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  本基金仍然坚持从长期的视角，在遵从价值发现规律和群体行为规律的前提下进行组合构造，以期待获取公司业绩成长和价值回归的双重收益。上半年，通过对股票和债券长期潜在风险收益的比较，组合维持较高的股票仓位，把精力聚焦在对公司的深入研究上。我们不断优中选优，去寻找优质且低估的公司，通过对公司过去发展的长期回溯分析，从公司所处的产业链竞争格局以及公司的商业模式和企业文化等各方面去给公司画像，并结合对未来的展望来判断公司当下所处的周期位置以及未来的成长性。我们在关注公司成长性的同时，始终保持以谨慎的态度进行动态估值。  固定收益部分本基金对债券配置采取短久期并严把信用关,保证了组合流动性，同时对组合收益有一定的增厚。  衷心感谢持有人的支持，我们将继续以诚实信用、勤勉尽责的原则管理基金，努力为持有人带来优异回报。","declarationDate":"2022-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T14:16:24.839Z","mo":"展望2022年下半年，伴随着稳增长政策的逐步出台和落实，宏观经济有望逐步回暖。但经济结构中的中长期问题仍需努力化解。新基建和促消费可能成为提振需求的重要方向。  股票市场在仍具有一定不确定性的宏观环境下，资金短期聚焦于景气度较高的行业和个股，使得一些短期景气度一般的优秀公司受到资金忽视，估值处于历史底部区间，这给我们的投资带来机会。我们认为当前市场对于一些行业竞争格局较好、长期增速稳健且空间随着发展逐步提升的行业中的优质公司在价值认知上存在预期差。随着时间的发展，当这类公司的成长性逐步得到体现的时候，它们的估值也将逐步回归合理。  2022年下半年，预计货币政策或仍维持中性偏宽松。在债券市场绝对收益率水平处于低位的当下，需要密切关注经济复苏的进展和通胀的情况，在策略上宜以关注票息资产的机会为主。","fund":{"_id":3000000673110,"stockCode":"673110","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-21T16:00:00.000Z","setUpScale":228552000,"market":"a","tickerId":673110,"custody":"中国银河证券股份有限公司","name":"西部利得新润灵活配置混合型证券投资基金","shortName":"西部利得新润混合(673110)","fundSecondLevel":"hybrid","__csrcFundId":4700,"fundStatus":"normal","lastUpdated":"2026-05-01T08:57:43.331Z","masterFundFlag":1,"inceptionDate":"2017-08-24T16:00:00.000Z","fundCollectionId":4000050620000,"currency":"CNY","masterFundShortName":"西部利得新润混合","pinyin":"xbldxrlhpzhhxzqtzjj","managers":[{"stockCode":"j101019604","stockType":"fund_manager","exchange":"fm","tickerId":719242260,"name":"葛山"}]},"announcement":{"linkText":"西部利得新润灵活配置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=780179","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed6387fea5b3eb0569f5b","date":"2022-03-30T16:00:00.000Z","stockId":3000000673110,"sao":"本季度股票市场整体呈下跌的趋势，在疫情反复、国际地缘冲突及美联储加息等事件的冲击下，科技及消费板块整体表现较差，电子、汽车、电力设备及新能源、食品饮料等行业跌幅居前，而与大宗商品涨价及稳增长相关的板块如煤炭、房地产等行业则相对表现较好。本季度，通过对股票和债券长期潜在风险收益的比较，基金组合继续维持较高的股票仓位，把精力聚焦在对公司的深入研究上。我们坚持不断地去寻找优质且低估的公司，从长期视角出发，通过对公司过去发展的长期回溯分析，从商业模式、企业文化等各方面给公司画像，并将其过去经历的客观事实和未来的展望相结合，来判断公司当下所处的周期位置以及未来的成长性，同时始终保持以谨慎的态度进行动态估值。随着市场的下跌，我们发现能在未来带来优异回报的公司在逐步增多，我们会优中选优，保持耐心，等待获取公司业绩成长和价值回归的双重收益。