全年均维持了较为宽松的货币政策，利率呈现出底部震荡的走势。在流动性宽松和投资者风险偏好较低的情况下，1年期国债收益率下行14bp左右，10年期国债收益率上行6bp左右。在投资者对经济来年预期转好的背景下，四季度债券市场收益率出现了较为明显的上行。 　　报告期内，债券市场方面，我们以持有3年以内的中短久期高等级信用债为主，力争获取稳健的票息收益。股票市场方面，我们较多的配置了估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业，适当配置了部分受益于经济复苏的消费和医药行业。转债市场方面，我们少量持有部分估值合理正股确定性高的转债。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.090Z","mo":"展望后市，我们认为国内经济企稳复苏的概率较大，政策态度积极友好，流动性仍然保持充裕，投资者对经济的信心和风险偏好都有望企稳回升。债券市场方面，我们认为短期面临经济和通胀的压力，但在房地产大周期拐点向下的背景下，利率调整的空间相对有限，持有获取票息仍是不错的投资策略。权益市场方面，随着政策的改变，前两年因为宏观扰动遭遇基本面估值双杀的行业将更加具备反转弹性，大部分行业将受益于宏观经济的整体修复盈利也将有所改善，整体来看，权益性价比处于较优区间，我们更加积极的参与权益市场的运作，同时择机参与一级市场的新股投资。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=873434","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af65","date":"2022-09-29T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济继续处于见底回升阶段，政府主导的基建投资继续发力，成为稳定经济的重要力量，而房地产销售继续维持较为低迷的状态。大宗商品方面，以原油为代表的上游资源品价格均有所回调，有利于缓解制造业企业的成本压力。由于地缘冲突持续不断，海外通货膨胀仍然高企，大多数海外央行维持紧缩的货币政策。  报告期内，在较大的经济压力背景下，央行保持了较为宽松的货币政策，短端资金面较为充裕，债券收益率全线下行，曲线继续呈现出陡峭化特征。 10年期国债收益率小幅下行6bp左右，1年期国债收益率下行10bp左右。   报告期内，债券市场方面，我们以持有3年以内的中短久期高等级信用债为主，力争获取稳健的票息收益。股票市场方面，我们较多的配置了估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业，适当配置了部分成长性良好、估值合理的银行和军工标的。转债市场方面，我们少量持有部分估值合理正股确定性高的转债。  展望后市，我们认为国内经济将继续维持复苏态势，目前国内的货币和财政政策仍然存在较大的空间，政策落地的效果静待观察。债券市场方面，我们认为社融短期波动空间不大，我们仍然将持有获取票息收益作为债券投资的主要策略。权益市场方面，在社融增速企稳回升，流动性充沛的背景下，整体估值压力将有所减轻，不同行业估值分化现象仍将继续存在。因此，权益市场方面，我们将审视更多的行业，着重于考虑标的资产的盈利稳定性和估值的安全边际，择机参与一级市场的新股投资。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.088Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=807488","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af64","date":"2022-06-29T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济延续去年以来的弱势，国内外宏观经济要素中均出现预期外的较大变化。俄乌冲突导致以原油为代表的大宗商品价格快速走高，全球面临较大的通胀压力。奥密克戎病毒在部分大城市传播，导致国内制造业供应链呈现一定程度的不稳定，消费压力再次加大，部分行业的景气度短暂快速下滑，经济面临较大下行压力。美联储一季度开启加息，并暗示随后将开启缩表，全球流动性环境面临较大的不确定性。国内政策着眼于温和刺激需求端，将保就业保民生放在更重要的位置。随着上海疫情的结束，国内经济进入缓慢复苏的阶段，国内货币政策和财政政策均具备一定的空间，政策环境相对友好。  报告期内，在较大的经济下行压力背景下，央行保持较为宽松的货币政策，短端资金面十分充裕，债券收益率曲线呈现出陡峭化特征。 10年期国债收益率小幅上行4bp左右，而1年期国债收益率从年初的2.24%下行至季末1.95%。   报告期内，债券市场方面，我们以持有3年以内的中短久期高等级信用债为主，力争获取稳健的票息收益。股票市场方面，同年初相比，我们减持了部分景气度受到冲击的成长股，较多的配置了估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业，适当配置了部分成长性良好、估值合理的银行和军工标的。转债市场方面，我们持有部分估值合理正股确定性高的转债。