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年疫情初的力度，房地产政策超预期，提振了宏观预期；3）宽松落地，利好兑现，利率多进入调整和盘整期；4）支持股市的多项政策可能短期提振风险偏好。仅货币政策可能还不能逆转方向，需要多部门综合行动，政府大力呵护有效需求。　　海外方面，美国降息周期已经开启这有助于缓解内的汇率压力，对权益市场来说总量角度偏正面。 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:"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.000Z","setUpAssetScale":278605022.69,"setUpShares":278605022.69,"pinyin":"cxwjjh6gycyqhhxzqtzjj","managers":[{"stockCode":"j101020091","stockType":"fund_manager","exchange":"fm","tickerId":81303251050,"name":"胡梦承"},{"stockCode":"8801362509","stockType":"fund_manager","exchange":"fm","tickerId":1216110060,"name":"李仆"}]},"announcement":{"linkText":"长信稳健均衡6个月持有期混合型证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1056289","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece467fea5b3eb04e7cb7","date":"2023-09-29T16:00:00.000Z","stockId":3000000011105,"sao":"回顾三季度，国内持续推进稳增长政策，经济基本面逐渐企稳回暖。债券市场，在经济阶段底部大概率得到确认的情况下，10Y国债收益率上行至2.8%。信用方面，伴随地产和地方债务化解的政策落地，地产债和城投债的交易情绪得到提振，但随着利率债的上行，信用债收益率也同步回升。权益市场方面，在超预期的地产放松、活跃资本市场等政策影响下，市场处于磨底过程中，其中不乏结构性机会，例如出口链相关的机械和家电，能源和有色等资品在供给偏紧下的稳定盈利长，以及边际出现变化的消费电子和医药等。　　面对市场的分化和波动，我们通过资产结构调整，努力实现组合回报。具体操作上，纯债维持中短久期和中高等级的持仓结构。权益部分，在市场磨底过程中，寻找具有安全边际，同时具备上涨空间的板块机会。　　四季度，国内经济基本面有望延续。地产链条迎来金九银十旺季，政策组合拳释放一波需求；各类消费场景也可能给社零带来向上脉冲。照此形势外推，全年经济目标有望实现。因此，权益市场经过前期各项利空因素的消化，在目前较低的指数点位上，大概率走出震荡上行的行情。同时，债券受到经济预期向好的扰动，震荡波幅可能加大。　　近期大部分经济指标均有好转，工业PPI数据、消费CPI和社零数据环比好于预期，地产销售和新开工降幅收窄，以及基建开工率、货运流量等各项生产和流通指标有所上行。相信随着经济的自然修复，政策发力效果往后看会进一步体现。权益市场的配置方向上，把握高景气和确定性两大主线。高景气行业重点是半导体、计算机、出行链、汽车、家电、工业金属等细分领域；确定性方面，考虑到经济仍处于复苏阶段、外围扰动尚存，择机布局各行业龙头，以及红利低波类资产。转债方面，一是配置低价偏平衡型标的作为防守，二是积极挖掘溢价率调整到位的偏股型标的，主要是低位的周期，有产业催化的汽车、机器人等行业。债券仍然以控制久期的票息策略为主，同时关注利率调整后的性价比和部分优质信用债券。　　下一阶段我们将积极关注经济走势和政策动向，动态调整组合权益部分的行业分布和个股集中度、债券部分的久期和仓位，加强流动性管理，严格防范信用风险，进一步优化投资组合，力争为投资者获取较好的收益。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:42:30.619Z","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.000Z","setUpAssetScale":278605022.69,"setUpShares":278605022.69,"pinyin":"cxwjjh6gycyqhhxzqtzjj","managers":[{"stockCode":"j101020091","stockType":"fund_manager","exchange":"fm","tickerId":81303251050,"name":"胡梦承"},{"stockCode":"8801