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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，以及优质的港股互联网公司。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:39.469Z","fund":{"_id":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2024年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1174747","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc57","date":"2024-06-29T16:00:00.000Z","stockId":3000000010420,"sao":"上半年，整体市场表现较弱，其中，高股息类资产（银行、电力、石油、煤炭等）表现较好，而消费、计算机、传媒、医药、军工等跌幅靠前。　　本基金坚持科技为主、消费为辅的成长股投资，坚持自下而上寻找优质公司进行中长期投资，上半年主要投资了科技（计算机、电子、传媒等）、高股息资产（运营商、水电等）以及部分消费品（家电、汽车、医药等），其中计算机、传媒、医药等行业下跌给我们带来了一定的不利影响，在2季度对组合进行了一定的优化，减持了一定的医药、传媒、计算机，加仓了电子、电力和少部分港股的互联网等资产。四五月份，大部分消费电子公司估值有比较好的吸引力，在手机、眼镜等AI终端创新和潜在的换机周期拉动的背景下，投资性价比较高，对优质的电子公司进行了增持。同时，考虑到今年2季度水电的来水情况非常不错，对水电类资产也进行了一定的增持。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:39.467Z","mo":"中长期我们看好经济高质量发展和股票市场的投资机会，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（必需的类公用事业公司，比如运营商、水电等）；　　2）业绩的确定性：寻找格局稳定、业绩增长确定的家电、医药、汽车等消费品牌公司；　　3）产业的确定性：将持续重点关注科技创新带来的重大投资机会，尤其是科技创新和国产替代的两大领域，一是全球科技创新带来的技术变革：泛人工智能的AI、机器人等，AI手机、眼镜等终端的创新大概率会带来较好的行业发展机会和投资机会，二是国产替代带来的技术突破：半导体、军工等。同时，我们也积极关注港股优质的互联网和科技企业的投资机会。","fund":{"_id":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1146603","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc56","date":"2024-03-30T16:00:00.000Z","stockId":3000000010420,"sao":"1季度，市场呈现先抑后扬的态势，周期（有色、石油等）、高股息类资产（银行、电力等）表现较好，而科技（计算机、电子、传媒等）、医药、军工等跌幅靠前。　　本基金坚持科技为主、消费为辅的成长股投资，坚持自下而上寻找优质公司进行中长期投资，1季度主要投资了成长的科技（计算机、电子、传媒等）、汽车，部分高股息资产（运营商等）以及部分消费。　　中长期我们看好经济高质量发展和股票市场的投资机会，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：寻找未来几年业绩增长确定的公司；　　3）产业的确定性。　　我们将持续重点关注科技创新带来的重大投资机会，尤其是科技创新和国产替代的两大领域，一是全球科技创新带来的技术变革：泛人工智能的AI、机器人、汽车智能化等，二是国产替代带来的技术突破：半导体等。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:39.464Z","fund":{"_id":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1072897","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc55","date":"2023-12-30T16:00:00.000Z","stockId":3000000010420,"sao":"2023年，市场呈现先扬后抑的态势，科技、高股息类资产表现较好，通信、传媒、煤炭、计算机、石油石化等涨幅靠前，而过去几年的重仓行业比如新能源、食品饮料等跌幅较大。　　本基金坚持科技为主、消费为辅的成长股投资，坚持自下而上寻找优质公司进行中长期投资。持仓在1季度做了一定的调整，减持了部分消费类资产，加仓了计算机、汽车等成长类资产，同时，在4季度减持了部分消费以及港股的公司并增持了科技成长方向。全年主要投资了高股息资产（运营商、中药等），成长的科技（计算机、电子、传媒等）和汽车及零部件，以及部分消费股作为补充。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:39.461Z","mo":"2024年，经济高质量发展提供了较好的经济增长预期，结构转型和科技创新有望提供经济增长动力。1月份，成长类资产普遍调整较大后，大部分行业和公司估值吸引力较好，具备中长期投资价值。在稳定经济发展和呵护资本市场的背景下，中长期我们看好经济高质量发展和股票市场的投资机会，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，作为组合的底仓品种；　　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。　　我们将持续重点关注科技创新带来的重大投资机会，尤其是科技创新和国产替代的两大领域，一是全球科技创新带来的技术变革：泛人工智能的AI、机器人、汽车智能化等，二是国产替代带来的技术突破：半导体、医药等。","fund":{"_id":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1055223","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc54","date":"2023-09-29T16:00:00.000Z","stockId":3000000010420,"sao":"3季度，市场总体处于调整态势，AI为代表的科技调整幅度较大。