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半年，权益资产采取“哑铃型”投资策略，一方面关注红利资产，另一方面通过科技类资产增加组合的弹性。在贸易事件的冲击下，基金以控制回撤为目标，使得组合趋于稳健。下半年，市场逐步趋稳，投资主线相对明确，基金积极寻找投资机会，配置的黄金、铜以及科技类资产对组合有正贡献。基金规避主题投资，尽量减少组合的波动。此外，基金增加了港股配置，主要关注了互联网和创新药资产。","lastUpdated":"2026-04-01T12:51:39.898Z","mo":"展望2026年，中国经济有望在十五五开局之年实现稳中有进。服务消费与投资于人有望成为消费的新亮点，部分上游资源品涨价有望传导，企业ROE触底回暖，全球制造业景气回升有望带动出口增速温和改善。　　在“增强国内资本市场的吸引力和包容性，巩固资本市场回稳向好势头”的政策支持下，证券市场迎来新的发展机遇。《推动公募基金高质量发展行动方案》及相关配套文件有望重塑基金行业生态。鼓励长期资本、耐心资本入市，长钱长投，有助于稳定市场。低利率背景下，存款与理财资金有望部分增配含权资产。国内稳定的政策环境和日益提升的上市公司质量将吸引更多的海外资金关注中国资产。从股债性价比角度看，权益资产具备较好的吸引力。随着赚钱效应的提升和风险偏好的改善，市场增量资金可期。　　我们预计，26年各行业景气度会呈现结构性分化，科技、部分上游资源与新兴消费领域会表现较好，传统制造与房地产相关产业链行业压力较大。基金的权益资产主要关注景气度向上的行业，阶段性做好平衡。新兴产业与未来产业（量子科技、生物制造、氢能与核聚变能等）受益政策支持，天花板高，估值扩张弹性大，有望成为资金关注热点，但是投资的波动性可能会较大。海外云厂商资本开支持续高增，AI推理驱动数据中心存储需求爆发，AI与算力产业链业绩兑现度高。地缘风险与美元信用波动推升避险需求，贵金属价格有望震荡上行。BD首付款创历史新高，研发端景气度全面回升，创新药也值得关注。","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期混合型证券投资基金2025年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1461664","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb0529474","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-27T16:00:00.000Z","stockId":3000000017118,"sao":"三季度，权益指数整体表现较好，成交活跃，板块表现分化较大，成长风格好于价值风格。报告期内沪深300指数上涨17.90%，创业板指上涨50.40%。板块方面，通信、电子等表现较好，银行、交运等表现较弱。国债收益率震荡上行，中证全债指数下跌1.12%。　　报告期内，面对权益市场的变化，基金积极应对，并保持稳健的投资策略。从大类资产配置角度看，考虑到权益资产的性价比，基金提升了权益占比，并相应减少固收与现金管理类资产。在权益资产中，基金增配了黄金、铜等受益于供给约束与价格上涨的品种。电子、电力设备等景气品种提供了组合弹性。银行、食品饮料等配置对组合造成一定拖累。基金配置了部分港股，方向是互联网、半导体、医药。对于债券投资，我们坚持投资高评级债券以规避信用风险可能带来的波动，债券部分整体久期中性，部分转债配置取得了不错的效果。","lastUpdated":"2026-03-09T13:59:00.170Z","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期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=1381072","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb0529473","date":"2025-06-29T16:00:00.000Z","stockId":3000000017118,"sao":"上半年，国内宏观经济总体保持稳健增长，GDP同比增长5.3%。经济运行呈现“量升价缓”的特征，消费和出口成为主要支撑力量，投资增速有所放缓，房地产市场仍处于调整阶段。积极的财政政策持续落地，“两重”、“两新”政策落地见效，拉动消费增速企稳向上。适度宽松的货币政策为经济增长提供了充裕的流动性。二季度，中美贸易摩擦对经济产生阶段性扰动，制造业PMI回到荣枯线之下，抢出口因素走强。社会消费品零售增速稳中有升，表征价格端的PPI和CPI偏弱，尽管近期国内需求修复对物价的支撑作用逐步显现，但整体仍有压力。　　报告期内，面对事件冲击，证券市场表现出一定的韧性，主要指数震荡上行。