window.pageData = {"stock":{"_id":3000000019600,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"鹏华智投800混合A","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","fundCollection":{"exchange":"jjgs","stockType":"fund_collection","stockCode":"50060000","tickerId":50060000,"name":"鹏华基金管理有限公司"},"managers":[{"name":"时赟超","stockType":"fund_manager","stockCode":"j101020057","exchange":"fm","tickerId":192503246320}],"hotMetrics":{"fss":{"stockId":3000000019600,"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":226,"f_h_s_a":52944,"last_data_date":"2025-12-30T16:00:00.000Z","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},"fpr":{"stockId":3000000019600,"type":"fpr","f_p_r_fys_ssc":8993,"f_p_r_fys_ssrp":0.45062277580071175,"f_p_r_m1_ssc":9202,"f_p_r_m1_ssrp":0.48527333985436366,"f_p_r_m3_ssc":9085,"f_p_r_m3_ssrp":0.4062087186261559,"f_p_r_m6_ssc":8808,"f_p_r_m6_ssrp":0.4595208356988759,"f_p_r_y1_ssc":8330,"f_p_r_y1_ssrp":0.4375075039020291,"f_cagr_p_r_fs_ssc":9147,"f_cagr_p_r_fs_ssrp":0.12956483708725125,"f_p_r_y2_ssc":7721,"f_p_r_y2_ssrp":0.4398963730569948},"fp":{"stockId":3000000019600,"type":"fp","f_cagr_p_r_fs":0.18264506345674247,"f_p_r_d1":-0.0017172812725957387,"f_p_r_m1":0.08676579925650563,"f_p_r_m3":0.05165839269012218,"f_p_r_m6":0.08951997614788243,"f_p_r_fys":0.08903293100879117,"f_p_r_y1":0.3459484346224664,"last_data_date":"2026-05-06T16:00:00.000Z","f_p_r_y2":0.407510832932114},"ff":{"stockId":3000000019600,"type":"ff","f_m_f_r":0.012,"f_c_f_r":0.002,"f_m_a_c_f_r":0.014,"f_m_c_f_d":"2025-01-01T16:00:00.000Z","f_c_f":97786,"f_m_a_c_f":684502,"f_m_f":586716,"f_c_fr":0.002,"f_fr_d":"2025-12-30T16:00:00.000Z","f_m_fr":0.012,"f_mac_fr":0.014},"f_nlacan":{"stockId":3000000019600,"type":"f_nlacan","f_nv_d":"2026-05-06T16:00:00.000Z","f_nv":1.4617,"f_nv_cr":0.0020566257626652984},"f_as":{"stockId":3000000019600,"type":"f_as","f_tas":3684214.4388,"f_tas_d":"2026-03-30T16:00:00.000Z"}},"masterSlaveFunds":[{"_id":3000000019601,"name":"鹏华智投800混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","status":"normal","stockCode":"019601","tickerId":19601,"shortName":"鹏华智投800混合C","currency":"CNY","__csrcFundId":13495,"exchange":"jj","masterFundFlag":null,"indexFundFlag":null,"activeFundFlag":null,"etfFundFlag":null,"lofFundFlag":null,"pensionTargetFlag":null,"feederFundFlag":null,"classificationFlag":null,"closedEnd":null,"lastUpdated":"2025-01-04T00:32:27.086Z","inceptionDate":"2024-02-01T16:00:00.000Z","fundCollectionId":4000050060000,"pinyin":"phzt800hhxzqtzjj"}],"shareholdings":[{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":300750,"holdings":3500,"marketCap":1405950,"netValueRatio":0.0256,"quarterlyChange":0.09377552687469404,"stock":