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济转型背景下资产荒继续对债券市场形成支撑，因此下半年债券市场机会仍然大于风险。股票市场方面，鉴于经济动能偏弱、增速向上弹性不足，企业盈利也因此受限，在经济没有真正企稳或政策力度有限的情况下，股票市场无明显投资机会。","fund":{"_id":3000000015908,"__csrcFundId":11409,"stockCode":"015908","shortName":"方正富邦鸿远债券(015908)","masterFundShortName":"方正富邦鸿远债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15908,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:49:03.507Z","status":"normal","exchange":"jj","name":"方正富邦鸿远债券型证券投资基金","inceptionDate":"2022-07-27T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":2,"setUpDate":"2022-07-27T16:00:00.000Z","setUpAssetScale":184982651.61,"setUpShares":184982651.61,"pinyin":"fzfbhyzqxzqtzjj","managers":[{"stockCode":"db20885352","stockType":"fund_manager","exchange":"fm","tickerId":142319224160,"name":"牛伟松"},{"stockCode":"db20759919","stockType":"fund_manager","exchange":"fm","tickerId":170403217870,"name":"区德成"},{"stockCode":"j101019881","stockType":"fund_manager","exchange":"fm","tickerId":122625243110,"name":"吕拙愚"}]},"announcement":{"linkText":"方正富邦鸿远债券型证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1147976","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed18b7fea5b3eb051f38f","date":"2024-03-30T16:00:00.000Z","stockId":3000000015908,"sao":"回顾一季度，国内经济出现了一定企稳迹象，部分数据较2023年四季度有所回升。1-3月制造业PMI指数震荡回升，3月数据时隔五个月重回50以上，需求、生产等分项指标也都明显改善。1-2月出口增速回升至7.1%，为2023年5月以来最高值，同样明显好于预期。投资方面，地产投资增速继续下跌，但制造业投资和基建投资增速处于高位，带动总体固定资产投资增速回升至4.2%，同样创2023年5月以来最高值。通胀方面，2月CPI回升至0.7%，时隔四个月再次转正。一季度经济确实呈现出一定复苏企稳迹象，但总需求不足的问题依然存在，尤其是地产下滑对经济的拖累依然较大，数据改善的持续性仍有待观察。　　债券市场方面，1-2月为经济数据的真空期，同时市场供给较少，叠加股票市场出现明显下跌、市场风险偏好明显回落，带动收益率持续下行，尤其超长端收益率出现显著回落，十年期国债收益率一度突破2.3%。随着收益率进入历史低位，市场波动开始加大。尤其进入3月以后，新公布的经济数据出现回升，市场对经济的悲观预期也有所修正，叠加两会提出将在未来每年新增1万亿特别国债，引发市场对超长债券供给担忧，市场收益率结束持续下行趋势，转为震荡。　　股票市场在一季度先跌后涨，市场情绪也经历了明显反转。1月至春节前，市场对经济及政策预期悲观，指数不断下跌，并引发负反馈。但随着稳定市场政策不断推出，股票市场开始企稳反弹。3月经济数据有所企稳也对市场形成提振，上证指数稳定在3000点以上。　　报告期内，本产品债券投资以利率债为主，并随着经济复苏预期反复和流动性的波动，适度参与了中长久期利率债的波段交易。股票投资方面，为了有效控制波动，本产品逐步降低了股票投资比例。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:56:27.292Z","fund":{"_id":3000000015908,"__csrcFundId":11409,"stockCode":"015908","shortName":"方正富邦鸿远债券(015908)","masterFundShortName":"方正富邦鸿远债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15908,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:49:03.507Z","status":"normal","exchange":"jj","name":"方正富邦鸿远债券型证券投资基金","inceptionDate":"2022-07-27T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":2,"setUpDate":"2022-07-27T16:00:00.000Z","setUpAssetScale":184982651.61,"setUpShares":184982651.61,"pinyin":"fzfbhyzqxzqtzjj","managers":[{"stockCode":"db20885352","stockType":"fund_manager","exchange":"fm","tickerId":142319224160,"name":"牛伟松"},{"stockCode":"db20759919","stockType":"fund_manager","exchange":"fm","tickerId":170403217870,"name":"区德成"},{"stockCode":"j101019881","stockType":"fund_manager","exchange":"fm","tickerId":122625243110,"name":"吕拙愚"}]},"announcement":{"linkText":"方正富邦鸿远债券型证券投资基金2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1076781","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed18b7fea5b3eb051f38e","date":"2023-12-30T16:00:00.000Z","stockId":3000000015908,"sao":"2023年是三年新冠疫情防控转段后经济恢复发展的一年，全年GDP增速5.2%，实现了年初两会制定的增速目标。但2023年经济复苏也出现了多次反复，经济内生增长动能依然不足。一季度经济迎来疫情后的修复期，无论是宏观经济运行还是微观居民生活都逐步回归正常轨道，宏观经济数据逐步改善，消费、固定资产以及工业增加值增速都出现明显回升。稳增长政策不断发力，央行通过降准等方式释放流动性支持实体经济恢复。但进入二季度国内经济再次走弱，经济复苏明显乏力：一方面疫情对企业及居民的负面影响较大，消费及投资的可持续较差；另一方面二季度企业主动去库存，进一步拖累需求和生产；此外房地产投资跌幅加深，下行趋势依然没有缓解；最后，宏观政策定力较强，并未出台较大的经济刺激政策。虽然在基数作用下二季度部分经济数据同比增速出现回升，但剔除基数因素后经济走势弱于预期。三季度经济仍然呈现底部震荡走势，但已止住下滑趋势，且稳增长政策持续推出一定程度上提升了市场对于未来经济回升的预期。四季度国内经济稳步复苏，部分经济数据在基数效应下同比增速有所回升，但经济内生的增长动能依然不足：四季度PMI连续三个月回落，且持续处于荣枯线下方；房地产投资下行趋势仍然没有缓解，地产先行指标中销售、新开工面积继续大幅负增长。　　通胀方面，2023年国内价格指数普遍回落，全年CPI同比增速0.2%、PPI同比增速-3.0%，均较上年出现明显回落，同时GDP平减指数自二季度起连续三个季度同比负增长。价格低迷反映出国内经济复苏过程中主要面临的有效需求不足的问题。　　政策方面，为了支持疫后复苏，年初央行通过降准等方式释放流动性支持实体经济发展。二季度随着经济再次转弱，稳增长政策进一步发力，央行通过降准、降息等方式促进信用扩张，并推动加快地方政府债券发行、优化住房信贷及限购政策、加大个税抵扣力度等多种方式稳定经济增长，四季度进一步推出包括新增一万亿国债、下调存款利率等托底经济的政策，年底召开的中央政治局会议、中央经济工作会议同样提出要继续坚持稳中求进的政策基调。　　宏观经济走势以及对宏观经济的预期依然是主导全年资产价格走势的主要因素。债券市场方面，全年债券市场总体走牛，收益率明显回落。年初经济快速修复、市场对经济增长预期乐观导致债券市场收益率震荡上行，但随后经济增长动能趋弱，货币政策转向宽松，收益率自2月下旬开始显著回落，并一直持续到8月下旬。9月开始稳增长政策持续加码，尤其政府债券发行加快、发行规模较大，导致市场资金面边际收紧，对债市形成压制，市场收益率在三季度小幅回升后转入震荡阶段。12月中央政治局会议及中央经济工作会议对下一步宏观政策作出部署，继续强调高质量发展为首要任务，预示不会对经济进行大幅刺激，叠加年底财政资金投放、资金面再次转松，债券市场明显走强，收益率再次出现明显回落。截至2023年12月31日，10年期国债估值收益率较2022年底下行28个基点至2.56%。股票市场在2023年依然震荡偏弱。国内经济复苏偏弱，经济面临的人口老龄化等中长期问题仍难以有效解决，叠加海外美联储进一步加息、美债收益率持续处于高位，都对国内股票市场形成制约，市场表现低迷。　　投资操作方面，报告期内本组合运作严控信用风险，债券投资以中短久期利率债为主，随着收益率在四季度回升，增配了部分3-5年期利率债，适当提升了组合久期。股票方面，在保持低仓位的同时，对持仓结构做了部分优化和调整。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:56:27.289Z","mo":"展望2024年，中国经济有望延续稳步复苏的趋势，但面对复杂的国内外形势，也依然需要政策进一步发力。首先国内经济内生增长动能依然不足，老龄化加剧、地产下行趋势仍未缓解、地方政府债务化解等，都继续制约我国经济潜在增速。其次，CPI、PPI等价格指数负增长也会对名义经济增速形成拖累，并导致实际利率偏高，对消费和投资需求形成抑制。海外方面，虽然美联储大概率将结束加息，但降息时点仍存在较大不确定性，美债利率若长期处于高位也会对国内资本市场形成制约。不过当前稳增长政策仍在持续发力，预计随着两会召开，更多的稳增长政策将会推出，助力全年经济稳中向好。　　市场方面，2024年上半年经济基本面或将继续处于弱复苏格局，叠加央行引导利率下行、资金面维持稳健偏宽松，因此债券市场仍然具备走强基础。随着稳增长政策效果逐步显现，下半年债券市场或面临一定的调整压力。股票市场方面，在经历2023年的调整之后市场估值进入低位，从长期看已经具备一定投资价值，若未来稳增长效果逐步显现、经济进一步企稳回升，股票市场有望迎来较好的投资机会。　　