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年，全球经济格局复杂但相对稳定，美国步入降息周期，与此同时，中国开启需求侧刺激，一系列政策拉动内需，推动经济高质量发展。积极的财政政策加大在基础设施建设、民生保障等领域投入，刺激消费和投资；稳健的货币政策保持市场流动性合理充裕，为企业融资和发展提供有力支持。在这样的宏观环境下，低碳经济领域迎来新发展机遇。政策支持和市场需求增长，推动新能源汽车、锂电、风电、光伏、电力等行业带来不同方向的变化，有供给侧，亦有需求侧，总体来看，需求侧拉动更大一些。2024 年上半年，考虑市场不确定性和行业稳定性，产品配置公用事业例如电力行业。公用事业行业有稳定现金流和收益，在市场波动中提供一定防御性。电力行业作为经济发展基础，随着需求侧刺激政策实施，电力需求稳步增长，为相关企业带来稳定收益。进入下半年，随着一系列托底+增加有效需求的政策推出，成长方向投资机会显现。基金逐步增加在新能源汽车、锂电方向的配置。新能源汽车行业在政策推动下，市场需求快速增长，技术创新不断加速。锂电作为新能源汽车核心部件，市场需求呈现爆发式增长。而光伏、风电、储能亦有供给侧的结构变化。我们秉承 “产业调研、龙头配置” 思路，通过深入产业调研和高频访谈，重点关注细分行业的龙头公司进行配置，也同时关注产业变化和科技化、智能化、AI化带来的边际变化。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:16.826Z","mo":"2025 年，全球宏观经济政策走向依旧是投资决策的重要风向标。海外相对稳定，因此目光主要聚焦国内：供给侧改革则致力于优化产业结构，提高产业竞争力。在低碳经济领域，供给侧改革将推动新能源、锂电、风电、光伏等行业淘汰落后产能，提高资源利用效率，促进产业向高端化、智能化方向发展。政策对技术创新的支持力度也将不断加大，鼓励企业加大研发投入，突破关键核心技术，提升产业的整体创新能力。需求侧刺激和供给侧改革并行的政策举措，将为经济发展注入强大动力。需求侧刺激政策将继续发力，通过促进消费升级、加大基础设施建设投入等方式，拉动国内市场需求，为低碳经济相关产业创造广阔的市场空间。产业政策托底叠加 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制造或者配套等相对低等级的价值环节；而到了“双碳”时代，在中国双碳产业的龙头几乎都在全球产业格局更深地参与到产业分工和价值量分工。因此，在“双碳”战略深化推进的过程中，管理人尽量通过调研、访谈、数据比对的方式寻找到细分市场的优质公司进行配置，深度参与到能源变革的时代中。    本产品于2021年8月成立，以投资于低碳相关资产为主要方向，管理人集中研究于以光伏风电为主的能源板块，和以锂电渗透为主的电动车板块，在合理的估值区间内配置在产业链具有定价权的优秀团队。    展望2021年四季度，国内的光伏装机容量到年底有机会达到50-60Gwh，相当于3个三峡水电站，更不用说国内的光伏风电产业链已经深度参与到国际市场，在工业硅、硅料、电池片、组件、胶膜、玻璃、支架等领域均同时出口支撑国际的低碳能源发展；回顾2020年国内150万辆的电动车销量，2021年的电动车销量或有机会达到250万-300万辆的数量级，渗透率有望超过10%，处在加速渗透的环节，那么在电动车、电池材料、电动工具等细分领域预计也将诞生具有高速增长的优秀公司。同时，新增的低碳能源涉及到大量的电网设计、改造和动态调整，这对于国内电力系统的监控、系统化、智能化提升均提出了要求，也带来的投资方向。所以，管理人将继续秉承勤调研、多比对的投资思路，寻找深度参与到国内低碳战略推进的进程中，寻找到优秀的上市公司进行配置。","declarationDate":"2021-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:16.786Z","fund":{"_id":3000000012850,"__csrcFundId":9655,"stockCode":"012850","shortName":"国联低碳经济3个月持有混合(012850)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":12850,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-30T23:30:52.892Z","status":"normal","exchange":"jj","name":"国联低碳经济3个月持有期混合型证券投资基金","fundCollectionId":4000050820000,"inceptionDate":"2021-08-02T16:00:00.000Z","followedNum":0,"masterFundShortName":"国联低碳经济3个月持有混合","setUpDate":"2021-08-02T16:00:00.000Z","setUpAssetScale":1045975934.93,"setUpShares":1045975934.93,"pinyin":"gldtjj3gycyqhhxzqtzjj","managers":[{"stockCode":"db20563111","stockType":"fund_manager","exchange":"fm","tickerId":2307173770,"name":"吴刚"}]},"announcement":{"linkText":"中融低碳经济3个月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=653046","linkType":"PDF","source":"csrc_pdf"}}]}