{"stockCode":"300750","exchange":"sz","stockType":"company","tickerId":300750,"name":"宁德时代"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":408,"holdings":10600,"marketCap":840262,"netValueRatio":0.0153,"quarterlyChange":-0.06078199052132749,"stock":{"stockCode":"000408","exchange":"sz","stockType":"company","tickerId":408,"name":"藏格矿业"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":2414,"holdings":65700,"marketCap":833733,"netValueRatio":0.0152,"quarterlyChange":-0.13496932515337412,"stock":{"stockCode":"002414","exchange":"sz","stockType":"company","tickerId":2414,"name":"高德红外"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":601998,"holdings":97600,"marketCap":810080,"netValueRatio":0.0147,"quarterlyChange":0.07792207792207839,"stock":{"stockCode":"601998","exchange":"sh","stockType":"company","tickerId":601998,"name":"中信银行"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":2415,"holdings":26300,"marketCap":800046,"netValueRatio":0.0146,"quarterlyChange":0.019436997319035143,"stock":{"stockCode":"002415","exchange":"sz","stockType":"company","tickerId":2415,"name":"海康威视"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":300433,"holdings":28300,"marketCap":791834,"netValueRatio":0.0144,"quarterlyChange":-0.0756524611826892,"stock":{"stockCode":"300433","exchange":"sz","stockType":"company","tickerId":300433,"name":"蓝思科技"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":601899,"holdings":23700,"marketCap":775464,"netValueRatio":0.0141,"quarterlyChange":-0.05076878445024502,"stock":{"stockCode":"601899","exchange":"sh","stockType":"company","tickerId":601899,"name":"紫金矿业"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":601138,"holdings":15000,"marketCap":771900,"netValueRatio":0.014,"quarterlyChange":-0.16619693163324978,"stock":{"stockCode":"601138","exchange":"sh","stockType":"company","tickerId":601138,"name":"工业富联"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":2142,"holdings":23800,"marketCap":724710,"netValueRatio":0.0132,"quarterlyChange":0.08401566393734461,"stock":{"stockCode":"002142","exchange":"sz","stockType":"company","tickerId":2142,"name":"宁波银行"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000019600,"stockId":338,"holdings":28500,"marketCap":690840,"netValueRatio":0.0126,"quarterlyChange":0.4093023255813959,"stock":{"stockCode":"000338","exchange":"sz","stockType":"company","tickerId":338,"name":"潍柴动力"}}],"lastFsMetrics":{"latestTurnoverRate":5.696890789908984,"latestTurnoverRateDate":"2025-12-30T16:00:00.000Z"}},"list":[{"_id":"69e7d58e6201787ae129f474","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","stockId":3000000019600,"sao":"报告期内，本基金在控制相对中证800指数跟踪误差的基础上，采用量化方法进行选股，力争在中证800指数收益率的基础上进行增强。