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并且，美元降息重启叠加中国适度宽松的货币政策，我们判断市场仍会保持充沛的流动性。政策导向上对于资本市场的重视及呵护也将对股票投资者情绪给予持续的支撑。所以我们对于整体股票市场，尤其是大中盘资产依旧持积极态度，在12-36个月的维度上，维持中期牛市的判断。短期地缘方面，关税扰动再起或引发新的波动，我们将对组合中的风险增加分散度以及波动性控制，同时持续关注中美双方的互动进展，积极应对。","lastUpdated":"2026-03-09T13:53:47.890Z","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野混合型证券投资基金2025年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1376805","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb051511e","date":"2025-06-29T16:00:00.000Z","stockId":3000000014746,"sao":"2025年上半年权益市场虽然多有波折，但整体表现较为强劲。春节前市场经历了小幅调整之后，从春节期间至一季度末，在Deep-seek R1模型发布以及诸多机器人新产品视频发布的催化下，科技板块带领市场整体上行。4月初特朗普政府打出关税牌，加税力度远超市场预期，叠加全球出现了一些区域战争及军事摩擦，全球风险资产集体重挫。在恐慌情绪集中释放之后，随着全球地缘政治担忧的缓和以及关税进入到谈判阶段，A股和港股市场进入到了震荡上行的态势，投资者风险偏好逐步回升，市场波动率下行，港股做空比例回落至低位，医药、新消费、金融等板块呈现出强劲的结构性行情，成为了二季度市场交易的新主线。从港股行业涨跌幅来看，涨幅居前的创新药、金融、新消费、互联网标的大多承接了较大的南向资金流入，尤其是金融类个股和创新药个股受到南向资金面推动的效应比较明显。宏观层面，整体经济稳健增长，但二季度以来出现了一定的局部结构性压力，PPI有所走弱，地产整体销售情况有所降温，地方财政支出增速有所放缓，国内消费需求有待进一步激发。2025年2季度贸易冲突以来，我们看到无论是A股还是港股，中小市值个股的整体表现开始超越中大市值个股的整体表现，为主动型基金带来了更好的获取超额收益的投资环境。近期随着“反内卷”、“稳定币”、“重大工程”等新主题的形成，市场交易的主题方向有所扩散，市场进入到比较百花齐放的阶段，投资者情绪层面较为积极。组合运作层面，本基金发生了基金经理变更。本基金以价值投资为基石，结合不同行业产业周期所处的阶段、行业内的竞争格局、商业模式的特点、上市公司现金流情况、估值水平以及公司治理等多方面因素进行个股筛选，并在组合构建上保持风险暴露的适当多元化。2025年上半年，基金在医药、金融行业的配置进行了部分获利了结，并在2025年4月份关税冲击发生之后增加了对于全球布局的龙头制造业上市公司的配置，也对估值处于低位的消费、地产行业增加了一些布局。","declarationDate":"2025-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.887Z","mo":"展望2025年下半年，我们认为宏观层面的主导因素仍然是全球贸易格局的重塑以及国内是否有进一步举措巩固经济企稳回升的态势。我们重点关注以下几个方向的机会：1）\t我们预估成长方向景气轮动的情况有机会在2025年下半年得以延续。在创新药、新消费、科技互联网这三个主要成长方向中，现阶段我们对于科技互联网这个方向给予更高的期待。我们认为科技互联网板块当前仍有较多上市公司估值处在健康的水平，交易拥挤度不高，并且2025年下半年有望迎来更多新的催化。科技互联网方向中包含了自主可控 ERP、工业软件、人工智能、半导体、机器人、低空经济、汽车及汽车零部件产业以及互联网等相关的上市公司。2）\t在2025年上半年股价表现相对比较平淡的一些价值板块，我们认为在2025年下半年也可能会有一些不错的投资机会。内需相关的运动服饰、食品饮料、地产、家电、物业服务、地产、农林牧渔等行业中的一些龙头公司一方面自身基本面处于筑底回升的阶段，估值水平以及股息收益率水平有一定吸引力，同时2025年下半年将有望受益于潜在的政策推动以及2024年下半年盈利的低基数效应，我们认为在2025年下半年在这些板块中有望出现较好的个股投资机会。3）\t此外，我们认为关税冲突发生以后在出口方向也有一些被错杀的优质公司的投资机会，我们主要倾向于那些产业比较优势突出、龙头企业在行业内的相对竞争优势也很突出、已经完成了全球产能布局的制造业龙头企业。这些企业广泛分布在家电、家居、箱包、纺织服装制造、CXO、电子元器件、汽车零部件等行业。我们认为在关税纷争逐步尘埃落定之后，这些方向中已经具备全球布局能力的龙头企业的比较优势被验证后，投资逻辑有望得到强化，长期估值中枢有望抬升。此外，在黄金、铀、稀土等战略性资源品方向，我们也会适时进行小幅布局，从而平衡整体投资组合的地缘风险暴露。