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优质的公司，分享科技带来的投资机会，将重点布局算力、AI端侧、云等。　　3）红利的确定性：寻找稳定分红的、股息率较高的公司，比如：运营商、银行等。","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2013-05-08T16:00:00.000Z","setUpScale":414674000,"market":"a","tickerId":136,"custody":"中国建设银行股份有限公司","name":"民生加银策略精选灵活配置混合型证券投资基金","shortName":"民生加银策略精选混合(000136)","fundSecondLevel":"hybrid","__csrcFundId":3424,"fundStatus":"normal","lastUpdated":"2026-04-30T17:21:52.673Z","masterFundFlag":1,"inceptionDate":"2013-06-06T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银策略精选混合","memoNum":1,"pinyin":"msjycljxlhpzhhxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银策略精选灵活配置混合型证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1343120","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec177d4369c9c836d2741","date":"2025-03-30T16:00:00.000Z","stockId":3000000000136,"sao":"1季度市场看似机会比较多，但波动也挺大。2月中上旬科技板块大涨后调整近一个月，整体来看，机器人、有色、汽车等表现较好。组合依然坚持科技为主消费为辅的投资策略，科技主要是电子、通信、计算机为代表，同时辅以运营商，以及家电、汽车等优质消费公司。　　经过3月的估值消化后，我们依然比较看好市场，看好科技的投资机会，同时会更关注业绩确定且产业方向明确的公司，以及商业模式清晰和现金流好的公司，看好以下方向：　　1）业绩的确定性：寻找格局稳定、业绩增长明确的汽车、家电、消费等品牌公司。希望找到一些供给创造需求的产品公司，具备竞争力突出、企业家能力强、现金流好、商业模式清晰的企业，在国内成功后开拓海外市场。　　2）产业的确定性：技术变革或科技创新带来的产业方向，AI、智能驾驶等。3月科技板块有所调整，不改产业落地的前景，依然重点布局优质的公司，分享AI带来的投资机会，将重点布局AI端侧、云、智能驾驶、国产算力等。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T12:47:51.918Z","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2013-05-08T16:00:00.000Z","setUpScale":414674000,"market":"a","tickerId":136,"custody":"中国建设银行股份有限公司","name":"民生加银策略精选灵活配置混合型证券投资基金","shortName":"民生加银策略精选混合(000136)","fundSecondLevel":"hybrid","__csrcFundId":3424,"fundStatus":"normal","lastUpdated":"2026-04-30T17:21:52.673Z","masterFundFlag":1,"inceptionDate":"2013-06-06T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银策略精选混合","memoNum":1,"pinyin":"msjycljxlhpzhhxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银策略精选灵活配置混合型证券投资基金2025年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1272765","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec177d4369c9c836d2740","date":"2024-12-30T16:00:00.000Z","stockId":3000000000136,"sao":"2024年资本市场是一个跌宕起伏的年份，多年未见的市场，既有年初1月的恐慌性大跌，也有9月底气吞山河1000点的大涨，这种极端行情对投资是非常大的考验。整个年度，组合坚持了科技为主价值为辅的投资策略，但是，年初市场下跌，科技类的计算机、医药、传媒等下跌较多，导致基金净值出现较大回撤，1季度末和2季度我们对组合进行了优化，增持了估值偏低和业绩较好的电子、通信、汽车，而减持了业绩较差的医药和部分估值偏高的计算机、传媒，使得整体组合估值降低、现金流更稳健。2024年底，我们持仓依然是成长为主价值为辅，主要是电子、通信、计算机为代表的科技，并辅以格局稳定的运营商、家电和汽车等优质的公司。