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十足，消费制造业投资缓慢修复，进出口表现超出预期。10年期国债收益率大幅波动，但年初年末收益率基本持平；信用债走势分化，高资质品种好于低资质品种。  本基金在报告期内采用稳健积极的投资策略，参与了利率债波段交易，并用小部分仓位参与了可转债的投资交易。感谢持有人支持，我们将继续努力为持有人带来优异回报。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:33:51.708Z","mo":"受低基数和后疫情时期经济恢复的影响，2021年经济数据大概率前高后低。在融资环境收紧的条件下，房地产和基建投资都有回落风险，制造业投资可能成为全年经济亮点。消费回升幅度取决于疫情管控力度，管控程度大概率弱于去年，消费复苏可期，但需观察居民可支配收入和人口变化对消费回升幅度的影响；海外复工复产可能使得中国出口替代效应减弱，美国财政补贴退坡后海外需求可能有所回落，同时叠加人民币升值，出口对经济的贡献预计会有所收窄。通胀方面，全球经济复苏与需求回暖带动核心CPI与PPI中枢抬升，但通胀压力整体可控。货币政策方面，中央经济工作会议明确指出政策“不急转弯”，预计政策转向的节奏温和，整体上仍将维持稳健基调。利率债收益率全年震荡的可能性较大，下半年机会大于上半年。信用债分化可能进一步加剧，仍需重点关注信用风险。","fund":{"_id":3000000009018,"__csrcFundId":7261,"stockCode":"009018","shortName":"西部利得聚泰18个月定开债A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":9018,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:49.548Z","status":"normal","inceptionDate":"2020-03-24T16:00:00.000Z","name":"西部利得聚泰18个月定期开放债券型证券投资基金","exchange":"jj","followedNum":5,"fundCollectionId":4000050620000,"currency":"CNY","masterFundShortName":"西部利得聚泰18个月定开债","setUpDate":"2020-03-24T16:00:00.000Z","setUpAssetScale":348780854.37,"setUpShares":348780854.37,"pinyin":"xbldjt18gydqkfzqxzqtzjj","memoNum":1,"managers":[{"stockCode":"8801471711","stockType":"fund_manager","exchange":"fm","tickerId":252625170810,"name":"严志勇"},{"stockCode":"db20798947","stockType":"fund_manager","exchange":"fm","tickerId":120118213750,"name":"李安然"},{"stockCode":"j101020049","stockType":"fund_manager","exchange":"fm","tickerId":1024240180,"name":"计旭"}]},"announcement":{"linkText":"西部利得聚泰18个月定期开放债券型证券投资基金2020年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=553505","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc3f7fea5b3eb04c47e7","stockId":3000000009018,"sao":"报告期内，疫情影响减弱，国内宏观经济继续修复，货币政策逐渐趋于稳健中性，债券收益率大幅上行。具体来说，7月初股市连续上涨，“股债跷跷板”效应明显，债市走熊；8月份，银行超储率接近历史低位水平，货币市场利率大幅走高，存单利率节节攀升，叠加利率债大量供给，债券收益率震荡上行；进入9月份，经济数据继续好转，就业企稳，制造业PMI指数为51.5%，连续7个月位于临界点以上，生产需求同步走强，央行频繁展开逆回购操作保持流动性合理充裕，债券市场宽幅震荡。整体看，三季度10年国开债收益率上行超过60BP，5年AAA中票收益率上行29BP，信用债表现优于利率债。本基金在报告期内采用稳健积极的投资策略，增配了中短久期信用债，维持较高的杠杆进行套息，并用不超过20%仓位参与了可转债的投资交易。感谢持有人的支持，我们将继续以诚实信用、勤勉尽责的原则管理基金，努力为持有人带来优异回报。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-27T16:00:00.000Z","lastUpdated":"2026-03-09T13:33:51.701Z","fund":{"_id":3000000009018,"__csrcFundId":7261,"stockCode":"009018","shortName":"西部利得聚泰18个月定开债A","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":9018,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:49.548Z","status":"normal","inceptionDate":"2020-03-24T16:00:00.000Z","name":"西部利得聚泰18个月定期开放债券型证券投资基金","exchange":"jj","followedNum":5,"fundCollectionId":4000050620000,"currency":"CNY","masterFundShortName":"西部利得聚泰18个月定开债","setUpDate":"2020-03-24T16:00:00.000Z","setUpAssetScale":348780854.37,"setUpShares":348780854.37,"pinyin":"xbldjt18gydqkfzqxzqtzjj","memoNum":1,"managers":[{"stockCode":"8801471711","stockType":"fund_manager","exchange":"fm","tickerId":252625170810,"name":"严志勇"},{"stockCode":"db20798947","stockType":"fund_manager","exchange":"fm","tickerId":120118213750,"name":"李安然"},{"stockCode":"j101020049","stockType":"fund_manager","exchange":"fm","tickerId":1024240180,"name":"计旭"}]},"announcement":{"linkText":"西部利得聚泰18个月定期开放债券型证券投资基金2020年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=489373","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecc3f7fea5b3eb04c47e6","stockId":3000000009018,"sao":"2020年上半年，国内债券收益率整体呈“V”形走势。春节前，市场流动性充裕，10年国债收益率下行到3.0%；春节后至3月中，受国内外新冠疫情影响，全球各国纷纷出台宽松政策，10年国债收益率下行至2.5%附近；三月中至四月底，国内疫情有所改善，但海外疫情形势加剧，同时四月央行定向降准及下调超额存款准备金率，短端资产收益率快速下行，曲线形态陡峭化，利率维持低位震荡；4月底至6月底，随着经济逐步复苏，货币宽松预期扭转叠加债券供给压力，利率大幅反弹。本基金在报告期内采用较为稳健的投资策略，主要配置中高等级信用债，并用 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