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Siebel所说，\"在后工业社会，知识是最主要的资源，数据开始成为通用货币。数据越多--体量越大、内容越精确、反馈越及时，所产生的价值和力量就越大。\"但另外一方面，技术进步带来了破坏性创新，企业的竞争难度加大、寿命变短，企业研究的难度越来越高。就基金产品来说，二季度我们增配了数字化转型受益的企业，利用市场波动介入了那些暂时陷入困境的好生意、好企业。","declarationDate":"2021-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:12.274Z","mo":"目前万得全A处于过去10年来的平均区间偏高的位置，测算的风险溢价为2%，股票市场仍然可以带来比国债更好的收益。但是当前市场结构分化厉害，对此我们理解：既有市场对新能源、科技等高景气行业的追捧；也有中国产业升级以及对这类资产投入前置、知识及技术定价的分歧。中国经济转型升级的未来必然波折不断，我们依然预期有更美好的未来在前方，也会有一大批的企业具有国际化的竞争力和社会价值。对于后市，我们整体想法：在长期主义和安全边际中找到平衡，构建稳健的资产组合，同时加深研究、耐心等待，提升对于定价的思考。","fund":{"_id":3000000006718,"stockCode":"006718","stockType":"fund","areaCode":"cn","followedNum":6,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2019-05-05T16:00:00.000Z","setUpScale":208919000,"market":"a","tickerId":6718,"custody":"广发证券股份有限公司","name":"国融融盛龙头严选混合型证券投资基金","shortName":"国融融盛龙头严选混合A","fundSecondLevel":"hybrid","__csrcFundId":6242,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.404Z","masterFundFlag":1,"inceptionDate":"2019-05-28T16:00:00.000Z","fundCollectionId":4000051510000,"currency":"CNY","masterFundShortName":"国融融盛龙头严选混合","pinyin":"grrsltyxhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20734276","stockType":"fund_manager","exchange":"fm","tickerId":260419201030,"name":"周德生"}]},"announcement":{"linkText":"国融融盛龙头严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=633088","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9fc7fea5b3eb049b368","stockId":3000000006718,"sao":"市场的短期波动是无法事先预判的，经过几年的价值挖掘和价格展现，当市场中一大批企业中短期估值过高、未来一段时间内的预期收益过低时，股票在某个时间发生下跌是很正常的。但股票的价值最终是由企业的内在价值决定，市场回调给优质的企业提供了更好的买入机会。一季度市场波动较大，我们做了一些持仓的调整。我们对一些龙头企业保持了较长时间的研究积累，波动之下，我们重新审视这些企业，既管理好预期耐心等待，优化组合的同时更注重安全边际。我们加大了一些需求稳定、增长缓慢甚至下滑的所谓夕阳行业的配置，因为龙头企业的领先优势更容易维持，行业的竞争格局在未来几年将迎来优化，更重要的是这些公司的价值并未被市场充分反映。此外，部分医药医疗公司进入长期价值投资区间，我们做了增持。最后，基金委托本质上是持有人信赖专业投资人能更好地管理资产，我们希望不断提高自己的认知、研究能力，选出优秀的企业，让持有人通过长期持有基金分享它们的发展成果。","date":"2021-03-30T16:00:00.000Z","declarationDate":"2021-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:12.271Z","fund":{"_id":3000000006718,"stockCode":"006718","stockType":"fund","areaCode":"cn","followedNum":6,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2019-05-05T16:00:00.000Z","setUpScale":208919000,"market":"a","tickerId":6718,"custody":"广发证券股份有限公司","name":"国融融盛龙头严选混合型证券投资基金","shortName":"国融融盛龙头严选混合A","fundSecondLevel":"hybrid","__csrcFundId":6242,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.404Z","masterFundFlag":1,