沪深300指数上涨0.03%，创业板指上涨0.53%。板块方面，有色金属、银行涨幅较大，煤炭、地产等表现较差，主题投资风格占优，军工、半导体、光刻机等方向领涨，光伏、稀土永磁、AI应用、机器人、创新药概念股活跃。国债收益率延续震荡，中证全债指数上涨1.14%。　　基金延续稳健的运作管理方式，力争追求更好的风险收益比。上半年的投资运作上，一季度保持权益仓位整体稳定，结构上平衡“哑铃型”两类风格资产，红利资产中仅银行股表现较好，科技类方向贡献了组合的弹性。二季度，在贸易事件的冲击下，基金一方面关注回撤，另一方面调整内部结构，使得组合趋于稳健。在行业构成上，机械设备、有色金属、电力设备行业对基金正贡献明显，部分科技类方向也有一定贡献。在风格因子上，基金在红利、质量、稳健类因子上的暴露取得了一定效果。权益投资贡献了基金的主要收益，在信用债、转债上取得了一定的绝对收益。对于债券投资，基金主要投资于中短久期的高评级信用债，部分转债配置取得了不错的效果。此外，基金增持了港股配置，主要关注了互联网和医药资产。","declarationDate":"2025-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:00.167Z","mo":"展望未来，我们在关注总量的时候，更加关注内部结构的变化，科技的发展与新消费时代的来临，使得经济展现出较好的活力与韧性，新质生产力方向继续快速发展。随着政策持续发力，预计下半年CPI有望温和回升，PPI降幅收窄。中美贸易谈判的持续推进，对于出口的过度担忧有望缓解。海外来看，我们关注美国通胀压力的变化以及美联储年内降息的举措，这将影响全球流动性的宽松。　　政策致力于增强资本市场的吸引力和包容性，巩固回稳向好的势头，因此资本市场的吸引力不断提升。随着人民币资产的比较优势提升，海外资金、国内保险、居民存款等增量资金的入市，都有望为市场带来积极的影响。从大类资产的比较以及权益市场的各个估值指标来看，我们对权益市场未来保持乐观。证券市场的包容性允许多种投资策略的存在，我们积极关注的主线包括：受益于增量资金入市的大金融板块；中国科技力量的崛起以及景气度持续的高端装备、新消费等；“反无序竞争”政策带来的部分股票估值修复的机会。港股市场也值得积极关注，包括互联网、创新药、新消费等，已经成为投资新方向。","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期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=1351798","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb0529472","date":"2025-03-30T16:00:00.000Z","stockId":3000000017118,"sao":"一季度，国内经济展现良好开局。积极的财政政策持续落地，稳步推进落实“两重”、“两新”，适度宽松的货币政策为经济增长提供了流动性支持。制造业PMI回升至荣枯线之上，工业增加值平稳增长，表征价格端的数据PPI和CPI仍然偏弱。海外市场，美、日股市下跌，欧洲较好，大宗商品分化，其中铜价震荡，金价创新高，油价下跌，十年美债收益率震荡下行，美国隐现滞胀风险；新兴市场中恒生科技表现最好。　　报告期内，权益指数波动较大，成交活跃，板块表现分化较大。报告期内沪深300指数下跌1.21%，创业板指下跌1.77%。板块方面，有色金属、汽车等表现较好，煤炭、商贸等表现较弱。市场主题投资活跃，科技成为关键词之一。在较强的经济基本面下，国债收益率走高，中证全债指数下跌0.79%。　　报告期内，市场对权益投资的信心提升，基金把握权益资产带来的投资机会，在大类资产配置上取得一定效果，权益资产是收益主要来源。行业配置上，基金关注质量与价值因子，稳健的红利品种是主要配置方向，包括金融、家电、食品饮料、石油石化、纺织服装、交通运输、动力煤等。另一方面，基金在港股龙头股上的配置也取得一定收益。债券投资上，采取票息策略，中短久期，部分转债配置取得了不错的效果。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:00.165Z","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期混合型证券投资基金2025年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1277809","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb0529471","date":"2024-12-30T16:00:00.000Z","stockId":3000000017118,"sao":"2024年，中国宏观经济呈现“稳中有进”的复苏态势。