window.pageData = {"stock":{"_id":3000000016657,"fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","stockCode":"016657","tickerId":16657,"shortName":"汇丰晋信丰宁三个月定开债券C","currency":"CNY","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","status":"normal","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":15663.18,"setUpShares":15663.18,"masterFundFlag":null,"activeFundFlag":null,"classificationFlag":null,"closedEnd":null,"etfFundFlag":null,"feederFundFlag":null,"indexFundFlag":null,"lofFundFlag":null,"pensionTargetFlag":null,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","fundCollection":{"exchange":"jjgs","stockType":"fund_collection","stockCode":"50520000","tickerId":50520000,"name":"汇丰晋信基金管理有限公司"},"managers":[{"name":"刘洋","stockType":"fund_manager","stockCode":"j101019663","exchange":"fm","tickerId":1225246560},{"name":"傅煜清","stockType":"fund_manager","stockCode":"db20774967","exchange":"fm","tickerId":62517210050}],"hotMetrics":{"fss":{"stockId":3000000016657,"type":"fss","f_s_s_d":"2024-06-29T16:00:00.000Z","f_ins_h_s_r":0,"f_ind_h_s_r":1,"f_h_a":70,"f_h_s_a":198,"f_ind_h_s_r_c_hy":0,"f_ins_h_s_r_c_hy":0,"f_ind_h_s_r_c_1y":0,"f_ins_h_s_r_c_1y":0,"last_data_date":"2025-06-29T16:00:00.000Z"},"fpr":{"stockId":3000000016657,"type":"fpr","f_p_r_fys_ssc":7429,"f_p_r_fys_ssrp":0.7858104469574583,"f_p_r_m1_ssc":7666,"f_p_r_m1_ssrp":0.6761904761904762,"f_p_r_m3_ssc":7558,"f_p_r_m3_ssrp":0.46050019849146484,"f_p_r_m6_ssc":7431,"f_p_r_m6_ssrp":0.5427994616419919,"f_p_r_y1_ssc":6977,"f_p_r_y1_ssrp":0.9654529816513762,"f_p_r_y2_ssc":6066,"f_p_r_y2_ssrp":0.9952184666117065,"f_cagr_p_r_fs_ssc":7386,"f_cagr_p_r_fs_ssrp":0.9037237643872715,"f_p_r_y3_ssc":4997,"f_p_r_y3_ssrp":0.978382706164932},"fp":{"stockId":3000000016657,"type":"fp","f_p_r_fys":0.009250969859743163,"f_p_r_m1":0.0010853478046370935,"f_cagr_p_r_fs":0.012500437503271122,"f_p_r_m3":0.006248140434394367,"f_p_r_d1":-0.00019394879751744032,"f_p_r_m6":0.012675915760055778,"f_p_r_y1":-0.0025560361777431373,"f_p_r_y2":-0.0041224970553592755,"last_data_date":"2026-07-09T16:00:00.000Z","f_p_r_y3":0.02484220469124776,"f_i_d":"2022-12-19T16:00:00.000Z"},"ff":{"stockId":3000000016657,"type":"ff","f_m_f":557926,"f_m_f_r":0.003,"f_c_f":185975,"f_c_f_r":0.001,"f_m_a_c_f":743901,"f_m_a_c_f_r":0.004,"f_m_c_f_d":"2024-10-22T16:00:00.000Z","f_c_fr":0.001,"f_fr_d":"2026-06-29T16:00:00.000Z","f_m_fr":0