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"_id":3000000011319,"__csrcFundId":8681,"stockCode":"011319","shortName":"国泰上证综合ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11319,"masterFundFlag":1,"lastUpdated":"2026-04-10T17:08:18.254Z","status":"normal","inceptionDate":"2021-01-21T16:00:00.000Z","name":"国泰上证综合交易型开放式指数证券投资基金发起式联接基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050010000,"currency":"CNY","masterFundShortName":"国泰上证综合ETF联接","setUpDate":"2021-01-21T16:00:00.000Z","setUpAssetScale":10835859.11,"setUpShares":10835859.11,"pinyin":"gtszzhjyxkfszszqtzjjfqsljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000001,"managers":[{"stockCode":"j101019947","stockType":"fund_manager","exchange":"fm","tickerId":260225241670,"name":"朱碧莹"}]},"announcement":{"linkText":"国泰上证综合交易型开放式指数证券投资基金发起式联接基金2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=989877","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece6d7fea5b3eb04eaea7","date":"2023-06-29T16:00:00.000Z","stockId":3000000011319,"sao":"A股上半年整体波动较大。一季度受到大语言模型ChatGPT及其突破性的用户交互体验的影响，计算机，通信，传媒等TMT板块受到了投资人的追捧，成交活跃，带动A股震荡抬升。二季度经济复苏不及预期，5月的出口数据走弱，出口金额同比下降7.5%，CPI和PPI同比继续走低。投资人风险偏好下降，投资由一季度的概念导向转向业绩导向，使得市场整体呈现快速轮转的效应。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:09.651Z","mo":"如何提振消费仍然是经济复苏的核心问题。在货币政策效果不及预期的情况下，经济的恢复期可能要持续的更长，这很大程度上影响了投资人的风险偏好。下半年是否会出现财政刺激，财政、货币政策如何形成合力，接下来的政策“组合拳”可能是推动A股走势的核心。除此之外，AI作为跨时代的产物，仍具有很强的投资机会。","fund":{"_id":3000000011319,"__csrcFundId":8681,"stockCode":"011319","shortName":"国泰上证综合ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11319,"masterFundFlag":1,"lastUpdated":"2026-04-10T17:08:18.254Z","status":"normal","inceptionDate":"2021-01-21T16:00:00.000Z","name":"国泰上证综合交易型开放式指数证券投资基金发起式联接基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050010000,"currency":"CNY","masterFundShortName":"国泰上证综合ETF联接","setUpDate":"2021-01-21T16:00:00.000Z","setUpAssetScale":10835859.11,"setUpShares":10835859.11,"pinyin":"gtszzhjyxkfszszqtzjjfqsljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000001,"managers":[{"stockCode":"j101019947","stockType":"fund_manager","exchange":"fm","tickerId":260225241670,"name":"朱碧莹"}]},"announcement":{"linkText":"国泰上证综合交易型开放式指数证券投资基金发起式联接基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=958487","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece6d7fea5b3eb04eaea6","date":"2023-03-30T16:00:00.000Z","stockId":3000000011319,"sao":"A股一季度呈现震荡上行。大盘代表沪深300上涨5.04%，中小盘代表中证500和中证1000分别上行9.24%和9.81%。板块行业上，计算机，通信，电子分别上涨39.89%，29.50%以及16.62%。一季度在风格上是明显的小盘成长，行业上是TMT板块。一季度之中OpenAI继ChatGPT之后推出了最新的GPT-4模型，以其突破性的用户体验带动整体计算机，软件行业的增长。2月27日，我国国务院印发了《数字中国建设整体布局规划》，其中指出，建设数字中国是数字时代推进中国式现代化的重要引擎，是构筑国家竞争新优势的有力支撑。进一步推升了包括计算机等TMT板块的热情，板块成交量活跃。","declarationDate":"2023-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:09.648Z","fund":{"_id":3000000011319,"__csrcFundId":8681,"stockCode":"011319","shortName":"国泰上证综合ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11319,"masterFundFlag":1,"lastUpdated":"2026-04-10T17:08:18.254Z","status":"normal","inceptionDate":"2021-01-21T16:00:00.000Z","name":"国泰上证综合交易型开放式指数证券投资基金发起式联接基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050010000,"currency":"CNY","masterFundShortName":"国泰上证综合ETF联接","setUpDate":"2021-01-21T16:00:00.000Z","setUpAssetScale":10835859.11,"setUpShares":10835859.11,"pinyin":"gtszzhjyxkfszszqtzjjfqsljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000001,"managers":[{"stockCode":"j101019947","stockType":"fund_manager","exchange":"fm","tickerId":260225241670,"name":"朱碧莹"}]},"announcement":{"linkText":"国泰上证综合交易型开放式指数证券投资基金发起式联接基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=888583","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece6d7fea5b3eb04eaea5","date":"2022-12-30T16:00:00.000Z","stockId":3000000011319,"sao":"2022年全年股市遭遇了多只黑天鹅的冲击，如欧洲地缘政治、如美联储大幅加息、如疫情超预期爆发等。开年不久即暴跌，二季报我们曾经判断二季度暴涨后的科技板块三季度可能迎来调整，带来大盘的调整。三季报我们曾经判断四季度表现优于三季度，因为股市在三季度末已进入极度悲观情况。四季度的实际表现稍微弱于预期，一方面大会召开后的股市调整超出了预期，另一方面疫情政策的转向比市场整体预期提前了好几个月，不过市场还是艰难地爬坡，最终上证综指全年下跌15.13%。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:09.644Z","mo":"2023年我们预计随着疫情政策的优化，第一驾马车消费即将有望迎来复苏。虽然当前很多人都还阳着或者阳后还在缓慢康复中，不过三亚、云南等热门旅游目的地，又已经人满为患了，北京又开始堵车了。我们看好23年消费的复苏，但也认为消费增速的反弹可能高度有限，回不到2019年没有疫情以前的增速。我们看好食品饮料、医药行业的反弹，不过食品饮料反弹幅度可能没有医药行业高。受疫情影响的旅游、影视等可选消费品也有望迎来复苏。汽车作为促消费的抓手，预计2023年也有阶段性机会。交运板块也会迎来复苏机会。 第二驾马车是投资，投资可以分为房地产、基建和固定资产投资增速。我们认为由于房地产产业链在国民经济中的重要性，2023年我们可能还会看到房地产供给端和需求端持续松绑政策迭出，房地产、家电、建材等相关细分行业也有阶段性机会。基建在历史上和房地产会形成跷跷板关系，因此需要密切关注房地产修复程度的进展。固定资产投资增速从2019年开始就是持续向上的态势，预计2023年国家还将加大固定资产投资增速尤其是高端制造业投资增速的力度，不过考虑到海外重要经济体的经济增速大概率下行，受到第三驾马车出口的拖累，2023年的固定资产投资增速有可能受到扰动，因此可聚焦在关注内需的自主可控主线，芯片、信创、军工、工业母机等行业，都值得关注。碳中和主线的光伏和新能源车基本面预期仍将维持景气，但受到出口收缩影响，可能波动有所加大。 流动性方面，我们认为2023年应该是整体偏宽松的。首先我们没有在2020年疫情爆发之时像美联储那样直接将基准利率直接降为了0，留出了操作的空间。其次，2023年美联储加息步伐有望放缓，可能年底开始转向降息，给国内宽松留出了一定的空间。不过也需要关注2023年通胀变化的情况，一旦通胀起来，就会制约货币宽松的空间。 市场的风险偏好难以准确捕捉和衡量，主要受到盈利、事件和政策的影响。盈利和估值双提升和双下杀被市场称为戴维斯双击和戴维斯双杀。可预期的事件不可怕，突发事件容易对市场情绪造成影响，2022年就出现了多个压制市场风险偏好的黑天鹅事件。目前来看2023年的潜在风险点可能是疫情的反复感染和通胀的爆发，不知道是否还会出现其它大的黑天鹅事件。政策的影响分为宏观政策和产业政策。比如碳中和政策、二十大发展安全可控，属于宏观政策，信创产业政策属于产业政策，在相关政策的驱动下，信创板块四季度表现出色。 因此2023年股市大概率优于2022年，各个行业和板块的投资机会也会层出不穷，轮动频繁，结构频出。可以适当地增加权益资产的配置，降低债券类资产的配置。","fund":{"_id":3000000011319,"__csrcFundId":8681,"stockCode":"011319","shortName":"国泰上证综合ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11319,"masterFundFlag":1,"lastUpdated":"2026-04-10T17:08:18.254Z","status":"normal","inceptionDate":"2021-01-21T16:00:00.000Z","name":"国泰上证综合交易型开放式指数证券投资基金发起式联接基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050010000,"currency":"CNY","masterFundShortName":"国泰上证综合ETF联接","setUpDate":"2021-01-21T16:00:00.000Z","setUpAssetScale":10835859.11,"setUpShares":10835859.11,"pinyin":"gtszzhjyxkfszszqtzjjfqsljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000001,"managers":[{"stockCode":"j101019947","stockType":"fund_manager","exchange":"fm","tickerId":260225241670,"name":"朱碧莹"}]},"announcement":{"linkText":"国泰上证综合交易型开放式指数证券投资基金发起式联接基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=866356","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece6d7fea5b3eb04eaea4","date":"2022-09-29T16:00:00.000Z","stockId":3000000011319,"sao":"三季度全球金融市场进入美国强劲加息周期，受持续高企的通胀走势和良好的就业形势影响，美联储全面转向鹰派，连续超出市场预期的75bp加息对全球金融市场带来压力，非美货币汇率大幅贬值，全球主要金融资产纷纷下挫；国内方面，受疫情持续多点发散，投资者对国内宏观经济形势预期较为悲观，A股市场延续下跌趋势，在美国出台芯片法案并持续对中国半导体芯片、高性能计算更大范围的打压下，包括半导体设备等国产化受益细分行业受到抛压；受俄乌局势持续影响，全球能源和粮食供应紧张局势加剧，以煤炭为代表的国内主要能源类公司叠加储能业务推进表现亮眼,受猪价上涨预期影响的养殖行业表现不俗。全季度来看，上证指数单边震荡下跌11.01%，大盘蓝筹股的表征指数如上证50下跌14.66%，沪深300指数下跌15.16%， 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