全年GDP增速达5%，在房地产市场探底与社零增速下滑的背景下，依靠出口与投资发力对经济形成有力支撑。三季度末，各项政策“组合拳”出台，货币政策与财政政策共同发力，经济景气进入扩张区间，对市场影响积极。海外来看，全球经济增速不均衡加大。美国通胀水平下降缓慢，国债收益率高位震荡，美联储三次降息，全球流动性缓解，美国新政走向趋于不明朗。　　全年来看，权益市场宽幅震荡，板块表现分化较大，不同区间内市场风格亦有较大差异。上半年，市场风险偏好较低，确定性成本投资主线，大盘价值、红利低波是投资方向。在风险偏好下降的情况下，银行、公用事业、有色、石油石化、煤炭等涨幅靠前。9月下旬，一系列重要会议与政策之后，市场预期快速扭转，成交量快速上行，市场风险偏好有所回暖，高波动性特征开始体现。全年看，沪深300指数上涨14.68%，创业板指上涨13.23%。板块方面，银行、非银金融涨幅较大，医药、农林牧渔等表现较差。国债收益率延续下降趋势，中证全债指数上涨8.83%。　　报告期内，基金保持稳健的投资策略应对波动的权益市场。从大类资产配置角度看，基金保持权益资产和固收资产的基本稳定。从中观行业与结构上，基金一方面沿着红利低波进行配置，石油石化、煤炭、金铜有色、公用事业是主要持仓行业，一定程度上切合了市场风格，另一方面关注了电子、高端装备、汽车等，对于消费品也保持了基本的配置。随着三季度末市场风格的变化，基金积极应对，适度增配一些弹性资产。在个股选择上，基金筛选业绩增速稳定、估值合理的细分行业龙头公司，相信它们穿越周期的能力，现金流、ROE与股息率是重要的观察指标。对于债券投资，在债券收益率下行的背景下，基金坚持投资高评级债券以规避信用风险可能带来的波动，保持了中短久期，使组合的稳定性增强。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:00.162Z","mo":"展望2025年，国内经济有望保持稳定增长。财政、货币政策发力的效果持续体现，经济复苏的信心有望进一步恢复。较大规模的化债方案有利于化解地方债务风险，地方政府有更多资源投入到民生、投资等领域。大规模设备更新和消费品以旧换新扩大内需，利于经济高质量发展。经济有望在深化改革、优化结构、应对内外部挑战等方面见到更多举措落地。海外来看，美国通胀数据有韧性，特朗普新政下的关税政策不利于通胀水平的下降，美联储降息节奏预测难度加大，大宗商品走势复杂。其他经济体也面临自身经济周期与美国政策扩散的多重影响。　　对于证券市场而言，我们相信中国资产在全球看来重要性不断提升，估值水平、新经济的结构性亮点、未来的成长空间成为重要的配置因素。监管机构鼓励布局优质权益资产、大力推动中长期资金入市、促进资本市场高质量发展。资本市场有望在做好金融“五篇大文章”中发挥积极作用。从投资角度看，风险溢价率、股息率等指标显示，权益资产越来越具备投资价值，而PE\\PB已经处于历史低位，考虑到政策落地与经济企稳回升，ROE与现金流的改善也值得期待。我们对权益投资的信心进一步提升。　　从行业角度看，上游资源品中，全球定价的大宗商品要面临各自经济周期、供求关系影响，国内的煤炭行业需求平稳，更多从分红角度去看；中游的制造业分化较大，受下游新兴产业拉动、进口替代的细分行业值得重点关注，包括半导体、消费电子、机器人、电气设备等领域景气度较高；消费品中，我们关注电动车产业链、新兴消费等；在全球科技浪潮下，中国新兴势力不容小觑，AI大模型、算力建设产业链处于大规模、快速投入期；对于周期品和房地产产业链，我们观察各自的量价关系、需求拐点等因素进行跟踪。　　整体来看，面对国内证券市场的新变化，基金将积极把握权益资产的投资机会，同时做好大类资产配置，力求使组合运作更加稳健。","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期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=1255754","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb0529470","date":"2024-09-29T16:00:00.000Z","stockId":3000000017118,"sao":"三季度，市场走势跌宕起伏波动加大。受经济数据影响，7、8月市场震荡下行，避险情绪为主，投资方向集中在大盘价值、红利高股息类资产。9月下旬以后，政策积极发力，市场预期快速扭转，成交量快速上行。监管机构关于金融支持经济高质量发展的表态、特别是政治局会议的定调，让市场聚焦于未来的增量政策和改革举措。随着9月下旬以来的剧烈波动，今年各行业的涨跌表现也发生很大变化。报告期内，主要宽基指数录得10%甚至20%以上涨幅。所有行业均上涨，券商、房地产、社会服务、计算机涨幅靠前，前期防守特征的煤炭、石油石化、公用事业、银行等涨幅靠后。国债收益率延续下降趋势，中证全债指数上涨1.24%，利率债高位波动。　　报告期内，基金保持稳健的投资策略。