2024年本基金将在控制好信用风险和流动性风险的前提下，继续以利率债为底仓，维持适度的久期和杠杆水平，积极把握波段交易机会，同时以宏观经济走势和预判为基础，结合股债比价走势，动态调整权益资产和债券类资产持仓比例，力争获取较好的收益。","fund":{"_id":3000000015908,"__csrcFundId":11409,"stockCode":"015908","shortName":"方正富邦鸿远债券(015908)","masterFundShortName":"方正富邦鸿远债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15908,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:49:03.507Z","status":"normal","exchange":"jj","name":"方正富邦鸿远债券型证券投资基金","inceptionDate":"2022-07-27T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":2,"setUpDate":"2022-07-27T16:00:00.000Z","setUpAssetScale":184982651.61,"setUpShares":184982651.61,"pinyin":"fzfbhyzqxzqtzjj","managers":[{"stockCode":"db20885352","stockType":"fund_manager","exchange":"fm","tickerId":142319224160,"name":"牛伟松"},{"stockCode":"db20759919","stockType":"fund_manager","exchange":"fm","tickerId":170403217870,"name":"区德成"},{"stockCode":"j101019881","stockType":"fund_manager","exchange":"fm","tickerId":122625243110,"name":"吕拙愚"}]},"announcement":{"linkText":"方正富邦鸿远债券型证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1060522","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed18b7fea5b3eb051f38d","date":"2023-09-29T16:00:00.000Z","stockId":3000000015908,"sao":"2023年三季度，我国经济在稳增长政策推动下逐步止跌企稳，9月制造业PMI时隔五个月再次回升至50以上扩张区间，但地产行业的拖累依然存在，因此经济总体呈现底部震荡走势。投资方面，基建和制造业投资保持稳定，但地产投资增速继续回落，对固定资产投资的拖累并未缓解，虽然三季度稳地产政策密集出台，但政策效果尚未显现。消费增速在三季度筑底企稳，出口跌幅也有所收窄，工业生产受益于当前企业库存偏低，表现好于预期。政策方面，央行积极通过降准、降息等方式推动信用扩张，但实体经济融资需求疲弱，宽信用效果不佳。此外，政策还推动加快地方政府债券发行、优化住房信贷及限购政策、加大个税抵扣力度，多方位稳定经济增长。综合来看，虽然三季度经济仍然呈现底部震荡走势，但已经止住下滑趋势，且稳增长政策持续推出一定程度上提升了市场对于未来经济回升的预期。　　债券市场方面，经济走势止跌企稳、稳增长政策持续加码，经济基本面对债市偏不利，虽然央行通过降准、降息等方式释放流动性，但政府债券发行加快、发行规模较大，导致市场资金面边际收紧，也对债市形成压制。因此三季度债券市场走势总体偏弱。截至9月底，10年期国债收益率小幅回升至2.68%附近。股票市场在三季度先涨后跌，对稳增长政策的预期推动股市在7月下旬有所上涨，但地产投资持续下滑导致经济向上回升空间有限、弹性不足，叠加海外美国国债收益率大幅上行、人民币贬值压力加大，导致股市8月再次震荡回落。　　报告期内，本组合运作严控信用风险，主要投资于政府债券及政策性银行债券，报告期内根据市场及收益率变化情况动态调整组合久期，7月至8月组合总体保持短久期策略，进入9月后随着市场调整适当提升了组合久期，杠杆处于偏低水平。股票投资坚持自下而上的思路，力求在努力控制回撤的基础上寻找更好的投资机会。　　展望四季度，在稳增长政策的不断助力下，经济或将延续筑底企稳趋势，债券市场受此影响可能继续震荡偏弱。股票市场方面，经济筑底企稳、稳增长政策积极推出，叠加近期市场持续下跌、估值处于历史偏低位置，因此预计四季度股市将会出现一定的投资机会。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:56:27.286Z","fund":{"_id":3000000015908,"__csrcFundId":11409,"stockCode":"015908","shortName":"方正富邦鸿远债券(015908)","masterFundShortName":"方正富邦鸿远债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15908,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:49:03.507Z","status":"normal","exchange":"jj","name":"方正富邦鸿远债券型证券投资基金","inceptionDate":"2022-07-27T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":2,"setUpDate":"2022-07-27T16:00:00.000Z","setUpAssetScale":184982651.61,"setUpShares":184982651.61,"pinyin":"fzfbhyzqxzqtzjj","managers":[{"stockCode":"db20885352","stockType":"fund_manager","exchange":"fm","tickerId":142319224160,"name":"牛伟松"},{"stockCode