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春节后，以DeepSeek为代表的中国AI大模型、以宇树科技为代表的人形机器人引领中国科技和智造资产重估，以恒生科技、A股汽车、机械、AI应用为代表的科技板块表现亮眼。  本季度主要收益来自于港股互联网、A股制造业的配置。从收益来源拆分来看，本季度主要得益于市场风险偏好提升带来的估值扩张，个股业绩回报仍待后续验证。本基金仍然以均衡配置为主，展望后市，全球市场在4月美国全面对等关税政策下巨震，本基金将重新审慎决策，适当增加内需板块的配置。  影响投资结果的因素众多，本人能做到的是努力工作提升专业水平为投资者创造更好的回报。提醒投资者谨慎投资，祝投资者身体健康、身心愉悦。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.894Z","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业股票型证券投资基金2025年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1274900","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb593","date":"2024-12-30T16:00:00.000Z","stockId":3000000011349,"sao":"2024年全年上证50、沪深300和中证500分别上涨15.42%、14.68%和5.46%，市场在9月后迎来普涨。本基金全年收益符合预期。回顾全年，本基金上半年超额收益更为显著。本基金始终坚持“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，在组合层面本基金一直坚持行业均衡、估值均衡的配置思路。本人希望坚持长期投资理念的同时，不断完善自己的方法论，希望每年可以有一定的进步，以此来持续提升获取超额收益的能力。","declarationDate":"2025-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.892Z","mo":"我们预计国内经济政策以稳增长为主基调，中央财政仍有发力空间。海外经济体进入降息通道，虽然国际贸易政策仍有不确定性，但整体全球经济、金融环境有所改善。展望后市，我们认为A股估值已经较低，积极看好后市表现，港股市场也呈现了较好的配置价值。Deepseek等黑马的出现，亦让全球重新评估了中国科技资产的价值。我们看好全年市场风险偏好提升，同时期待在财政与货币政策加持下迎来基本面的拐点。","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业股票型证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1254728","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb592","date":"2024-09-29T16:00:00.000Z","stockId":3000000011349,"sao":"2024年第三季度权益市场呈现普涨，沪深300在本季度上涨16.07%，创业板指数涨幅达到29.2%，港股方面恒生国企指数上涨18.6%，恒生科技指数上涨33.68%。行业层面，非银、地产等行业涨幅领先，成长板块中TMT、新能源亦有优秀表现。本基金始终坚持“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。本季度市场上涨集中在9月24日开始的5个交易日，市场情绪加速演绎，行情使市场的贝塔收益远超选股的阿尔法收益。本基金在季度末净值接近历史新高，产品成立已满三年，投资者的陪伴收获了回报，本基金长期选股有效性依然可以验证。展望后市，我们认为A股估值合理偏低，市场短期情绪演绎结束后，有望转变为结构性行情，本基金继续保持自下而上个股挖掘优势，同时继续完善投资体系，争取为投资人创造更好的回报。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.889Z","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业股票型证券投资基金2024年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1174934","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb591","date":"2024-06-29T16:00:00.000Z","stockId":3000000011349,"sao":"2024年上半年，国内内需表现较弱，房地产行业仍在调整，居民消费能力和意愿仍待提振，基建投资和制造业投资呈现一定韧性；外需方面出口上半年表现可圈可点，欧美发达经济体补库存带动出口阶段性恢复增长，一带一路国家经过持续开拓后贡献了更为持续的出口增长。