从大类资产配置看，各类资产较前期变化不大。从权益投资角度看，红利品种是基金的主要配置方向，如煤炭、公用事业、石油石化以及交通运输。政策着力于扩大有效需求，龙头消费公司处于历史估值低位，基金提升了食品饮料的权重。先进制造业也是基金关注方向，基金从景气度的角度出发选择了消费电子进行配置。基金从票息和稳健性角度出发，配置了高评级、中短久期的信用债，并少量配置了转债。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:00.159Z","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期混合型证券投资基金2024年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1178086","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb052946f","date":"2024-06-29T16:00:00.000Z","stockId":3000000017118,"sao":"上半年，国内经济同比增长5%，增速预计在世界主要经济体中保持领先，总体看，经济运行总体平稳、稳中有进，延续回升向好态势。经济领域运行出现分化：制造业在3、4月回升至荣枯线以上，5、6月又有走弱的迹象，工业增加值和工业企业利润增速有所回落；社会消费品零售增速放缓，CPI转正，PPI的降幅收窄；出口延续较好的趋势，对经济形成有力支撑。海外来看，美国经济运行在周期高位，CPI处于较高水平，美元指数相对强势，欧央行开始降息，新兴经济体增长动能较好。受地缘政治避险情绪等影响，黄金价格表现强势。　　报告期内，市场宽幅震荡，板块表现分化较大。市场风险偏好较低，红利资产、大盘价值类板块表现较好，阶段性存在主题性投资机会，但缺乏持续性。报告期内沪深300指数上涨0.89%，创业板指下跌10.99%。板块方面，银行、煤炭涨幅较大，消费者服务、计算机等表现较差。国债收益率延续下降趋势，中证全债指数上涨4.31%。　　报告期内，基金的投资目标和投资策略保持不变。基金的行业配置维持稳健，配置了煤炭、有色金属、公用事业、石油石化等资产，一定程度上切合了市场风格。基金保持了食品饮料、高端制造的基本配置。基金关注电力设备、通信、电子等的投资机会，但因为行业轮动较快，整体表现不佳。基金从票息和稳健性角度出发，配置了高评级、中短久期的信用债，适度参与了转债投资，有一定的正贡献。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:00.156Z","mo":"展望未来，全年GDP增长的目标在5%左右。二十届三中全会顺利召开，强调进一步全面深化改革，推进中国式现代化。近期货币政策和产业政策持续出台，对于稳定内需具有重要意义。　　当前权益市场整体估值处于较低水平，在大类资产对比中具有较好性价比。海外来看，美国经济数据已经有转弱的迹象，美联储年内降息成为大概率事件，全球流动性的宽松也会对A股和港股市场有积极影响，我们对权益市场未来保持乐观。方向上相对看好盈利稳健、分红确定的个股，可以对冲全球地缘政治风险的黄金股，部分受益于全球科技浪潮的成长股。近期国内刺激政策出台较多，适当参与受益于内需政策、估值较低的消费医药等板块。我们将保持耐心，积极应对，力求给投资人带来稳健回报。","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期混合型证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1154136","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb052946e","date":"2024-03-30T16:00:00.000Z","stockId":3000000017118,"sao":"一季度，国内经济延续复苏态势。制造业PMI重返扩张区间，达到50.8，这为GDP同比稳健增长奠定基础。分结构看，出口、企业固定资产投资、结构性的消费需求成为拉动经济的重点抓手。海外经济态势呈现区域性的不均衡，增长亮点在新兴经济体。美国CPI处于较高水平，支撑美元指数，经济有一定韧性，降息预期一再延后。多重因素推动资源品价格上行、黄金、石油均有表现。　　报告期内，沪深300指数上涨3.10%，创业板指下跌3.87%，中证全债指数上涨2.34%。市场整体风格偏向大盘价值、红利低波，如银行、石油石化、煤炭、家电等涨幅靠前。整体看，行业涨少跌多，主题性机会往往短暂。市场逐步消化1月流动性层面的影响。　　报告期内，基金以绝对收益作为投资目标，坚持稳健的投资策略，力争好的风险收益比。从大类资产配置角度看，基金采取了中性或略降的权益仓位，尽量减少权益市场的波动对于净值的影响。