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一季度给基金贡献了一定的收益。考虑到基金的波动幅度和回撤控制，我们在季度中将转债仓位回归到了相对中性的比例，未来将继续努力挖掘结构性机会。　　纯债方面，我们在收益率较合适的时候适度增配了信用债和金融债，并提升了一定组合的久期和杠杆。未来纯债部分将力争为基金持续提供一个稳定的收益贡献。","declarationDate":"2023-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:31:22.350Z","fund":{"_id":3000000008452,"__csrcFundId":7023,"stockCode":"008452","shortName":"兴全恒鑫债券A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8452,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:48.533Z","status":"normal","inceptionDate":"2020-01-19T16:00:00.000Z","name":"兴全恒鑫债券型证券投资基金","exchange":"jj","followedNum":6,"fundCollectionId":4000050310000,"currency":"CNY","masterFundShortName":"兴全恒鑫债券","setUpDate":"2020-01-19T16:00:00.000Z","setUpAssetScale":1396363203.64,"setUpShares":1396363203.64,"pinyin":"xqhxzqxzqtzjj","managers":[{"stockCode":"db20843740","stockType":"fund_manager","exchange":"fm","tickerId":262606224520,"name":"朱喆丰"},{"stockCode":"j101020082","stockType":"fund_manager","exchange":"fm","tickerId":22408257120,"name":"卜学欢"}]},"announcement":{"linkText":"兴全恒鑫债券型证券投资基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=889733","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecbaa7fea5b3eb04b9cc7","date":"2022-12-30T16:00:00.000Z","stockId":3000000008452,"sao":"2022年全年市场波动较大，本基金在运作过程中也面临了一定挑战。　　纯债收益率前三季度震荡下行，但在四季度出现了较为集中的调整和踩踏。本基金在前三季度逐步减持了部分较长久期债，全年维持了中性相对偏低的久期。　　转债市场方面，中证转债指数全年下行10.02%，全年出现了较大波动和跌幅。一季度转债市场在较高估值的背景下跟随权益市场出现大幅杀跌，基金期初进行了一定减仓控制回撤；2-3季度权益市场和转债出现明显反弹，但四季度转债面临了权益市场调整和纯债流动性冲击的双重压力，全年收官跌幅较大。本基金在四季度逆向增持了部分估值合理、弹性较好的转债，提升了一定转债仓位。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:31:22.347Z","mo":"展望2023年，国内经济将迎来复苏，但考虑到整体外部因素的不确定性和诸多长期因素影响，预计纯债利率上行的空间有限。同时综合考虑到目前市场的风险溢价水平、股债收益比，权益类资产的结构性机会将逐步显现。转债的估值大致处于中性水平，需要关注转债的下行风险和弹性空间，策略上重视一定的条款博弈机会，结构上以动态的视角把握结构性机会。","fund":{"_id":3000000008452,"__csrcFundId":7023,"stockCode":"008452","shortName":"兴全恒鑫债券A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8452,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:48.533Z","status":"normal","inceptionDate":"2020-01-19T16:00:00.000Z","name":"兴全恒鑫债券型证券投资基金","exchange":"jj","followedNum":6,"fundCollectionId":4000050310000,"currency":"CNY","masterFundShortName":"兴全恒鑫债券","setUpDate":"2020-01-19T16:00:00.000Z","setUpAssetScale":1396363203.64,"setUpShares":1396363203.64,"pinyin":"xqhxzqxzqtzjj","managers":[{"stockCode":"db20843740","stockType":"fund_manager","exchange":"fm","tickerId":262606224520,"name":"朱喆丰"},{"stockCode":"j101020082","stockType":"fund_manager","exchange":"fm","tickerId":22408257120,"name":"卜学欢"}]},"announcement":{"linkText":"兴全恒鑫债券型证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=871537","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecbaa7fea5b3eb04b9cc6","date":"2022-09-29T16:00:00.000Z","stockId":3000000008452,"sao":"报告期内基金纯债部分运作以持有、票息策略为主。转债市场跟随权益市场波动较大，股债性价比逐渐逼近历史极值附近。权益市场虽然仍面临较多不确定性，但估值已具备明显性价比。转债由于其股债混合的特性，估值处于合理较低估状态。本基金在市场调整过程中逐步增配了估值合理、未来成长性较好的转债品种。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:31:22.345Z","fund":{"_id":3000000008452,"__csrcFundId":7023,"stockCode":"008452","shortName":"兴全恒鑫债券A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8452,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:48.533Z","status":"normal","inceptionDate":"2020-01-19T16:00:00.000Z","name":"兴全恒鑫债券型证券投资基金","exchange":"jj","followedNum":6,"fundCollectionId":4000050310000,"currency":"CNY","masterFundShortName":"兴全恒鑫债券","setUpDate":"2020-01-19T16:00:00.000Z","setUpAssetScale":1396363203.64,"setUpShares":1396363203.64,"pinyin":"xqhxzqxzqtzjj","managers":[{"stockCode":"db20843740","stockType":"fund_manager","exchange":"fm","tickerId":262606224520,"name":"朱喆丰"},{"stockCode":"j101020082","stockType":"fund_manager","exchange":"fm","tickerId":22408257120,"name":"卜学欢"}]},"announcement":{"linkText":"兴全恒鑫债券型证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=807429","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecbaa7fea5b3eb04b9cc5","date":"2022-06-29T16:00:00.000Z","stockId":3000000008452,"sao":"报告期内基金纯债部分运作以持有、票息策略为主，控制信用风险，纯债持仓跟随基金规模的变化做了适度减持。  转债市场跟随权益市场波动较大，出现了先跌后涨的走势，截止半年末转债整体的溢价率和估值重新回到了较高的水平。本基金在前期提前进行了减仓和结构调整，并在权益市场回暖过程中逐步增配了估值合理、回撤空间可控的品种，运作期内转债部分给组合贡献了明显的正收益。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:31:22.342Z","mo":"展望下半年，宏观经济修复斜率偏缓，后续政策强刺激空间有限，预计宏观经济会呈现环比弱复苏状态。随着美联储加息以及海外经济衰退可能，出口将面临一定不确定性。在上述的背景下，国内证券市场整体流动性仍将维持合理充裕水平，债券收益率预计在维持在低位，转债不乏结构性机会。可转债行业上主要将着力于挖掘新能源、TMT等成长板块的机会。","fund":{"_id":3000000008452,"__csrcFundId":7023,"stockCode":"008452","shortName":"兴全恒鑫债券A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8452,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:48.533Z","status":"normal","inceptionDate":"2020-01-19T16:00:00.000Z","name":"兴全恒鑫债券型证券投资基金","exchange":"jj","followedNum":6,"fu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