":"db20759919","stockType":"fund_manager","exchange":"fm","tickerId":170403217870,"name":"区德成"},{"stockCode":"j101019881","stockType":"fund_manager","exchange":"fm","tickerId":122625243110,"name":"吕拙愚"}]},"announcement":{"linkText":"方正富邦鸿远债券型证券投资基金2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=991341","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed18b7fea5b3eb051f38c","date":"2023-06-29T16:00:00.000Z","stockId":3000000015908,"sao":"权益方面：　　2023年上半年，A股市场整体呈现横盘震荡快速轮动的态势，年初投资者对经济大幅复苏报以很高的期待，部分经济指标也确实显现了限制取消后积压需求集中释放的特征，但二月中旬开始，多项前置经济指标转为趋冷，经济又重回乏力状态。预期越高失望越大，消费周期品等顺周期板块回调剧烈。同时，剩余流动性仍然充裕，经济冷而资金足，这种组合形成了最适合主题投资的环境，中特估和AI+成为最有超额收益的两条主线。二季度，伴随着市场对AI技术进展信息的钝化和相关标的股价的巨大涨幅，AI主题快速回落。二季度末，宏观经济逐渐触底的信号越发清晰，去库存周期逐渐进入尾声，各项稳经济政策亦频频出台，市场重新对经济复苏报以期待，商品价格开始反弹，顺周期板块亦出现明显反弹，市场重回均衡状态。　　本基金权益部分在2023年上半年继续秉承去年以来的投资风格，逆向、价值、不与众同，力争打好防守反击。权益仓位在年中附近从较低位提高到中偏高仓位。在具体投资方向和个股标的上，本基金权益部分也不局限于某个单一赛道或者行业，仍然是坚持自己的标准自下而上选股。从更长的时间维度，本基金权益部分在各种风云变幻的外部环境下（从去年的宏观经济困境，到今年的经济复苏，继而复苏不达预期，市场追捧主题等等），本基金权益部分一直保持现有的投资风格，虽然在战术上有微调，在标的上有更换，但风格和理念一以贯之，坚持做到了风格不漂移。归因分析来看，上半年本基金权益部分的超额收益主要来自于个股选择，甚至在一些上半年排名靠后的行业依然能够挖掘个股超额收益。损失主要来自于管理人在权益方面突破能力圈的尝试。一城一地的得失并不重要，关键是能否从过往中总结经验教训，并借鉴在我们未来的投资中。　　　　固收方面：　　回顾上半年， 央行决定于3月27日降低金融机构存款准备金率0.25个百分点。6月13日央行下调公开市场操作（OMO）七天期逆回购利率10个基点。6月15日，央行开展2370亿元中期借贷便利（MLF）操作，利率为2.65%，此前为2.75%。　　在货币政策维持流动性合理充裕的大环境下，银行间债券收益率稳步下行。虽然个券收益率在个别时点受到资金价格影响略有抬升，但是整体下行趋势没有改变。　　操作方面，报告期内基金组合仓位稳定，持仓以利率债为主。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:56:27.283Z","mo":"权益方面：　　展望未来，新周期即将开启。这里的新周期一方面指国内经济周期即将走完去库存阶段，开启新一轮补库存周期，海外库存周期滞后国内大概一年时间，预计在明年年中也将开始补库存阶段，进而在明年接力补库存过程。资本市场是宏观经济的晴雨表，当PPI触底反弹之际，相信资本市场也会有不错的表现。力争把握好周期规律，做好当下投资，是本基金管理人始终如一的目标之一。另一方面，过去二十年的经济发展，很大因素上是受益于移动互联网红利，时至今日，该红利已经走到创新尾声，主要国家流量见顶的信号愈发明确，展望未来，以AI+和虚拟现实为代表的技术革命可能会开启新一轮技术创新浪潮，以新能源（包括可能会成功的室温常压超导）为代表的能源革命可能会带来新的产业升级，虽然技术进程上仍有波折，但新科技创新的潮头已经若隐若现，本基金管理人将密切跟踪各项科技进展，力争把握住产业发展趋势，并辅以稳健的投资风格，争取为投资者创造稳健持久的投资收益。　　　　固收方面：　　展望下半年，虽然中国经济依旧受房地产行业和居民消费意愿下降等因素影响，但是在央行继续精准有力的稳健货币政策下，市场预期保持稳定和持续改善中，我们相信中国实体经济将运行在合理区间。　　在流动性合理充裕预期不变的前提下，我们维持对收益率保持低位震荡的判断。","fund":{"_id":3000000015908,"__csrcFundId":11409,"stockCode":"015908","shortName":"方正富邦鸿远债券(015908)","masterFundShortName":"方正富邦鸿远债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15908,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:49:03.507Z","status":"normal","exchange":"jj","name":"方正富邦鸿远债券型证券投资基金","inceptionDate":"2022-07-27T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":2,"setUpDate":"2022-07-27T16:00:00.000Z","setUpAssetScale":184982651.61,"setUpShares":184982651.61,"pinyin":"fzfbhyzqxzqtzjj","managers":[{"stockCode":"db20885352","stockType":"fund_manager","exchange":"fm","tickerId":142319224160,"name":"牛伟松"},{"stockCode":"db20759919","stockType":"fund_manager","exchange":"fm","tickerId":170403217870,"name":"区德成"},{"stockCode":"j101019881","stockType":"fund_manager","exchange":"fm","tickerId":122625243110,"name":"吕拙愚"}]},"announcement":{"linkText":"方正富邦鸿远债券型证券投资基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=966714","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed18b7fea5b3eb051f38b","date":"2023-03-30T16:00:00.000Z","stockId":3000000015908,"sao":"回顾2023年一季度，央行决定于3月27日降低金融机构存款准备金率0.25个百分点，本次降准将向银行体系释放长期资金约5000亿元。同时央行表示，继续实施好稳健货币政策，保持流动性合理充裕，不搞大水漫溉，兼顾内外平衡，着力推动经济高质量发展。　　一季度海外金融环境风云变幻，先有硅谷银行遭遇流动性风波引发挤兑风险，最终倒闭；后有瑞银集团收购瑞士信贷方案中对于170亿美元的额外一级资本债（AT1）进行全额减记，引发全球对于银行业的担忧。国内在开年之初信贷冲量的“开门红”诉求下，银行需求增加导致资金融出减少，非银机构逐步对流动性感到紧张。尤其是春季后随着央行跨节流动性资金逐步到期，非银机构隔夜价格迅速上行，跨2月底隔夜价格在10-15%之间成交活跃。现券短端利率随资金价格逐步走高，长端则展现出一定的韧性，调整幅度有限。收益率曲线在进入3月后开始回落，并在降准公布后继续下行。国家统计局发布的3月份我国制造业采购经理指数（PMI）为51.9%，虽然有所回落，但经济景气水平仍为近两年次高点。　　操作方面，报告期内基金组合维持债券仓位比例基本不变。","declarationDate":"2023-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:56:27.281Z","fund":{"_id":3000000015908,"__csrcFundId":11409,"stockCode":"015908","shortName":"方正富邦鸿远债券(015908)","masterFundShortName":"方正富邦鸿远债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15908,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:49:03.507Z","status":"normal","exchange":"jj","name":"方正富邦鸿远债券型证券投资基金","inceptionDate":"2022-07-27T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":2,"setUpDate":"2022-07-27T16:00:00.000Z","setUpAssetScale":184982651.61,"setUpShares":184982651.61,"pinyin":"fzfbhyzqxzqtzjj","managers":[{"stockCode":"db20885352","stockType":"fund_manager","exchange":"fm","tickerId":142319224160,"name":"牛伟松"},{"stockCode":"db20759919","stockType":"fund_manager","exchange":"fm","tickerId":170403217870,"name":"区德成"},{"stockCode":"j101019881","stockType":"fund_manager","exchange":"fm","tickerId":122625243110,"name":"吕拙愚"}]},"announcement":{"linkText":"方正富邦鸿远债券型证券投资基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=887242","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed18b7fea5b3eb051f38a","date":"2022-12-30T16:00:00.000Z","stockId":3000000015908,"sao":"回顾2022年，受疫情反复冲击，国际形势不稳的因素，我国经济面临较大下行压力。人民银行通过两次降准，为实体经济提供超一万亿元长期流动性的同时，运用再贷款再贴现、中期借贷便利、公开市场操作等多种方式投放流动性，为稳定宏观经济大盘提供了适宜的流动性环境。然而，居民在未来收入充满不确定情况下呈现出低迷的消费欲望，房地产这个曾经的支柱产业也尚未摆脱回归本源的轨道，出口贸易受制于海外经济复苏不达预期，仅仅通过基建投资未能把中国经济带出泥潭。债券市场在市场流动性极度充裕的环境中，收益率不断下行，在11月中达到近几年的低点，随后出现强劲反弹，资管产品赎回带来进一步负反馈，随着央行出手稳定市场，债市在年底前逐步企稳。　　本基金作为二级债券型基金产品，报告期内，本基金基于对债券市场长期趋势的判断，精选个券进行投资。权益部分采取了较为稳健的投资策略，先以不高的权益仓位进行投资，待积累一定的安全垫后，再择机提高权益仓位。