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2022年11月30日发布ChatGPT、2023 年3月15日发布GPT4成为人工智能发展里程碑事件，这带动人工智能行业大发展，并促进人工智能在各行业的应用。美联储在2022年连续多次大幅加息之后，今年2月份、3月份、5月份都加息25个基点，6月份暂停加息并不意味着美联储加息周期结束，人工智能大发展一定程度上改变了美国经济周期，美联储高利率至今没有造成美国房地产市场明显的衰退，这造成此轮美联储加息周期以及随之而来可能的降息周期更加难以预判。在此背景下，国内市场1月份普涨之后，整体呈震荡下行格局，各类指数出现较为明显分化。我们配置的风险资产由于细分行业选择失误、个股不集中，没能有效分享人工智能行业大发展带来的投资机会，从而造成本基金净值回撤明显，今年以来组合出现一定程度亏损。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:15.965Z","mo":"展望未来一个时期，国内经济仍将继续复苏，美联储加息的风险可能会有一定程度缓解，国内市场将比去年有更明显的投资机会。基于此，我们将维持一定比例的风险资产组合，做好个股优化，争取今年取得一些投资收益。","fund":{"_id":3000000001914,"stockCode":"001914","stockType":"fund","areaCode":"cn","followedNum":1,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2015-10-18T16:00:00.000Z","setUpScale":1835210000,"market":"a","tickerId":1914,"custody":"北京银行股份有限公司","name":"中信建投聚利混合型证券投资基金","shortName":"中信建投聚利A","fundSecondLevel":"hybrid","__csrcFundId":4316,"fundStatus":"normal","lastUpdated":"2024-05-16T10:28:51.165Z","masterFundFlag":1,"inceptionDate":"2015-11-10T16:00:00.000Z","memoNum":1,"fundCollectionId":4000050840000,"currency":"CNY","masterFundShortName":"中信建投聚利","pinyin":"zxjtjlhhxzqtzjj","managers":[{"stockCode":"j101020449","stockType":"fund_manager","exchange":"fm","tickerId":2610259140,"name":"张剑"}]},"announcement":{"linkText":"中信建投聚利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=965998","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6037fea5b3eb0450a62","date":"2023-03-30T16:00:00.000Z","stockId":3000000001914,"sao":"2023年1季度，国内经济进入后疫情时代，疫情对经济的负面影响在逐步缓解，从而经济开始渐进复苏，只是出口对国内经济复苏继续产生不利影响。美联储在2022年连续多次大幅加息之后，今年2月份、3月份又分别加息25个基点。在美联储维持高利率环境下，3月份美国硅谷银行、签名银行、瑞士信贷银行相继破产，但是对市场的冲击基本是虚惊一场。2022年11月30日OpenAI发布ChatGPT,发布没多久就爆火，成为史上用户增长速度最快的消费级应用程序。2023年3月15日OpenAI正式官宣了多模态大模型GPT-4。2023年3月16日微软宣布包含Excel、PowerPoint、Outlook和Word的Office办公软件将开始使用OpenAI新推出的GPT-4人工智能平台即Copilot。这让人工智能成为市场各方关注的焦点。在此背景下，国内市场在经历1月份普遍上涨之后，2、3月份进入震荡格局，各类指数呈现一定分化。我们配置的风险资产由于没法分享1月份市场普遍上涨的投资机会，在2、3月份震荡市场环境下，由于个股结构不够集中，没能有效分享人工智能行业大发展带来的投资机会，从而造成组合净值年初以来略有亏损。展望未来一个时期，国内经济将逐步触底回升，美联储加息的风险将逐步缓解，国内市场将比去年有更明显的投资机会。基于此，我们将维持较高比例的风险资产组合，做好个股优化，争取今年取得较好的投资收益。