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力模型及数字经济的政策催化下不断发酵，目前市场仍是存量资金博弈的市场环境下，人工智能主题对于其他类似新能源、消费、医药等核心资产的配置资金产生了较大的虹吸效应。目前市场处于极致的分化状态之下，我们不会去过度追逐市场的节奏，相反，我们认为虹吸效应的产生反而给了我们很多均值回归的机会。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:49.033Z","fund":{"_id":3000000010460,"__csrcFundId":8326,"stockCode":"010460","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10460,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:52.284Z","status":"normal","name":"兴业研究精选混合型证券投资基金","exchange":"jj","shortName":"兴业研究精选混合A","inceptionDate":"2020-11-24T16:00:00.000Z","followedNum":9,"fundCollectionId":4000050810000,"currency":"CNY","masterFundShortName":"兴业研究精选混合","setUpDate":"2020-11-24T16:00:00.000Z","setUpAssetScale":479813969.21,"setUpShares":479813969.21,"pinyin":"xyyjjxhhxzqtzjj","managers":[{"stockCode":"db20774817","stockType":"fund_manager","exchange":"fm","tickerId":2608204600,"name":"邹慧"}]},"announcement":{"linkText":"兴业研究精选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=882877","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecda57fea5b3eb04dd7b3","date":"2022-12-30T16:00:00.000Z","stockId":3000000010460,"sao":"2022年由于疫情传播、俄乌冲突等黑天鹅事件的冲击，叠加美联储超预期加息，整体市场大幅下跌，本产品持仓以制造业为主，受供应链冲击以及下游需求偏弱影响，产品组合净值出现较大回撤。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:49.031Z","mo":"展望2023年，我们看到各类稳增长措施的支持下，国内经济出现逐渐企稳的迹象，同时海外美联储加息逐渐接近尾声，分子分母端的组合对权益市场而言是偏友好的，我们认为今年市场的机会将远大于风险。我们将坚持逆向选股的投资思路，继续自下而上的寻找优质公司。","fund":{"_id":3000000010460,"__csrcFundId":8326,"stockCode":"010460","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10460,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:52.284Z","status":"normal","name":"兴业研究精选混合型证券投资基金","exchange":"jj","shortName":"兴业研究精选混合A","inceptionDate":"2020-11-24T16:00:00.000Z","followedNum":9,"fundCollectionId":4000050810000,"currency":"CNY","masterFundShortName":"兴业研究精选混合","setUpDate":"2020-11-24T16:00:00.000Z","setUpAssetScale":479813969.21,"setUpShares":479813969.21,"pinyin":"xyyjjxhhxzqtzjj","managers":[{"stockCode":"db20774817","stockType":"fund_manager","exchange":"fm","tickerId":2608204600,"name":"邹慧"}]},"announcement":{"linkText":"兴业研究精选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=870871","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecda57fea5b3eb04dd7b2","date":"2022-09-29T16:00:00.000Z","stockId":3000000010460,"sao":"由于国内疫情的反复以及地产销售的不及预期，国内经济的恢复呈现一定的波折，同时海外通胀一路上行，美联储不断加息，十年期美债收益率大幅上行一度接近4%，对全球的流动性形成冲击，风险偏好再度降低，市场各类指数均出现下跌，金融地产等防御板块表现出一定的抗跌性，而新能源、半导体、军工等进攻性板块下跌较多，本产品报告期内配置开始逐渐均衡，净值回撤好于市场。展望四季度，我们在当前位置开始逐渐乐观，各种“稳增长”措施陆续出台，物流和产业链供应链的优势正在有序有力的恢复，房地产、平台经济、规范和引导资本健康发展等方面的积极信号均有利于稳定各方面预期，经济总量正在逐渐恢复过程中，展望未来，我们认为国内经济的比较优势将会愈发明显，A股将会成为全球配置角度中具备良好回报潜力的市场。本产品的配置将以制造业为核心，适度均衡，择机增持部分消费品公司及出行链板块。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:49.028Z","fund":{"_id":3000000010460,"__csrcFundId":8326,"stockCode":"010460","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10460,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:52.284Z","status":"normal","name":"兴业研究精选混合型证券投资基金","exchange":"jj","shortName":"兴业研究精选混合A","inceptionDate":"2020-11-24T16:00:00.000Z","followedNum":9,"fundCollectionId":4000050810000,"currency":"CNY","masterFundShortName":"兴业研究精选混合","setUpDate":"2020-11-24T16:00:00.000Z","setUpAssetScale":479813969.21,"setUpShares":479813969.21,"pinyin":"xyyjjxhhxzqtzjj","managers":[{"stockCode":"db20774817","stockType":"fund_manager","exchange":"fm","tickerId":2608204600,"name":"邹慧"}]},"announcement":{"linkText":"兴业研究精选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=808433","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecda57fea5b3eb04dd7b1","date":"2022-06-29T16:00:00.000Z","stockId":3000000010460,"sao":"2022年上半年可能在国内的资本市场历史上都是极为不平凡的一个阶段，市场情绪从极度悲观转向极度乐观的扭转之快大超预期：1-4月份国内地产销售大幅下行，局部地区疫情反复冲击供应链，美联储加息所带来的美债收益率超预期上行，俄乌冲突加剧通胀预期，同时中概股退市风波亦对风险偏好产生收敛，所有不利因素叠加后产生了巨大的负向反馈；而5月份之后在稳增长措施的逐渐出台，流动性宽松又带来估值的迅速修复。