量化选股模型侧重于不同预测收益来源、不同预测周期因子的动态配置，辅以稳健均衡的风格，平衡模型长期有效性和对短期市场环境波动的适应性，力争获取稳健的超额收益。  近年来，市场结构化行情加剧，这对管理人的选股能力和超额回撤控制能力提出了更高要求。我们的量化模型在基本面、量价、另类等因子上采用了相对均衡的配置以此应对各种行情，努力争取相对基准的超额收益。  展望未来，随着市场有效性不断提升，在策略竞争日趋激烈的情况下，尤其是市场成交活跃度不足时，模型的稳定性和适应性仍然可能遇到挑战，我们认为高质量、低相关性的alpha因子是模型保持生命力的核心因素，因此我们将持续挖掘新的alpha因子，对模型进行优化和迭代。","lastUpdated":"2026-04-21T19:52:46.883Z","fund":{"_id":3000000019600,"__csrcFundId":13495,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:25:53.961Z","status":"normal","exchange":"jj","shortName":"鹏华智投800混合(019600)","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","managers":[{"stockCode":"j101020057","stockType":"fund_manager","exchange":"fm","tickerId":192503246320,"name":"时赟超"}]},"announcement":{"linkText":"鹏华智投800混合型证券投资基金2026年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1472179","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69ca14140daeb17084fb2af4","date":"2025-12-30T16:00:00.000Z","declarationDate":"2026-03-29T16:00:00.000Z","stockId":3000000019600,"sao":"报告期内，本基金在控制相对中证800指数跟踪误差的基础上，采用量化方法进行选股，力争在中证800指数收益率的基础上进行增强。量化选股模型侧重于不同预测收益来源、不同预测周期因子的动态配置，辅以稳健均衡的风格，平衡模型长期有效性和对短期市场环境波动的适应性，力争获取稳健的超额收益。  近年来，市场结构化行情加剧，这对管理人的选股能力和超额回撤控制能力提出了更高要求。我们的量化模型在基本面、量价、另类等因子上采用了相对均衡的配置以此应对各种行情，努力争取相对基准的超额收益。  展望未来，随着市场有效性不断提升，在策略竞争日趋激烈的情况下，尤其是市场成交活跃度不足时，模型的稳定性和适应性仍然可能遇到挑战，我们认为高质量、低相关性的alpha因子是模型保持生命力的核心因素，因此我们将持续挖掘新的alpha因子，对模型进行优化和迭代。","lastUpdated":"2026-03-30T06:11:32.510Z","mo":"2025年，市场呈现“一波三折”的结构性行情。年初市场受国产AI热潮影响，叠加地方“两会”密集召开，开年短暂调整后逐步走强；年中虽受关税短暂扰动，消费复苏相对乏力，但在政策红利与产业利好集中释放下快速上涨；年末市场转入高位震荡格局，两融余额创历史新高，并在年内实现了较为可观的涨幅。全年风格呈现“成长与价值交替”，创业板指与小盘成长领涨，政策驱动与产业趋势共同主导结构性分化，大盘及消费板块相对落后。展望2026年，市场核心矛盾继续转向盈利驱动，政策加码与流动性充裕提供支撑。国内聚焦新质生产力落地，海外美联储降息预期趋向谨慎，科技制造与能源转型双线并行。资金层面中长期资金持续增配，推动风格从成长转向均衡，但需警惕地缘政治风险及政策效果滞后风险。短期关注受益于供需格局改善的部分周期板块，中期关注周期和科技板块。","fund":{"_id":3000000019600,"__csrcFundId":13495,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:25:53.961Z","status":"normal","exchange":"jj","shortName":"鹏华智投800混合(019600)","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","managers":[{"stockCode":"j101020057","stockType":"fund_manager","exchange":"fm","tickerId":192503246320,"name":"时赟超"}]},"announcement":{"linkText":"鹏华智投800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=1452951","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3177fea5b3eb0537b99","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-26T16:00:00.000Z","stockId":3000000019600,"sao":"报告期内，本基金在控制相对中证800指数跟踪误差的基础上，采用量化方法进行选股，力争在中证800指数收益率的基础上进行增强。量化选股模型侧重于不同预测收益来源、不同预测周期因子的动态配置，辅以稳健均衡的风格，平衡模型长期有效性和对短期市场环境波动的适应性，力争获取稳健的超额收益。  我们的量化模型在基本面、量价、另类等因子上采用了相对均衡的配置以此应对各种行情，努力争取相对基准的超额收益。  