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T12:47:51.914Z","mo":"2025年年初以来，有色金属和科技类的机器人、汽车、电子等表现较好，而价值红利由于2024年底涨幅较好导致2025年1月跌幅较大。随着美国新总统正式上任，市场风险偏好有望提升，我们看好2025年的市场表现，创新不断的科技成长机会多一些，主要围绕产业的变革和确定性进行挖掘，同时看好以下方向：　　1）股息率的确定性：寻找稳定分红的、股息率较高的公司；　　2）业绩的确定性：寻找格局稳定、业绩增长确定的家电、汽车、手机等品牌公司；　　3）产业的确定性：技术变革或科技创新带来的产业方向，AI智能终端、机器人、智能驾驶等泛AI方向，看好国内产业和应用落地。","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2013-05-08T16:00:00.000Z","setUpScale":414674000,"market":"a","tickerId":136,"custody":"中国建设银行股份有限公司","name":"民生加银策略精选灵活配置混合型证券投资基金","shortName":"民生加银策略精选混合(000136)","fundSecondLevel":"hybrid","__csrcFundId":3424,"fundStatus":"normal","lastUpdated":"2026-04-30T17:21:52.673Z","masterFundFlag":1,"inceptionDate":"2013-06-06T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银策略精选混合","memoNum":1,"pinyin":"msjycljxlhpzhhxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银策略精选灵活配置混合型证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1247168","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec177d4369c9c836d273f","date":"2024-09-29T16:00:00.000Z","stockId":3000000000136,"sao":"三季度市场先跌，在政策影响下，大幅反弹。结合估值、盈利、现金流等，本季度组合增加了超跌较明显的汽车、家电、传媒等有性价比的公司，减持了部分计算机、电子，组合依然坚持科技为主的成长股投资策略，科技主要是电子、计算机、传媒，同时辅以运营商和电力，以及家电和汽车等优质的公司。　　市场大幅反弹和修复后，政策带来整体风险偏好提升，市场有望继续有比较好的表现，成长的机会可能更明显一些，但震荡也会来临，我们依然围绕确定性进行投资：　　1）股息率的确定性：寻找稳定分红的、股息率较高的公司；　　2）业绩的确定性：寻找格局稳定、业绩增长确定的家电、汽车等品牌公司；　　3）产业的确定性：持续重点关注科技创新带来的重大投资机会，全球科技创新带来的技术变革：泛人工智能的AI、机器人等。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T12:47:51.911Z","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate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股息率的确定性：寻找稳定分红的、股息率较高的公司；　　2） 业绩的确定性：寻找未来几年业绩增长确定的公司；　　3） 产业的确定性：一是政策鼓励的产业方向，比如中药、数字经济等；二是技术变革或科技创新带来的产业方向，比如AI，我们认为是继2012和2013年移动互联网之后的又一次产业浪潮，将会重塑很多行业和公司。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T12:47:51.887Z","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2013-05-08T16:00:00.000Z","setUpScale":414674000,"market":"a","tickerId":136,"custody":"中国建设银行股份有限公司","name":"民生加银策略精选灵活配置混合型证券投资基金","shortName":"民生加银策略精选混合(000136)","fundSecondLevel":"hybrid","__csrcFundId":3424,"fundStatus":"normal","lastUpdated":"2026-04-30T17:21:52.673Z","masterFundFlag":1,"inceptionDate":"2013-06-06T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银策略精选混合","memoNum":1,"pinyin":"msjycljxlhpzhhxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银策略精选灵活配置混合型证券投资基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=882831","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec177d4369c9c836d2738","date":"2022-12-30T16:00:00.000Z","stockId":3000000000136,"sao":"2022年是复杂的一年，也是困难的一年。