我们会综合平衡投资机会的胜率与赔率，努力把握机会力争取得理想的全年投资回报。","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野混合型证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1349485","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb051511d","date":"2025-03-30T16:00:00.000Z","stockId":3000000014746,"sao":"春节期间DeepSeek的事件出现后，通过第一时间学习国外很多科技领域专家对此话题的讨论，得出结论为这是一个跨时代有重要意义的技术进步，对中国资产也会有比较正面的推动。基于这样的判断，组合在年后很快调整为更偏成长的风格。具体配置方向上，一是布局互联网龙头及细分AI应用类公司，因为AI的技术进步有望带来渗透率的进一步提升，也有助于互联网企业迎来第二增长曲线；二是加大了有出海空间的创新药的配置，因为医疗板块过去几年在港股因为风险偏好低迷持续跑输市场，会受益于市场风险偏好的提升。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.884Z","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野混合型证券投资基金2025年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1273046","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb051511c","date":"2024-12-30T16:00:00.000Z","stockId":3000000014746,"sao":"2024年，受到全球经济环境、政策变化和市场情绪的多重影响，港股市场全年走势呈现出明显的波动性和阶段性特征。受益于全球经济复苏预期和部分行业的高股息吸引力，恒生指数在上半年整体呈现上涨趋势，但科技股表现相对疲软，恒生科技指数出现下跌。7月因国内经济数据疲软和市场对全球经济放缓的担忧，港股出现下跌。随后，在美联储降息和国内一系列刺激政策的推动下，市场出现显著反弹。四季度市场在经历三季度的大幅反弹后出现回调，恒生指数和恒生科技指数均出现下跌，中小市值公司表现相对较好，但整体市场情绪趋于谨慎。2024年初，基于对港股高波动性的判断，本基金采取了哑铃型配置策略，一方面超配高股息板块如能源和电信，另一方面在科技和互联网板块也有所布局，以应对高景气成长方向在产业趋势催化下的上行风险。本基金在7月初降低了组合仓位，延续了哑铃策略，聚焦高股息资产和优质成长股。在政策反转信号出现后，迅速加仓金融、地产和消费板块，并在市场上涨后对部分股票进行获利了结，保持中性仓位，同时增加了医药和科技股的配置。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.877Z","mo":"进入2025，中国市场将持续受到国内经济复苏力度、海外货币政策变化以及地缘政治不确定性的影响。展望未来，我们认为市场将进入政策与基本面共振的关键阶段。重点关注3月初全国“两会”的政策导向，尤其是对科技创新、绿色经济、消费提振等领域的支持力度。在当前市场环境下，我们重点看好以下投资机会：（1）困境反转逻辑：部分行业和个股经过过去几年的调整，估值已处于历史低位，需关注基本面改善的迹象，例如房地产产业链、部分消费细分领域。（2）政策支持方向：科技创新、高端制造等政策支持方向仍是中长期主线，建议精选具备核心竞争力的龙头企业。（3）稳定回报资产：在市场波动加大的背景下，高股息资产和防御性板块具备较好的配置价值，可为组合提供稳定收益。","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野混合型证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1253733","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb05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截至2024年一季度，上证指数上涨 2.23%，沪深300上涨3.10%，恒生指数下跌2.97%，恒生科技指数下跌7.62%。分行业来看，能源业和原材料业涨幅居前，地产建筑业和医疗保健业跌幅居前。资金流动层面，相较于2023年，海外资金从港股流出的趋势渐缓，南向资金持续流入，截至一季度净流入超过1300亿港币，对港股市场形成一定的支撑；海外宏观层面，美国通胀数据以及非农就业数据超预期，使得美联储的降息时点可能进一步延后、降息次数下降，对港股可能会形成一定的压制。后续我们会持续紧密跟踪美国宏观数据并判断其对港股市场所带来的影响。在组合操作上，春节前组合主动降低仓位并持有一定仓位的高股息资产来应对市场下跌；春节后而随着市场情绪好转以及年报业绩的披露，组合增加了估值低、业绩稳健以及保持一定增速的泛消费主题个股标的，在保持组合韧性的情况下，增加组合弹性。