362509","stockType":"fund_manager","exchange":"fm","tickerId":1216110060,"name":"李仆"}]},"announcement":{"linkText":"长信稳健均衡6个月持有期混合型证券投资基金2023年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=994740","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece467fea5b3eb04e7cb6","date":"2023-06-29T16:00:00.000Z","stockId":3000000011105,"sao":"上半年，货币市场维持宽松，债券收益率呈现区间震荡，随后逐步下行的趋势，收益率曲线趋于平坦化，信用利差压缩较快，整体市场表现较好。权益市场方面，年初延续了去年四季度以来的上行趋势，春节后指数进入调整，随后震荡下行，部分热点板块在人工智能的产业催化下表现突出。　　面对市场的分化和波动，我们通过资产结构调整，努力实现组合回报。具体操作上，纯债维持中短久期和中高等级的持仓结构。权益部分，本报告期前期为控制回撤在市场预期变化时及时灵活调整了整体仓位，后期借助市场情绪再次提升仓位。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:42:30.616Z","mo":"展望下半年，我们认为政策将逐渐发力，叠加国际关系的缓和，将阶段性大幅缓解市场的焦虑，权益市场短期也有望进入可为的阶段，北上资金流入情况和人民币汇率也会有所体现。三季度权益市场总体上将呈现出指数层面的机会，结构分化收敛，各宽基指数都有可能逐级走高。同时，债券的震荡波幅可能加大。　　接下来，市场将进入一个经济压力的担忧缓解、同时政策呵护力度提升的窗口。叠加中报期，市场将重点关注行情景气度可持续，业绩环比仍有改善的细分领域。重点方向：（1）顺周期方向，密切跟踪刺激政策的真正落地，或者经济高频数据的改善，逢低择优布局。包括地产、电网建设、消费等相关受益板块。（2）受益于国企改革的央国企公司，重点围绕数字化建设、一带一路、高端制造业产业化整合等方向，覆盖建筑交通、能源电力、高端制造、医药生物等领域。（3）前期市场调整较大的板块，例如光伏和新能源汽车等，在产业长期趋势不变的情况下，部分优质标的具有配置价值。转债市场关注业绩较好、估值合理的相关标的。纯债方面，维持中短久期策略，获取稳健的票息收益。　　下一阶段我们将积极关注经济走势和政策动向，动态调整组合权益部分的行业分布和个股集中度、债券部分的久期和仓位，加强流动性管理，严格防范信用风险，进一步优化投资组合，力争为投资者获取较好的收益。","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.000Z","setUpAssetScale":278605022.69,"setUpShares":278605022.69,"pinyin":"cxwjjh6gycyqhhxzqtzjj","managers":[{"stockCode":"j101020091","stockType":"fund_manager","exchange":"fm","tickerId":81303251050,"name":"胡梦承"},{"stockCode":"8801362509","stockType":"fund_manager","exchange":"fm","tickerId":1216110060,"name":"李仆"}]},"announcement":{"linkText":"长信稳健均衡6个月持有期混合型证券投资基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=965155","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece467fea5b3eb04e7cb5","date":"2023-03-30T16:00:00.000Z","stockId":3000000011105,"sao":"一季度，市场流动性环境较去年下半年边际收敛，在信贷持续投放、地方债靠前发行的背景下，货币市场波动放大。同时，央行为维护资金面稳定，保持较高的公开市场逆回购余额，并于3月27日降准0.25个百分点。整体上，10年国债收益率呈现区间震荡，利率债收益率曲线趋于平坦化，信用利差在配置盘的作用下压缩较快。权益市场方面，年初延续了去年四季度以来的上行趋势，春节后受海外银行风险事件的影响，上证指数进入震荡调整，但是TMT板块在人工智能的产业催化下表现突出。  面对市场的分化和波动，我们通过资产结构调整，努力实现组合回报。具体操作上，纯债维持中短久期和中高等级的持仓结构。