上半年A股主要指数涨跌互现， wind全A下跌8.02%，沪深300上涨0.89%，中证500下跌8.96%，中证1000下跌16.84%，中证2000下跌23.28%，相对而言，整体大市值股票表现远好于中小市值股票。恒生综指上半年上涨3.39%。行业层面，银行、煤炭、公用事业、家电、石化为代表的大盘红利表现较好。资金面角度，宽基ETF上半年累计净申购4000亿左右，主要集中在以沪深300为代表的权重指数，这部分增量资金解释了市场结构的分化。上半年市场呈现高波动，行情波动跟随经济基本面修复预期波动，但是又远大于基本面反馈。本基金始终坚持“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，上半年取得了一定的超额收益。归因分析来看，选股仍然是本基金最重要的超额收益来源，我们从2023年开始加强了对行业比较的研究投入，希望在保持选股优势的同时提升行业配置能力。上半年在产品业绩上有一定反馈，这是年初基于行业比较做出的配置调整。在成长的配置方向上，本基金加大了对出海板块的研究力度。本基金的投资策略始终希望找到的是估值合适的成长股，所以我们长期更大的投研精力放在长期可以有增长的领域。本基金在组合层面仍将坚持均衡配置的理念，我们将市场分为三大板块：泛消费、泛成长、泛周期，以往我们的研究和基金的配置主要在消费和成长两个方向上，未来一段时间我们会适当提升周期板块的研究力度。长期来看，本基金将坚持高质量的成长才是最持续的超额收益来源，努力挖掘高质量增长个股，以合理的估值买入并持有。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.886Z","mo":"展望下半年，宏观层面国内需求会有一定程度恢复，高质量发展大背景下，整体宏观经济以稳为主，映射到二级市场投资，可能仍然呈现的是结构机会较多的状态。下半年，美联储将开启较为确定的降息周期，国内流动性仍会边际宽松，在无风险收益率持续走低的状态下，市场风险偏好或将缓慢回升。展望下半年我们已经逐步看到了“以旧换新”等促进内需政策的落地，同时我们期待后续能有持续的稳定内需政策。在稳增长政策力度加强的前提下，市场的结构性机会可能会更加多样化，上半年较为极致的风格可能会有所收敛。同时参考国内目前长期国债利率，希望投资者适当调整大类资产收益目标，关注长期可持续的收益。展望后市，市场估值水平处于历史较低位置，我们继续保持自下而上个股挖掘优势，中长期完善投资体系，争取为投资人创造更好的回报。","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业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=1153317","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb590","date":"2024-03-30T16:00:00.000Z","stockId":3000000011349,"sao":"2024年一季度市场宽幅震荡，上证综指+2.23%，创业板指-3.87%，沪深300指数+3.10%，中证500指数-2.64%，恒生指数-2.97%，市场在经历一月份快速下跌后，二月份大幅反弹，三月份震荡走平，行情波动超过经济基本面的反馈。市场波动来源于微盘股的流动性危机，本基金去年底出于估值性价比原因调整了小盘股的配置，但产品依然面临了一定的回撤压力。小盘股在2月初经历流动性危机后，出现了较好的配置机会，本基金力争优中选优，调整了部分配置。行业配置中家电板块的表现在一季度较为理想，选股层面延续了去年的策略，本基金始终希望配置估值合适的成长股。展望后市，我们认为A股估值合理偏低，全年仍谨慎乐观，本基金继续保持自下而上个股挖掘优势，同时继续完善投资体系，争取为投资人创造更好的回报。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.884Z","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业股票型证券投资基金2024年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1073507","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb58f","date":"2023-12-30T16:00:00.000Z","stockId":3000000011349,"sao":"23年全年上证50、沪深300和中证500分别下跌11.73%、11.38%和7.42%。下半年市场轮动加快，风格上超大盘和超小盘有较好的超额收益。本基金始终坚持“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，在组合层面本基金一直坚持行业均衡、估值均衡的配置思路。