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:15.962Z","fund":{"_id":3000000001914,"stockCode":"001914","stockType":"fund","areaCode":"cn","followedNum":1,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2015-10-18T16:00:00.000Z","setUpScale":1835210000,"market":"a","tickerId":1914,"custody":"北京银行股份有限公司","name":"中信建投聚利混合型证券投资基金","shortName":"中信建投聚利A","fundSecondLevel":"hybrid","__csrcFundId":4316,"fundStatus":"normal","lastUpdated":"2024-05-16T10:28:51.165Z","masterFundFlag":1,"inceptionDate":"2015-11-10T16:00:00.000Z","memoNum":1,"fundCollectionId":4000050840000,"currency":"CNY","masterFundShortName":"中信建投聚利","pinyin":"zxjtjlhhxzqtzjj","managers":[{"stockCode":"j101020449","stockType":"fund_manager","exchange":"fm","tickerId":2610259140,"name":"张剑"}]},"announcement":{"linkText":"中信建投聚利混合型证券投资基金2023年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=885793","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6037fea5b3eb0450a61","date":"2022-12-30T16:00:00.000Z","stockId":3000000001914,"sao":"回顾2022年，国内疫情防控、美联储加息、俄乌危机成为市场主要驱动因素。2022年1月份以来，在美联储加快货币紧缩力度、俄乌危机加剧、上海封城控制疫情这三大风险相继冲击，国内市场经历了近4个月快速大幅下跌。之后随着全国疫情阶段性缓解、俄乌危机进入僵局，国内市场迎来一波2个月左右快速反弹。但是全国疫情在经历2个月左右相对平静格局之后，8月份开始逐步在各地愈演愈烈，最终造成10月下旬全国多个地方静默都难以动态清零的僵局，加之美联储6月份以来连续大幅加息，国内市场经历了二次探底，部分指数甚至创出前期历史新低。随着国内疫情防控在年底逐步转向共存，美联储加息也差不多同步放缓节奏，国内市场又迎来小幅反弹。在市场整体处于熊市格局下，市场大幅波动为参与者提供了为数不多与俄乌危机和疫情防控相关的结构性投资机会。固收方面，5月份大幅降低长期国债投资，逐步大幅增加可转债投资。事后看，长期国债投资对组合没有产生任何贡献，可转债投资虽然阶段性对组合收益有一定贡献，但是年底可转债溢价率大幅收窄的系统性风险造成可转债投资全年还是对组合收益有一定拖累。权益方面，组合虽然利用4月底那波快速反弹一定幅度改善年初以来不利的业绩状况，但是由于结构性投资机会把握不充分，加之个股波段操作能力有待加强，组合全年业绩依然较差。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:15.957Z","mo":"展望未来一个时期，国内经济将逐步触底回升，美联储加息的风险将逐步缓解，国内市场将比2022年有更明显的投资机会。基于此，我们将进一步增加风险资产组合的比例，争取2023年取得较好的投资收益。","fund":{"_id":3000000001914,"stockCode":"001914","stockType":"fund","areaCode":"cn","followedNum":1,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2015-10-18T16:00:00.000Z","setUpScale":1835210000,"market":"a","tickerId":1914,"custody":"北京银行股份有限公司","name":"中信建投聚利混合型证券投资基金","shortName":"中信建投聚利A","fundSecondLevel":"hybrid","__csrcFundId":4316,"fundStatus":"normal","lastUpdated":"2024-05-16T10:28:51.165Z","masterFundFlag":1,"inceptionDate":"2015-11-10T16:00:00.000Z","memoNum":1,"fundCollectionId":4000050840000,"currency":"CNY","masterFundShortName":"中信建投聚利","pinyin":"zxjtjlhhxzqtzjj","managers":[{"stockCode":"j101020449","stockType":"fund_manager","exchange":"fm","tickerId":2610259140,"name":"张剑"}]},"announcement":{"linkText":"中信建投聚利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=873374","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6037fea5b3eb0450a60","date":"2022-09-29T16:00:00.000Z","stockId":3000000001914,"sao":"2022年三季度，美联储7月底又大幅加息75个基点，只给市场短暂的喘息机会，随着8月份美国通胀和就业数据相继公布，市场又重新意识到美国持续高通胀的韧性，美联储大幅加息将会持续，美股在8月中旬掉头向下调整，美元兑人民币汇率同时在8月中旬开始新一轮大幅升值，并创出2013年以来历史新高，美联储9月份加息75个基点进一步确认市场前期预判。