权益部分，为控制回撤在市场预期变化时及时灵活调整了整体仓位，并在AI引领的TMT板块，适度配置了有实际受益且业绩估值匹配的标的。  随着防疫政策优化和春节后经济活动逐渐恢复，一季度国内经济表现较好，制造业生产经营持续回暖，PMI 明显好转。此外，金融数据也超预期，并且结构上企业与中长期信贷恢复明显，居民信贷同比也有大幅改善。预计二季度经济将延续回升态势，工业生产、消费、地产数据仍有改善空间，内需动力将继续增强。流动性方面，预计央行将在继续做好支持实体经济工作的同时，更注重资金使用效率，货币工具调节更加合理适度。海外方面，美联储加息进程接近尾声，流动性回流压力将逐渐放缓。  4月将进入季报验证的重要窗口期，重点寻找业绩确定性高且有持续成长性方向，比如消费和医药板块，二季度低基数效应下，随着居民信心逐步恢复，带动相关需求朝着积极方向恢复。成长板块从新能源过渡到以数字经济为代表的产业投资方向，计算机领域重点信创和AI相关，半导体的算力芯片，通信领域的运营商，应用端的游戏广告均有望从中受益。另外，从中期维度上看，顺周期板块和国央企改革也是重要关注方向。转债市场在磨底过程中，高性价比转债的可选性开始增强，关注业绩较好、估值合理的相关标的。纯债方面，维持中短久期策略，力争获取稳健的票息收益。  下一阶段我们将积极关注经济走势和政策动向，动态调整组合权益部分的行业分布和个股集中度、债券部分的久期和仓位，加强流动性管理，严格防范信用风险，进一步优化投资组合，力争为投资者获取较好的收益。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:42:30.614Z","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.000Z","setUpAssetScale":278605022.69,"setUpShares":278605022.69,"pinyin":"cxwjjh6gycyqhhxzqtzjj","managers":[{"stockCode":"j101020091","stockType":"fund_manager","exchange":"fm","tickerId":81303251050,"name":"胡梦承"},{"stockCode":"8801362509","stockType":"fund_manager","exchange":"fm","tickerId":1216110060,"name":"李仆"}]},"announcement":{"linkText":"长信稳健均衡6个月持有期混合型证券投资基金2023年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=884766","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece467fea5b3eb04e7cb4","date":"2022-12-30T16:00:00.000Z","stockId":3000000011105,"sao":"2022年受到国内经济增速下行和海外俄乌冲突等事件影响，A股市场波动较大，各大指数均收跌，其中创业板指回调幅度大于上证综指。从板块来看，不同行业涨跌幅分化严重，煤炭板块一枝独秀，年内涨幅超过10%，大部分板块均出现不同程度的回调。值得关注的是，四季度随着国内地产和疫情防控政策的优化，市场迎来了一波猛烈的修复上涨行情，尤其以恒生科技、A50为代表的板块标的表现强势。债券市场方面，利率全年呈现震荡行情，年末快速上行，但是随着流动性恢复市场逐步企稳。  面对市场的分化和波动，本基金通过资产结构调整，积极应对行情变化。纯债维持中短久期和中高等级的持仓结构，规避了年末的市场冲击。在市场底部坚定加仓被错杀的资产，把握了后续的修复行情。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:42:30.611Z","mo":"展望2023年，全球经济周期或将继续错位，海外经济可能面临衰退，国内经济有望迎来低基数下的好转。地产小周期企稳，防疫政策优化促进消费向合理中枢回归，内需替代外需，消费、基建或将替代出口成为经济增长的主要推动力量。因此，2023年经济逐步复苏回暖是大概率事件，与此同时企业和居民的信心也将同步恢复，无风险利率或有上行压力，权益市场有望迎来逐级向上的行情。  经济复苏作为重要主线所包括的行业和细分领域非常丰富。我们看好三个方向：（1）和宏观经济有强相关性而且估值很低的公司，大多是在港股，尤其互联网公司面临的是政策环境改善，宏观经济和业绩改善，也就是估值和利润的双击。（2）目前市场预期不高的地产链条，后续政策的推进和终端数据随着疫情政策调整有超预期的可能性。其中建材，家居等细分领域估值便宜，行业还有供给侧出清的逻辑。（3）成长股也有和宏观经济关联度比较高的公司。消费电子受到产品周期下行，全球经济下行需求不好影响；计算机板块则是经济下行周期里企业缩减IT支出。