我们必须承认，目前的市场是一个开放、高效而又叠加杠杆的证券市场，我们要做的只能适应市场的迅速变化。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:49.025Z","mo":"展望下半年，一方面美联储基于通胀因素考量继续鹰派概率偏高，同时国内可能会渐渐感受通胀起来的压力，届时将对货币政策有所掣肘，同时前期赛道股公司的估值水平达到比较高的水位，疫情防疫政策的逐渐宽松使得市场对于消费场景的修复预期开始展望，同时经济基本面也逐渐开始修复，确实没有必要对市场悲观，但基于流动性的考量，同时接下来上市公司均要经历中报业绩的考验，尽管市场有所预期，但业绩的灰犀牛可能还是会存在，我们判断下半年市场将以震荡上行为主。结构上，我们判断，国内疫情防疫的良好控制，线下消费场景的逐渐修复和出行旺季的逐渐来临，部分前期疫情受损的公司将会迎来估值修复。本产品将坚持自下而上的策略寻找具备竞争壁垒的公司不断进行结构优化。","fund":{"_id":3000000010460,"__csrcFundId":8326,"stockCode":"010460","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10460,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:52.284Z","status":"normal","name":"兴业研究精选混合型证券投资基金","exchange":"jj","shortName":"兴业研究精选混合A","inceptionDate":"2020-11-24T16:00:00.000Z","followedNum":9,"fundCollectionId":4000050810000,"currency":"CNY","masterFundShortName":"兴业研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自年初以来，由于核心资产估值偏高，赛道偏拥挤，本基金沿着景气赛道做市值下沉，同时，基于对于市场低估了疫情对中低端收入群体的冲击的认识，以及国内制造业强大的核心竞争优势，本基金将更多精力聚焦于制造业，净值出现较大的回报。本基金为偏股混合型基金，目前仓位配置主要集中于机械、化工、医药、新能源车、科技等领域。","declarationDate":"2021-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:49.015Z","mo":"近期市场有所波动，市场呈现较高的“围城”效应，市场情绪波动较大。近期市场下跌的导火索是政府从效率优先转向兼顾公平，降低教育、医疗、住房等刚性支出，削弱互联网龙头的垄断地位，过去几年备受青睐的大消费和互联网成为下跌的主要领域，结果市场资金的羊群效应走向极致，增量资金建仓和存量资金调仓均集中于成长制造，极端分化下强势板块的流动性虹吸效应明显，背后的根本原因在于人口老龄化之后消费行业ROE趋于下降而压低估值，而具备竞争比较优势的制造业则可以通过开拓国际市场维持ROE水平的持平甚至上升。结合政治局会议对于经济形势的定调，宽货币仍是下半年的政策主基调，近期把政府调控的行为过度放大至市场让位于政府、民企让位于国企的担忧显然是过虑的，展望2021年下半年我们对市场依然维持乐观的态度，短期的调整为中长期资金提供较好的入场良机。行业配置上，我们认为市场的极致分化可能出现收敛，本基金将适度向消费领域进行均衡，同时，坚持“市值下沉”的道路，积极在国产替代和制造业领域寻找自下而上的阿尔法机会。","fund":{"_id":3000000010460,"__csrcFundId":8326,"stockCode":"010460","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10460,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:52.284Z","status":"normal","name":"兴业研究精选混合型证券投资基金","exchange":"jj","shortName":"兴业研究精选混合A","inceptionDate":"2020-11-24T16:00:00.000Z","followedNum":9,"fundCollectionId":4000050810000,"currency":"CNY","masterFundShortName":"兴业研究精选混合","setUpDate":"2020-11-24T16:00:00.000Z","setUpAssetScale":479813969.21,"setUpShares":479813969.21,"pinyin":"xyyjjxhhxzqtzjj","managers":[{"stockCode":"db20774817","stockType":"fund_manager","exchange":"fm","tickerId":2608204600,"name":"邹慧"}]},"announcement":{"linkText":"兴业研究精选混合型证券投资基金2021年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=634973","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecda57fea5b3eb04dd7ac","stockId":3000000010460,"sao":"2020年一季度，上证综指呈现先上后下的震荡走势。本基金基本完成建仓，行业配置相对均衡，净值出现小幅下跌。本基金为偏股混合型基金，仓位配置主要集中于机械、化工、医药、食品、新能源汽车等领域。展望二季度，市场投资难度将加大，核心资产将经受业绩的考验而出现分化，本基金投资领域将会做适度的市值下沉，积极在国产替代和制造业领域寻找自下而上的阿尔法机会。","date":"2021-03-30T16:00:00.000Z","declarationDate":"2021-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:49.012Z","fund":{"_id":3000000010460,"__csrcFundId":8326,"stockCode":"010460","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10460,"masterFundFlag":1,"lastUpdated":"2024-12-31T23:39:52.284Z","status":"normal","name":"兴业研究精选混合型证券投资基金","exchange":"jj","shortName":"兴业研究精选混合A","inceptionDate":"2020-11-24T16:00:00.000Z","followedNum":9,"fundCollectionId":4000050810000,"currency":"CNY","masterFundShortName":"兴业研究精选混合","setUpDate":"2020-11-24T16:00:00.000Z","setUpAssetScale":479813969.21,"setUpShares":479813969.21,"pinyin":"xyyjjxhhxzqtzjj","managers":[{"stockCode":"db20774817","stockType":"fund_manager","exchange":"fm","tickerId":2608204600,"name":"邹慧"}]},"announcement":{"linkText":"兴业研究精选混合型证券投资基金2021年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=574690","linkType":"PDF","source":"csrc_pdf"}}]}