"inceptionDate":"2019-05-28T16:00:00.000Z","fundCollectionId":4000051510000,"currency":"CNY","masterFundShortName":"国融融盛龙头严选混合","pinyin":"grrsltyxhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20734276","stockType":"fund_manager","exchange":"fm","tickerId":260419201030,"name":"周德生"}]},"announcement":{"linkText":"国融融盛龙头严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=573777","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec9fc7fea5b3eb049b367","stockId":3000000006718,"sao":"2020年，新冠疫情横扫全球，全球主要经济体均受到重创。回顾国内外市场环境，新年伊始，一场突如其来的新冠疫情给全国经济带来重大负面影响，但在党中央带领下，疫情被迅速控制，同时国务院出台一系列促生产保民生政策，积极的财政和货币政策不断发力，国内经济探底回升。3月后海外新冠疫情病例不断攀升，而国内疫情得到有效控制，复工复产加速推进，中国制造业优势不断凸显，出口表现优异。四季度美国总统大选扰动市场情绪，随后拜登的当选和疫苗的获批迅速修复了全球资本市场的信心，增强了对全球经济复苏的预期。股市方面，受益于国内疫情的有效控制、全球经济刺激政策的出台，国内股市表现优异，以业绩为导向的消费、医药和以清洁能源为发展方向的光伏、新能源汽车板块表现较好。本基金以绝对收益为投资目标，坚持价值投资，在严格控制风险的前提下，通过优化大类资产配置和优质龙头企业的严格筛选，力争实现基金资产的长期稳健增值。在仓位方面，根据合同要求股票资产占基金资产的比例为60%-95%，建仓期过后维持仓位在60%以上。在2020年国内外宏观环境变化较大的情形下，我们将配置重心布局在需求和供给都在国内且具备业绩支撑的消费、医药和基建等行业中的优质龙头，精选估值合理、有业绩支撑的新兴消费、新基建和政府扶持的新兴产业龙头。在报告期间产品净值总体稳定，产品的波动维持在相对较小的范围内。我们将继续坚持绝对收益的理念，以长期稳健的表现穿越不同市场周期，通过净值持续稳定的增长给投资者带来较好的投资体验。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:12.268Z","mo":"展望2021年，随着全球抗疫经验的提升、疫苗的推广，全球经济有望逐步摆脱疫情阴霾；此外，美国新总统拜登上台后，预期将以更大的财政刺激推动经济复苏。当前，国内经济进入\"十四五\"阶段，科技创新、能源革命、种业革命、国企改革等有望成为国内经济新的推动力。回顾过去的一年，在全球疫情的考验下，国内经济以足够的韧性和生命力经受住了考验，中国成为全球主要经济体中唯一一个实现正增长的国家；随着中欧投资协定、区域全面经济伙伴RCEP的签署，中国经济有望持续成为全球经济的引擎。因此，在疫情后时代应积极布局具备成长潜力和业绩支撑的行业龙头。在疫情中，现金流充裕的龙头企业抵抗风险的能力更强，而小企业可能退出市场，龙头公司的市场份额会进一步提升，从而使龙头公司的长期投资价值更加凸显。另外疫情结束后，供给侧改革将会加速推进，公共卫生体系建设和相关科技投入将会大大加强，在这些领域中成长起来的新龙头品种将成为新的长期投资之选。\"十四五\"规划的军工、半导体、信创、农业等未来高成长领域有望持续受益。","fund":{"_id":3000000006718,"stockCode":"006718","stockType":"fund","areaCode":"cn","followedNum":6,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2019-05-05T16:00:00.000Z","setUpScale":208919000,"market":"a","tickerId":6718,"custody":"广发证券股份有限公司","name":"国融融盛龙头严选混合型证券投资基金","shortName":"国融融盛龙头严选混合A","fundSecondLevel":"hybrid","__csrcFundId":6242,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.404Z","masterFundFlag":1,"inceptionDate":"2019-05-28T16:00:00.000Z","fundCollectionId":4000051510000,"currency":"CNY","masterFundShortName":"国融融盛龙头严选混合","pinyin":"grrsltyxhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20734276","stockType":"fund_manager","exchange":"fm","tickerId":260419201030,"na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   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