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-12-30T16:00:00.000Z","stockId":3000000008818,"sao":"报告期内，海外主要经济体进入加息缩表周期，带动全球风险资产波动加大。国内基本面在11月之前面临需求收缩、供给冲击、预期转弱的格局，但随着防疫政策和地产政策的调整，预期由弱转强。具体来看，外需全年有所减弱，出口指标在高基数和海外经济体需求下行的双重背景下持续走低；因地产销售疲软，地产投资影响固定资产投资的增速；消费随着防疫政策的调整，信心逐步恢复；工业生产保持在合理区间。债券市场广谱收益率呈V型走势，前三季度保持整体收益率震荡下行，四季度随着政策调整的预期改变收益率快速上行。本基金主要基于基本面进行投资，根据资金面的情况，在合理息差下阶段性采取套息策略。利率债方面根据基本面预期差把握收益率下行波段提升组合收益，信用债方面严控信用风险，结合企业基本面、财务状况及债务负担，精选信用品种。","declarationDate":"2023-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:32:56.794Z","mo":"从宏观层面往后看，经济复苏趋势明显，消费修复将是本轮经济复苏的主力，商务消费、服务消费预计将表现出一定的弹性。制造业投资增速也将随着经济活力的恢复而逐步向上。但同时也要看到，发达经济体本轮加息幅度相比更快，海外经济体已经表现出一定的衰退迹象，或将持续影响外需，拖累基本面。基建投资因赤字率和防控债务风险的制约，弹性空间也不大。债券市场方面，收益率或将维持宽幅震荡。货币政策为支持经济增长，仍将采取宽信用的方向，带动社会融资规模增速的企稳回升，同时将继续维持流动性的合理充裕。财政政策将继续加力提效，在约束财政纪律的同时增进民生支出。利率品波动加大，将带来更多交易机会。信用品收益率弹性或将增加。","fund":{"_id":3000000008818,"__csrcFundId":7794,"stockCode":"008818","shortName":"汇安恒鑫12个月定开纯债债券(008818)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8818,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:27:58.566Z","status":"normal","inceptionDate":"2020-09-17T16:00:00.000Z","name":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000051300000,"currency":"CNY","masterFundShortName":"汇安恒鑫12个月定开纯债债券","setUpDate":"2020-09-17T16:00:00.000Z","setUpAssetScale":510021950.04,"setUpShares":510021950.04,"pinyin":"hahx12gydqkfczzqxfqszqtzjj","managers":[{"stockCode":"j101019804","stockType":"fund_manager","exchange":"fm","tickerId":231225246240,"name":"吴乐玉"}]},"announcement":{"linkText":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=870887","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc087fea5b3eb04c08d3","date":"2022-09-29T16:00:00.000Z","stockId":3000000008818,"sao":"三季度以来，海内外宏观经济走势步入不同的周期节奏。美联储基于强劲的就业和高企的通胀，加快了加息的步伐；国内在地产投资增速降低和消费偏弱的背景下，中国央行调降了政策利率并引导了贷款报价利率的进一步下行。出口增速拐点逐步显现，海内外基本面边际变化的差异引发了汇率波动，但贬值的幅度相对可控。债券市场三季度以来在基本面和政策面的带动下，逐步走强，收益率曲线进一步下移并趋陡。本基金侧重于基于流动性拐点和基本面拐点带来的交易性机会，运用中端品种进行资本利得的交易，并通过加大杠杆策略，获取中短端的配置收益和套息收益。展望后市，在基本面缓步复苏的背景下，政策仍将在降成本和宽信用等方面继续发力，货币政策在稳健的基调下仍将保持流动性的合理充裕，财政政策将在收支两端不断提质增效。债券市场利率将围绕政策利率进行波动并带来更多的交易机会。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:32:56.791Z","fund":{"_id":3000000008818,"__csrcFundId":7794,"stockCode":"008818","shortName":"汇安恒鑫12个月定开纯债债券(008818)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8818,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:27:58.566Z","status":"normal","inceptionDate":"2020-09-17T16:00:00.000Z","name":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000051300000,"currency":"CNY","masterFundShortName":"汇安恒鑫12个月定开纯债债券","setUpDate":"2020-09-17T16:00:00.000Z","setUpAssetScale":510021950.04,"setUpShares":510021950.04,"pinyin":"hahx12gydqkfczzqxfqszqtzjj","managers":[{"stockCode":"j101019804","stockType":"fund_manager","exchange":"fm","tickerId":231225246240,"name":"吴乐玉"}]},"announcement":{"linkText":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=805577","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc087fea5b3eb04c08d2","date":"2022-06-29T16:00:00.000Z","stockId":3000000008818,"sao":"报告期内，美联储启动了新一轮加息，并进行了缩表，美债收益率大幅上行后高位震荡，美股走熊。