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.085Z","mo":"展望后市，我们认为国内经济将从底部开始逐渐复苏，疫情管控政策的渐进调整有利于消费和服务业的回暖，目前国内的货币和财政政策仍然存在较大的空间，稳增长保民生是下半年最重要的政策主题。债券市场方面，我们认为社融短期有望企稳回升，对长短端利率均均构成一定的制约，我们仍然将持有获取票息收益作为债券投资的主要策略。权益市场方面，在社融增速企稳回升，宏观经济向下有底的背景下，整体估值压力将有所减轻，不同行业的盈利情况将有较大分化。因此，权益市场方面，我们将审视更多的行业，着重于考虑标的的盈利稳定性和估值的安全边际，择机参与一级市场的新股投资。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=787278","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af63","date":"2022-03-30T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济逐渐走弱，国内外宏观经济要素出现了较大变化。俄乌冲突导致以原油为代表的大宗商品价格快速走高，全球面临较大的通胀压力。奥密克戎病毒在部分大城市传播，导致国内制造业供应链出现了一定的不稳定，消费压力再次加大。美联储正式进行加息，并暗示随后将开启缩表，全球流动性环境面临较大的不确定性。国内政策以我为主，政策发力点主要着眼于稳增长和稳就业。  报告期内，央行保持了较为宽松的货币政策，短端资金面较为充裕，债券收益率曲线呈现出陡峭化特征。 10年期国债收益率窄幅震荡，季末和季初相比变化不大；1年期国债收益率从季初的2.24%下行至季末2.13%。   报告期内，债券市场方面，我们以持有3年以内的中短久期高等级信用债为主，力争获取稳健的票息收益。股票市场方面，我们较多的配置了估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业，适当配置了部分成长性良好、估值合理的银行、建材和军工标的。转债市场方面，我们少量持有部分估值合理正股确定性高的转债。  展望后市，我们认为国内经济增长面临较大的压力，房地产市场的波动、疫情的偶发和国外流动性环境的收紧均对我们宏观经济的发展带来了一定的制约，但国内货币政策和财政政策均具备灵活的空间，将构成托底经济的主要抓手。债券市场方面，我们认为社融短期有望企稳回升，将对长端利率构成一定的制约，而短端利率受益于央行宽松的货币政策将保持在较低的水平，我们仍然将持有获取票息收益作为债券投资的主要策略。权益市场方面，在社融增速企稳回升，宏观经济向下有底的背景下，整体估值压力将有所减轻，不同行业的估值呈现出一定均值回归的特征。因此，权益市场方面，我们将审视更多的行业，着重于考虑标的的盈利稳定性和安全边际，择机参与一级市场的新股投资。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.083Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=727230","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af62","date":"2021-12-30T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济稳定恢复，各项经济数据表现良好，在国家对房地产严厉调控的背景下，制造业投资和出口成为拉动经济增长的主要推手。随着全球经济从新冠疫情中逐渐恢复，商品供需矛盾加大，双碳政策推高了部分商品的生产成本，大宗商品价格整体保持上扬态势。整体看，国内经济上半年保持了较强的增长态势，但从下半年开始经济复苏的力度有所减弱，房地产投资收缩较为剧烈，局部信用风险开始暴露。央行对于货币政策整体保持稳健的基调，适时展开精准的流动性调控，流动性整体保持宽松，社融增速震荡下行。  报告期内，随着金融数据的见顶回落，各期限债券收益率普遍下行，债券市场呈现出一定的牛市特征。 10年期国债收益率从年初的3.14%下行至年末2.77%，1年期国债收益率从年初的2.47%下行至年末2.24%。利率整体呈现出震荡下行的态势，期限利差有所压缩。  报告期内，债券市场方面，我们以持有高等级信用债获取稳健票息收益为主要策略。股票市场方面，我们权益仓位在季度间有一定波动，主要配置部分估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业，适时投资了部分业绩良好、估值具备性价比的成长股，投资领域主要包括军工、电子、品牌中药等方向。","declarationDate":"2022-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.080Z","mo":"展望2022年，我们认为国内经济增长面临一定的下行压力，政策重心短期将回归稳增长，社融大概率有望企稳回升，房地产和基建政策边际上将变得更加积极。债券市场方面，我们认为社融短期有望企稳回升，将对长端利率构成一定的制约，而短端利率受益于央行宽松的货币政策将保持在较低的水平。