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势呈现中美共振的特征。本基金适当增加了数字经济方向的持仓。","declarationDate":"2023-04-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.533Z","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)","followedNum":4,"fundCollectionId":4000051860000,"currency":"CNY","masterFundShortName":"淳厚欣享","setUpDate":"2020-09-14T16:00:00.000Z","setUpAssetScale":1082430721.84,"setUpShares":1082430721.84,"pinyin":"chxxyncyqhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20747429","stockType":"fund_manager","exchange":"fm","tickerId":323201860,"name":"陈文"},{"stockCode":"j101019498","stockType":"fund_manager","exchange":"fm","tickerId":252503249310,"name":"杨煜城"}]},"announcement":{"linkText":"淳厚欣享一年持有期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=888879","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd287fea5b3eb04d4fd3","date":"2022-12-30T16:00:00.000Z","stockId":3000000009931,"sao":"2022年以来，海外通胀高企，美联储持续加息，外需面临较大的下行压力，集运价格大幅下跌。经济压力持续加大，各项政策出现了明显的转向。与宏观经济背景及相关政策变化相对应的是，资本市场出现了显著的风格变化，全球需求驱动的资产普遍表现不佳，包括半导体、新能源等；而预期受益于内需政策转向的资产，即便当期景气度依然低迷，但提前出现了显著的困境反转走势。本基金持续进行持仓结构优化，一是进一步增加了内需关联的资产仓位，降低了外需关联的资产仓位；另一方面，在成长性资产的选择中，加大了进口替代部分的权重。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.530Z","mo":"随着经济形势逐渐向好，地产政策的不断调整，2023年的宏观经济展望乐观，尤其是国民经济中的接触型经济的复苏力度会显著增强。海外需求依然存在压力，但内需需求的确定性好转，经济呈现温和复苏的概率较大。资本市场经历了2021、2022两年的小年，2023年好转的概率提升。我们相对看好消费场景复苏带来的部分投资机会，技术进步带来的相关产业趋势投资机会，以及国民经济各细分领域中的进口替代投资机会。","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)","followedNum":4,"fundCollectionId":4000051860000,"currency":"CNY","masterFundShortName":"淳厚欣享","setUpDate":"2020-09-14T16:00:00.000Z","setUpAssetScale":1082430721.84,"setUpShares":1082430721.84,"pinyin":"chxxyncyqhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20747429","stockType":"fund_manager","exchange":"fm","tickerId":323201860,"name":"陈文"},{"stockCode":"j101019498","stockType":"fund_manager","exchange":"fm","tickerId":252503249310,"name":"杨煜城"}]},"announcement":{"linkText":"淳厚欣享一年持有期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=872932","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd287fea5b3eb04d4fd2","date":"2022-09-29T16:00:00.000Z","stockId":3000000009931,"sao":"2022年三季度以来，中国宏观经济依然偏于平淡。海外通胀高企，美联储持续加息，外需面临较大的下行压力；国内房地产领域依然没有大的起色，疫情反复持续影响消费端，稳增长政策有所发力，但依然是托底经济的政策取向。资本市场在经历了2季度的快速反弹后，再次进入了显著调整阶段。本基金在市场持续调整过程中，持续进行持仓结构优化，一是适当增加了内需关联的资产仓位，降低了外需关联的资产仓位；另一方面，持仓结构向高确定性成长资产及深度价值类资产集中。