一旦经济复苏，这些负面因素都会得到修正。  我们将继续秉承谨慎原则，密切关注经济走势和政策动向，寻找权益资产的增强机会。坚持对信用风险的严格把控，加强组合的流动性管理，紧跟组合规模变动进行资产配置，争取在保证流动安全的前提下，为投资者获取更好的收益。","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.000Z","setUpAssetScale":278605022.69,"setUpShares":278605022.69,"pinyin":"cxwjjh6gycyqhhxzqtzjj","managers":[{"stockCode":"j101020091","stockType":"fund_manager","exchange":"fm","tickerId":81303251050,"name":"胡梦承"},{"stockCode":"8801362509","stockType":"fund_manager","exchange":"fm","tickerId":1216110060,"name":"李仆"}]},"announcement":{"linkText":"长信稳健均衡6个月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=871669","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece467fea5b3eb04e7cb3","date":"2022-09-29T16:00:00.000Z","stockId":3000000011105,"sao":"三季度，股票市场呈现震荡分化的行情格局，其中以上证50为代表的大盘指数最先调整，期间的中小盘股保持相对强势，市场存在结构性赚钱效应，但是8月下旬以后前期强势的板块也出现了回调，使得整体市场风险偏好降低。三季度，债券市场的收益率整体下行，一方面是因为经济增速下行压力增大，另一方面资金面始终保持宽松，政策利率再度下调。经济复苏与“宽货币”成为债市交易的主题，大量配置需求进一步加强了流动性宽松，多重因素使得利率中枢螺旋式下降。  面对市场的分化和波动，我们通过资产结构调整，努力控制组合的回撤。具体操作上逐步降低权益仓位，包括股票和可转债。结构上更加均衡，无论是行业配置还是大小盘风格方面，同时也加大了对业绩确定性和估值合理性的要求。纯债方面，维持中短久期和中高等级的持仓结构，以获取确定性票息。  展望四季度，我们对国内经济和企业盈利的恢复充满信心，并且对市场的企稳回升保持乐观。目前市场底部特征比较明确，一是市场估值已经回到历次历史大底时的估值区间，二是市场情绪、投资者仓位和交易热度均已降至历史中低位。前期由于出口延续相对强势，基建等支撑经济政策落地显得不那么急迫，随着时间的推进，政策落地效果必将逐步提升。因此，站在中长期的视角，目前市场的底部位置非常扎实，未来市场大概率将伴随着国内新一轮经济周期的开启而重新步入上行趋势中。  行业配置方面重点关注，（1）中长期产业逻辑没有变化的景气赛道，例如新能源车、风电光伏等，业绩的绝对增速并不低，而股价经过调整后相较于其他板块估值性价比更高；（2）消费，白酒、化妆品/消费医疗等，其中的龙头公司有望展现业绩的韧性；（3）三季度环比向上或有催化行业，如储能、火电、军工板块、VR相关、建材家居等。转债市场经过近一个多月的调整，整体赔率改善。后续伴随正股市场企稳反弹，以及流动性稳定的情况下，对短期业绩较优、行业景气持续且估值合适的转债标的提升关注。债券市场的资金面有望延续宽松，杠杆套息策略仍然占优。  下一阶段我们将积极关注经济走势和政策动向，动态调整组合权益部分的行业分布和个股集中度、债券部分的久期和仓位，加强流动性管理，严格防范信用风险，进一步优化投资组合，力争为投资者获取较好的收益。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:42:30.609Z","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market"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下半年市场驱动力更多转向经济基本面的实际改善，在经济复苏的过程中，流动性影响在边际减弱，而对盈利修复进入验证期。关注的方向中，光伏、新能源车、军工依然是景气较好的行业。其它板块也有边际向好，例如经济复苏，需求修复的疫后出行餐饮等，以及上涨供给约束下的能源石化、生猪养殖等。转债市场估值目前又回到历史较高水平，市场存在结构性机会，包括高景气赛道的趋势延续和底部反转且安全边际较高的方向。债券市场随着宽货币逐步向信用传导，可能呈现震荡走趋，因此配置维持中短久期高等级的安全品种。  我们将继续秉承谨慎原则，加强组合的流动性管理，在做好风险控制的同时，增加对新经济环境下信用风险的审慎判断，积极寻找权益资产的增强机会。