本基金对债券配置采取短久期并严把信用关,保证了组合流动性，同时对组合收益有一定的增厚。","declarationDate":"2022-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:16:24.836Z","fund":{"_id":3000000673110,"stockCode":"673110","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-21T16:00:00.000Z","setUpScale":228552000,"market":"a","tickerId":673110,"custody":"中国银河证券股份有限公司","name":"西部利得新润灵活配置混合型证券投资基金","shortName":"西部利得新润混合(673110)","fundSecondLevel":"hybrid","__csrcFundId":4700,"fundStatus":"normal","lastUpdated":"2026-05-01T08:57:43.331Z","masterFundFlag":1,"inceptionDate":"2017-08-24T16:00:00.000Z","fundCollectionId":4000050620000,"currency":"CNY","masterFundShortName":"西部利得新润混合","pinyin":"xbldxrlhpzhhxzqtzjj","managers":[{"stockCode":"j101019604","stockType":"fund_manager","exchange":"fm","tickerId":719242260,"name":"葛山"}]},"announcement":{"linkText":"西部利得新润灵活配置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=722171","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed6387fea5b3eb0569f5a","date":"2021-12-30T16:00:00.000Z","stockId":3000000673110,"sao":"2021年，疫情反复和经济结构调整是宏观经济的主线。国内经济增长前高后低，基建投资处于低位，地产拖累加深，制造业投资保持高速增长;出口持续强劲，贸易顺差规模再创历史新高；消费恢复缓慢，剔除基数影响的近两年消费平均增速还未恢复到疫情前水平。  2021年，股票市场流动性仍然充裕，资本聚焦于当下景气度高、业绩大幅增长的行业和公司，并且不断强化其股价表现的趋势，使得行业和公司的表现分化显著。  本基金仍然坚持从长期的视角，在遵从价值发现规律和群体行为规律的前提下，进行组合构造。通过对股票和债券长期潜在风险收益的比较，同时结合市场对经济发展的预期以及资金面的情况，基金组合全年维持较高的股票仓位，把精力聚焦在对公司的深入研究上。我们坚持从长期视角出发，通过对公司过去发展的长期回溯分析，从商业模式、企业文化等各方面去给公司画像，并将其过去经历的客观事实和未来的展望相结合，去判断公司当下所处的周期位置以及未来的成长性。我们在关注公司成长性的同时，始终保持以谨慎的态度进行动态估值，不断寻找能给股东带来优异回报的公司。  固定收益部分本基金对债券配置采取短久期并严把信用关,保证了组合流动性，同时对组合收益有一定的增厚。  衷心感谢持有人的支持，我们将继续以诚实信用、勤勉尽责的原则管理基金，努力为持有人带来优异回报。","declarationDate":"2022-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:16:24.833Z","mo":"展望2022年，宏观经济增长压力较大，经济结构中的中长期问题显现，政策以稳为主，基建投资和消费预计成为提振需求的重点方面。疫情对全球经济扰动边际减弱，随着经济活动继续向常态回归，供应链再平衡对全球实体经济的影响和主要经济体货币政策的调整是主线。  股票市场行业间利润增速的分化预计较2021年有所缩小，由此可能带来股票市场行业间估值分化的收敛。从个股角度，景气度横向纵向比都显著占优的公司预计仍会取得较好的超额收益，但挖掘的难度会远大于2021年。相对来说在景气度反转的一些细分行业中深入挖掘中短期景气共振且当前估值合理的标的可能效率更高。另外，由于近两年市场对短期利润增速异常看重，使得一些能保持长期中速成长的公司受到资金的忽视，估值偏低，从而带来一定的配置机会。  2022年，预计货币政策中性偏宽松。货币市场利率中枢稳定。