.003,"f_mac_fr":0.004},"f_nlacan":{"stockId":3000000016657,"type":"f_nlacan","f_nv_d":"2026-07-09T16:00:00.000Z","f_nv":1.0146,"f_nv_cr":0},"f_as":{"stockId":3000000016657,"type":"f_as","f_tas":22333.034799999998,"f_tas_d":"2026-03-30T16:00:00.000Z"}},"masterSlaveFunds":[{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj"}],"bondHoldings":[{"_id":"69e8fb001398d79843002e8a","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000016656,"stockCode":"170215","stockName":"17国开15","holdings":800000,"marketCap":85060493,"netValueRatio":0.2099,"lastUpdated":"2026-04-22T16:44:48.304Z"},{"_id":"69e8fb001398d79843002e8b","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000016656,"stockCode":"180210","stockName":"18国开10","holdings":600000,"marketCap":65110454,"netValueRatio":0.1607,"lastUpdated":"2026-04-22T16:44:48.308Z"},{"_id":"69e8fb001398d79843002e8c","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000016656,"stockCode":"190406","stockName":"19农发06","holdings":300000,"marketCap":32848454,"netValueRatio":0.0811,"lastUpdated":"2026-04-22T16:44:48.311Z"},{"_id":"69e8fb001398d79843002e8d","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000016656,"stockCode":"210215","stockName":"21国开15","holdings":300000,"marketCap":32720876,"netValueRatio":0.0807,"lastUpdated":"2026-04-22T16:44:48.315Z"},{"_id":"69e8fb001398d79843002e8e","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000016656,"stockCode":"019768","stockName":"25国债03","holdings":300000,"marketCap":30077572,"netValueRatio":0.0742,"lastUpdated":"2026-04-22T16:44:48.318Z"}]},"list":[{"_id":"69e8ebe81398d79843fe9816","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","stockId":3000000016656,"sao":"2026年一季度，整体来看基本面在制造业和出口层面呈现一定韧性。1-2月工业增加值累计同比增长6.3%，服务业生产指数累计同比增长5.2%，显示出供给侧的恢复较为顺畅。这一趋势在3月得到进一步确认，制造业采购经理指数（PMI）重返50.4%的扩张区间，非制造业商务活动指数也维持在50.1%的荣枯线之上。美国经济在一季度仍体现出相对韧性，东亚制造链景气改善。 但能源冲击导致政策空间被压缩，市场从“降息驱动风险资产上行”迅速切换为“通胀再起”的框架。中国方面，一季度GDP同比增长5.0%，第一产业增加值增长3.8%，第二产业增长4.9%，第三产业增长5.2%，整体实现“开门红”。 但从分项看，增长动能更依赖外需、工业生产和基建，而居民消费、房地产和居民端价格水平修复仍显不足。政策方面，政策重点放在消费、科技创新、制造业升级、债务风险化解和房地产去库存等方面。消费方面，政策安排了2500亿元消费品以旧换新资金，并计划设立1000亿元专项资金促进内需，但增量力度较2025年并未显著扩大。     2026年一季度，中国债券市场在宏观经济弱复苏、流动性合理充裕以及国际地缘政治影响的复杂背景下，展现出稳健运行、结构分化的鲜明特征。