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定、PEG适中的行业或板块，如家电、部分环保和食饮，以及高股息等方向。成长端：医药/消AI/半导体。","declarationDate":"2024-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:25:37.860Z","mo":"展望2024年上半年，以出口“新三样”为代表的经济新动能虽然增速喜人，但PPI和CPI仍然为负。在房地产行业趋稳之前，宏观经济复苏的道路仍然道阻且长。在中央经济工作会议定调“以进促稳”的基调下，“稳经济”的政策有望持续发力。沪深300自2021年2月以来的调整，已经充分反映国内经济基本面存在的问题。随着经济基本面继续缓慢修复，我们认为对这类资产不应继续过度悲观。当前我们看好有稳定运营商业模式，且受益于经济修复的顺周期行业，如煤炭、家电、运营商和石油开采等行业。另一方面，我们也看好估值调整充分的医药和部分TMT标的。","fund":{"_id":3000000007032,"stockCode":"007032","shortName":"平安可转债A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":7032,"lastUpdated":"2026-08-28T13:16:19.323Z","status":"normal","inceptionDate":"2019-08-06T16:00:00.000Z","name":"平安可转债债券型证券投资基金","exchange":"jj","followedNum":6,"fundCollectionId":4000050640000,"currency":"CNY","pinyin":"pakzzzqxzqtzjj","masterFundShortName":"平安可转债","__csrcFundId":6426,"managers":[{"stockCode":"j101019908","stockType":"fund_manager","exchange":"fm","tickerId":122420248890,"name":"李晓天"},{"stockCode":"j101020573","stockType":"fund_manager","exchange":"fm","tickerId":102617250320,"name":"江正清"}]},"announcement":{"linkText":"平安可转债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=1050504","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeca517fea5b3eb04a1162","date":"2023-09-29T16:00:00.000Z","stockId":3000000007032,"sao":"2023年3季度，7月重要会议对房地产行业的供求关系进行了重新定义，针对房地产行业供给端的政策约束逐步打开。但二手房挂牌量继续上升，反映居民端仍然对房价缺乏信心。另外，考虑到我国居民主要财富都集中在房产上，二手房流动性下降，也进一步影响到了居民端的消费行为。PMI自4月后持续5个月低于50，在9月终于重回50以上。经济基本面呈现缓慢修复的态势，但目前房地产“缺位”，新增长动能尚未能替代房地产对经济的支撑作用。美国就业和通胀仍然表现强劲，“强美元”加“高美债”导致全球流动性向美国集中。受内外部宏观环境影响，WIND全A指数在3季度继续下跌超3%。　　三季度本基金保持了投资组合的流动性，债券资产主要配置中短期限的中高等级信用债，波段操作长端利率债和高等级信用债，小仓位参与了部分高信用等级的平衡型转债标的，继续坚持分散投资的策略，持有商业模式稳定的低估值投资标的。","declarationDate":"2023-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:25:37.858Z","fund":{"_id":3000000007032,"stockCode":"007032","shortName":"平安可转债A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":7032,"lastUpdated":"2026-08-28T13:16:19.323Z","status":"normal","inceptionDate":"2019-08-06T16:00:00.000Z","name":"平安可转债债券型证券投资基金","exchange":"jj","followedNum":6,"fundCollectionId":4000050640000,"currency":"CNY","pinyin":"pakzzzqxzqtzjj","masterFundShortName":"平安可转债","__csrcFundId":6426,"managers":[{"stockCode":"j101019908","stockType":"fund_manager","exchange":"fm","tickerId":122420248890,"name":"李晓天"},{"stockCode":"j101020573","stockType":"fund_manager","exchange":"fm","tickerId":102617250320,"name":"江正清"}]},"announcement":{"linkText":"平安可转债债券型证券投资基金2023年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=986017","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeca517fea5b3eb04a1161","date":"2023-06-29T16:00:00.000Z","stockId":3000000007032,"sao":"运作期内，鉴于经济偏弱的环境和流动性偏松的背景，组合采取了偏高的杠杆运行，一季度疫后回补后经济继续转入主动去库的周期，整体市场偏主题投资，组合适度参与了以AI为代表的主题投资的机会。","declarationDate":"2023-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:25:37.855Z","mo":"基本面层面，当前处于库存周期的尾部，但主动去库向被动去库的转化依然不明显，如果没有强有力的政策出台，本轮库存周期大概率是偏弱的一轮周期，海外由于美国经济的韧性，库存也处于周期的尾部位置，有希望看到库存周期的共振。国内核心的问题依然是房企资产负债表恶化后对于投资的负向拉动以及居民信心的修复问题，随着宏观政策的落地，有望看到边际的改善。资金面层面预期仍以宽松为主。转债资产的估值水平依然偏高，且估值不存在继续抬升的基础，需要警惕估值压缩的风险，随着政策的推动和基本面拐点的逐步确认尤其是库存周期拐点的确认，转债资产有望跟随权益资产，但弹性大概率弱于权益资产。","fund":{"_id":3000000007032,"stockCode":"007032","shortName":"平安可转债A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":7032,"lastUpdated":"2026-08-28T13:16:19.323Z","status":"normal","inceptionDate":"2019-08-06T16:00:00.000Z","name":"平安可转债债券型证券投资基金","exchange":"jj","followedNum":6,"fundCollectionId":4000050640000,"currency":"CNY","pinyin":"pakzzzqxzqtzjj","masterFundShortName":"平安可转债","__csrcFundId":6426,"managers":[{"stockCode":"j101019908","stockType":"fund_manager","exchange":"fm","tickerId":122420248890,"name":"李晓天"},{"stockCode":"j101020573","stockType":"fund_manager","exchange":"fm","tickerId":102617250320,"name":"江正清"}]},"announcement":{"linkText":"平安可转债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=956224","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeca517fea5b3eb04a1160","date":"2023-03-30T16:00:00.000Z","stockId":3000000007032,"sao":"当前经济仍处于磨底阶段，去库周期下经济弹性较弱，高频数据变动带来预期的扰动，整体经济方向分歧不大，更多的是节奏，而市场更多是预期的摆动。报告期内，出于基本面偏弱和流动性偏松的考量，可转债估值压力相对较轻，组合采取均衡的配置，重点关注消费和科技方向，消费方向更多以航空、酒店等场景消费修复的方向为主，科技方向更多关注产业趋势明确且周期位置靠前的AI方向。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:25:37.853Z","fund":{"_id":3000000007032,"stockCode":"007032","shortName":"平安可转债A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":7032,"lastUpdated":"2026-08-28T13:16:19.323Z","status":"normal","inceptionDate":"2019-08-06T16:00:00.000Z","name":"平安可转债债券型证券投资基金","exchange":"jj","followedNum":6,"fundCollectionId":4000050640000,"currency":"CNY","pinyin":"pakzzzqxzqtzjj","masterFundShortName":"平安可转债","__csrcFundId":6426,"managers":[{"stockCode":"j101019908","stockType":"fund_manager","exchange":"fm","ticker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