这一年，我们一起经历了国内外多重事件的考验。海外方面，俄乌冲突、美国通胀高企，美联储持续加息，美元指数不断走高。国内方面，疫情不断扰动，经济和生活面临各种挑战。所有的重大事件，都影响着社会、经济、生活、资本市场的走势。有时，我们身在局中，或许未能观察到每一颗石子投入湖中泛起的涟漪。　　2022年，我关注的科技、消费等成长方向，受到估值和利润的双重压力考验。俄乌战争、美国通胀等因素压制估值，全球科技股受影响较大；疫情也在一定程度上影响企业的正常运营和利润。尽管这一年市场有许多不确定和大变化，但我依然坚持做长期且正确的事，在投资时自下而上选择优质的成长性企业进行中长期投资。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T12:47:51.883Z","mo":"展望2023年，我是乐观的，一是疫情和经济恢复可能需要一个过程，但最悲观时刻已过，企业的盈利基础在不断改善；二是，海外通胀加息、地缘冲突大概率也过了最坏的时候，影响估值的因素逐步减弱；三是，经过2022年的调整，大多数行业和公司估值处于比较低的分位，中长期价值显现。　　2023年倾向于以下方向，但我认为科技成长的机会会更明显一些：　　一）科技成长方向　　2022年受估值和利润双重不利影响，表现非常差，2023年我们认为数字经济（计算机、互联网、通信、传媒等）、新能源车、半导体等值得期待。　　二）疫后修复方向　　取决于疫后修复程度，比如：食品饮料、出行旅游、医药、电影院线等。　　三）政策发力或鼓励的方向　　我们会保持密切跟踪政策发力的方向，以及价格波动带来的受益方向或公司。","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2013-05-08T16:00:00.000Z","setUpScale":414674000,"market":"a","tickerId":136,"custody":"中国建设银行股份有限公司","name":"民生加银策略精选灵活配置混合型证券投资基金","shortName":"民生加银策略精选混合(000136)","fundSecondLevel":"hybrid","__csrcFundId":3424,"fundStatus":"normal","lastUpdated":"2026-04-30T17:21:52.673Z","masterFundFlag":1,"inceptionDate":"2013-06-06T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银策略精选混合","memoNum":1,"pinyin":"msjycljxlhpzhhxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银策略精选灵活配置混合型证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=865211","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec177d4369c9c836d2737","date":"2022-09-29T16:00:00.000Z","stockId":3000000000136,"sao":"报告期内，我们依然坚持了科技为主、消费为辅的成长股投资策略，但在俄乌战争、美国通胀、国内疫情等多种不利因素影响下，今年的投资环境比过去几年要困难和复杂的多。3季度市场几乎呈单边下跌态势，科技持仓方向的半导体、计算机、汽车智能化、互联网等方向跌幅较大，基金净值有不小的回撤。  持仓公司的跌幅比较大主要是悲观情绪影响带来估值大幅下移，而大多数公司的基本面没有发生不利变化、成长性依然良好。截止到2022年9月30日，大部分行业、公司的估值已大幅低于2022年4月底水平，甚至低于过去5年历史估值区间的中位数（wind数据）。  尽管未来海内外环境依然有各种不确定性，但我们认为静待花开，盈利模式清晰、竞争格局稳定、核心竞争力明显的优质成长性公司的中长期投资价值显现，包括：汽车智能化、自主可控、互联网及计算机、高端制造、医药、消费等公司。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T12:47:51.880Z","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2013-05-08T16:00:00.000Z","setUpScale":414674000,"market":"a","tickerId":136,"custody":"中国建设银行股份有限公司","name":"民生加银策略精选灵活配置混合型证券投资基金","shortName":"民生加银策略精选混合(000136)","fundSecondLevel":"hybrid","__csrcFundId":3424,"fundStatus":"normal","lastUpdated":"2026-04-30T17:21:52.673Z","masterFundFlag":1,"inceptionDate":"2013-06-06T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银策略精选混合","memoNum":1,"pinyin":"msjycljxlhpzhhxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银策略精选灵活配置混合型证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=806230","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec177d4369c9c836d2736","date":"2022-06-29T16:00:00.000Z","stockId":3000000000136,"sao":"我们依然坚持了科技为主、消费为辅的成长股投资策略，在俄乌战争、国内疫情、美国通胀的不利因素影响下，上半年市场波动较大，尤其是电子、计算机、互联网等科技方向跌幅较大，基金净值有不小的回撤。