一季度债券市场保持窄幅波动，在下行过程中，本基金逐步降低了债券仓位，同时做好流动性管理。","lastUpdated":"2026-04-22T15:40:24.724Z","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2026年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1481405","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257d0","date":"2025-12-30T16:00:00.000Z","declarationDate":"2026-01-20T16:00:00.000Z","stockId":3000000016656,"sao":"四季度债市呈现“震荡修复”格局，利率中枢在资金面宽松与风险偏好回升的博弈中波动。长端和超长端利率受央行重启国债买卖操作、基本面预期变化等影响，震荡上行；中短端利率因资金面维持宽松，配置价值凸显。市场逻辑从“资本利得驱动”转向“票息收益主导”。 整体来看，2025年四季度中国宏观经济呈现“温和复苏、通胀趋暖”的特征。货币政策延续宽松基调，流动性合理充裕；利率债市场供给放量，长短期限利差走扩、收益率曲线变陡。投资策略和产品运作方面，四季度本基金主要以票息为基础，波段增强收益。其中，以“中短久期利率债”为基础持仓，把握利率波动中的波段机会。","lastUpdated":"2026-03-09T13:58:02.889Z","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2025年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1460929","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257cf","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-27T16:00:00.000Z","stockId":3000000016656,"sao":"2025年三季度利率债收益率呈现整体震荡上行走势，7月初期收益率较为稳定，随后受“反内卷”提振通胀预期影响，权益与商品市场大涨压制债市；8月随着资金面平稳及央行流动性呵护，收益率小幅回落；9月受公募基金费率新规征求意见稿的推出、美联储降息等因素交织，收益率波动加剧，超长端上行更为显著。产品层面，季度初期观察到收益率出现上行趋势，择机调降了久期，降低了长端和超长端的利率风险暴露。9月在跨季资金面震荡过程中，进行了超长端波段交易，但并未持续增加组合久期，整体保持略低于标配的久期水平。","lastUpdated":"2026-03-09T13:58:02.886Z","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2025年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1380976","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257ce","date":"2025-06-29T16:00:00.000Z","stockId":3000000016656,"sao":"2025年一季度，央行收紧流动性，资金价格中枢抬升。二季度以来，央行持续保持流动性适度宽松、充裕，基本面保持弱复苏进程，债市稳定修复。债券收益率由于一季度资金面收紧导致上行到相对高位，二季度整体呈下行趋势。货币政策方面，央行一季度暂停国债买卖操作，但二季度在中美关税摩擦升级后进行了降息降准操作，有利于债市持续修复。2025年一季度，受央行收紧流动性等影响，债市经历调整，在债券收益率调整过程中，本产品保持相对稳定的久期和持仓结构，并适度进行波段操作增厚收益。二季度产品在运作过程中，把握住收益率下行趋势，保持中性偏高久期和适度杠杆，同时增配中短端国债，积极参与货币宽松预期下的短债交易机会。","declarationDate":"2025-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.883Z","mo":"三季度及下半年消费刺激政策等有望持续推进，“两新”，“两重”等政策大概率有望继续保持，中美贸易摩擦逐渐降温，宏观基本面保持稳定的概率较大。货币政策方面，央行继续保持适度宽松、流动性充裕的概率较大。财政政策方面，更加积极的财政政策有望会适时加力，有助于维持基本面经济持续复苏。此外，上半年国债发行进度较快，也为未来新增国债融资提供了充足空间，财政发力可以进一步期待。综合考虑基本面、货币政策和财政政策，预计债券市场基本保持稳定的概率较大。","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1345867","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257cd","date":"2025-03-30T16:00:00.000Z","stockId":3000000016656,"sao":"一季度基本面复苏延续但分化明显，宏观数据延续了2024年四季度以来复苏态势，消费和制造业投资回升，基建投资保持高位，但房地产投资修复仍需要更多时间。财政政策前置发力，地方政府专项债发行提速；货币政策持续维持紧平衡状态，一季度资金面持续偏紧，资金价格中枢大幅抬升。受央行收紧流动性等影响，债市经历显著调整，10年期国债收益率自低点上行约30BP。在债券收益率调整过程中，本产品保持相对稳定的久期和持仓结构，并适度进行波段操作增厚收益。