俄乌战争的开启和演化对全球经济和通胀的修复带来了更大不确定性。国内基本面，工业生产保持恢复态势，消费在疫后有所恢复但仍低于预期，地产销售逐步在低位走稳，基建是维持经济稳定的主要动力，出口仍保持较强韧性。政策面上，财政方面的政府债券发行前置以推动基建投资尽早发力，货币政策与财政政策联动，上缴利润补充财政资金，着力稳增长保民生，通过一系列宽信用政策推动信贷和社融的持续企稳。广谱债券收益率中枢抬升，本基金通过捕捉流动性拐点及基本面边际变化，积极调控组合久期，把握交易性投资机会，提升组合收益。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:32:56.789Z","mo":"展望后市，一是经济基本面修复仍将持续，外需维持相对高增，投资边际回暖稳住经济大盘，工业生产持续修复。二是通胀剪刀差仍将继续收敛，下半年PPI预计持续高位回落，CPI逐步抬升，通胀压力向消费端转移。三是宽货币或将维持，合理略偏宽裕的流动性是维持经济稳定发展的重要助力，同时宽信用政策将继续发力，社融增速也将持续回升。四是由于美国通胀持续高于预期，美联储将继续加息，但随着联邦基金利率抬升，需要提早关注海外衰退风险。人民币汇率或保持双向波动。五是中国债市收益率受益于低位资金价格，上行有顶，下行有底，或将延续区间波动。","fund":{"_id":3000000008818,"__csrcFundId":7794,"stockCode":"008818","shortName":"汇安恒鑫12个月定开纯债债券(008818)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8818,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:27:58.566Z","status":"normal","inceptionDate":"2020-09-17T16:00:00.000Z","name":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000051300000,"currency":"CNY","masterFundShortName":"汇安恒鑫12个月定开纯债债券","setUpDate":"2020-09-17T16:00:00.000Z","setUpAssetScale":510021950.04,"setUpShares":510021950.04,"pinyin":"hahx12gydqkfczzqxfqszqtzjj","managers":[{"stockCode":"j101019804","stockType":"fund_manager","exchange":"fm","tickerId":231225246240,"name":"吴乐玉"}]},"announcement":{"linkText":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金2022年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=784971","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc087fea5b3eb04c08d1","date":"2022-03-30T16:00:00.000Z","stockId":3000000008818,"sao":"报告期内，美联储启动了新一轮加息，并给出了加息指引和缩表预期，美债收益率大幅上行，美股高位震荡。俄乌战争的开启和演化对全球经济和通胀的修复带来了更大不确定性。国内基本面，1-2月经济总需求高于预期，工业生产也为经济恢复提供支撑，但地产销售面积下滑、地产投资持续低位拖累经济增长，而疫情的多点发作引发经济修复的边际扰动。政策面上，财政方面的政府债券发行前置以推动基建投资尽早发力，货币政策与上轮政策周期相似，在联储首次加息前2个月降低了政策利率，着力点在于推动信贷和社融的持续增长。广谱债券收益率呈现先下后上的V型走势，本基金通过捕捉流动性拐点及基本面边际变化，积极调控组合久期，把握交易性投资机会，提升组合收益。展望后市，海外缩表政策等待落地，联储加息周期拐点尚未到来，而输入性通胀压力仍存，国内经济基本面面临多重压力，财政货币政策进一步支持实体经济的政策空间仍较大，预计信贷社融仍将保持企稳回升势头。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:32:56.786Z","fund":{"_id":3000000008818,"__csrcFundId":7794,"stockCode":"008818","shortName":"汇安恒鑫12个月定开纯债债券(008818)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8818,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:27:58.566Z","status":"normal","inceptionDate":"2020-09-17T16:00:00.000Z","name":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000051300000,"currency":"CNY","masterFundShortName":"汇安恒鑫12个月定开纯债债券","setUpDate":"2020-09-17T16:00:00.000Z","setUpAssetScale":510021950.04,"setUpShares":510021950.04,"pinyin":"hahx12gydqkfczzqxfqszqtzjj","managers":[{"stockCode":"j101019804","stockType":"fund_manager","exchange":"fm","tickerId":231225246240,"name":"吴乐玉"}]},"announcement":{"linkText":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金2022年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=724919","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc087fea5b3eb04c08d0","date":"2021-12-30T16:00:00.000Z","stockId":3000000008818,"sao":"报告期内，由于各个国家地区疫苗接种进度的不一致，各经济体经济恢复程度不均衡。