基金从高股息与红利角度，配置了煤炭、有色金属、公用事业、石油石化等资产，维持了食品饮料、电力设备等的基本配置，少量配置了高端制造、电子等。基金未参与快速轮动的主题投资，也未博弈地产链的相关变化，继续等待基本面的改善。基金从票息的角度出发配置固收资产，使组合的收益率更加扎实，基金的关注点在于高评级的信用债。基金择机关注了转债的投资机会，对组合亦有一定正贡献。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:00.152Z","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期混合型证券投资基金2024年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1064902","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb052946d","date":"2023-12-30T16:00:00.000Z","stockId":3000000017118,"sao":"2023年，中国经济进入疫后复苏过程。一季度疫情之后的迅速恢复，二季度复苏的动能略有不足，三季度有小幅好转，四季度再次承压。全年GDP增速5.2%，CPI和PPI较为低迷，房地产开发投资和销售仍然有较大压力，出口部分承压，消费复苏对经济有明显的拉动。海外发达经济体通胀韧性仍强，美联储延续了22年的加息周期，全年加息四次，美债收益率全年冲高回落，对全球风险资产形成了压制，但本轮美联储加息周期基本已近尾声。　　报告期内，A股整体下跌，沪深300指数下跌11.38%，创业板指下跌19.41%，恒生指数下跌13.82%，尽管微盘指数录得较大涨幅，但归因于流动性背景下量化交易驱动的结果。主题板块方面，一方面，受人工智能等产业趋势拉动，通信、传媒等阶段性表现较好；另一方面，在市场总体偏稳健的背景下，投资者对红利资产的偏好度提升，煤炭、银行等板块表现较好。由于经济整体偏弱等原因，消费者服务、地产、新能源等板块跌幅较大。国债收益率一路走低，中证全债指数上涨5.23%。外资流动对市场产生影响，后半年呈现净流出。　　报告期内，基金采取稳健的投资策略，力争追求好的风险收益比。权益市场波动较大，基金积极调整组合结构加以应对。上半年，基金在电力设备与新能源、消费、医药上的配置较多，随后，基金关注行业景气度与市场预期的边际变化，调整了行业占比，配置趋于分散。下半年特别是四季度，行业配置偏向防御，增配资产为煤炭、有色金属（含黄金）、公用事业等。全年来看，基金保持了消费、高端制造的基本配置。对于债券投资，基金主要配置了高等级信用债。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:00.149Z","mo":"展望2024年，GDP增速目标预计维持在5%左右，货币和财政政策有望持续发力，地产行业降幅有望收窄，居民的消费信心有望继续恢复，国内需求成为经济的重要支撑力量。经历过疫后修复的2023年，国内经济进入高质量发展阶段，新质生产力成为推动经济的重要力量。因此需要我们以新的视角去挖掘其中的投资机会。　　整体看，2024年的证券市场机遇与风险并存，投资的性价比较好。中国制造业在全球的竞争力仍然很强，出口也有望保持良好态势。当前A股主要宽基指数估值基本处于近几年最低分位数，在基本面不断边际改善、政策持续发力的背景下，权益市场的表现值得期待。我们既关注中长期提供稳健现金流与分红的优质资产，也对于新技术、新趋势保持密切关注。","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期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=1060630","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb052946c","date":"2023-09-29T16:00:00.000Z","stockId":3000000017118,"sao":"三季度，国内经济数据处在筑底修复的过程中，CPI在0附近波动，PPI降幅显著收窄，商品价格企稳反弹。出口数据降幅减小，社融增量规模总体偏弱，结构仍有待时间改善。海外方面，美联储7月加息25Bps，后续仍不排除继续加息的可能但空间有限，美联储鹰派态度有所转弱，整体看，美元强势对全球资产定价产生广泛影响。  报告期内，市场认为经济复苏斜率较弱，前期强势板块催化减弱，主题性机会退潮，市场在寻找新的方向。指数震荡下跌，板块分化较大。报告期内沪深300指数下跌3.98%，创业板指下跌9.53%。板块方面，煤炭、非银、石油石化等表现较好，传媒、计算机等表现较差。对政策预期的变化导致国债收益率震荡上行，中证全债指数上涨0.73%。  报告期内，我们积极调整组合结构以应对市场变化，坚持“以稳为主、适度弹性”的投资思路。