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的加息节奏。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:51:45.885Z","fund":{"_id":3000000014016,"__csrcFundId":10924,"stockCode":"014016","shortName":"中信建投品质优选一年持有期混合A","masterFundShortName":"中信建投品质优选一年持有期混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14016,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2025-01-01T23:59:33.560Z","status":"normal","exchange":"jj","name":"中信建投品质优选一年持有期混合型证券投资基金","fundCollectionId":4000050840000,"followedNum":2,"inceptionDate":"2022-03-27T16:00:00.000Z","setUpDate":"2022-03-27T16:00:00.000Z","setUpAssetScale":396682610.19,"setUpShares":396682610.19,"pinyin":"zxjtpzyxyncyqhhxzqtzjj","managers":[{"stockCode":"db20354725","stockType":"fund_manager","exchange":"fm","tickerId":121023151560,"name":"栾江伟"}]},"announcement":{"linkText":"中信建投品质优选一年持有期混合型证券投资基金2022年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=808129","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0717fea5b3eb050d26b","date":"2022-06-29T16:00:00.000Z","stockId":3000000014016,"sao":"本基金2022年3月成立，4月中下旬开始逐步加仓，目前和管理的其他基金仓位和持仓结构类似。基金坚持价值投资为主，主要持仓为锂电、光伏、有色、医药、风电、电子、建材等板块，持仓以高景气度的股票为主。持仓行业集中度较低，个股集中度较为分散，持仓市值增加中小市值个股，增持部分细分行业龙头股。年初以来因为经济预期悲观导致成长股持续暴跌至4月底，当时持仓成长股为主，导致净值回调幅度较大，4月末成长股止跌反弹，4月末之前基建、地产、银行、疫情复苏、煤炭、新冠药物等持续活跃，4月末之后新能源汽车相关板块、光伏相关板块、风电相关板块等大幅反弹，煤炭板块持续上涨。当前投资可能更多的是关注赛道板块小周期的景气度，长期逻辑在淡化。考虑到目前市场反弹到相对较高位置，基金短期将控制好仓位，耐心寻找再次加仓机会，更加注重自上而下的板块机会，对于把握性相对比较强的板块将增加配置比例，尽量减少过早的左侧交易。未来，个股持仓集中度仍然会比较分散，但行业集中度将提升，行业过于分散净值难以大涨。寻找业绩未来高增长的行业和个股在以后的投资中将是第一位的。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:51:45.881Z","mo":"中长期来看，我们认为经济增速逐步下台阶是新常态，不要过分关注GDP增速，而应该重点研究行业趋势。上半年各种经济刺激政策频繁出台，下半年预计经济短期弱复苏，但长期仍然面临盈利和增长的问题。各行业内卷日趋严重，行业拐点把握尤其重要，拉长看，短期高景气的行业未来几年业绩也可能因为进入者太多、竞争加剧导致利润暴跌。指数中长期看，波动区间也不会很大。结构性分化仍然会非常明显，市场机会还是在少数板块和个股，市场对基本面要求越来越苛刻，对利空反映越来越敏感，对利好反映敏感度不高，市场交易会一直比较活跃，拥有短中长向好逻辑并且估值较低、股价位置较低的好股票发现难度越来越大。资金抱团和赛道投资仍然会很明显，市场交易特征明显，板块和个股波动性明显加大。机构资金主要集中在极少数景气度向上的热门赛道行业，游资仍然乱炒各种主题。A股的投资逻辑正在受海外机构投资者的影响，和美股、港股的投资逻辑越来越趋同。2022年下半年将重点配置景气度向上的细分行业龙头股，将增加配置中小市值比例。中小市值股票过去几年涨幅严重落后，不乏一些基本面优异、估值较低的细分龙头，当然大部分中小市值股票还是没有机会，只有极少数机会会比较明显。超级大市值股票由于过去几年涨幅巨大，市场对其基本面要求更苛刻，波段操作为主。下半年将维持中性仓位，增加持仓的行业集中度。","fund":{"_id":3000000014016,"__csrcFundId":10924,"stockCode":"014016","shortName":"中信建投品质优选一年持有期混合A","masterFundShortName":"中信建投品质优选一年持有期混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14016,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2025-01-01T23:59:33.560Z","status":"normal","exchange":"jj","name":"中信建投品质优选一年持有期混合型证券投资基金","fundCollectionId":4000050840000,"followedNum":2,"inceptionDate":"2022-03-27T16:00:00.000Z","setUpDate":"2022-03-27T16:00:00.000Z","setUpAssetScale":396682610.19,"setUpShares":396682610.19,"pinyin":"zxjtpzyxyncyqhhxzqtzjj","managers":[{"stockCode":"db20354725","stockType":"fund_manager","exchange":"fm","tickerId":121023151560,"name":"栾江伟"}]},"announcement":{"linkText":"中信建投品质优选一年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=786692","linkType":"PDF","source":"csrc_pdf"}}]}