在美联储持续向市场注入流动性的同时，供需不匹配带来的大宗商品价格推升了全球通胀。在失业率维持下降趋势且通胀率不断走高的背景下，美联储加快了taper的进程并引导加息预期，而中美经济却进入了不同周期，中国央行在基本面下行压力下开展二次降准且继续释放流动性合理充裕信号。通胀层面，PPI与CPI的剪刀差于10月达到近期历史新高后震荡回落。债券市场伴随着基本面下行、准备金政策的落地及流动性充裕，广谱收益率全年呈现普遍下行的走势，十年期国债年底收于2.8%左右。本基金持续运用处于低位的资金，采取套息策略提升基础收益，并根据利率趋势，及时把握收益率拐点及市场预期差，通过利率债波段交易增厚组合收益。信用债延续分化格局，整体信用利差压缩至历史极低水平。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:32:56.783Z","mo":"展望2022年，海内外经济周期不同步，面对周期性、结构性及供给侧的现状，国内宏观政策将以我为主，维持稳中求进，货币政策推动信用增长的稳定性，财政政策积极提质增效，预计社融增速将逐步企稳回升。债券市场方面，无风险收益率在宽货币、宽信用的背景下或将维持震荡行情。","fund":{"_id":3000000008818,"__csrcFundId":7794,"stockCode":"008818","shortName":"汇安恒鑫12个月定开纯债债券(008818)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8818,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:27:58.566Z","status":"normal","inceptionDate":"2020-09-17T16:00:00.000Z","name":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000051300000,"currency":"CNY","masterFundShortName":"汇安恒鑫12个月定开纯债债券","setUpDate":"2020-09-17T16:00:00.000Z","setUpAssetScale":510021950.04,"setUpShares":510021950.04,"pinyin":"hahx12gydqkfczzqxfqszqtzjj","managers":[{"stockCode":"j101019804","stockType":"fund_manager","exchange":"fm","tickerId":231225246240,"name":"吴乐玉"}]},"announcement":{"linkText":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金2021年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=713491","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc087fea5b3eb04c08cf","date":"2021-09-29T16:00:00.000Z","stockId":3000000008818,"sao":"报告期内，国内经济基本面呈现类滞胀特征，一方面，内需相对疲软，受疫情、自然灾害及可支配收入增幅较低的影响，社会零售消费品总额两年平均增幅低于往年同期水平，同时，地产投资及销售出现下滑拐点，基建投资呈现托而不举的特征，外向型制造业相对较强，但整体制造业投资增速维持低位；另一方面，全球疫情和碳减排背景下形成了明显的供给瓶颈，部分大宗商品和海运价格不断冲击高位，挤压国内中下游企业的盈利，但整体物价水平的传导或仍缓慢。   政策面上，货币政策维持灵活精准、合理适度，尽管美联储引导taper预期的脚步渐近，但中国央行仍旧保持政策定力，以我为主，保持流动性合理充裕，资金价格维持相对低位，随着增强信贷总量增长的稳定性的政策实施，社融增速及M2的下行速率将减缓并触底回升。当前政策端将强调跨周期设计，以国内经济状况和物价走势为重心，货币政策将在维持宏观杠杆率基本稳定的同时给予实体经济以充裕的货币支持，财政政策在继续提质增效的同时将更为积极，产业政策加强供给端结构性调节，纾解当前经济运行中遭遇的供应瓶颈，经济的类滞胀特征将有所缓和。   报告期内，债券市场收益率呈现先下后上的V型走势，本基金积极利用处于低位的资金利率，采用套息策略，同时，依据货币政策拐点和基本面变化，把握收益率下行波段，力争提升组合收益。","declarationDate":"2021-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T13:32:56.781Z","fund":{"_id":3000000008818,"__csrcFundId":7794,"stockCode":"008818","shortName":"汇安恒鑫12个月定开纯债债券(008818)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8818,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:27:58.566Z","status":"normal","inceptionDate":"2020-09-17T16:00:00.000Z","name":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000051300000,"currency":"CNY","masterFundShortName":"汇安恒鑫12个月定开纯债债券","setUpDate":"2020-09-17T16:00:00.000Z","setUpAssetScale":510021950.04,"setUpShares":510021950.04,"pinyin":"hahx12gydqkfczzqxfqszqtzjj","managers":[{"stockCode":"j101019804","stockType":"fund_manager","exchange":"fm","tickerId":231225246240,"name":"吴乐玉"}]},"announcement":{"linkText":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金2021年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=653515","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc087fea5b3eb04c08ce","date":"2021-06-29T16:00:00.000Z","stockId":3000000008818,"sao":"报告期内，由于各个国家地区疫苗接种进度的不一致，各经济体经济恢复程度不均衡。在美联储持续向市场注入流动性的同时，供需不匹配带来的大宗商品价格推升了全球通胀，通胀是否为短期现象成为市场争论的焦点，在大宗商品价格的普遍快速上涨得到放缓后，需要重点观察发达国家的核心通胀是否会持续超预期。国内经济基本面持续修复，一方面，中国在全球产业链中的出口份额疫后持续位于高位，带动了工业生产的高增长；尽管受到三条红线、土地集中供应、商业银行房地产贷款融资上限等管控，地产投资依旧在保持高位的销售数据下体现出一定韧性。另一方面，今年财政政策正常化后，财政支出的显著退坡使得基建投资保持在一个较温和增长的低位；消费中社会零售商品总额的两年平均增速依旧显著低于疫情前三年均值；在消费修复较慢的背景下，制造业投资的低增速也拖累了固定资产投资。由于大宗商品带动的PPI高增和快于预期下行的猪肉批发价带动的CPI低增，通胀的上下游剪刀差逐步扩大至近年新高。货币政策稳字当头，对经济提供必要的支持，大部分时间通过持续低于公开市场逆回购操作利率的DR007和以较快速度下行的社融存量增速，表明宽货币与紧信用并存，带动整体国债收益率温和下行。本基金在报告期内，合理把握宽货币下的低位资金价格，通过资金杠杆提升套息收益；积极布局流动性拐点和基本面的预期差，把握利率债波段增厚收益。","declarationDate":"2021-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:32:56.778Z","mo":"展望后市，一是经济基本面的不均衡或将收敛，一方面体现在随着海外产业链的不断恢复，高增的出口或逐步下行，受融资政策拖累，地产增速也难保持高增长，另一方面消费尤其是可选消费将逐步抬升，结构性的信贷政策将引导资金支持制造业投资的修复。牵引经济增长的动能将从外需缓慢转向内需。二是通胀剪刀差或将缓慢回落，下半年PPI预计维持高位，CPI四季度将从低位回升，通胀压力将有结构性转变。三是宽货币或将维持，流动性合理充裕依旧是政策主线，而降低准备金率使得信用总量或在下半年触底反弹，预计拉动社融规模的主力将是人民币信贷。四是财政政策正常化依旧延续，受财政资金使用绩效管理的约束，财政支出的退坡和政府债发行低于预期将并存。五是美联储的Taper预期引导将加强，但其流动性将保持宽松，主因是就业数据的不稳定，同时叠加部分国家地区疫情的反复带来的全球暂时宽松的流动性或给我国经济政策应对外需向内需转型留出时间窗口。人民币汇率或保持略偏强的双向波动。六是中国债市处于相对高位的收益率依旧是全球固收类资金配置首选，同时利率上行有顶，下行受限，或将延续区间波动。","fund":{"_id":3000000008818,"__csrcFundId":7794,"stockCode":"008818","shortName":"汇安恒鑫12个月定开纯债债券(008818)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8818,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:27:58.566Z","status":"normal","inceptionDate":"2020-09-17T16:00:00.000Z","name":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000051300000,"currency":"CNY","masterFundShortName":"汇安恒鑫12个月定开纯债债券","setUpDate":"2020-09-17T16:00:00.000Z","setUpAssetScale":510021950.04,"setUpShares":510021950.04,"pinyin":"hahx12gydqkfczzqxfqszqtzjj","managers":[{"stockCode":"j101019804","stockType":"fund_manager","exchange":"fm","tickerId":231225246240,"name":"吴乐玉"}]},"announcement":{"linkText":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金2021年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=635168","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc087fea5b3eb04c08cd","stockId":3000000008818,"sao":"报告期内，随着疫苗的推广使用，欧美经济体部分产业链修复，美国非农就业数据连超预期，美元指数低点反弹，10年期美债收益率已回到疫情爆发前的水平，而TIPS通胀保护债券收益率有所反弹但仍为负值，美债市场隐含的通胀走高，10年期美债收益率的走高部分主因是对美债需求减弱同时经济复苏预期增强，考虑美国当前的就业人数仍比疫情前下降了900万人，美联储仍坚持宽松的立场，并将继续为美国政府庞大的经济纾困与基础建设计划提供融资，美国债券收益率上升速率最快的阶段或已过去，经济指标仍落后于潜在产出，出现全面通胀的风险较低，流动性更可能在股票、房地产等资产市场和部分供需紧平衡的大宗商品中体现。