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.880Z","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2025年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1277170","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257cc","date":"2024-12-30T16:00:00.000Z","stockId":3000000016656,"sao":"2024年，宏观经济在高质量发展背景下稳定增长，总量和高频数据在经济复苏阶段存在一定的波动。政策环境方面，适度宽松的货币政策为市场提供了充裕的流动性环境，财政政策也更加积极。此外，针对资金空转、手工补息等行为，主管部门持续加强了监管力度。强监管环境下，银行体系内低效存贷款规模有所缩小，对进一步稳固高质量发展成果有较大助力。同时，银行体系内部分存款资源转移至非银系统，有助于稳定债券收益率水平。银行间流动性充裕，以及债券类资产相对欠配的主逻辑短期内改变的概率不大，因此债券收益率大幅上行的风险相对可控。基于此判断，2024年，本基金基本保持略微超出中枢的久期配置。在收益率持续下行的环境中，为了保持产品较好的流动性，以便于及时进行波段操作，在券种方面主要以利率债为主。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.877Z","mo":"展望未来，基本面角度来看，地产处于复苏阶段，财政增量能否提升可能取决于经济数据指标走势，存在不确定性。基建仍需寻找能够有效带动总量增长的抓手，且需要财政发力提供协助。2025年财政赤字率提升的概率较高，超长期特别国债规模有望提升，降准降息等发力政策也值得期待。外部环境方面，美国对其他国家加征关税，可能增加对贸易的扰动，或加速全球产业链重构。","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1258612","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257cb","date":"2024-09-29T16:00:00.000Z","stockId":3000000016656,"sao":"2024年三季度，在高质量发展背景下，宏观基本面稳定增长，总量和高频数据在经济复苏阶段存在一定的波动。在央行支持性货币政策叠加机构投资者负债端成本持续下降等驱动因素下，债券收益率震荡下行创新低。但其间受央行对国债收益率引导、大型商业银行集中卖出国债、重要会议召开等影响，三季度债券收益率出现较大幅度波动。合理充裕的流动性环境、债券类资产相对欠配的主逻辑短期内改变的概率不大，因此债券收益率大幅上行的风险相对可控。财政政策等因素可能对资产收益率带来扰动，创造更多波段操作的机会。三季度以来产品保持中枢附近久期配置，在券种方面主要以利率债为主，以提升资产流动性和安全性。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.874Z","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2024年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1180285","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257ca","date":"2024-06-29T16:00:00.000Z","stockId":3000000016656,"sao":"2024年上半年，宏观经济在高质量发展背景下逐步复苏，总量和高频数据在经济复苏阶段存在一定的波动。政策环境方面，支持性货币政策为市场提供了中性稳健的流动性环境，财政政策相对稳定，政府债供给量并未显著增多。市场环境方面，非银资管规模有所扩大，传统信用主体发行规模不足，造成了结构性的资产欠配局面。此外，针对资金空转、手工补息等行为，主管部门持续加强了监管力度。强监管环境下，银行体系内低效存贷款规模有所缩小，对进一步稳固高质量发展成果有较大助力。同时，银行体系内部分存款资源转移至非银系统，有助于稳定债券收益率水平。银行间流动性中性稳健、相对宽裕，以及债券类资产相对欠配的主逻辑短期内改变的概率不大，因此债券收益率大幅上行的风险相对可控。基于此判断，上半年基本保持略微超出中枢的久期配置。在收益率持续下行的环境中，为了保持产品较好的流动性，以便于及时进行波段操作，在券种方面主要以利率债为主。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.871Z","mo":"宏观层面来看，在外部环境变化带来的不利影响增多，国内有效需求不足，经济运行出现分化的情况下，宏观经济整体呈现稳中有进的态势，但重点领域风险隐患依然较多。目前看，新旧动能转换存在阵痛，高层表态要积极主动应对的同时，也会保持战略定力。合理推测在下半年相关政策可能会延续年初以来的节奏。债券市场方面，在货币政策保持相对平稳的情况下，债券估值大幅波动的概率相对可控。","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放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=1152118","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257c9","date":"2024-03-30T16:00:00.000Z","stockId":3000000016656,"sao":"2024年第一季度，全球宏观经济形势相对平稳，俄乌局面和巴以局面尽管未见缓和，但向周边地区扩散的风险有所降低。