本人希望坚持长期投资理念的同时，不断完善自己的方法论，希望每年可以有一定的进步，来持续提升获取超额收益的能力。回顾23年在选股层面依然发挥了自己的优势，，下半年在市场轮动较快的节奏中，本人增加了一些短期配置，未来在选股过程中会更加看重公司核心竞争力和估值匹配程度。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.881Z","mo":"我们预计国内经济政策以稳增长为主基调，中央财政仍有发力空间，房地产市场在经历去年下半年大幅下滑后环比有望逐步企稳。海外经济在经历23年美债利率高企后，通胀开始逐步下行，美国实际利率已经为正，今年某个时点可能进入降息通道。展望后市，我认为A股估值目前相对较低，积极看好后市表现，权益市场目前风险偏好极低，预计风险偏好将逐步回升。我们继续保持自下而上个股挖掘优势，同时继续完善投资体系，争取为投资人创造更好的回报。","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业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=1060645","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb58e","date":"2023-09-29T16:00:00.000Z","stockId":300000001134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00和中证500分别下跌19.52%、21.63%和20.31%，全球权益市场在2022年都面临较大的压力。本基金全年收益未达到年初预期，全年两位数负收益。回顾全年，本基金一季度回撤压力显著，主要3月份国内外都出现了不可控因素。在二季度的反弹行情中本基金积极抓住了反弹机会。三季度在宏观不确定性加强的情况下，本基金在一季度的基础上改善了回撤管理方式，主动降低股票仓位，产品波动率有所改善。四季度在市场下跌的过程中本基金积极加仓，期待获取更好的长期回报。本基金始终坚持“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，在组合层面我们一直坚持行业均衡、估值均衡的配置思路。2022年本基金在投资策略上提升了仓位管理的权重，主要考虑当年宏观环境的不确定性，全年仓位变动较以往年度更明显，未来在正常的市场环境下本基金仍将重点以选股和组合管理为主要投资策略。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.871Z","mo":"我们预计国内经济重点为市场复苏，政策以稳增长为主基调，整体投资环境较好。海外经济仍有不确定性，在经历2022年大幅加息后，欧美经济面临一定的衰退压力，好在海外通胀开始逐步下行，金融环境有所改善。展望后市，我们认为A股估值已经偏低，积极看好后市表现，本基金已经将权益仓位加至高位。同时，随着市场的变化，相信服务业在未来能够展现出更好的复苏。我们继续保持自下而上个股挖掘优势，同时继续完善投资体系，争取为投资人创造更好的回报。","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业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=873420","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb58a","date":"2022-09-29T16:00:00.000Z","stockId":3000000011349,"sao":"2022年第三季度全球市场普跌，基于通胀压力美联储加息和缩表节奏超预期，俄乌冲突的延续加深了通胀的复杂性以及全球金融市场的不稳定性，欧美市场债券收益率大幅上行，美元指数持续走强，其他货币贬值压力加大。本季度主要指数都出现了较大幅度的调整，沪深300下跌15.16%，中证500下跌11.46%，创业板指下跌18.56%。行业层面，多数行业板块下跌，大消费及成长类板块电子、新能源等调整幅度较大，所有行业中唯有煤炭收涨。港股在低位继续调整，恒生指数下跌21.21%，恒生科技指数下跌29.16%。本基金始终坚持“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，但不可否认本季度本基金面临了较大的净值下跌压力。在组合层面，我们一直坚持行业均衡、估值均衡的配置思路。在过往产品管理上，我们更注重选股来把握结构性机会，虽然本基金是主题型股票基金，但我们依然希望通过适当的均衡配置来控制回撤。本季度在坚持选股策略的基础上，适当提升了仓位管理策略。在一季报的时候，我们反思了阶段性防守效果不如人意的原因，提出未来如果再次面临复杂局面时需继续完善投资策略。在本季度国内外经济环境更趋复杂的情况下，我们加强了本基金的仓位管理，从8月份开始主动降低仓位，到9月的时候是本基金允许的最低股票仓位配置。 展望后市，我们认为A股估值已经偏低。