债券市场绝对收益率水平处于低位，曲线整体平坦，在策略上宜关注票息资产机会。","fund":{"_id":3000000673110,"stockCode":"673110","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-21T16:00:00.000Z","setUpScale":228552000,"market":"a","tickerId":673110,"custody":"中国银河证券股份有限公司","name":"西部利得新润灵活配置混合型证券投资基金","shortName":"西部利得新润混合(673110)","fundSecondLevel":"hybrid","__csrcFundId":4700,"fundStatus":"normal","lastUpdated":"2026-05-01T08:57:43.331Z","masterFundFlag":1,"inceptionDate":"2017-08-24T16:00:00.000Z","fundCollectionId":4000050620000,"currency":"CNY","masterFund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    2020年上半年，本基金通过对股票和债券长期潜在风险收益的比较，认为当前股票相对债券的风险收益比更具吸引力，同时结合市场对经济发展的预期以及资金面的情况，认为市场对经济逐步走出突发事件的影响拥有信心，并且股票的赚钱效应开始逐步显现，在资金面整体宽松的情况下，国内及国际资金进一步流入A股市场。所以从资产配置角度看股票有较好的配置价值，上半年基金组合维持较高的股票仓位。    权益部分围绕制造升级与消费升级两条主线进行配置，具体从企业文化、商业模式、产业链地位等方面出发寻找未来具有持续高成长能力且股东回报优异的公司。同时，积极参与新股申购，增厚组合的收益。     固定收益部分本基金对债券配置采取短久期并严把信用关,保证了组合流动性，同时对组合收益有一定的增厚。    衷心感谢持有人的支持，我们将继续以诚实信用、勤勉尽责的原则管理基金，努力为持有人带来优异回报。","date":"2020-06-29T16:00:00.000Z","declarationDate":"2020-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:16:24.816Z","mo":"展望2020年下半年，虽然从宏观上看短期经济发展仍有很多不确定性，面临新冠疫情和国际贸易争端等一些事件的冲击及困难。但从长期看政府坚持改革开放的方向，大力地减税降费，坚定地引领产业升级，所以中国经济的转型升级虽然道路曲折但前途光明。    股票市场从短期看在经历上涨后下半年有整固消化估值的需求，但在资金面整体较为宽松、股票市场赚钱效应逐步显现、债券利率不高、股票市场整体估值仍然合理的情况下，股票市场长期向好的趋势并没有改变。从行业上看，2020年下半年，医药、食品饮料等估值处于历史高位的行业继续提升估值的空间可能有限，需要通过一段时间的利润增长来消化估值。而基本面处于改善的拐点、估值处于较低位置且市场关注度不高的行业可能会取得更好的相对收益。    从债券市场看，伴随经济基本面复苏和货币政策回归正常化，债券市场预计维持震荡。随着货币政策回归正常化，支撑前期快速下行的流动性宽松环境已结束，货币政策着力点在于扶持实体经济，基础货币减少和货币乘数持续上行的组合下无风险利率不具备大幅下行的基础。","fund":{"_id":3000000673110,"stockCode":"673110","stockType":"fund","areaCode":"cn","followedNum":2,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":null,"ipoDate":"2017-05-21T16:00:00.000Z","setUpScale":228552000,"market":"a","tickerId":673110,"custody":"中国银河证券股份有限公司","name":"西部利得新润灵活配置混合型证券投资基金","shortName":"西部利得新润混合(673110)","fundSecondLevel":"hybrid","__csrcFundId":4700,"fundStatus":"normal","lastUpdated":"2026-05-01T08:57:43.331Z","masterFundFlag":1,"inceptionDate":"2017-08-24T16:00:00.000Z","fundCollectionId":4000050620000,"currency":"CNY","masterFundShortName":"西部利得新润混合","pinyin":"xbldxrlhpzhhxzqtzjj","managers":[{"stockCode":"j101019604","stockType":"fund_manager","exchange":"fm","tickerId":719242260,"name":"葛山"}]},"announcement":{"linkText":"西部利得新润灵活配置混合型证券投资基金2020年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=460643","linkType":"PDF","source":"csrc_pdf"}}]}