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.528Z","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)","followedNum":4,"fundCollectionId":4000051860000,"currency":"CNY","masterFundShortName":"淳厚欣享","setUpDate":"2020-09-14T16:00:00.000Z","setUpAssetScale":1082430721.84,"setUpShares":1082430721.84,"pinyin":"chxxyncyqhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20747429","stockType":"fund_manager","exchange":"fm","tickerId":323201860,"name":"陈文"},{"stockCode":"j101019498","stockType":"fund_manager","exchange":"fm","tickerId":252503249310,"name":"杨煜城"}]},"announcement":{"linkText":"淳厚欣享一年持有期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=810293","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd287fea5b3eb04d4fd1","date":"2022-06-29T16:00:00.000Z","stockId":3000000009931,"sao":"2022年以来，由于地产领域信用的持续收缩，以及疫情的影响，中国经济面临较强的下行压力，与之相随的是中国资本市场经历了显著的下跌。同时，我们可以看到货币政策、财政政策、产业政策都出现了明显有利于资本市场的边际变化。在二季度，资本市场估值持续收缩，资本市场出现了较强的投资价值。本基金在市场下跌过程中，逐步增加了仓位，并不断调整持仓结构。本基金一直青睐例如食品饮料、医药医疗、互联网、物业服务、财富管理等偏消费类商业模式的公司，这一类投资标的一直是本基金的核心持仓。同时，本基金增加了新能源领域的持仓，汽车电动化及智能化、光伏、风电、储能等领域依然是当前中国经济最大的亮点。在挑选新能源领域投资标的的时候，本基金大致遵循两个思路：一是关注产业链中具有较强定价能力的公司，更加关注投资标的竞争优势的持续性，规避竞争格局变化太快、竞争力持续性不强的环节。二是关注产业链中受益于技术创新的环节，享受超越行业增速的潜在爆发性需求。此外，本基金适当增加了诸如半导体这类具有很强国产替代趋势的投资仓位。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.525Z","mo":"展望未来，宏观经济走势依然充满了不确定性。海外高通胀压力下，主要经济体面临较大的衰退压力，中国未来的外需端压力会有所加大。国内地产领域的持续信用收缩，以及疫情的持续影响，国内经济形势同样面临压力。未来一段时间，货币政策、财政政策、产业政策依然会有较强的维稳动力，但难以看到经济的强势复苏，更大概率是弱势温和的走势。  股票市场经历完快速下跌、快速反弹后，预计未来更大可能是震荡走势，但依然存在结构性的机会。本基金将立足长期产业趋势，重点挖掘成长性的投资机会。","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)","followedNum":4,"fundCollectionId":4000051860000,"currency":"CNY","masterFundShortName":"淳厚欣享","setUpDate":"2020-09-14T16:00:00.000Z","setUpAssetScale":1082430721.84,"setUpShares":1082430721.84,"pinyin":"chxxyncyqhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20747429","stockType":"fund_manager","exchange":"fm","tickerId":323201860,"name":"陈文"},{"stockCode":"j101019498","stockType":"fund_manager","exchange":"fm","tickerId":252503249310,"name":"杨煜城"}]},"announcement":{"linkText":"淳厚欣享一年持有期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=788483","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd287fea5b3eb04d4fd0","date":"2022-03-30T16:00:00.000Z","stockId":3000000009931,"sao":"2022年以来，全球经济及资本市场的主要矛盾都较2021年有所变化。欧美国家面临严峻的通胀压力，与之匹配的是海外央行的加息预期，资本市场中的长久期资产面临了显著的估值收缩压力。其次，地缘政治危机进一步加剧了上游资源价格的上涨压力，同时压制了全球资本市场的风险偏好。与国外经济体不同的是，国内经济面临较大的下行压力，需求面收缩的最大力量依然来自房地产领域。疫情的反复，令国内消费领域呈现了进一步的下行压力。国内资本市场表现出与2021年较为明显的差异。较长久期特征的成长性资产普遍出现了较大幅度的下跌，而部分较低估值的短久期资产反而出现了较强的抗跌属性。同时，部分具有困境反转预期的资产表现也相对较优。本基金坚持自下而上选股为主、自上而下择时及配置为辅的投资策略，期望拥抱优秀商业模式的公司，赚取公司业绩持续成长的收益，我们坚持均衡配置的原则。本基金一直青睐例如食品饮料、医药医疗、互联网、物业服务、财富管理等偏消费类商业模式的公司，这一类投资标的一直是本基金的核心持仓。在一季度，本基金持仓的成长性方向标的普遍出现了较大幅度的下跌；在运行过程中，本基金在坚持以上核心策略的基础上，尽力进行了结构性调仓以应对变化的市场环境。这种调整主要体现在，我们尽力通过如下增加两种结构性配置来抵御市场的估值收缩压力。一是，增加短久期资产的持仓比重；二是，增加了部分高确定性、高增速的成长性资产；同时我们放弃了部分处在中间地带的较长久期的资产。