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.869Z","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野混合型证券投资基金2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1071593","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb0515118","date":"2023-12-30T16:00:00.000Z","stockId":3000000014746,"sao":"2023年上半年，在市场对美联储政策放松和中国经济增长修复的预期下，港股市场在开年迎来“抢跑”行情。但之后，中国经济的弱复苏使得投资者年初的强预期不断下修，港股市场也持续回调。因此组合在二季度将仓位适度降低，以求在政策、宏观经济不确定性较大的时期增加组合的防御性，同时将持仓聚焦在业绩确定性强、估值具有吸引力的个股上，特别是滞涨的绩优成长股，力求获得超额收益。进入下半年，在7月政治局会议后的一系列政策组合拳下，国内宏观经济出现了改善趋势，基本面预期逐渐向好，但仍呈现缓慢复苏的状况。海外层面，地缘风险扰动、美国通胀再度超预期引发美债利率冲高，对市场风险偏好带来一定扰动，也对港股形成一定压制。截至报告期末，恒生指数下跌13.82%，恒生科技指数下跌8.83%。截至报告期末，组合仓位处于中等偏上水平，板块上采用相对均衡的配置策略，将持仓聚焦在业绩确定性强、估值具有吸引力的个股以及部分具有较高贝塔的弹性标的。具体到板块变动上，本季度组合主要降低了泛消费板块的风险暴露，增加了高股息股票的占比，加强组合的防御性。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.866Z","mo":"展望中长期，中国经济将持续面临转型期的挑战，以发展先进制造，促进科技进步、刺激消费等为主要发展目标，逐步摆脱对地产和基建的依赖，经济增长中枢将不可避免下移。短期来看，市场已经在逐步消化对中长期较为悲观的预期，加上政策的托底，市场底部或许已经出现。","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野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=1058325","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb0515117","date":"2023-09-29T16:00:00.000Z","stockId":3000000014746,"sao":"进入三季度，在7月政治局会议后的一系列政策组合拳下，国内宏观经济出现了改善趋势，基本面预期逐渐向好。从已公布的宏观数据来看，各项指标表现分化：9月份社融超预期，信贷结构改善；9月出口强于预期，叠加9月PMI重回线上，指向当前经济环比好转的趋势；9月CPI再走低、新房销售弱、二手房销售没能大反转、假期消费温和修复等表示经济仍承压。我们认为三季度以来出台的政策组合拳效果已有显现，也基本确认了经济环比好转的趋势，但考虑到不少指标的背离，本质上当前经济应仍处底部、内生动能尚需提升，也需要政策持续发力。海外层面，地缘风险扰动、美国通胀再度超预期引发美债利率冲高，对市场风险偏好带来一定扰动，也对港股形成一定压制。截至报告期末，恒生指数下跌5.85%，恒生科技指数上涨0.24%。    本基金在三季度仓位小幅上升，板块上采用相对均衡的配置策略，将持仓聚焦在业绩确定性强、估值具有吸引力的个股以及部分具有较高贝塔的弹性标的，以求在政策、宏观经济的不确定性下可以攻守兼备。未来伴随着即将陆续披露的上市公司三季报，我们将力争重点持仓的公司不出现业绩大幅低于预期的同时持续挖掘新的投资机会。进入四季度，我们认为经济的自然修复会为优质的资产带来机遇，但市场的博弈及外围环境波动带来的挑战仍不容忽视，我们将会一如既往地秉持着严谨的投资理念，力求为投资者创造更高的投资回报。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.863Z","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野混合型证券投资基金2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=988931","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb0515116","date":"2023-06-29T16:00:00.000Z","stockId":3000000014746,"sao":"2023年上半年，在市场对美联储政策放松和中国经济增长修复的预期下，港股市场在开年迎来“抢跑”行情。但之后，中国经济的弱复苏使得投资者年初的强预期不断下修，港股市场也持续回调。截至报告期末，恒生指数与恒生科技指数分别下跌4.37%与5.27%。