我一直认为投资是长跑，也是一种修行，需要不断总结、反思，从而才能不断提升自己。  上半年市场呈现出剧烈调整态势，尤其是产业链比较长的电子、汽车等行业的股票在前4个月跌幅较大，给我们净值带来了不利的影响。但我们一直认为不利因素影响只是暂时的、短暂的，终将会过去，所以，整个上半年我们保持了较高仓位的运作，4月底在上海疫情好转逐步复工的背景下，市场呈现大幅反弹局面，尤其是以新能源为代表的公司，我们净值也跟随反弹。  但不幸的是，同为产业链长、影响大的电子、汽车两行业面临的局面完全不同，国家不断出台政策刺激汽车的消费，带来汽车和新能源板块的大幅反弹。而电子由于缺乏比较好的政策刺激，需求一直不太好、销量同比下滑态势，股票反弹也是一波三折、最终上半年排跌幅榜第一，同时计算机、传媒等行业也表现不佳，给基金净值带来了非常不利的影响。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T12:47:51.876Z","mo":"我们中长期看好中国股票市场的投资机会，主要看好两大方向，一是渗透率低的行业，二是国产化率的行业，其中优质公司的成长性将快于GDP、快于行业发展的增长。  渗透率低的方向，包括电动车、汽车智能化、机器人等方向。电动车、汽车智能化未来依然会保持较快的增长态势，会更关注汽车智能化和整车的机会：一是，汽车智能化的很多方向（比如智能座舱、辅助驾驶、激光雷达、智能泊车、快充、高精度定位等）渗透率比较低，机会更明显一些；二是，看好国产车的崛起，整车具有消费的属性，具备比较好的客户粘性和品牌力，也就具备了比较好的溢价能力，那么整车的利润和股价弹性也会呈现出来。  另外，国产化率低的方向，包括半导体、新材料、国产软件、专精特新等。半导体的国产替代依然会继续进行，半导体设备和材料、以及优质的具备核心技术的芯片设计公司我们依然看好。互联网、数字经济的新业态新模式，我依然会重点研究，互联网的规模效应、网络效应非常明显，是比较好的商业模式。  最后，随着疫情的逐步好转，我们认为线下消费会逐步恢复，优质的医药、消费等公司也会是我们重点投资的方向。","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2013-05-08T16:00:00.000Z","setUpScale":414674000,"market":"a","tickerId":136,"custody":"中国建设银行股份有限公司","name":"民生加银策略精选灵活配置混合型证券投资基金","shortName":"民生加银策略精选混合(000136)","fundSecondLevel":"hybrid","__csrcFundId":3424,"fundStatus":"normal","lastUpdated":"2026-04-30T17:21:52.673Z","masterFundFlag":1,"inceptionDate":"2013-06-06T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银策略精选混合","memoNum":1,"pinyin":"msjycljxlhpzhhxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银策略精选灵活配置混合型证券投资基金2022年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=780484","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec177d4369c9c836d2735","date":"2022-03-30T16:00:00.000Z","stockId":3000000000136,"sao":"一直坚持科技为主消费为辅的成长股投资，1季度的美联储加息和俄乌战争、3月的国内疫情都对资本市场带来了非常大的不利影响，尤其是成长股影响更大，基金净值跌幅较大。首先，俄乌战争非常大的影响市场情绪和估值体系，对科技股杀伤很大，本基金的科技股一直占主导仓位，带来了净值的较大回撤。另外，国内疫情尤其是深圳、上海疫情，对国内经济和社会活动带来了非常大的不利影响，我们部分持仓的消费也下跌较多，也带来了净值的不利影响。  3月适度增加了医药的投资权重，适当降低了电子的持仓。同时，由于1季度市场调整较大，大部分公司的估值已经大幅下移，优质公司迎来了比较好的中长期布局机会，我们相信时间的价值、成长的力量，静待花开。