海外经济增长动能有所改善，2月全球制造业PMI回升至50.3，连续2个月处于荣枯线及以上。其中，美国经济和通胀继续体现出较强韧性，美联储在3 月 FOMC 维持全年降息 3 次的指引，但市场对二季度降息的预期进一步下降，首次降息时点的不确定性提升。国内方面，一季度经济数据出现一定程度改善，春节之后生产景气度有所回升，3月制造业PMI指数重新回升至荣枯线上，录得50.8，其中生产指数52.2，新订单指数53，新出口订单指数51.3。PMI改善一部分是由于节后复工较好的季节性因素，外需依然好于内需，需要关注后期经济复苏势头能否持续。通胀方面，受春节假期需求回升影响，一季度CPI同比增速回升。2月CPI同比上涨0.7%，环比上涨1.0%，食品价格环比上涨3.3%是主要推动因素；同时，核心CPI同比上涨1.2%，环比上涨0.5%，显示居民消费需求逐步企稳。政策方面，一季度管理层继续通过各项政策夯实经济复苏基础。一季度重新启用PSL，下调存款准备金率0.5个百分点，下调支农支小再贷款、再贴现利率0.25个百分点，持续推动社会综合融资成本稳中有降，2月5年期以上LPR报价下调25BP至3.95%。3月召开的两会显示目前政策基调仍具备较强定力，财政适度发力，赤字率目标维持不变，货币政策维持灵活适度。在此综合影响下，一季度债市稳步上涨，具体看，期间中债新综合全价指数上涨1.35%，中债信用债指数上涨0.70%，中债金融债指数上涨0.55%，中债国债指数上涨1.89%。基金操作上，一季度随着债市上涨小幅降低了组合久期。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.868Z","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2024年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1074320","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257c8","date":"2023-12-30T16:00:00.000Z","stockId":3000000016656,"sao":"2023年，全球宏观经济局势依然复杂。地缘政治方面，俄罗斯乌克兰冲突的紧张局面依然没有缓解，10月巴勒斯坦以色列又起冲突，紧张局面一度扩散到周边国家和地区，直至年底仍未出现改善，地缘政治风险继续影响着全球经济走势。海外市场方面，经过持续一年多的加息周期之后，除美国经济表现出一定的韧性外，其他主要经济体继续面临着通胀居高难下和经济下行压力增大的困局，一季度美国硅谷银行破产以及随后瑞士信贷被瑞银集团收购，都反映了海外金融体系风险已在高位。三季度后美联储暂停加息，但受高通胀掣肘降息何时开启仍未可知。国内方面，经济继续在稳步复苏的通道中，尽管受到海外需求衰退等不利影响，复苏动能有所减弱，但管理层及时出台各项支持政策，巩固了经济复苏的基础。具体看，2023年全年我国GDP同比增长5.2%，固定资产投资同比增长3%，其中基建投资（不含电力）同比增长5.9%，继续发挥着经济稳定器的作用；工业增加值同比增长4.6%，社会消费品零售总值同比增长7.2%，社会生产和居民消费稳步修复。通胀方面，2023年CPI增速明显回落，全年同比增长0.2%，其中食品CPI全年同比下跌0.3%，是主要拖累因素。核心CPI全年同比增长0.7%，较为平稳，反映国内需求反弹幅度有限，仍有进一步修复的空间。政策方面，防风险和稳增长继续贯穿全年主线，随着经济复苏动能出现减弱，政策端也持续加大发力。财政政策方面，年内多个省份披露特殊再融资债发行计划，地方政府债务风险进一步化解；全国人大常委会表决通过2023 年中央赤字自 3.0%上调至 3.8%，并增发 1 万亿元国债，财政宽信用的基调进一步加强。产业政策方面，7月中央政治局会议提出适时调整优化房地产政策，促进房地产市场平稳健康发展，之后全国范围内房地产行业优化政策相继出台，涉及购房资格、贷款利率和首付比例等多个方面。货币政策方面，继续配合财政政策发力，全年两次降准，同时下调7天逆回购和MLF利率等公开市场操作工具利率，LPR利率和银行挂牌存款利率也陆续下调，综合运用数量和价格工具推动实体融资成本下行，稳定经济复苏基础。在此背景下，债券市场全年稳步上涨。具体看，全年中债新综合全价指数上涨2.06%，中债信用债指数上涨2.17%，中债金融债指数上涨1.12%，中债国债指数上涨2.22%。操作上，基金在一季度提升了组合久期，之后在二季度随着各项经济支持政策的出台，小幅降低了组合久期。三季度之后随着货币政策发力，再次逐步提升了组合久期。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.865Z","mo":"展望2024年，我们对国内经济始终抱有信心，经济复苏的方向是确定的，过程中可能会面临一些波折，但是在政策端继续发力、前期各项支持政策效果陆续体现之后，经济超预期下行的风险相对有限。另一方面，海外经济下行风险在加大，地缘政治风险依然存在较大的不确定性，这些因素可能继续导致全球宏观和金融环境继续呈现高波动和高不确定性。