window.pageData = {"stock":{"_id":3000000008364,"stockCode":"008364","shortName":"广发中债3-5年政金债指数","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8364,"masterFundFlag":1,"status":"normal","inceptionDate":"2020-06-23T16:00:00.000Z","indexFundFlag":1,"name":"广发中债3-5年政策性金融债指数证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000050300000,"currency":"CNY","masterFundShortName":"广发中债3-5年政金债指数","delistedDate":"2021-10-13T16:00:00.000Z","setUpDate":"2020-06-23T16:00:00.000Z","setUpAssetScale":4000551934.39,"setUpShares":4000551934.39,"fundCollection":{"exchange":"jjgs","stockType":"fund_collection","stockCode":"50300000","tickerId":50300000,"name":"广发基金管理有限公司"},"hotMetrics":{"fp":{"stockId":3000000008364,"type":"fp","last_data_date":"2021-10-13T16:00:00.000Z","f_p_r_fys":0.017027168979027785,"f_p_r_m1":-0.007650590741816843,"f_p_r_m3":-0.00388670980270589,"f_p_r_m6":0.009733428598295957,"f_p_r_y1":0.03014433326654209,"f_cagr_p_r_fs":0.02974086232853379}},"masterSlaveFunds":[]},"list":[{"_id":"69aecb957fea5b3eb04b8668","date":"2021-09-29T16:00:00.000Z","stockId":3000000008364,"sao":"本季度，债市收益率先下行后震荡，收益率曲线先陡峭后平坦。7月初，央行进行降准操作，一方面扭转了市场对于货币政策紧缩的预期，另一方面加剧了投资者对于基本面下行的担忧，各品种收益率均明显下行。8月起，虽然基本面走弱的趋势仍在延续，但受制于财政后置、信贷政策边际调整等因素导致的宽信用预期的升温，市场整体处于盘整状态。组合本季度紧密跟踪指数久期等关键风险因子的变化，在抽样复制的基础之上，增强持仓品种的流动性。展望下季度，经济基本面走弱的压力依然存在，尤其是疫情冲击下的消费以及地产链条。但建筑业施工改善、信贷政策边际调整，有助于降低基本面失速下行的风险，债券市场整体仍将处于震荡格局。组合将继续紧密跟踪指数走势，注重底层资产的流动性变化，及时进行调仓换券操作。","declarationDate":"2021-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:31:01.995Z","fund":{"_id":3000000008364,"__csrcFundId":7524,"stockCode":"008364","shortName":"广发中债3-5年政金债指数","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8364,"masterFundFlag":1,"lastUpdated":"2023-11-03T03:25:59.783Z","status":"normal","inceptionDate":"2020-06-23T16:00:00.000Z","indexFundFlag":1,"name":"广发中债3-5年政策性金融债指数证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000050300000,"currency":"CNY","masterFundShortName":"广发中债3-5年政金债指数","delistedDate":"2021-10-13T16:00:00.000Z","setUpDate":"2020-06-23T16:00:00.000Z","setUpAssetScale":4000551934.39,"setUpShares":4000551934.39},"announcement":{"linkText":"广发中债3-5年政策性金融债指数证券投资基金2021年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=650430","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb957fea5b3eb04b8667","date":"2021-06-29T16:00:00.000Z","stockId":3000000008364,"sao":"2021年上半年，债市呈现震荡上涨的行情，收益率先上后下，信用利差持续压缩。年初，资金面波动明显加大，春节前一度较为紧张，随后央行明确货币政策短期内不会收紧，资金面持续宽松。基本面角度，经济景气度较去年四季度略有回落，3月各项数据有所回暖；二季度经济数据表现弱于此前预期，内需中建筑业相关的行业出现筑顶迹象，服务消费和制造业投资缓慢修复，外需开始边际走弱。和去年年末点位相比，利率债收益率小幅下行，期限利差变化不大。