7月份以来国内疫情持续呈现多点爆发的格局，与6月份相比没有进一步改善，这对国内经济进一步复苏产生一定阻力。俄乌冲突9月份以来进一步升级。在此背景下，国内市场始于4月底这波反弹在8月中就戛然而止，开始新的一轮快速下跌，部分指数甚至创出历史新低。我们配置的风险资产虽然受益于前期市场反弹，组合净值今年以来收益率甚至基本扭亏，但是近期这波市场快速下跌又重新造成组合今年以来较大幅度亏损。展望未来一个时期，国内经济在政策持续加码下将进一步复苏，美联储持续大幅加息对市场冲击至少阶段性缓解，国内市场将存在一定投资机会。基于此，我们在风险资产组合结构上维持较高风险偏好，争取能明显降低今年以来组合的亏损。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:15.945Z","fund":{"_id":3000000001914,"stockCode":"001914","stockType":"fund","areaCode":"cn","followedNum":1,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2015-10-18T16:00:00.000Z","setUpScale":1835210000,"market":"a","tickerId":1914,"custody":"北京银行股份有限公司","name":"中信建投聚利混合型证券投资基金","shortName":"中信建投聚利A","fundSecondLevel":"hybrid","__csrcFundId":4316,"fundStatus":"normal","lastUpdated":"2024-05-16T10:28:51.165Z","masterFundFlag":1,"inceptionDate":"2015-11-10T16:00:00.000Z","memoNum":1,"fundCollectionId":4000050840000,"currency":"CNY","masterFundShortName":"中信建投聚利","pinyin":"zxjtjlhhxzqtzjj","managers":[{"stockCode":"j101020449","stockType":"fund_manager","exchange":"fm","tickerId":2610259140,"name":"张剑"}]},"announcement":{"linkText":"中信建投聚利混合型证券投资基金2022年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=808115","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6037fea5b3eb0450a5f","date":"2022-06-29T16:00:00.000Z","stockId":3000000001914,"sao":"2022年上半年，国内市场经历三大风险事件：美联储加快货币紧缩力度、俄乌冲突2月底以来持续加剧、上海疫情防控4月份超出预期。政府5月份为稳住宏观经济大盘推出了一揽子政策措施，并持续督促政策措施落地。PMI指数从年初开始持续下滑，4月份跌落至近一年多历史低点47.4%，5月份、6月份持续反弹。在此背景下，国内市场在1-4月份经历了三波快速下跌，之后国内市场开始持续稳步上涨。我们配置的风险资产伴随着市场大幅波动，组合净值年初以来仍有一定亏损。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:15.942Z","mo":"展望未来一个时期，国内经济将继续复苏，美联储货币政策和俄乌冲突对国内市场冲击可能不明显，国内市场将继续较为活跃。基于此，我们在风险资产组合结构上维持较高风险偏好，争取能取得一定的正收益，但是需要广大的基金持有人进一步降低今年的预期收益率，尤其是与过去三年相比。","fund":{"_id":3000000001914,"stockCode":"001914","stockType":"fund","areaCode":"cn","followedNum":1,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2015-10-18T16:00:00.000Z","setUpScale":1835210000,"market":"a","tickerId":1914,"custody":"北京银行股份有限公司","name":"中信建投聚利混合型证券投资基金","shortName":"中信建投聚利A","fundSecondLevel":"hybrid","__csrcFundId":4316,"fundStatus":"normal","lastUpdated":"2024-05-16T10:28:51.165Z","masterFundFlag":1,"inceptionDate":"2015-11-10T16:00:00