展望未来，随着市场有效性不断提升，在策略竞争日趋激烈的情况下，尤其是重大突发风险事件影响或者市场成交活跃度不足时，模型的稳定性和适应性仍然可能遇到挑战，我们认为高质量、低相关性的alpha因子是模型保持生命力的核心因素，因此我们将持续挖掘新的alpha因子，对模型进行优化和迭代。","lastUpdated":"2026-03-09T14:03:03.232Z","fund":{"_id":3000000019600,"__csrcFundId":13495,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:25:53.961Z","status":"normal","exchange":"jj","shortName":"鹏华智投800混合(019600)","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","managers":[{"stockCode":"j101020057","stockType":"fund_manager","exchange":"fm","tickerId":192503246320,"name":"时赟超"}]},"announcement":{"linkText":"鹏华智投800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=1372501","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3177fea5b3eb0537b98","date":"2025-06-29T16:00:00.000Z","stockId":3000000019600,"sao":"报告期内，本基金在控制相对中证800指数跟踪误差的基础上，采用量化方法进行选股，力争在中证800指数收益率的基础上进行增强。量化选股模型侧重于不同预测收益来源、不同预测周期因子的动态配置，辅以稳健均衡的风格，平衡模型长期有效性和对短期市场环境波动的适应性，力争获取稳健的超额收益。  我们的量化模型在基本面、量价、另类等因子上采用了相对均衡的配置以此应对各种行情，努力争取相对基准的超额收益。  展望未来，随着市场有效性不断提升，在策略竞争日趋激烈的情况下，尤其是重大突发风险事件影响或者市场成交活跃度不足时，模型的稳定性和适应性仍然可能遇到挑战，我们认为高质量、低相关性的alpha因子是模型保持生命力的核心因素，因此我们将持续挖掘新的alpha因子，对模型进行优化和迭代。","declarationDate":"2025-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T14:03:03.229Z","mo":"2025年上半年，市场整体呈现震荡上行，市场风格显著分化。年初科技主题热度延续，AI及人形机器人产业链活跃，推动市场全面走高；3月中旬后因产业趋势催化减弱叠加海外关税扰动升级，市场风险偏好承压，指数转入高位震荡。4月“对等关税”落地引发剧烈调整，但伴随增量政策持续发力，推动市场快速修复，主要指数逐步回升并创年内新高。展望未来，2025年下半年，市场有望由前期政策驱动阶段逐步过渡至企业盈利改善与产业趋势深化主导阶段。企业端关注内需、库存与利润率等基本面因素，政策端关注“十五五”规划编制、反内卷及产业目录落地情况，关注政策与产业逻辑共振的方向。海外关注美联储降息预期逐步兑现。资金层面，私募、ETF等资金活跃度继续提升，中长期资金入市继续加速，机构投资者占比进一步提升，外资在政策与盈利双线驱动下亦有望回流，有利于市场风险偏好进一步修复，但需警惕美国关税政策变动及其他地缘政治风险对市场情绪产生负面影响。投资策略上，短期关注政策和产业逻辑共振带来的结构性机会，把握行业轮动，长期聚焦核心资产与价值投资。整体来看，随着经济基本面夯实和政策红利持续释放，市场有望延续震荡上行趋势，长线资金配置价值逐步显现。","fund":{"_id":3000000019600,"__csrcFundId":13495,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:25:53.961Z","status":"normal","exchange":"jj","shortName":"鹏华智投800混合(019600)","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","managers":[{"stockCode":"j101020057","stockType":"fund_manager","exchange":"fm","tickerId":192503246320,"name":"时赟超"}]},"announcement":{"linkText":"鹏华智投800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=1339893","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3177fea5b3eb0537b97","date":"2025-03-30T16:00:00.000Z","stockId":3000000019600,"sao":"报告期内，本基金在控制相对中证800指数跟踪误差的基础上，采用量化方法进行选股，力争在中证800指数收益率的基础上进行增强。量化选股模型侧重于不同预测收益来源、不同预测周期因子的动态配置，辅以稳健均衡的风格，平衡模型长期有效性和对短期市场环境波动的适应性，力争获取稳健的超额收益。  我们的量化模型在基本面、量价、另类等因子上采用了相对均衡的配置以此应对各种行情，努力争取相对基准的超额收益。  