战略层面，我们认为市场已经具备良好的长期投资价值。战术层面，四季度我们拟在下跌过程中逐步加仓，结合战略和战术把握长期超额收益、提升基金持有人体验。下一阶段我们继续保持自下而上个股挖掘优势，同时继续完善投资体系，争取为投资人创造更好的回报。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.868Z","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业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=810378","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb589","date":"2022-06-29T16:00:00.000Z","stockId":3000000011349,"sao":"2022年上半年全球宏观环境呈现复杂局面，年初在通胀压力之下美联储加息和缩表节奏超预期，俄乌冲突又加深了通胀的复杂性以及全球金融市场的不稳定性。进入二季度，内需压力在季初显现，进入6月份伴随国内疫情控制取得显著成果，经济活力开始稳步恢复。  上半年主要指数都有一定幅度的调整，沪深300下跌9.22%，中证500下跌12.3%，创业板指下跌15.41%。行业层面，多数行业板块下跌，成长类板块军工、电子、计算机等调整幅度较大，传统行业中煤炭、交运收涨。港股在低位继续调整，恒生指数下跌6.57%，恒生科技指数下跌14.11%。  本基金始终坚持“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，但不可否认本基金在上半年面临了较大的回撤压力。在组合层面我们一直坚持行业均衡、估值均衡的配置思路，但均衡策略阶段性呈现的回撤管理效果不尽如人意。反思原因在于市场的结构性机会较差，主要指数、行业、A股/港股面临普跌的局面。本基金在一季度主动小幅降低了股票仓位，在4月份市场悲观情绪下逐步加仓，这部分仓位管理为产品带来了一定收益。在持仓结构上，本基金依然坚持均衡配置的思路，精选估值合适的成长股是本基金长期坚持的主要策略，但是本基金作为服务类主题基金，服务型行业中典型如医药、传媒互联网、金融在本季度表现较差，导致本基金在上半年配置结构上偏弱。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.866Z","mo":"展望下半年，宏观层面国内内需增长将有所恢复，警惕海外从滞涨走向衰退。我们认为市场仍有结构性机会，伴随内需企稳回升，我们将在内需板块上加大研究力度与机会把握。同时我们将继续加强对专精特新个股的研究，中国有足够大的经济总量，不同细分领域都有足够优秀的上市公司值得投资。  本基金作为服务型主题基金，我们坚信长期来看服务型行业具备长坡厚雪的优势。下一阶段，我们继续保持自下而上个股挖掘优势，中长期继续完善投资体系，争取为投资人创造更好的回报。","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业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=788638","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb588","date":"2022-03-30T16:00:00.000Z","stockId":3000000011349,"sao":"2022年开年第一季度市场形势尤为复杂，基于通胀压力美联储加息和缩表节奏超预期，俄乌冲突又加深了通胀的复杂性以及全球金融市场的不稳定性，国内又面临疫情的多地扩散带来的供应链不稳定和经济增长压力。本季度主要指数都出现了较大幅度的调整，沪深300指数下跌14.53%，中证500指数下跌14.06%，创业板指数下跌19.96%。行业层面，多数行业板块下跌，大消费及成长类板块军工、电子、新能源等调整幅度较大，传统行业中煤炭、地产、银行收涨。港股在低位继续调整，恒生指数下跌5.99%，恒生科技指数下跌19.63%。本基金始终坚持“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，但不可否认本季度本基金面临了较大的回撤压力。本基金是服务业主题型基金产品，我们在主题范围内采取适度均衡的配置思路，但本季度均衡策略阶段性体现的回撤管理效果不佳，原因在于本季度市场的结构性机会较差，主要指数、行业、A股/港股面临普跌的局面。展望后市，我们认为A股估值已经合理偏低，战略层面我们认为市场已经具备良好的投资价值，值得长期投资；战术层面在二季度积极应对市场短期仍存的一些不确定性因素，结合战略和战术把握长期超额收益、提升持有人体验。港股市场部分优质股票估值已经具备充分的安全边际，我们考虑择机适当增加港股配置比例。下一阶段我们继续保持自下而上个股挖掘优势，同时继续完善投资体系，争取为投资人创造更好的回报。