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.522Z","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)","followedNum":4,"fundCollectionId":4000051860000,"currency":"CNY","masterFundShortName":"淳厚欣享","setUpDate":"2020-09-14T16:00:00.000Z","setUpAssetScale":1082430721.84,"setUpShares":1082430721.84,"pinyin":"chxxyncyqhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20747429","stockType":"fund_manager","exchange":"fm","tickerId":323201860,"name":"陈文"},{"stockCode":"j101019498","stockType":"fund_manager","exchange":"fm","tickerId":252503249310,"name":"杨煜城"}]},"announcement":{"linkText":"淳厚欣享一年持有期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=727354","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd287fea5b3eb04d4fcf","date":"2021-12-30T16:00:00.000Z","stockId":3000000009931,"sao":"海外需求是2021年中国经济的主要支撑力量，房地产景气度逐级下行，内需消费疲软。与经济领域的内冷外热分化类似，股票市场同样呈现出显著的分化现象。内需型驱动的股票普遍表现低迷，全球需求驱动的大宗商品及其相关股票表现较好。2021年国家调结构的动力较强，房地产、互联网、教培、医药等领域面临较强的政策压力，而碳中和是最大的政策鼓励方向，这些产业政策的分化同样反映在二级市场之中。本基金坚持自下而上选股为主、自上而下择时及配置为辅的投资策略，期望拥抱优秀的商业模式赚取公司业绩持续成长的收益；我们坚持均衡配置原则，不把仓位过于暴露在某一个行业或者某一种风格。本基金一直青睐诸如食品饮料、医药医疗、互联网、物业服务、财富管理等偏消费类的商业模式，该类投资标的一直是本基金的核心持仓。由于市场风格的原因，消费类方向的布局在2021年为基金净值总体是负向贡献；碳中和方向的布局，是本基金2021年的核心收益来源。我们认为碳中和的产业趋势在时间、空间两个维度都非常强，渗透率低，且是全球共振的产业趋势。消费类资产的优势在于供给端的稳定，而诸如碳中和这类强产业趋势的资产优势在于需求端的爆发性。我们在选择标的的时候，期望兼顾供需两端的均衡。例如，我们期望在消费类资产里优先选择需求更强的方向，这种更强的需求主要是较低的渗透率带来的；财富管理、物业服务、培育钻石等是我们有所布局的方向。在强产业趋势的科技类资产中优先选择供给端更加稳定的方向，即技术变化风险小、行业竞争格局优、公司竞争优势强。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.519Z","mo":"随着国内经济下行压力的加大，稳增长预期愈发强烈。与2021年资本市场呈现的显著分化相比，我们认为2022年资本市场的投资机会可能会更加丰富，内需驱动类的部分股票有望逐步迎来转折点。美国货币政策的转向有可能对A股市场带来阶段性扰动，但由于国内较为友好的货币政策、财政政策，A股市场风险总体可控。我们认为，资本市场结构性投资机会依然比较丰富。","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)","followedNum":4,"fundCollectionId":4000051860000,"currency":"CNY","masterFundShortName":"淳厚欣享","setUpDate":"2020-09-14T16:00:00.000Z","setUpAssetScale":1082430721.84,"setUpShares":1082430721.84,"pinyin":"chxxyncyqhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20747429","stockType":"fund_manager","exchange":"fm","tickerId":323201860,"name":"陈文"},{"stockCode":"j101019498","stockType":"fund_manager","exchange":"fm","tickerId":252503249310,"name":"杨煜城"}]},"announcement":{"linkText":"淳厚欣享一年持有期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=710516","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd287fea5b3eb04d4fce","date":"2021-09-29T16:00:0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   资本市场三季度投资操作难度明显较大，体现出很强的快速轮动特点，比较难有明显的趋势性行情。本基金坚持\"自下而上选股为主、自上而下择时及配置为辅的投资策略\"，期望拥抱优秀的商业模式赚取公司业绩持续成长的收益。本基金三季度对持仓进行了一定调整，在大消费领域，将更多仓位调整到业绩确定性较强、较持续的物业服务、财富管理、培育钻石、部分2B类的医药等方向，降低了半导体的持仓，适当增加了价格趋势较强的上游领域持仓，强产业趋势方向的泛新能源领域依然保持了较高的仓位。    