密切关注经济走势和政策动向，紧跟组合规模变动进行资产配置，争取在流动安全前提下，为投资者获取更好的收益。","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.000Z","setUpAssetScale":278605022.69,"setUpShares":278605022.69,"pinyin":"cxwjjh6gycyqhhxzqtzjj","managers":[{"stockCode":"j101020091","stockType":"fund_manager","exchange":"fm","tickerId":81303251050,"name":"胡梦承"},{"stockCode":"8801362509","stockType":"fund_manager","exchange":"fm","tickerId":1216110060,"name":"李仆"}]},"announcement":{"linkText":"长信稳健均衡6个月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=786596","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece467fea5b3eb04e7cb1","date":"2022-03-30T16:00:00.000Z","stockId":3000000011105,"sao":"一季度由于受到疫情和地缘冲突等因素的影响，呈现震荡下跌态势，3月中上旬更是出现了一轮加速调整，3月16日金融委会议后信心有所恢复，市场有所反弹。结构方面，各个板块之间表现分化，以煤炭为代表的能源板块，和以金融地产为代表的稳增长板块表现较好。债券市场年初在降息政策和基本面悲观预期推动下，长端利率先快速下行，春节后涨幅有所回吐。信用债收益率小幅上行，信用利差多数走阔，信用风险整体可控。  去年四季度，我们结合企业估值、宏观基本面和流动性，适度调整过资产配置。具体操作上降低了权益仓位以控制回撤。纯债方面，我们维持中短久期和中高等级的持仓结构，以获取确定性票息。  二季度经济或将有所修复。虽然短期仍有疫情扰动，但我们相信随着疫情逐步得到控制，稳增长政策将明显发力，社融增速将有所提升，这些积极的因素将共同改善对宏观经济和企业盈利的预期。海外俄乌局势等问题虽然不会快速得到解决，但不确定性正在下降，将进一步缓解投资者的担忧。因此，我们对二季度市场表现保持乐观，站在目前的位置上，我们不仅仅是看短期，更看好权益市场中长期的配置价值。同时，我们仍密切关注国内疫情发展和政策推进的情况，以及海外能源价格和联储货币政策的变化。  考虑到经济基本面和流动性对行业景气度、估值水平的影响，我们认为稳增长是目前较为迫切的环节。地产基建的新开工有望提速，新基建的相关政策和地方政府的行动或也将发力，与之相关的金融地产、建材家具、通信电力等行业将首先受益。后续若政策如期兑现，经济预期好转，则消费医药等此前需求被压制的板块，还有新能源、军工等成长板块或将也会开始表现。转债方面，经过一季度的连续调整，高估值问题有所缓解，整体标的可选择性大幅改善。关注调整到位的优质标的，以及高性价比的绝对收益品种。纯债配置维持短久期高等级的安全品种。   下一阶段我们将继续保持审慎严谨的态度，密切关注经济走势和政策动向，适度调整组合权益部分的行业分布和个股集中度、债券部分的久期和仓位，加强流动性管理，严格防范信用风险，进一步优化投资组合，力争为投资者获取较好的收益。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:42:30.603Z","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.000Z","setUpAssetScale":278605022.69,"setUpShares":278605022.69,"pinyin":"cxwjjh6gycyqhhxzqtzjj","managers":[{"stockCode":"j101020091","stockType":"fund_manager","exchange":"fm","tickerId":81303251050,"name":"胡梦承"},{"stockCode":"8801362509","stockType":"fund_manager","exchange":"fm","tickerId":1216110060,"name":"李仆"}]},"announcement":{"linkText":"长信稳健均衡6个月持有期混合型证券投资基金2022年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=728609","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece467fea5b3eb04e7cb0","date":"2021-12-30T16:00:00.000Z","stockId":3000000011105,"sao":"2021年A股市场呈现出结构性行情的特点，市场主线包括年初核心资产的冲高回落，随后市场对于流动性预期进行修正，各个板块先后反弹。