本基金在二季度将仓位适度降低，以求在政策、宏观经济不确定性较大的时期增加组合的防御性，同时将持仓聚焦在业绩确定性强、估值具有吸引力的个股上，特别是滞涨的绩优成长股，力求获得超额收益。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.861Z","mo":"展望下半年，国内方面，政策恢复经济和市场信心的努力还在继续。近期多部委密集召开会议和发布政策文件，释放加大宏观政策调控力度等信号，后续仍需关注具体政策的落地和实施效果。海外方面，当前美国加息预期放缓，经济增长仍然不差，后续仍需关注美国经济衰退的风险。在这一背景下，若要促使市场出现趋势性的突破和反转，仍有很多工作需要解决，例如政策转向的决心和力度，实际效果等。不过考虑到政策已经注意到当前经济问题，我们并不担心市场再创新低的下行风险，市场可能在比之前更高的中枢区间内震荡。","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野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=964195","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb0515115","date":"2023-03-30T16:00:00.000Z","stockId":3000000014746,"sao":"2023年一月份，在市场对美联储政策放松和中国经济增长修复的预期下，港股市场迎来“抢跑”行情，恒生指数在一月上涨12%。但随后，受美联储加息可能持续更长、终点利率更高，以及国际形势不确定性升温等因素影响， 市场再度大幅回调，几乎抹去一月份的涨幅。展望全年港股市场，尽管美联储加息路径较为曲折，但我们认为大概率会越来越接近加息的终点。本基金将继续保持相对高仓位运行，同时坚持均衡成长风格，在大消费、互联网、医药与医疗服务与先进制造等板块自下而上布局。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.858Z","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野混合型证券投资基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=883335","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb0515114","date":"2022-12-30T16:00:00.000Z","stockId":3000000014746,"sao":"2022年，市场整体受到国内外多重宏观因素影响。年初爆发的俄乌冲突对全球风险偏好产生一定冲击，也对能源供需格局造成较大影响，使得已处在高位的美欧通胀雪上加霜。美联储从一季度开始持续多次加息，使得美债收益率和美元指数大幅上升，资金从新兴市场等回流美国，对港股市场也形成了压制。国内层面，各地持续性的疫情爆发以及民营地产公司资金链紧张等对国内经济基本面形成一定冲击。在上述多重因素影响下，港股市场整体表现暗淡，主要指数均录得负收益。恒生指数跌15.46%，恒生科技指数跌27.19%。本基金于22年一季度发行，22年二季度完成建仓。自组合成立以来，我们均衡布局了成长与价格的风格，精选不同行业最优质的个股，淡化市场短期波动，稳步建仓。当然，面对对经济和企业长期发展前景有潜在深远影响的风险事件时，我们力图做出迅速和灵活的应对。例如，俄乌事件爆发后，我们积极听取了全球投研团队对事态的分析，考虑到复杂的国际形势风险会对全球商品供应链带来较高的不确定性，我们及时规避了盈利对大宗商品成本上升非常敏感的相关板块与个股。三季度，组合降低了受美联储加息负面影响较大的高股息价值股、增加下跌较多的消费、科技及医疗板块；四季度在市场随着“二十条”优化疫情防控措施出台后触底反弹时，降低基本面、股价表现对于疫情相对韧性的仓位，增加受益于防控政策放松的子板块如食品饮料、澳门博彩、香港保险等。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.855Z","mo":"从宏观层面来看，在中央强调扩大内需战略、防疫政策优化、地产政策接连发力，叠加政策维持宽松的背景之下，中国经济迎来复苏之年。从目前已公布的数据来看，2月份制造业PMI数据创12年4月以来新高，1月信贷创历史最高等，都见证了经济基本面的修复。从海外层面来看，2022年底市场普遍预期5月开始停止加息，但站在当前时点看，考虑到今年1-2月的强就业、强消费及持续性的通胀数据，美联储加息停止的时点可能延后，但方向不会逆转。因此，我们认为对于去年对港股市场造成较大影响的美元流动性的因素，虽还会对市场带来一定扰动，但是其所带来的冲击已边际减弱，对港股市场的判断更多由中国经济基本面及公司盈利来判定。当然，我们会持续关注国际局势风险是否有恶化的趋势。市场层面，自2月份以来，受到中美关系摩擦的干扰，港股市场进入震荡盘整期。从资金层面来看，目前外资配置资金对港股仍处于较低水平，后续随着经济基本面的持续兑现，这部分资金大概率会回流。