展望未来，我们认为出口趋势的变化依然是重要的关注点，一旦出口形势出现明显转向，国内相应财政、货币、产业政策调整的可能性和迫切性将会明显上升，届时将会显著影响二级市场的资产走势。","declarationDate":"2021-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.517Z","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)","followedNum":4,"fundCollectionId":4000051860000,"currency":"CNY","masterFundShortName":"淳厚欣享","setUpDate":"2020-09-14T16:00:00.000Z","setUpAssetScale":1082430721.84,"setUpShares":1082430721.84,"pinyin":"chxxyncyqhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20747429","stockType":"fund_manager","exchange":"fm","tickerId":323201860,"name":"陈文"},{"stockCode":"j101019498","stockType":"fund_manager","exchange":"fm","tickerId":252503249310,"name":"杨煜城"}]},"announcement":{"linkText":"淳厚欣享一年持有期混合型证券投资基金2021年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=654442","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd287fea5b3eb04d4fcd","date":"2021-06-29T16:00:00.000Z","stockId":3000000009931,"sao":"上半年出口依然持续较好态势，但国内消费复苏持续疲软，投资端受制于信用收紧及地产调控升级表现一般，整体经济偏于温和且有下行趋势。国外疫情持续，货币政策没有出现根本性扭转，需求端表现依然较强，但供给端的扰动持续存在，全球范围内的通胀中枢上行。但与通胀数据走势形成鲜明对比的是，美国和中国的十年期国债收益率都出现了明显的下行，反应的更多是市场对于中长期经济的悲观。因此，可以明显看到，上半年市场表现出非常强的成长风格偏好的特征。在国内经济表现尚可的阶段，国家依然更加注重更加强调调结构、降杠杆，在部分领域（例如互联网、教育等）出现了明显的产业调整政策。而另一方面，经济总量增速总体一般，但表现出较强的结构性繁荣，例如电动车、全球范围内的半导体高景气等，这些产业同样是国家自上而下非常鼓励的方向。上半年资本市场将国家自上而下的结构调整政策取向映射得淋漓尽致，相应的板块走出了非常显著的走势分化。 本基金坚持自下而上选股为主、自上而下择时及配置为辅的投资策略，期望拥抱优秀的商业模式赚取公司业绩持续成长的收益。本基金一直青睐例如食品饮料、医药医疗、互联网、物业服务等偏消费类的商业模式，这一类投资标一直是本基金的核心持仓，同时2季度适当增加了半导体、新能源的持仓比例。本基金总体坚持均衡配置的原则，在2季度市场呈现较为极致的结构性行情的时候，持仓结构偏于稳健，部分港股持仓、传统产业持仓表现较弱，拖累了净值表现。","declarationDate":"2021-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.514Z","mo":"随着房地产调控的持续，未来半年地产销售和投资都大概率承压，经济保增长的压力会逐步显现，财政政策将可能逐步发力，部分严厉的产业政策也有可能会趋于缓和。年初以来极致分化的行情可能会逐步回归均衡，与宏观经济强相关的部分行业（例如可选消费）的预期会有所改善，而此前持续被市场追逐的具有强产业趋势的行业（例如新能源、半导体等）可能需要阶段性消化估值。更加均衡的市场对于均衡型投资者更加有利。","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)","followedNum":4,"fundCollectionId":4000051860000,"currency":"CNY","masterFundShortName":"淳厚欣享","setUpDate":"2020-09-14T16:00:00.000Z","setUpAssetScale":1082430721.84,"setUpShares":1082430721.84,"pinyin":"chxxyncyqhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20747429","stockType":"fund_manager","exchange":"fm","tickerId":323201860,"name":"陈文"},{"stockCode":"j101019498","stockType":"fund_manager","exchange":"fm","tickerId":252503249310,"name":"杨煜城"}]},"announcement":{"linkText":"淳厚欣享一年持有期混合型证券投资基金2021年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=630854","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd287fea5b3eb04d4fcc","stockId":3000000009931,"sao":"随着全球疫情的逐步控制以及疫苗在部分国家大范围的接种，海内外资本市场对于经济复苏的预期不断加强，同时叠加美国新一轮刺激政策的开展，市场对于通胀预期也不断加强。美国十年期国债收益率不断上升，与之相对应的，股票市场也在农历年前后出现了非常显著的风格切换。在农历年前，市场对于高确定性的优质股票的拥抱达到极致，而农历年后又进入了另一个极端，高确定性的优质股票出现了非常明显的估值下降，而此前被市场抛弃的小市值股票、周期股等出现了明显的相对收益。本基金始终坚持均衡配置风格，坚持以自下而上选择优质股票，以合理估值买入并持有的投资策略。