尤其在“十四五”规划纲要发布后，与碳中和相关的主题投资开始活跃。叠加7月上旬央行全面降准，整体市场风险偏好进一步提高，半导体、锂电等成长科技板块持续表现。三季度在PPI持续走高背景下，市场关注点全面转向上游，带动以煤炭为代表的结构性行情。进入四季度，市场盈利视角向明年切换，同时地产政策调整，此前调整较为充分的金融地产和基建板块开始反弹修复。债券市场方面，利率呈现“前高后低、中枢下行”的行情。本基金把握了市场主线，包括春季行情的顺周期，双碳目标下的新能源和传统周期。转债部分利用其资产特性，获取更多超额收益。债券市场以把握中性久期、中高等级信用债的票息收益为主。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:42:30.601Z","mo":"展望2022年，中央经济工作会议提出要“围绕保持经济运行在合理区间，加强和改善宏观调控”，要求“各方面要积极推出有利于经济稳定的政策，政策发力适当靠前”，这意味着上半年的宏观政策扩张力度将明显提升。财政政策方面,重点保证财政支出强度，加快支出进度，实施新的减税降费政策和适度超前开展基础设施投资。货币政策方面，强调灵活适度、合理充裕。因此，我们预计2022年国内经济大概率是一个回升的过程。对于海外市场，美国经济大概率是一个寻顶回落的过程，欧洲恢复趋势向好但是节奏或有反复。年初至今虽然市场有所调整，但是我们依然保持乐观，全年股市具有结构性投资机会，整体市场风格也会更加均衡。我们认为影响A股走势最重要的两个变量，宏观经济和货币政策都会持续向好，前者国内经济稳字当头，后者货币政策偏宽松。再结合目前的估值水平，我们会精选代表中长期产业升级的细分领域，挖掘具有竞争优势和业绩增长的优质标的。债券市场方面，利率在经济承压和政策稳增长之间波动，信用跟随利率会有滞后反应，需要精选个券并且把握好交易节奏。我们将继续秉承谨慎原则，密切关注经济走势和政策动向，配置上延续寻找盈利向上的行业和公司，积极寻找权益资产的增强机会。坚持对信用风险的严格把控，加强组合的流动性管理，紧跟组合规模变动进行资产配置，争取在保证流动安全的前提下，为投资者获取更好的收益。","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.000Z","setUpAssetScale":278605022.69,"setUpShares":278605022.69,"pinyin":"cxwjjh6gycyqhhxzqtzjj","managers":[{"stockCode":"j101020091","stockType":"fund_manager","exchange":"fm","tickerId":81303251050,"name":"胡梦承"},{"stockCode":"8801362509","stockType":"fund_manager","exchange":"fm","tickerId":1216110060,"name":"李仆"}]},"announcement":{"linkText":"长信稳健均衡6个月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=714606","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece467fea5b3eb04e7caf","date":"2021-09-29T16:00:00.000Z","stockId":3000000011105,"sao":"三季度权益市场表现依然分化明显，整体沪市表现强于深市，沪指小幅回调0.64%，深成指回调5.62%，创业板指回调6.69%。市场热点从科技成长逐步切换至周期板块，其中能源类和公用事业涨幅领先。同时市场表现活跃，单日成交量连续突破万亿，外资保持流入，两融余额稳步上行。债市方面，7月在国常会提出全面降准后，收益率下行，10年期国债收益率下行20BP至2.88%，收益率绝对水平回落到历史低位，随后围绕2.8-2.9%范围窄幅波动。信用债下行幅度小于同期限国债，信用利差略微走阔。由于上半年信用利差压缩较多，三季度虽然总体债市走牛，但是多数信用利差未进一步缩窄。三季度，我们结合基本面和流动性，通过对各类资产的灵活配置来为投资者获取稳定的回报。具体操作上，跟踪行业高频数据，加大了周期板块的配置力度，积极挖掘符合政策导向的产业投资机会。纯债方面，维持中短久期和中高等级的持仓结构，获取确定性票息。