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.863Z","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业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=727437","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aece727fea5b3eb04eb587","date":"2021-12-30T16:00:00.000Z","stockId":3000000011349,"sao":"2021年新冠疫情在全球范围内持续肆虐，各国通过接种疫苗和研发新冠药品等方式来构建抗疫屏障，全球经济秩序逐步恢复中。由于疫情期间海外的持续宽松政策导致大宗商品原材料价格高企、通胀压力不断增加，全球逐步开始退出过度宽松的货币政策。中国保持了行之有效的疫情防控政策，上半年经济增长恢复势头良好，下半年经济下行压力加大，央行进行了两次降准，货币政策稳中有松。权益市场方面，2021年欧美市场整体表现强于亚洲市场，A股在2月创年内新高后进入宽幅震荡行情，全年小幅收涨；港股则受到多重因素压制，领跌全球。本基金成立于2021年8月，是本公司首支主题型股票基金，本基金的配置集中在现代服务业这一板块。回顾2021年，本基金在四季度取得了较好的回报，主要是本基金把握了较好的建仓节奏，在配置层面本基金主要配置于医药、金融、物业、电网、绿电等板块中符合现代服务业特征的个股，在现代服务业板块内挖掘个股的机会。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:43:14.860Z","mo":"2021年中国GDP增速呈现前高后低的走势，上半年疫情防控较为平稳，国内外需求恢复良好，出口保持快速增长，消费回暖，投资活跃，GDP实现双位数增长。下半年开始经济增长动能减弱，疫情呈不断散发状态，大宗原材料价格高企逐步向下游传导，CPI在四季度呈现抬头趋势，同时能源革命向深层次推进，政策层面强化部分行业的规范和监管，使得下半年经济呈现\"类滞胀\"情况，GDP增速逐季回落。展望2022年，全球新冠疫情何时结束尚无定论，海外经济和政治形势错综复杂，但全球货币政策边际收紧已成定势。国内在经济下行压力较大的背景下，\"稳增长\"或成为上半年主基调，政策层面或将更加积极，持续增强经济增长动能。A股整体估值仍然较为合理，展望后市，我们并不悲观，权益市场仍是可为的，但相比过去三年把握结构性机会的难度有所加大。过去两年在疫情的大环境之下，服务业中不少细分板块和中小公司遭遇了打击，国家陆续出台支持服务业复苏的政策，我们相信在后疫情时代服务业整体有望迎来逐步复苏，因此我们并不悲观；同时本基金也会在服务业这一板块中，优中选优选择配置长期符合产业升级、消费升级的大方向，真正配置具备现代属性、科技属性的服务业，获取更好的长期回报。港股市场在经历了大幅调整后，市场处在底部区域，我们考虑择机适当增加港股配置比例。我们相信，在注册制持续推进以及资本市场不断开放的背景下，A股及港股长期依然具备较好的结构性机会。我们将一如既往以兢兢业业、满怀责任的态度做好投资研究工作，为投资人创造更好的投资回报。","fund":{"_id":3000000011349,"__csrcFundId":9835,"stockCode":"011349","shortName":"淳厚现代服务业(011349)","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":11349,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T22:46:29.123Z","status":"normal","exchange":"jj","inceptionDate":"2021-08-23T16:00:00.000Z","name":"淳厚现代服务业股票型证券投资基金","fundCollectionId":4000051860000,"followedNum":0,"masterFundShortName":"淳厚现代服务业","setUpDate":"2021-08-23T16:00:00.000Z","setUpAssetScale":364983700.92,"setUpShares":364983700.92,"pinyin":"chxdfwygpxzqtzjj","managers":[{"stockCode":"db20886875","stockType":"fund_manager","exchange":"fm","tickerId":723225510,"name":"顾伟"}]},"announcement":{"linkText":"淳厚现代服务业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=710544","linkType":"PDF","source":"csrc_pdf"}}]}