展望未来，随着市场有效性不断提升，在策略竞争日趋激烈的情况下，尤其是重大突发风险事件影响或者市场成交活跃度不足时，模型的稳定性和适应性仍然可能遇到挑战，我们认为高质量、低相关性的alpha因子是模型保持生命力的核心因素，因此我们将持续挖掘新的alpha因子，对模型进行优化和迭代。","declarationDate":"2025-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:03:03.227Z","fund":{"_id":3000000019600,"__csrcFundId":13495,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:25:53.961Z","status":"normal","exchange":"jj","shortName":"鹏华智投800混合(019600)","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","managers":[{"stockCode":"j101020057","stockType":"fund_manager","exchange":"fm","tickerId":192503246320,"name":"时赟超"}]},"announcement":{"linkText":"鹏华智投800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=1269547","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3177fea5b3eb0537b96","date":"2024-12-30T16:00:00.000Z","stockId":3000000019600,"sao":"报告期内，本基金在控制相对中证800指数跟踪误差的基础上，采用量化方法进行选股，力争在中证800指数收益率的基础上进行增强。量化选股模型侧重于不同预测收益来源、不同预测周期因子的动态配置，辅以稳健均衡的风格，平衡模型长期有效性和对短期市场环境波动的适应性，力争获取稳健的超额收益。  2024年市场行情波动较大，无论是年初小盘股杀跌导致的市场恐慌，还是三季度末政策催化下的底部快速反转，都对管理人的选股能力和回撤控制能力带来了极大的挑战。我们的量化模型在基本面、量价、另类等因子上采用了相对均衡的配置以此应对各种行情，努力争取相对基准的超额收益。  展望未来，随着市场有效性不断提升，在策略竞争日趋激烈的情况下，尤其是市场成交活跃度不足时，模型的稳定性和适应性仍然可能遇到挑战，我们认为高质量、低相关性的alpha因子是模型保持生命力的核心因素，因此我们将持续挖掘新的alpha因子，对模型进行优化和迭代。","declarationDate":"2025-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:03:03.224Z","mo":"展望未来，2025年中国股市的核心矛盾将逐步转向盈利驱动。随着国内经济结构的持续优化和政策的加码，市场将获得更多的支撑。行业层面，聚焦新质生产力落地，这将为相关行业带来新的增长点，科技制造与能源转型将成为双线并行的主要驱动力。资金层面，中长期资金的入场速度将加快，随着养老金、保险资金等中长期资金占比的提升，机构投资者的比率将进一步增强。这将有助于降低市场的波动率，提升市场的稳定性。然而，市场仍需警惕政策效果滞后及中美博弈升温等内外部风险。政策效果的滞后可能导致市场预期与实际经济表现出现偏差，而中美博弈的升温则可能对市场情绪产生负面影响。在投资策略上，短期应把握高股息和成长股的轮动节奏。高股息股票在利率下行环境中具有较高的吸引力，而成长股则受益于科技和能源转型的长期趋势。长期来看，投资者应聚焦价值投资，选择那些具有持续盈利能力和良好治理结构的公司，以应对市场的不确定性和波动。总体而言，2025年的中国股市将面临新的挑战和机遇，把握政策导向的同时紧跟行业趋势，以应对复杂多变的市场环境。","fund":{"_id":3000000019600,"__csrcFundId":13495,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:25:53.961Z","status":"normal","exchange":"jj","shortName":"鹏华智投800混合(019600)","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","managers":[{"stockCode":"j101020057","stockType":"fund_manager","exchange":"fm","tickerId":192503246320,"name":"时赟超"}]},"announcement":{"linkText":"鹏华智投800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=1249605","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3177fea5b3eb0537b95","date":"2024-09-29T16:00:00.000Z","stockId":3000000019600,"sao":"报告期内，本基金在控制相对中证800指数跟踪误差的基础上，采用量化方法进行选股，力争在中证800指数收益率的基础上进行增强。量化选股模型侧重于不同预测收益来源、不同预测周期因子的动态配置，辅以稳健均衡的风格，平衡模型长期有效性和对短期市场环境波动的适应性，力争获取稳健的超额收益。  前三季度从因子表现来看，基本面因子有效性较高，量价因子有效性减弱且波动加大，这与去年的情况形成了鲜明对比，一些以量价因子为主的模型波动加大，我们的量化模型在基本面、量价、另类等因子上采用了相对均衡的配置，努力争取相对基准的超额收益。三季度末，在政策预期的催化下市场走出了指数普涨的大幅反转的行情，增量资金借道指数产品跑步入场，市场波动率迅速拉升，在这个过程中模型的超额收益出现了一定的回撤，从历史上看，类似的情况在2014年末也曾经出现过，我们预计未来一段时间市场波动率将均值回归，模型的超额收益也将逐步得到修复。  