整个三季度，我们持仓变化较小，重点投资了数字经济和人工智能相关的计算机、运营商、半导体、传媒等领域，以及汽车与零部件、医药等3大方向，并降低了港股的投资比例。我们看好泛人工智能的投资机会，包括AI、机器人、工业互联网等，尽管前3季度股票波动较大，更多的是预期过高后产业发展暂时落后的反应，但产业刚刚开始，我们看好长期发展前景。医药经过2年多的调整、以及近期的反腐后，股价包含了较多的不利预期，可能3季度部分公司业绩存在一定的压力，但在刚需和估值具备吸引力的背景下，大部分公司中长期价值显现。我们同样看好汽车的智能化机会，以及汽车出口和自主车认知度提升。　　在稳定经济发展和呵护资本市场的背景下，中长期我们看好经济高质量发展和股票市场的投资机会。在降低投资预期收益率的背景下，我们看好以下方向：　　1）股息率的确定性：寻找稳定分红的、股息率较高的公司，作为组合的底仓品种；　　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，比如数字经济、自主可控等；二是技术变革或科技创新带来的产业方向，比如AI、机器人、汽车智能化等。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:39.459Z","fund":{"_id":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=988063","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc53","date":"2023-06-29T16:00:00.000Z","stockId":3000000010420,"sao":"告别了2022年的疫情、美国通胀、地缘冲突等不利因素，在大多数行业和公司估值都处于比较低的分位背景下，2023年上半年股票市场呈现了一定的赚钱效应，机会也偏多元化，一是，全球科技共振的AI、机器人、智能汽车等科技创新的投资机会，二是，国内政策驱动的中药、数字经济、资源品、运营商等分红确定性的央国企的价值重估，尤其是1季度呈现了普涨的态势，而2季度分化较大，波动也比较大。　　我们坚持了科技为主消费为辅的成长股投资策略，主要投资的科技股表现较好，尤其是数字经济和AI相关的计算机、传媒、通信等领域的公司涨幅较好，同时，持仓的运营商和中药表现也不错。而疫后复苏的公司在弱复苏的背景下股价表现较弱。在投资过程中，我们致力于自下而上选择投资机会，希望陪伴优秀的公司一起成长，并在2季度末进行了一定的调仓，重点投资经济弱相关的细分行业和公司，聚焦在两大方向，一是，聚焦计算机、运营商、传媒等科技的基础上，增加了汽车和零部件的投资，二是，以中药、大众消费为主的医药消费两大领域，同时降低了港股的权重。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:39.456Z","mo":"随着理财收益率和银行存款利率下降，资本市场依然有比较好的投资机会，下半年股票市场我们偏乐观，机会偏均衡和多元化，价值与创新有望携手前行，但科技股占优一些。我们认为未来在降低预期收益率的背景下寻找确定性：　　分红的确定性：寻找稳定分红的、股息率较高的公司；　　业绩的确定性：寻找未来几年业绩增长确定的公司；　　产业的确定性：政策鼓励的产业方向，比如央国企、数字经济、中药等；技术变革或科技创新带来的产业方向，比如：人工智能、智能汽车、先进制造等。","fund":{"_id":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=958630","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc52","date":"2023-03-30T16:00:00.000Z","stockId":3000000010420,"sao":"2022年底，我们指出：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年我认为科技成长的机会会更明显一些。　　2023年1季度，我们也是这么投资和运作的，主要投资的科技成长方向的公司表现较好，尤其是数字经济和AI相关的计算机、传媒、通信和电子等领域的公司涨幅较好，同时，运营商和中药表现也不错。而疫后复苏的公司在弱复苏的背景下股价表现较弱。港股互联网波动较大。　　展望未来我们依然认为科技成长机会更明显一些，看好数字经济和AI引领的新一代产业浪潮带来的投资机会。未来我们认为主要机会是在不确定性环境下寻找确定性：　　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":"2026-03-09T13:39:39.454Z","fund":{"_id":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=882126","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc51","date":"2022-12-30T16:00:00.000Z","stockId":3000000010420,"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。2022年，我们关注到了在教育领域有较大影响力的领军人物，尽管近2年面临着受教育双减政策影响的不利局面，仍以不服输的坚韧精神，另辟蹊径带领旗下员工开辟了农产品直播电商这条艰难但正确的路，在探索中走出励志的成功大道。　　其实，每个人、每个企业、每个投资者何尝不是这样呢？任何人都不可能一直一帆风顺，但只要坚持做长期且正确的事，短暂的挫折过去后，必将迎来更加灿烂的风采。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:39.451Z","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。以及港股我也是看好的，优质的互联网、医药等值得重点挖掘。　　