上半年，组合紧密跟踪指数久期等关键风险因子的变化，在抽样复制的基础上，增强持仓品种的流动性，紧密跟踪指数走势。","declarationDate":"2021-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:31:01.993Z","mo":"展望下半年，经济基本面将继续缓步下行，对债市的影响偏利多。近期国常会明确提及降准，之后央行迅速落实，奠定了货币政策未来一段时间内中性偏宽松的基调，预计债市出现大的调整风险概率较小，债券利率区间震荡、中枢小幅下移的概率较大。组合将继续紧密跟踪指数走势，注重底层资产的流动性变化，及时进行调仓换券操作。","fund":{"_id":3000000008364,"__csrcFundId":7524,"stockCode":"008364","shortName":"广发中债3-5年政金债指数","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8364,"masterFundFlag":1,"lastUpdated":"2023-11-03T03:25:59.783Z","status":"normal","inceptionDate":"2020-06-23T16:00:00.000Z","indexFundFlag":1,"name":"广发中债3-5年政策性金融债指数证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000050300000,"currency":"CNY","masterFundShortName":"广发中债3-5年政金债指数","delistedDate":"2021-10-13T16:00:00.000Z","setUpDate":"2020-06-23T16:00:00.000Z","setUpAssetScale":4000551934.39,"setUpShares":4000551934.39},"announcement":{"linkText":"广发中债3-5年政策性金融债指数证券投资基金2021年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=628730","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb957fea5b3eb04b8666","stockId":3000000008364,"sao":"本季度，债市呈现窄幅震荡行情，收益率先上行后下行，曲线小幅走平。资金面波动明显加大，春节前一度较为紧张，3月份超预期宽松。从基本面来看，工业生产在出口高景气度的拉动下继续加速，并且结合工业品价格以及产销率来看也并未出现明显的被动补库存局面。但消费数据仍然偏弱，这与核心CPI较差保持一致。另外，失业率在2月处于年内目标附近，保就业诉求同样要求货币政策短期内不会明确收紧。全季来看，利率债收益率曲线变平，超长端利率小幅下行，其余关键期限收益率平坦化上移。组合本季度紧密跟踪指数久期等关键风险因子的变化，在抽样复制的基础之上，增强持仓品种的流动性，相对跑赢指数。展望下季度，开工进入旺季，制造业、基建有望上行，经济景气度较一季度将有所回升；与此同时，二季度尤其是5月份，地方债发行量较大，潜在供需对比恶化。但领先的社融增速拐点已经出现，债市利多因素也在不断积累，此外货币政策的“不急转弯”意味着后续利率大幅上行的空间不大。组合将继续紧密跟踪指数走势，注重底层资产的流动性变化，及时进行调仓换券操作。","date":"2021-03-30T16:00:00.000Z","declarationDate":"2021-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:31:01.990Z","fund":{"_id":3000000008364,"__csrcFundId":7524,"stockCode":"008364","shortName":"广发中债3-5年政金债指数","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8364,"masterFundFlag":1,"lastUpdated":"2023-11-03T03:25:59.783Z","status":"normal","inceptionDate":"2020-06-23T16:00:00.000Z","indexFundFlag":1,"name":"广发中债3-5年政策性金融债指数证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000050300000,"currency":"CNY","masterFundShortName":"广发中债3-5年政金债指数","delistedDate":"2021-10-13T16:00:00.000Z","setUpDate":"2020-06-23T16:00:00.000Z","setUpAssetScale":4000551934.39,"setUpShares":4000551934.39},"announcement":{"linkText":"广发中债3-5年政策性金融债指数证券投资基金2021年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=568430","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb957fea5b3eb04b8665","stockId":3000000008364,"sao":"2020年，债市收益率先下降后上升，宽幅震荡，年底市场情绪有所回暖。一季度，市场先后受到国内、海外疫情对经济基本面冲击的影响，并且受益于资金面的宽松，债市收益率持续走低，收益率曲线陡峭化下行。