从估值层面来看，尽管港股市场已经有部分修复，但是其估值仍处于历史上中低位水平。因此，综合宏观及市场因素，我们对港股长期仍保持积极乐观的态度。 从行业层面，我们主要关注以下几个板块：随着防疫政策优化、线下场景恢复而受益的可选消费和必选消费，尤其是后续基本面兑现强、估值处于历史合理水平的子板块；政策及竞争格局边际改善，在持续降本增效下盈利有望恢复的互联网板块；政策利空出尽、受益于疫后修复的医院和药房及估值修复的创新药板块；受益于经济大盘复苏及人口流动性改善的大金融板块包括香港本地银行保险股、多元金融及中国地产等。","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野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=870708","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb0515113","date":"2022-09-29T16:00:00.000Z","stockId":3000000014746,"sao":"2022年三季度，受海外加息预期、疫情反复以及国际局势等不确定性因素的影响，港股市场持续了上半年低迷态势。在报告期期间，恒生指数下跌 21.21%，恒生科技指数下跌 28.98%。我们的组合在此期间进行了进一步的优化和调整，仓位整体有所下降，将受到美国加息负面影响较大的高股息价值股进行了减仓，加仓了股价已经下跌很多的消费、科技以及医疗板块的个股。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.853Z","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野混合型证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=807740","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb0515112","date":"2022-06-29T16:00:00.000Z","stockId":3000000014746,"sao":"贝莱德港股通远景视野基金于2022年1月21日成立。组合成立至今，海内外金融市场经历与见证了美联储加息周期开启和缩表风险、俄乌事件、全球大宗商品通胀加剧、中美关系走向以及中国新一轮疫情的爆发使得消费和生产活动持续受压等。港股的表现亦受国内外宏观环境波及，从1月21日组合成立至本报告期末6月30日，恒生指数、恒生科技指数分别下跌12%、17%，最大回撤分别达到26%、41%。对于美国加息和中国经济增长等问题，我们于年初作出的研判仍基本适用，因此在投资上采取了灵活配置策略，并未固守单一主题或市场风格。但对于地缘政治走向和疫情发展等非经济和政策因素，我们认为很难准确预测并据此投资。站在2022年的第一天，极少数人可以预料到未来3个月影响港股市场走势的一个重大因素将会是一场7000公里外的冲突。因此，我们不会将投资决策建立在对短期市场走势的频繁判断上。自组合成立以来，我们均衡布局了成长与价格的风格，精选不同行业最优质的个股，淡化市场短期波动，稳步建仓。当然，面对对经济和企业长期发展前景有潜在深远影响的风险事件时，我们力图做出迅速和灵活的应对。例如，俄乌事件爆发后，我们积极听取了全球投研团队对事态的分析，考虑到地缘政治风险会对全球商品供应链带来较高的不确定性，我们及时规避了盈利对大宗商品成本上升非常敏感的相关板块与个股。在俄乌事件发生前，港股的表现在全球资产中位列前茅。人民币汇率的稳定性，港交所对美国上市中国企业“东归”的便利性，以及港股与A股、美股市场显著的差异性等都意味着——对于全球和中国内地投资者，港股市场的配置价值并未因这轮市场动荡而削弱，相反，在危机中，优秀上市公司的估值水平进入非常有吸引力的区间。港股做为离岸市场，因为资金属性和交易环境的不同，相对于A股市场的投资风格亦有很大差异。曾经南下抢夺定价权的呼声，现在变成了对港股犹豫不前。我们力求“用港股的方式投资港股”，不追逐空有概念没有盈利的主题，不博弈市场的边际预期。我们的组合目前在消费、医疗服务、高景气度的制造业等行业均衡布局，在各行各业中挑选管理优秀，竞争力领先，长期自由现金流能给股东带来回报、而不是摧毁价值的公司。面对外围环境的不确定性，我们力图抓住公司增长的最基本的驱动力，深入跟踪基本面，以求验证和加深自己的理解，在合理的估值买入有信心的股票，避免根据短期经营数据频繁买卖。","declarationDate":"2022-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.850Z","mo":"展望2022年下半年，中国经济、海外流动性以及国际局势仍然有较多不确定性，港股市场的波动也可能加大，但站在当前来看，港股市场的估值已经处于历史比较低的水平，具备长期投资价值。 