基金保持了消费、高端制造的基本配置，适度参与了一些顺周期板块，增配了金融、医药等。对于债券投资，我们坚持投资高评级债券以规避信用风险可能带来的波动。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:00.147Z","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":"浦银安盛安荣回报一年持有期混合型证券投资基金","inceptionDate":"2023-04-18T16:00:00.000Z","setUpDate":"2023-04-18T16:00:00.000Z","setUpAssetScale":184036613.94,"setUpShares":184036613.94,"pinyin":"pyasarhbyncyqhhxzqtzjj","managers":[{"stockCode":"db20277724","stockType":"fund_manager","exchange":"fm","tickerId":262508141270,"name":"褚艳辉"}]},"announcement":{"linkText":"浦银安盛安荣回报一年持有期混合型证券投资基金2023年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=992525","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2247fea5b3eb052946b","date":"2023-06-29T16:00:00.000Z","stockId":3000000017118,"sao":"一季度，国内卫生防控措施进一步优化，生产生活趋于活跃，经济呈现复苏态势，部分行业加速恢复至疫情前水平，市场风险偏好开始回暖。政府工作报告围绕高质量发展，将全年经济增长目标定在GDP增速5%左右，符合经济发展的实际水平，有利于中长期预期稳定。进入二季度，国内经济在前期修复之后，呈现出斜率放缓的态势。CPI维持低位，PPI跌幅扩大，出口数据冲高回落，地产数据回落明显，社融增量规模总体偏弱。全球经济略有回升，海外主要经济体处于高利率环境，整体增长乏力，CPI读数较高，美联储加息周期延续，通胀韧性使得美债收益率维持高位，人民币汇率承压。  报告期内，市场对经济预期和政策预期的波动加大，A股呈现宽幅震荡。报告期内沪深300指数下跌0.75%，创业板指下跌5.61%。板块方面，受益于人工智能的产业趋势，TMT等板块涨幅较大，对经济预期的变化，导致消费者服务、地产等板块表现相对较差。对经济复苏斜率的不确定性使得国债收益率整体震荡走低，中证全债指数上涨2.98%。  基金坚持稳健的投资策略，力争追求好的风险收益比。报告期内，基金正处于建仓期，坚持稳健、均衡的投资策略调整投资组合，在权益投资部分保持了相对较低的配置。通过积极研究产业趋势，权益组合增配了估值处于较低水平的传媒、计算机等板块，适度参与基本面有边际改善的板块，如通讯，增配了国产替代自主可控的半导体，增配了具有弱周期特征的公用事业。对于食品饮料、医药等保持了基本的配置。对于债券投资，我们坚持投资高评级债券以规避信用风险可能带来的波动。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:00.144Z","mo":"展望下半年，内外部环境均存在一些不确定性。我们认为，持续出台的产业政策和宽松的货币政策将带来积极影响，有利于国内经济保持韧性。经济的稳健运行将成为主旋律，权益资产估值水平具备一定的提升空间。伴随着经济企稳修复，消费、地产链以及上游相关的化工品等都有一定的投资机会。人工智能技术是驱动我国产业智能化转型升级的重要技术基础，产业高景气度带来的TMT行业的投资机会也是值得重点关注的方向。在宏观环境积极稳定的情况下，权益和债券市场均具有结构性的机会，我们将保持耐心，积极应对，力求给投资人带来中长期的稳健回报。","fund":{"_id":3000000017118,"__csrcFundId":12372,"stockCode":"017118","shortName":"浦银安盛安荣回报一年持有混合(017118)","masterFundShortName":"浦银安盛安荣回报一年持有混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":17118,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:24:19.865Z","status":"normal","exchange":"jj","fundCollectionId":4000050590000,"name":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