二季度开始，一方面国内疫情得到控制，经济重启加速推进，进入渐进修复阶段，出口数据持续超预期；另一方面市场资金面预期逐步向常态化宽松修正，资金利率稳步抬升，各期限利率均出现明显调整，收益率曲线平坦化上行。年底，信用风险事件冲击的背景下，货币政策短期维稳，存单利率见顶回落，市场做多热情高涨。组合本年度在建仓期内，为规避市场波动，进行了一定的择时波段操作，增厚组合收益。建仓期结束时，为控制净值波动，组合久期仍维持负偏离状态。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:31:01.987Z","mo":"展望2021年，经济基本面仍将处于上行趋势，但社融增速的回落对于经济增速的下拉作用已逐渐显现，债市利多因素在慢慢积累。短期内，供需缺口拉动出口的逻辑仍然成立，需要重点关注海外疫苗接种进展。预计2021年上半年经济基本面仍在上行通道，不支持货币政策过度宽松。但考虑到货币政策实质性收紧概率偏低、下半年基本面预期走弱等因素，利率中枢上抬幅度也不会很大。我们将密切跟踪出口景气度的变化，一旦基本面因素逆转，债市将迎来配置性行情机会。本组合将紧密跟踪指数走势，注重底层资产的流动性变化。","fund":{"_id":3000000008364,"__csrcFundId":7524,"stockCode":"008364","shortName":"广发中债3-5年政金债指数","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8364,"masterFundFlag":1,"lastUpdated":"2023-11-03T03:25:59.783Z","status":"normal","inceptionDate":"2020-06-23T16:00:00.000Z","indexFundFlag":1,"name":"广发中债3-5年政策性金融债指数证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000050300000,"currency":"CNY","masterFundShortName":"广发中债3-5年政金债指数","delistedDate":"2021-10-13T16:00:00.000Z","setUpDate":"2020-06-23T16:00:00.000Z","setUpAssetScale":4000551934.39,"setUpShares":4000551934.39},"announcement":{"linkText":"广发中债3-5年政策性金融债指数证券投资基金2020年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=554306","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb957fea5b3eb04b8664","stockId":3000000008364,"sao":"本季度，债市收益率震荡上行，信用利差压缩，曲线平坦化。7月初，权益市场整体大幅上涨，对债市情绪造成了明显的负面冲击。经济基本面延续修复进程，出口表现持续强劲，在未发生大的外部风险的情况下，较难出现债券市场大的趋势性做多机会。同时，以超储率衡量的流动性总量水平偏低，银行体系的中长期负债端压力仍然不稳定。一级发行高峰、缴税缴款等资金面的冲击因素容易阶段性地对债市形成压力。整体而言，在经历了前期的急跌之后，债市行情逐渐步入慢熊阶段，收益率上行节奏趋缓，呈现区间震荡、中枢抬升的走势。组合本季度处于建仓期，在市场利率中枢抬升的过程中，逐步建仓。展望下季度，基本面的变化仍是决定利率的中期走势的重要因素，资金面的波动影响利率走势的节奏变化。央行的目标体系中“稳增长”的诉求意味着货币政策并没有实质性收紧的基础，但“防风险”的考虑也意味着货币政策难以大幅转向宽松，而是将根据经济增长情况灵活调整目标顺位，需关注资金利率预期变化对市场的冲击。组合未来将逐步完成建仓操作，之后将紧密跟踪指数走势，适当进行利率的波段操作。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-27T16:00:00.000Z","lastUpdated":"2026-03-09T13:31:01.984Z","fund":{"_id":3000000008364,"__csrcFundId":7524,"stockCode":"008364","shortName":"广发中债3-5年政金债指数","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8364,"masterFundFlag":1,"lastUpdated":"2023-11-03T03:25:59.783Z","status":"normal","inceptionDate":"2020-06-23T16:00:00.000Z","indexFundFlag":1,"name":"广发中债3-5年政策性金融债指数证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000050300000,"currency":"CNY","masterFundShortName":"广发中债3-5年政金债指数","delistedDate":"2021-10-13T16:00:00.000Z","setUpDate":"2020-06-23T16:00:00.000Z","setUpAssetScale":4000551934.39,"setUpShares":4000551934.39},"announcement":{"linkText":"广发中债3-5年政策性金融债指数证券投资基金2020年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=490878","linkType":"PDF","source":"csrc_pdf"}}]}