权益市场方面，在社融增速企稳回升，宏观经济向下有底的背景下，整体估值压力将有所减轻，不同行业的估值呈现出一定均值回归的特征。因此，权益市场方面，我们将审视更多的行业，灵活配置部分估值合理行业前景清晰的优质标的。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=711029","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af61","date":"2021-09-29T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济恢复势头放缓，商品价格上涨明显，经济呈现出一定的滞涨特征。在房地产的严厉调控下，部分大型民营房地产企业出现了信用风险的暴露。央行在7月份进行了今年的第一次降准操作，而以美联储为代表的国外央行相继恢复正常的货币政策节奏，内外部宏观因素愈加复杂。  报告期内，债券市场的关注点从经济增长逐渐向通胀转移，债券收益率先下后上。 10年期国债收益率从季初的3.08%下行至最低2.8%，1年期国债收益率从季初的2.43%下行至最低2.13%。进入8月，随着对地方债供给加大和通胀预期的增强，10年期国债和1年期国债收益率较季度内低点均有所回升。整体看，三季度债券市场收益率处于震荡下行的态势。   报告期内，债券市场方面，我们以持有高等级信用债获取稳健票息收益为主要策略。股票市场方面，我们较多的配置了估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业，季末仓位较季初有所下降，适当参与了一级市场的股票投资。   展望四季度，我们认为国内经济增长将继续放缓，在房地产严厉调控的背景下，社融内生增长动力较弱，主要靠发行政府债券托底。商品价格将在一定时间内继续维持高位，经济呈现出一定的类滞涨特征。债券市场方面，我们认为社融内生恢复动力较弱，通胀暂时不构成对央行货币政策的重大制约，债券市场中长期利多因素继续存在，年末可能会有资金面的短期扰动。权益市场方面，国内流动性的宽松和较强的财报表现将对估值构成一定的支撑，风险隐患在于商品价格高位对产业链利润的重新分配。因此，权益市场方面，我们将灵活配置部分估值合理行业前景清晰的优质标的，择机参与一级市场的新股投资。","declarationDate":"2021-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.078Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=656637","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af60","date":"2021-06-29T16:00:00.000Z","stockId":3000000006700,"sao":"报告期内，国内经济稳定恢复，各项经济数据表现良好，在国家对房地产严厉调控的背景下，制造业投资和出口成为拉动经济增长的主要推手。新冠疫情仍然在全球蔓延，变异毒株的发展成为不可控因素，大宗商品价格整体保持上扬态势，供应链的不稳定加剧了部分商品的供需矛盾。整体看，国内经济仍然保持了一定的恢复势头，但从6月份开始经济复苏的势头有所减弱，房地产投资的收缩和地方政府投资的放缓是未来的隐忧。央行对于货币政策整体保持稳健的基调，适时展开精准的流动性调控，流动性整体保持宽松。  报告期内，随着金融数据的见顶回落，各期限债券收益率普遍小幅下行。10年期国债收益率从年初的3.14%下行至半年末3.08%，1年期国债收益率从年初的2.47%下行至季末2.43%。利率整体呈现出震荡下行的态势，期限利差有所压缩。  报告期内，债券市场方面，我们以持有高等级信用债获取稳健票息收益为主要策略。股票市场方面，我们小幅调整了权益整体仓位，较多的配置了估值合理、对宏观经济敏感性弱、国家政策支持的公用事业行业，减持了部分估值偏高的成长股，适时参与了部分一级市场新股投资。","declarationDate":"2021-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.075Z","mo":"展望下半年，我们认为国内经济将延续增长态势，在基数效应的影响下，表观数据会有一定的边际走弱。金融数据方面，地方债发行量对社融增速是否能够见底企稳有较大的影响，我们认为政府相机抉择的概率较大，社融增速同去年相比将明显偏低，从而对债券市场构成中期的利多因素。因此，债券市场方面，我们将更加积极地关注可能的资本利得机会，积极进行债券的波段操作。权益市场方面，国内流动性的宽松和较强的财报表现将对估值构成一定的支撑，风险隐患在于部分热门板块估值结构性高企和美联储缩表预期下的外资流出。因此，权益市场方面，我们将灵活配置部分估值合理行业前景光明的优质标的，择机参与一级市场的新股投资。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName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分核心资产和优质成长股，同时积极参与一级市场新股投资。