展望四季度，国内经济增长有望保持平稳，货币政策维持宽松格局，各项稳信用稳增长措施开始推进，虽然近期商品价格有所扰动，但不会成为货币和信用的掣肘。后续随着政府债券发行加快，加上基数因素减弱，社融余额同比增速将有所回升，同时不排除有进一步的降准举动进行配合。海外方面，疫情恢复仍在进程中，美国居民部门充裕的超额储蓄和较低的杠杆水平有效支撑消费需求，就业方面的职位空缺情况以及薪资情况均有大幅好转。密切关注美国债务上限，新的基建计划和联储taper的动向。四季度权益市场仍然有结构性机会，我们重点关注，受益于能源价格上行，新冠特效药上市后出行需求改善的油气板块值得关注。稳增长诉求下，新能源建设，信息建设和传统基建都有望发力，成为稳增长的主要方式。此前调整较为充分的消费医疗、互联网龙头、金融地产等，随着政策预期逐步稳定，也有望企稳回升。转债市场需要把握结构，对极高估值标的进行止盈，同时加强对估值相对较低、赛道次优标的挖掘。债券票息策略仍然占优，选择信用改善的产业债和区位较好的城投债，利率债方向等待货币政策和稳信用的进一步确认。下一阶段我们将继续保持审慎严谨的态度，密切关注经济走势和政策动向，适度调整组合权益部分的行业分布和个股集中度、债券部分的久期和仓位，加强流动性管理，严格防范信用风险，进一步优化投资组合，力争为投资者获取更好的收益。","declarationDate":"2021-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T13:42:30.598Z","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.00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权益市场经过一段时间的调整，目前整体估值并不高，伴随着流动性顾虑的消除，以及未来经济活动的稳定恢复，我们有理由对后市保持乐观。结构上，此次政治局会议提出，要挖掘国内市场潜力，支持新能源汽车加快发展，加快贯通县乡村电子商务体系和快递物流配送体系，加快推进“十四五”规划重大工程项目建设，引导企业加大技术改造投资。强化科技创新和产业供应链韧性，加强基础研究，推动应用研究，开展补链强链专项行动，加快解决卡脖子难题，发展专精特新中小企业。因此，这也是未来中国资本市场中最主要的投资投资方向。债券仍然具有配置价值，重点选择信用改善的产业债和区位较好的城投债，维持适度的杠杆水平。如果因流动性扰动、供给增加等因素导致利率上行，择机配置长久期资产。我们将继续秉承谨慎原则，加强组合的流动性管理，在做好风险控制的同时，增加对新经济环境下信用风险的审慎判断，积极寻找权益资产的增强机会。密切关注经济走势和政策动向，紧跟组合规模变动进行资产配置，争取在流动安全前提下，为投资者获取更好的收益。","fund":{"_id":3000000011105,"__csrcFundId":8881,"stockCode":"011105","shortName":"长信稳健均衡6个月持有期混合(011105)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":11105,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:39:00.797Z","status":"normal","name":"长信稳健均衡6个月持有期混合型证券投资基金","exchange":"jj","followedNum":1,"inceptionDate":"2021-03-29T16:00:00.000Z","fundCollectionId":4000050260000,"currency":"CNY","masterFundShortName":"长信稳健均衡6个月持有期混合","setUpDate":"2021-03-29T16:00:00.000Z","setUpAssetScale":278605022.69,"setUpShares":278605022.69,"pinyin":"cxwjjh6gycyqhhxzqtzjj","managers":[{"stockCode":"j101020091","stockType":"fund_manager","exchange":"fm","tickerId":81303251050,"name":"胡梦承"},{"stockCode":"8801362509","stockType":"fund_manager","exchange":"fm","tickerId":1216110060,"name":"李仆"}]},"announcement":{"linkText":"长信稳健均衡6个月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=634397","linkType":"PDF","source":"csrc_pdf"}}]}