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":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=867063","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc50","date":"2022-09-29T16:00:00.000Z","stockId":3000000010420,"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":"2026-03-09T13:39:39.449Z","fund":{"_id":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=806369","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc4f","date":"2022-06-29T16:00:00.000Z","stockId":3000000010420,"sao":"我们依然坚持科技为主、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、互联网、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":"2026-03-09T13:39:39.443Z","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，二是国产化率低的行业，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":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2022年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=780923","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc4e","date":"2022-03-30T16:00:00.000Z","stockId":3000000010420,"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，降低了港股和电子的持仓。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":"2026-03-09T13:39:39.440Z","fund":{"_id":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2022年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=727546","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc4d","date":"2021-12-30T16:00:00.000Z","stockId":3000000010420,"sao":"2021年面临很多挑战，疫情反复、行情极致分化、港股下跌等，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，3季度港股下跌带来非常大的不利影响，10月我们又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。  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":"2026-03-09T13:39:39.438Z","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":3000000010420,"__csrcFundId":8309,"stockCode":"010420","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":10420,"masterFundFlag":1,"lastUpdated":"2025-07-11T18:09:43.464Z","status":"normal","name":"民生加银成长优选股票型证券投资基金","exchange":"jj","followedNum":21,"shortName":"民生加银成长优选股票A","inceptionDate":"2020-11-26T16:00:00.000Z","fundCollectionId":4000050610000,"currency":"CNY","masterFundShortName":"民生加银成长优选股票","setUpDate":"2020-11-26T16:00:00.000Z","setUpAssetScale":4987454483.76,"setUpShares":4987454483.76,"memoNum":1,"pinyin":"msjyczyxgpxzqtzjj","managers":[{"stockCode":"db20292102","stockType":"fund_manager","exchange":"fm","tickerId":1923141360,"name":"孙伟"}]},"announcement":{"linkText":"民生加银成长优选股票型证券投资基金2021年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=709828","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd9b7fea5b3eb04dcc4c","date":"2021-09-29T16:00:00.000Z","stockId":3000000010420,"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。另外，港股的恒生科技指数三季度下跌25.18%，也给我们的净值带来了不小的负贡献。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，并适当降低了港股的投资权重。  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；同时，中长期我们看好两大方向，一是，需求驱动的新能源车、医药、互联网、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。","declarationDate":"2021-10-26T16:00:00.000Z","lastUpdated":"2026-03-0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