我们认为未来疫情防控政策会继续走向常态化，中国政府提振经济的工具箱中仍然有较多的财政和货币手段，中国经济的韧性也会持续显现，海外投资者会重新审视香港市场的配置价值，港股市场也有望迎来资金的回流。","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野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=785824","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed0eb7fea5b3eb0515111","date":"2022-03-30T16:00:00.000Z","stockId":3000000014746,"sao":"贝莱德港股通远景视野基金于今年1月21日成立。组合成立至今，海内外金融市场经历与见证了美联储加息周期开启和缩表风险、俄乌事件、全球大宗商品通胀加剧、制裁俄罗斯引致的中美关系担忧、以及中国新一轮疫情的爆发使得消费和生产活动持续受压等。港股的表现亦受国内外宏观环境波及，从1月21日组合成立至本报告期末3月31日，恒生指数、恒生科技指数分别下跌12%、22%，最大回撤分别达到26%、41%。对于美国加息和中国经济增长等问题，我们于年初作出的研判仍基本适用，因此在投资上采取了灵活配置策略，并未固守单一主题或市场风格。但对于地缘政治走向和疫情发展等非经济和政策因素，我们认为很难准确预测并据此投资。站在2022年的第一天，极少数人可以预料到未来3个月影响港股市场走势的一个重大因素将会是一场7000公里外的冲突。因此，我们不会将投资决策建立在对短期市场走势的频繁判断上。自组合成立以来，我们均衡布局了成长与价格的风格，精选不同行业最优质的个股，淡化市场短期波动，稳步建仓。当然，面对对经济和企业长期发展前景有潜在深远影响的风险事件时，我们力图做出迅速和灵活的应对。例如，俄乌事件爆发后，我们积极听取了全球投研团队对事态的分析，考虑到地缘政治风险会对全球商品供应链带来较高的不确定性，我们及时规避了盈利对大宗商品成本上升非常敏感的相关板块与个股。在俄乌事件发生前，港股的表现在全球资产中位列前茅。人民币汇率的稳定性，港交所对美国上市中国企业“东归”的便利性，以及港股与A股、美股市场显著的差异性等都意味着——对于全球和中国内地投资者，港股市场的配置价值并未因这轮市场动荡而削弱，相反，在危机中，优秀上市公司的估值水平进入非常有吸引力的区间。港股做为离岸市场，因为资金属性和交易环境的不同，相对于A股市场的投资风格亦有很大差异。曾经南下抢夺定价权的呼声，现在变成了对港股犹豫不前。我们力求“用港股的方式投资港股”，不追逐空有概念没有盈利的主题，不博弈市场的边际预期。我们的组合目前在金融地产、消费、高景气度的制造业等行业均衡布局，在各行各业中挑选管理优秀，竞争力领先，长期自由现金流能给股东带来回报、而不是摧毁价值的公司。面对外围环境的不确定性，我们力图抓住公司增长的最基本的驱动力，深入跟踪基本面，以求验证和加深自己的理解，在合理的估值买入有信心的股票，避免根据短期经营数据频繁买卖。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:53:47.847Z","fund":{"_id":3000000014746,"__csrcFundId":10750,"stockCode":"014746","shortName":"贝莱德港股通远景视野混合(014746)","masterFundShortName":"贝莱德港股通远景视野混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":14746,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:20:54.968Z","status":"normal","exchange":"jj","name":"贝莱德港股通远景视野混合型证券投资基金","fundCollectionId":4000052060000,"inceptionDate":"2022-01-20T16:00:00.000Z","followedNum":3,"setUpDate":"2022-01-20T16:00:00.000Z","setUpAssetScale":313035442.59,"setUpShares":313035442.59,"pinyin":"bldggtyjsyhhxzqtzjj","managers":[{"stockCode":"db20815975","stockType":"fund_manager","exchange":"fm","tickerId":42412214260,"name":"单秀丽"},{"stockCode":"8801474972","stockType":"fund_manager","exchange":"fm","tickerId":211171250,"name":"毕凯"}]},"announcement":{"linkText":"贝莱德港股通远景视野混合型证券投资基金2022年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=727236","linkType":"PDF","source":"csrc_pdf"}}]}