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良好，出口线条在海外订单转移至国内等因素驱动下尤其亮眼，房地产、制造业表现相对较好，消费恢复略有滞后，基建略低于预期。在此背景下货币政策回归正常，本次对冲性宽松退出时点较早，也体现出决策层对货币政策偏中性的态度的决心。在以上背景下，债券市场维持弱势，收益率整体向上，久期收益贡献整体为负，信用票息价值相对凸显。权益市场表现亮眼，受流动性、业绩推动，消费、医药、高端制造等标的录得明显涨幅，但部分标的由于估值偏高问题在三季度中后期波动也有明显加大，我们认为主要由于流动性以及其预期的波动导致。  三季度的债券市场投资策略以短久期、吃票息策略为主，权益以积极的仓位获取成长性以及确定性带来的超额回报；组合在权益市场相对高位成立，初期运作以债券打底获取票息为主，维持权益相对较低的仓位，控制组合的回撤风险。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:36:37.432Z","fund":{"_id":3000000009671,"__csrcFundId":7764,"stockCode":"009671","shortName":"平安恒泽混合(009671)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9671,"masterFundFlag":1,"lastUpdated":"2026-04-30T21:55:53.793Z","status":"normal","inceptionDate":"2020-07-14T16:00:00.000Z","name":"平安恒泽混合型证券投资基金","exchange":"jj","followedNum":0,"fundCollectionId":4000050640000,"currency":"CNY","masterFundShortName":"平安恒泽混合","setUpDate":"2020-07-14T16:00:00.000Z","setUpAssetScale":721745429,"setUpShares":721745429,"pinyin":"pahzhhxzqtzjj","managers":[{"stockCode":"db20839534","stockType":"fund_manager","exchange":"fm","tickerId":120202226710,"name":"刘斌斌"}]},"announcement":{"linkText":"平安恒泽混合型证券投资基金2020年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=486534","linkType":"PDF","source":"csrc_pdf"}}]}