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:56:27.278Z","mo":"展望后市，随着疫情管控的彻底放开，国内经济和人民生活终将逐步回归正常，相对过去三年，经济发展肯定是有比较好的预期，我们判断中长端利率承压较为明显，短端资产价格主要受央行流动性管理影响，区间波动幅度会有所增加。","fund":{"_id":3000000015908,"__csrcFundId":11409,"stockCode":"015908","shortName":"方正富邦鸿远债券(015908)","masterFundShortName":"方正富邦鸿远债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15908,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:49:03.507Z","status":"normal","exchange":"jj","name":"方正富邦鸿远债券型证券投资基金","inceptionDate":"2022-07-27T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":2,"setUpDate":"2022-07-27T16:00:00.000Z","setUpAssetScale":184982651.61,"setUpShares":184982651.61,"pinyin":"fzfbhyzqxzqtzjj","managers":[{"stockCode":"db20885352","stockType":"fund_manager","exchange":"fm","tickerId":142319224160,"name":"牛伟松"},{"stockCode":"db20759919","stockType":"fund_manager","exchange":"fm","tickerId":170403217870,"name":"区德成"},{"stockCode":"j101019881","stockType":"fund_manager","exchange":"fm","tickerId":122625243110,"name":"吕拙愚"}]},"announcement":{"linkText":"方正富邦鸿远债券型证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=871462","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed18b7fea5b3eb051f389","date":"2022-09-29T16:00:00.000Z","stockId":3000000015908,"sao":"回顾2022年三季度，8月15日央行开展4000亿元中期借贷便利（MLF）和20亿元7天逆回购公开市场操作，中标利率分别为2.75%和2.00%，均下降10个基点。受此影响，各期限收益率下行约10bp，随后在预期兑现，短期利好出尽的市场交易情绪中，收益逐步上行，至季末基本回到降低公开市场操作利率前的水平。  中国9月官方制造业PMI为50.1，好于预期。央行货币政策委员会第三季度例会指出，当前全球经济增长放缓、通胀高位运行，地缘政治冲突持续，外部环境更趋复杂严峻，国内经济总体延续恢复发展态势，但仍面临需求收缩、供给冲击、预期转弱三重压力。在保持流动性合理充裕、进一步巩固经济恢复基础的政策总基调下，我们认为四季度资金面依然维持均衡，短端收益率存在进一步下行空间。  操作方面，报告期内基金组合依然处于建仓期。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:56:27.275Z","fund":{"_id":3000000015908,"__csrcFundId":11409,"stockCode":"015908","shortName":"方正富邦鸿远债券(015908)","masterFundShortName":"方正富邦鸿远债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15908,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:49:03.507Z","status":"normal","exchange":"jj","name":"方正富邦鸿远债券型证券投资基金","inceptionDate":"2022-07-27T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":2,"setUpDate":"2022-07-27T16:00:00.000Z","setUpAssetScale":184982651.61,"setUpShares":184982651.61,"pinyin":"fzfbhyzqxzqtzjj","managers":[{"stockCode":"db20885352","stockType":"fund_manager","exchange":"fm","tickerId":142319224160,"name":"牛伟松"},{"stockCode":"db20759919","stockType":"fund_manager","exchange":"fm","tickerId":170403217870,"name":"区德成"},{"stockCode":"j101019881","stockType":"fund_manager","exchange":"fm","tickerId":122625243110,"name":"吕拙愚"}]},"announcement":{"linkText":"方正富邦鸿远债券型证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=806955","linkType":"PDF","source":"csrc_pdf"}}]}