国内经济继续延续修复趋势，出口、房地产投资相对较强，制造业投资、基建投资相对较弱，总体经济增长态势不悲观。猪肉价格持续走低，CPI通胀的压力有限。两会上提出2021年的经济增长目标在6%以上，市场普遍预计今年的宏观政策重点将落在补短板，稳杠杆和调结构上。中国央行强调货币政策的常态化操作，以稳为主，保持货币政策的灵活精准、合理适度，银行间资金面个别时点波动加大，但整体仍处于相对较低的水位。期间国内利率债收益率区间窄幅震荡为主，并未跟随美债收益率大幅波动。本基金在债券投资上，把握货币政策的拐点和市场预期差，提升资本利得，同时合理利用处于低位的资金价格，采用套息策略增厚收益。展望后市，社融规模存量增速或将波动下降，货币政策仍将在稳增长和防风险之间取得平衡，货币政策正常化的态势不会轻易改变，对于大国经济体，宏观调控依旧以我为主，保持定力。债券收益率或继续呈现箱体震荡局面，本基金将积极把握收益率阶段性时点，合理调节杠杆比例，力争提升组合收益率。","date":"2021-03-30T16:00:00.000Z","declarationDate":"2021-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:32:56.775Z","fund":{"_id":3000000008818,"__csrcFundId":7794,"stockCode":"008818","shortName":"汇安恒鑫12个月定开纯债债券(008818)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8818,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:27:58.566Z","status":"normal","inceptionDate":"2020-09-17T16:00:00.000Z","name":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000051300000,"currency":"CNY","masterFundShortName":"汇安恒鑫12个月定开纯债债券","setUpDate":"2020-09-17T16:00:00.000Z","setUpAssetScale":510021950.04,"setUpShares":510021950.04,"pinyin":"hahx12gydqkfczzqxfqszqtzjj","managers":[{"stockCode":"j101019804","stockType":"fund_manager","exchange":"fm","tickerId":231225246240,"name":"吴乐玉"}]},"announcement":{"linkText":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金2021年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=572681","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc087fea5b3eb04c08cc","stockId":3000000008818,"sao":"从基本面来看，报告期内全球经历了百年一遇的新冠疫情冲击，中国经济整体呈现深V走势，一季度受到疫情拖累，进入二季度以后，生产端修复快于需求端，需求端呈现结构交替。具体来看，PMI自3月之后持续保持扩张区间，工业增加值逐步走高，消费方面从必选消费向可选消费的修复过渡，汽车等分项保持较高的同比增速，投资持续恢复态势且地产基建修复较快，出口增速基本全年维持高位。通胀方面，在全球总需求修复过程中，5月后随着商品价格震荡向上，工业品价格环比增速边际上行；受去年高基数的影响，消费者价格指数震荡回落。货币政策保持灵活适度，资金价格先下后上，整体维持流动性合理充裕。十年期国债全年整体呈震荡走势，其中11月受信用事件、基本面等多因素冲击，达到年内高点。报告期内，本基金积极把握基本面与风险偏好的变动拐点，参与利率投资波段机会，平衡配置盘与交易盘的配比，力争提升组合收益。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:32:56.773Z","mo":"展望2021年，在全球总需求回暖的背景下，疫苗的推广使用将使部分产业链逐步恢复，国内来看，生产端和需求端继续修复的态势仍将维持，CPI价格整体处于低位，PPI边际抬升，货币政策预计仍将灵活适度，证券市场在支持实体经济方面将会发挥更大作用，债券市场或将呈现震荡市。","fund":{"_id":3000000008818,"__csrcFundId":7794,"stockCode":"008818","shortName":"汇安恒鑫12个月定开纯债债券(008818)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":8818,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:27:58.566Z","status":"normal","inceptionDate":"2020-09-17T16:00:00.000Z","name":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000051300000,"currency":"CNY","masterFundShortName":"汇安恒鑫12个月定开纯债债券","setUpDate":"2020-09-17T16:00:00.000Z","setUpAssetScale":510021950.04,"setUpShares":510021950.04,"pinyin":"hahx12gydqkfczzqxfqszqtzjj","managers":[{"stockCode":"j101019804","stockType":"fund_manager","exchange":"fm","tickerId":231225246240,"name":"吴乐玉"}]},"announcement":{"linkText":"汇安恒鑫12个月定期开放纯债债券型发起式证券投资基金2020年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=559889","linkType":"PDF","source":"csrc_pdf"}}]}