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T12:47:51.873Z","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2013-05-08T16:00:00.000Z","setUpScale":414674000,"market":"a","tickerId":136,"custody":"中国建设银行股份有限公司","name":"民生加银策略精选灵活配置混合型证券投资基金","shortName":"民生加银策略精选混合(000136)","fundSecondLevel":"hybrid","__csrcFundId":3424,"fundStatus":"normal","lastUpdated":"2026-04-30T17:21:52.673Z","masterFundFlag":1,"inceptionDate":"2013-06-06T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银策略精选混合","memoNum":1,"pinyin":"msjycljxlhpzhhxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银策略精选灵活配置混合型证券投资基金2022年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=727934","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec177d4369c9c836d2734","date":"2021-12-30T16:00:00.000Z","stockId":3000000000136,"sao":"2021年面临很多挑战，疫情反复、行情极致分化、市场波动加大等，但以新能源为代表的结构性行情亮眼。1月基金净值涨幅不错，但春节后跟随市场调整和震荡，10月我们抓住了科技的投资机会实现了净值的快速上涨，年底又跟随市场调整，2021年我们还是实现了正收益。  尽管2021年不利于我们的风格，但我们一直坚持科技为主消费为辅、行业分散个股精选的成长股风格，坚持自下而上选择优质的企业进行中长期投资。2021年底，我们加大了科技的权重、降低了消费和医药的权重，新能源车从电动化向智能化倾斜。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T12:47:51.869Z","mo":"在国内经济增速下行、美国加息预期的背景下，需要降低投资回报率预期。2021年底到2022年元旦后市场出现大幅调整，估值有所下移，我们将自下而上积极寻找优质的企业进行中长期投资，看好以下方向：  1）汽车智能化：上半场是电动化，下半场的智能化刚刚开始，涉及到电子、计算机、汽车零部件等领域。  2）电子：汽车电子、消费电子、半导体芯片。  3）高端制造：计算机软件（工业互联网、信创）、专精特新、军工等。  4）预期可能变化的行业：2021年表现比较差的互联网、疫情受损的服务业、医药等。","fund":{"_id":3000000000136,"stockCode":"000136","stockType":"fund","areaCode":"cn","followedNum":182,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2013-05-08T16:00:00.000Z","setUpScale":414674000,"market":"a","tickerId":136,"custody":"中国建设银行股份有限公司","name":"民生加银策略精选灵活配置混合型证券投资基金","shortName":"民生加银策略精选混合(000136)","fundSecondLevel":"hybrid","__csrcFundId":3424,"fundStatus":"normal","lastUpdated":"2026-04-30T17:21:52.673Z","masterFundFlag":1,"inceptionDate":"2013-06-06T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银策略精选混合","memoNum":1,"pinyin":"msjycljxlhpzhhxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银策略精选灵活配置混合型证券投资基金2021年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=709855","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec177d4369c9c836d2733","date":"2021-09-29T16:00:00.000Z","stockId":3000000000136,"sao":"三季度市场结构性行情非常明显，周期对资本市场和宏观经济运行都带来了不小的挑战，对投资带来了不少的难度，我们坚持科技为主消费为辅的成长股投资，坚持自下而上选择商业模式清晰、可持续经营能力强的龙头公司进行中长期投资，运作期内加大了新能源车、医药、电子等的投资，减少了与宏观经济相关度比较大的公司。  对于后市，我们比较看好，极致的行情有望进入尾声，需要逆向思考和中长线布局：一是，优质的白马龙头公司经过前期下跌后值得挖掘；二是，积极布局边际改善的优质公司；中长期我们看好两大方向，一是，需求驱动的新能源车、医药、消费等；二是，核心技术有突破的硬核科技，半导体、软件、高端制造等。","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