由于我们稳健的风格坚持攻守均衡、估值均衡，在波动较大的市场环境下，我们保持了对持仓结构的信心，并未做大范围的仓位选择，更多以进一步调整结构来应对市场的下跌。在市场进入稳定状态后，本基金净值出现了明显的修复，基本达到了运作预期。展望后市，我们认为A股、港股市场总体估值合理，结构性高估的现象也得到了一定程度消化，以自下而上的视角，已经能在市场中找到不少有合理预期回报率的优质投资标的。本基金将继续坚持一直以来的自下而上选择优秀的商业模式为主的投资策略，以合理估值的泛消费类资产作为核心底仓，包括物业服务、互联网、食品饮料、医药医疗、家电家具、消费建材等，同时兼顾一些强产业趋势的投资方向，例如汽车电动化、智能化、光伏、军工、半导体等。","date":"2021-03-30T16:00:00.000Z","declarationDate":"2021-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.512Z","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)","followedNum":4,"fundCollectionId":4000051860000,"currency":"CNY","masterFundShortName":"淳厚欣享","setUpDate":"2020-09-14T16:00:00.000Z","setUpAssetScale":1082430721.84,"setUpShares":1082430721.84,"pinyin":"chxxyncyqhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"db20747429","stockType":"fund_manager","exchange":"fm","tickerId":323201860,"name":"陈文"},{"stockCode":"j101019498","stockType":"fund_manager","exchange":"fm","tickerId":252503249310,"name":"杨煜城"}]},"announcement":{"linkText":"淳厚欣享一年持有期混合型证券投资基金2021年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=568770","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd287fea5b3eb04d4fcb","stockId":3000000009931,"sao":"2020年4季度国外疫情依然没有得到有效控制，全球流动性依然充沛，海外经济缓慢复苏，中国强大的制造业优势体现得淋漓尽致，最终表现为中国出口的持续超预期。在出口端的引领下，中国经济持续复苏。与此同时，国内的流动性好于此前预期，相对三季度反而边际改善，市场预期未来的政策退出将逐步推进。在基本面向好、流动性改善的背景下，A股走出了三季度的横盘震荡格局，选择上行，市场风格也再度转向偏于成长的方向，以白酒、新能源、军工为典型代表。在经济持续复苏的背景下，国家政策体现出一定程度的调结构、降杠杆、紧信用的意愿，但流动性依然偏于宽松。我们在仓位配置上依然以长期具备较好超额收益的新兴产业配置为主，对国家政策偏于严厉的地产产业链的配置比重较低，四季度本产品重新取得了较好的超额收益。我们相信，由于中国宏观经济的纵深足够，股票市场的投资品种也足够丰富，在注册制持续推进以及资本市场的不断开放的背景下，二级市场依然充满结构性机会。虽然A股市场部分标的估值较高，一定程度上透支了未来业绩的成长，但如果把投资视野从一线适当切换到二线、从A股拓展到港股，依然可以发现有较好的投资机会。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:37:44.509Z","mo":"展望2021年，随着全球疫情逐步得到控制，海外经济将继续复苏，以美国为代表的国债收益率走高是大概率事件。但从更长期看，由于疫情对国外资产负债表的伤害，我们认为海外经济复苏的高度和强度都有限。在全球经济复苏背景下，以铜、石油为代表的上游资源品将保持强势。2020年下半年以来，由于中国疫情得到较好地控制，中国经济在出口端、地产投资的拉动下，呈现持续超预期复苏的态势。展望2021年，相对国外经济复苏的高确定性，中国经济的走向反而更加复杂，主要原因是中国2020年出口端受益于海外疫情对供应链的破坏，同时中国宏观政策领先全球进行了调整。2021年海外疫情好转虽然增加了全球贸易的总需求，但也会修复海外供应链，从而使得中国供应链份额下降。我们更倾向于认为海外疫情好转对中国出口是略偏负面的。中国的宏观政策取向具有非常强的逆向调节取向，如果出口持续好，政策的选择会更偏向于结构调整、去杠杆、紧信用等；如果出口形势显著恶化，政策托底的概率又会增加。不同的政策选择对应的不同市场风格和投资机会，2021年我们会持续关注出口趋势。经历了2019、2020年两年的结构性牛市，机构投资者偏好的持仓品种对应估值确实来到了较高的水位，加上全球经济复苏推动的国债收益率的上行，2021年资本市场估值收缩的压力较大。另一方面，过去两年的结构性牛市下，依然有大量股票持续处在合理甚至偏低的状态，未来结构性的机会依然有挖掘空间。本基金坚持持有优秀商业模式的基础之上，将更加注重估值层面的考量权重，尽力优化投资组合的风险收益比。","fund":{"_id":3000000009931,"__csrcFundId":8097,"stockCode":"009931","name":"淳厚欣享一年持有期混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9931,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T22:04:20.663Z","status":"normal","exchange":"jj","inceptionDate":"2020-09-14T16:00:00.000Z","shortName":"淳厚欣享(009931)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