.000Z","memoNum":1,"fundCollectionId":4000050840000,"currency":"CNY","masterFundShortName":"中信建投聚利","pinyin":"zxjtjlhhxzqtzjj","managers":[{"stockCode":"j101020449","stockType":"fund_manager","exchange":"fm","tickerId":2610259140,"name":"张剑"}]},"announcement":{"linkText":"中信建投聚利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=786682","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6037fea5b3eb0450a5e","date":"2022-03-30T16:00:00.000Z","stockId":3000000001914,"sao":"2022年一季度，美联储加快货币紧缩力度，3月份首次加息25个基点，并停止资产购买行动，同时向市场持续传递将会进一步加大货币紧缩力度的预期。俄乌冲突从2月底开始持续加剧，至今没有明显缓解，大幅推高以原油为代表的大宗商品价格，并造成全球金融市场大幅动荡。政府在面对内外不利局面，持续在稳增长上发力。在此背景下，国内市场相继在1月份、3月份经历两波快速下跌，分别主要由美联储加快货币紧缩预期和俄乌冲突加剧造成，我们在配置风险资产时由于低估了外部环境对市场不利冲击，过于重视了国内稳增长政策作用，从而造成组合净值大幅回撤。展望未来一个时期，美联储货币政策和俄乌冲突可能仍会对国内市场产生不利冲击，但是市场经过前期大幅调整，估值水平更为合理，加之政府稳增长持续对经济托底，国内市场将存在好转的机会。基于此，我们在风险资产组合结构上继续以逆向投资为主，争取能取得一定的超额收益，但是需要广大的基金持有人进一步降低今年的预期收益率，尤其是与过去三年相比。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:15.939Z","fund":{"_id":3000000001914,"stockCode":"001914","stockType":"fund","areaCode":"cn","followedNum":1,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2015-10-18T16:00:00.000Z","setUpScale":1835210000,"market":"a","tickerId":1914,"custody":"北京银行股份有限公司","name":"中信建投聚利混合型证券投资基金","shortName":"中信建投聚利A","fundSecondLevel":"hybrid","__csrcFundId":4316,"fundStatus":"normal","lastUpdated":"2024-05-16T10:28:51.165Z","masterFundFlag":1,"inceptionDate":"2015-11-10T16:00:00.000Z","memoNum":1,"fundCollectionId":4000050840000,"currency":"CNY","masterFundShortName":"中信建投聚利","pinyin":"zxjtjlhhxzqtzjj","managers":[{"stockCode":"j101020449","stockType":"fund_manager","exchange":"fm","tickerId":2610259140,"name":"张剑"}]},"announcement":{"linkText":"中信建投聚利混合型证券投资基金2022年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=730026","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec6037fea5b3eb0450a5d","date":"2021-12-30T16:00:00.000Z","stockId":3000000001914,"sao":"回顾2021年，碳达峰、碳中和成为资本市场主要驱动因素。政府在碳达峰、碳中和开局之年，一方面在新能源产业发展上政策持续加码支持，另一方面在碳排放大户的行业加大供给收缩力度，从而造成一批行业供需错配。加之国内货币政策转紧时间短暂，反而在7月份开始转向放松，美联储货币政策收紧迟迟没有启动，直到11月份才迈出一小步。流动性充裕进一步放大了供需错配行业的投资机会。固收方面，央行7月份降准之后，组合大幅提高国债久期，因而一定程度受益国债收益率下降的投资机会，但是较为遗憾，组合没能参与转债的结构性投资机会。权益方面，组合在4月份净值大幅回撤之后没有大幅降低持仓比例，只是通过积极调整行业及个股结构来寻求投资机会，全年基金净值得以获得一定涨幅。但是在结构性投资机会把握不够充分，组合业绩存在一定程度差强人意。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:07:15.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