在此背景下，债券资产的配置和避险属性会继续凸显，但在经济复苏的进程中波动可能会加大。","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放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=1056163","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257c7","date":"2023-09-29T16:00:00.000Z","stockId":3000000016656,"sao":"2023年三季度，全球宏观经济形势依然复杂，经过持续一年多的加息浪潮之后，海外主要经济体的通胀增速陆续回落，但绝对水平依然处在高位，同时经济衰退风险也出现分化。美国国内经济短期支撑较为强劲，尽管美联储在9月暂停加息一次，但三季度整体表态偏鹰派，全球金融市场继续承压；欧洲经济衰退风险持续上升，但更为顽固的通胀使得欧央行在9月继续加息。国内方面， 7月政治局会议提出加大宏观政策调控力度、加强逆周期调节和政策储备，随后各部门陆续推出一系列经济支持政策，在此影响下，三季度国内经济修复动能较二季度有所好转，制造业PMI自6月开始连续4个月回升，9月PMI重回荣枯线之上至50.2，分项指数中，生产指数改善幅度好于新订单指数，显示在政策支持下供给端短期弹性较大，考虑到政策效果可能存在时滞，需要跟踪需求端改善的可持续性。通胀方面，三季度通胀增速维持平稳，8月CPI同比增长0.1%，其中食品价格同比下跌1.7%，供给改善推动食品价格持续回落；核心CPI同比增长0.8%，显示内需有所企稳。政策方面，为进一步应对二季度以来经济修复动能有所减弱的风险，政策端在三季度进一步发力，7月中央政治局会议提出适时调整优化房地产政策，促进房地产市场平稳健康发展，之后全国范围内房地产行业优化政策相继出台，在购房资格、贷款利率和首付比例等多个方面利好需求端。另一方面，货币政策也更为积极，在8月中旬分别下调MLF利率和公开市场操作7天逆回购利率，并在9月再次下调金融机构存款准备金率。一系列支持政策的推出增强了投资者对于下阶段经济复苏动能修复的信心，而更为积极的货币政策对债市继续形成支撑，在此综合影响下，三季度债市以震荡为主，具体看，期间中债新综合全价指数微涨0.01%，中债信用债指数上涨0.10%，中债金融债指数下跌0.18%，中债国债指数上涨0.11%。基金操作上，三季度，本基金降低了久期。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.863Z","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2023年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=991968","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257c6","date":"2023-06-29T16:00:00.000Z","stockId":3000000016656,"sao":"2023年上半年，随着新冠疫情对人类社会的影响逐渐减弱，全球生产生活陆续恢复，但是，疫情对全球经济造成的影响仍未结束。一季度美国硅谷银行破产作为导火索在欧美国家引发一系列金融风险事件，随后瑞士信贷被瑞银集团收购，加剧了投资者对欧美金融风险的担忧。同时，高企的通货膨胀压力使得美联储为首的各主要央行仍在加息周期中，而随着货币政策持续收紧，海外主要经济体经济衰退的风险也在不断上升。俄罗斯乌克兰冲突的紧张局面依然没有缓解，全球宏观环境继续呈现高波动和高不确定性。国内方面，随着生产生活重回正常轨道，经济进入复苏通道，上半年我国GDP同比增长5.5%，其中一季度单季度同比增长4.5%，但是由于疫情对经济中长期影响仍然存在，同时叠加海外需求衰退的影响，复苏动能在二季度有所减弱，二季度GDP单季度同比增长6.3%，在去年同期低基数的背景下，低于市场预期。主要经济指标也呈现了前高后低的走势：6月份，固定资产投资累计同比增长3.8%，较年初2月份下滑1.7个百分点；房地产开发投资累计同比下滑7.9%，降幅较年初2月份扩大2.2个百分点，行业依然处在风险释放和出清阶段；消费行业受疫情影响较为明显，上半年社会消费品零售总额累计同比下滑0.7%。通胀方面，上半年CPI同比增速一路下行，6月CPI同比增长0%，较1月的2.1%出现回落，同期核心通胀增速也从1月的1%降至0.4%。生产活动恢复之后带来的部分必需消费品供给关系改善以及食品价格整体维持低位是主要原因。另一方面，国内需求整体相对疲弱，也导致了通胀增速相对较低。政策方面，随着国内经济复苏动能出现减弱，上半年政策基调也发生了较为积极的变化。央行一方面继续通过公开市场操作向市场投放流动性，维持资金面整体稳定，同时在3月降低金融机构存款准备金率0.25个百分点。二季度之后宏观经济数据整体走弱，显示短期经济面临的下行压力有所加大，政策随之进一步发力，央行在6月上旬引导国有大行和股份制银行陆续下调存款利率，随后下调了公开市场操作7天逆回购利率，之后的MLF和LPR利率也随之下调。低于预期的经济复苏走势和更为积极的货币政策共同推动债券市场在上半年一路走强。具体看，上半年中债新综合全价指数上涨1.22%，中债信用债指数上涨1.45%，中债金融债指数上涨0.46%，中债国债指数上涨1.28%。权益方面，年初市场一度延续去年底的行情，但随着宏观经济数据走弱，经济复苏力度低于预期，投资者风险偏好重新回落，指数随之开始震荡调整。