展望四季度，我们认为国内经济整体将继续维持复苏趋势，因此央行货币政策很难出现明显宽松的转向。但海外二次疫情加剧，美国大选不确定性也将给市场和政策带来不确定性，我们将密切关注经济数据的变化情况，以及上述不确定性对市场情绪的影响。债券市场方面，组合将继续坚持较低的久期配置，以获取票息为主要手段。权益市场方面，组合将坚持价值投资理念，长期持有部分基本面良好、财报质量优良的核心资产，同时坚持从一级市场中择优积极配置。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-27T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.067Z","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=489899","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9f97fea5b3eb049af5c","stockId":3000000006700,"sao":"报告期内，一季度国内突发新冠疫情，随后全球范围也广泛出现疫情，严重影响全球经济和金融市场的稳定。为应对疫情对国内经济及海外经济的负面影响，包括中国在内的世界各国都出台了强有力的货币宽松政策和财政刺激政策，中国央行先后采取下调MLF利率、下调存款准备金率等在内的多种措施，积极为市场注入流动性，以期降低企业的融资成本。报告期内，二季度在中国政府强有力的组织领导下，新冠疫情在中国范围内得到有效控制，随之各行各业复工复产也有效展开；海外疫情阶段性有缓和但情况相对复杂，因此海外经济负面影响实际上比较严峻。随着国内主要经济数据环比明显改善，中国央行没有继续加码前期已经出台的货币宽松政策，代之以“滴注”的形式在个别资金紧张时点投放流动性，以利市场保持对政策稳定的预期，同时强调要防范金融风险，防止资金套利空转。报告期内，债券投资方面，我们组合平均久期维持在2-3年之间，二季度出于对债券的谨慎观点，适当缩短了组合久期；权益投资方面，我们配置了部分优质权益资产和转债资产，同时积极参与一级市场优质新股的投资，以增强组合收益。","date":"2020-06-29T16:00:00.000Z","declarationDate":"2020-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:09.064Z","mo":"展望下半年，我们认为央行对货币政策宽松力度持有的谨慎态度、经济数据可能进一步环比改善、利率债的供给压力，以及权益市场的财富效应，都将继续压制资金对债券品种的风险偏好。但我们也认为，随着债券市场收益率的回升，在国内外经济整体仍缺乏有效动力、地缘政治风险加大以及疫情可能存在反复的情况下，债券市场的收益率将会出现阶段性投资机会，对此我们予以保持密切关注。权益市场方面，我们将坚定持有部分优质权益资产和转债资产，积极参与优质新股的一级市场投资，争取组合收益稳健增长。","fund":{"_id":3000000006700,"stockCode":"006700","stockType":"fund","areaCode":"cn","followedNum":4,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2018-12-11T16:00:00.000Z","setUpScale":512851000,"market":"a","tickerId":6700,"custody":"中国工商银行股份有限公司","name":"红土创新稳健混合型证券投资基金","shortName":"红土创新稳健混合A","fundSecondLevel":"hybrid","__csrcFundId":6016,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.373Z","masterFundFlag":1,"inceptionDate":"2019-03-12T16:00:00.000Z","fundCollectionId":4000050970000,"currency":"CNY","masterFundShortName":"红土创新稳健混合","pinyin":"htcxwjhhxzqtzjj","managers":[{"stockCode":"db20037158","stockType":"fund_manager","exchange":"fm","tickerId":31810080070,"name":"陈若劲"},{"stockCode":"db20354732","stockType":"fund_manager","exchange":"fm","tickerId":1710204570,"name":"邱骏"}]},"announcement":{"linkText":"红土创新稳健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=460662","linkType":"PDF","source":"csrc_pdf"}}]}