具体看，上半年沪深300指数下跌0.75%，上证50指数下跌5.43%，中小板指下跌1.84%，创业板指下跌5.61%。基金操作上，在一季度拉长了组合久期，之后在二季度随着各项经济支持政策的出台，小幅降低了组合久期。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.860Z","mo":"展望下半年，我们对国内经济重拾复苏势头抱有信心。但是疫情对于经济的影响可能将持续较长时间，同时海外经济体衰退风险的提升和地缘政治风险也会使国内经济承压，未来宏观和金融环境可能继续呈现高波动和高不确定性的特点。在这一背景下，货币政策有望继续维持积极且偏宽松的基调，利好债券资产，同时由于其避险属性和相对较低的波动率，依然具备较高的配置价值。","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放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=966591","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1ea7fea5b3eb05257c5","date":"2023-03-30T16:00:00.000Z","stockId":3000000016656,"sao":"2023年一季度，新冠疫情在全球范围内的影响进一步减弱，但其对全球经济的负面影响仍在持续发酵。3月初，海外一系列的风险事件加剧了投资者对欧美金融风险的担忧，尽管如此，美联储和欧央行在3月依然继续加息以应对依然严峻的通胀压力。俄乌冲突的紧张局面依然没有出现明显缓解，全球宏观环境不确定性有所上升。国内方面，随着防疫政策的不断优化，居民生产生活逐渐恢复，同时国际往来通行也较快恢复，经济如预期修复。一季度，官方制造业PMI指数重新企稳于50的景气线之上，但3月官方制造业PMI从2月的52.6回落0.7个点至51.9，尽管主要分项指数仍然位于景气线之上，但较2月均出现一定回落，显示经济修复的基础可能尚不稳固，不能忽视疫情的中长期影响。通胀方面，一季度通胀增速维持低位，2月CPI同比增长1%，较1月回落1.1个百分点，食品价格尤其是猪肉价格维持弱势是主要原因；2月核心CPI同比增长0.6%，较1月回落0.4个百分点，尽管疫情后线下消费场景明显回暖，但相关项目依然上涨动能不足，显示目前国内需求依然相对疲弱，在此背景下短期通胀风险有限。 政策方面，维稳经济增长依然是一季度政策的主线，在海外风险加大的背景下，政策基调继续维持相对克制。央行主要通过公开市场操作向市场投放流动性，维持资金面平稳，并在3月17日公告于2023年3月27日降低金融机构存款准备金率0.25个百分点。此次降准时点略超出市场预期，我们认为一方面体现了政策对靠前发力和主动发力的选择，同时也反映了目前经济复苏的基础尚不稳固，需要政策持续呵护。一季度初投资者对于下阶段宏观经济预期出现较大改善，债市随之调整，但随着经济数据转弱以及超预期的降准，债市重新回暖。具体看，一季度中债新综合全价指数上涨0.28%，中债信用债指数上涨0.84%，中债金融债指数下跌0.47%，中债国债指数上涨0.15%。基金操作上，从年初开始逐渐提高组合债券仓位，并在2月拉长了组合久期。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:58:02.857Z","fund":{"_id":3000000016656,"__csrcFundId":12140,"stockCode":"016656","shortName":"汇丰晋信丰宁三个月定开债券(016656)","masterFundShortName":"汇丰晋信丰宁三个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":16656,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:09:21.930Z","status":"normal","exchange":"jj","fundCollectionId":4000050520000,"inceptionDate":"2022-12-19T16:00:00.000Z","name":"汇丰晋信丰宁三个月定期开放债券型证券投资基金","setUpDate":"2022-12-19T16:00:00.000Z","setUpAssetScale":1260018483.93,"setUpShares":1260018483.93,"pinyin":"hfjxfnsgydqkfzqxzqtzjj","managers":[{"stockCode":"j101019663","stockType":"fund_manager","exchange":"fm","tickerId":1225246560,"name":"刘洋"},{"stockCode":"db20774967","stockType":"fund_manager","exchange":"fm","tickerId":62517210050,"name":"傅煜清"}]},"announcement":{"linkText":"汇丰晋信丰宁三个月定期开放债券型证券投资基金2023年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=885872","linkType":"PDF","source":"csrc_pdf"}}]}