展望未来，随着市场有效性不断提升，在策略竞争日趋激烈的情况下，尤其是市场成交活跃度不足时，模型的稳定性和适应性仍然可能遇到挑战，我们认为高质量、低相关性的alpha因子是模型保持生命力的核心因素，因此我们将持续挖掘新的alpha因子，对模型进行优化和迭代。","declarationDate":"2024-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T14:03:03.221Z","fund":{"_id":3000000019600,"__csrcFundId":13495,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:25:53.961Z","status":"normal","exchange":"jj","shortName":"鹏华智投800混合(019600)","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","managers":[{"stockCode":"j101020057","stockType":"fund_manager","exchange":"fm","tickerId":192503246320,"name":"时赟超"}]},"announcement":{"linkText":"鹏华智投800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=1171793","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3177fea5b3eb0537b94","date":"2024-06-29T16:00:00.000Z","stockId":3000000019600,"sao":"报告期内，本基金在控制相对中证800指数跟踪误差的基础上，采用量化方法进行选股，力争在中证800指数收益率的基础上进行增强。量化选股模型侧重于不同预测收益来源、不同预测周期因子的动态配置，辅以稳健均衡的风格，平衡模型长期有效性和对短期市场环境波动的适应性，力争获取稳健的超额收益。  上半年从因子表现来看，基本面因子有效性较高，量价因子有效性减弱且波动加大，这与2023年上半年的情况形成了鲜明对比，一些以量价因子为主的模型波动加大，我们的量化模型在基本面、量价、另类等因子上采用了相对均衡的配置，尽管一季度市值、流动性、波动率等风格因子出现了超过历史均值10倍标准差的巨幅波动，但对组合超额收益的影响相对可控。展望下半年，随着市场有效性不断提升，在策略竞争日趋激烈的情况下，尤其是市场成交活跃度不足时，模型的稳定性和适应性仍然可能遇到挑战，我们认为高质量、低相关性的alpha因子是模型保持生命力的核心因素，因此我们将持续挖掘新的alpha因子，对模型进行优化和迭代。  目前中证800指数从PE和PB估值均位于历史均值之下1倍标准差附近，股息率显著高于10年期国债收益率水平，显示出较高的投资性价比，因此我们会将组合仓位维持较高水平，以应对未来潜在的估值修复行情。","declarationDate":"2024-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T14:03:03.218Z","mo":"上半年，市场在多重因素冲击和影响下呈现大幅波动。在年初流动性冲击后，随着流动性的持续注入、国内经济超预期复苏和海外资金仓位回补，市场迎来大幅反弹，但在5月以后随着经济复苏再度出现波折、海外扰动因素增加，投资者快速下修盈利预期、也降低了风险偏好，海外市场和国内债市的强势表现也吸引资金从A股流出，仅6月北上资金净流出就超过440亿元，对A股形成一定压制。从风格角度来看，具有长期配置价值和防御属性、并且债性突出的红利类资产和大盘价值股受到投资者青睐，成为上半年增量资金流入的主要方向。展望未来，市场有望在预期边际好转和资金格局改善推动下，走出震荡修复行情。未来一段时间存在诸多潜在的预期差，当前已经对风险因素进行较为充分的定价，成交量也伴随着投资者情绪不断回落，市场对政策预期也不断调降，但随着国内经济和海外地缘政治的新变化，国内支持性政策有望加速落地，海外美联储降息也可能在年内开启。在资金层面上，外资大幅流出的压力得以较大程度释放，配置型资金减配权益超配债券的趋势有望因债市波动加大而有所逆转，以大型专业机构投资者为代表的长期资金、“耐心资本”正在不断加大对A股的投资力度，有望扭转资金面偏弱的格局，推动市场逐步修复。","fund":{"_id":3000000019600,"__csrcFundId":13495,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:25:53.961Z","status":"normal","exchange":"jj","shortName":"鹏华智投800混合(019600)","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","managers":[{"stockCode":"j101020057","stockType":"fund_manager","exchange":"fm","tickerId":192503246320,"name":"时赟超"}]},"announcement":{"linkText":"鹏华智投800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=1143471","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3177fea5b3eb0537b93","date":"2024-03-30T16:00:00.000Z","stockId":3000000019600,"sao":"报告期内，本基金处于建仓期，根据对于市场走势的研判，稳步提高股票仓位。建仓完成后，本基金将在控制相对中证800指数跟踪误差的基础上，采用量化方法进行选股，力争在中证800指数收益率的基础上进行增强。量化选股模型立足于上市公司的基本面信息，侧重于长期表现有效的因子类别，同时结合短期市场情绪、动量等因子，从而将模型的短期与长期有效性进行平衡与提高。","declarationDate":"2024-04-18T16:00:00.000Z","lastUpdated":"2026-03-09T14:03:03.215Z","fund":{"_id":3000000019600,"__csrcFundId":13495,"stockCode":"019600","masterFundShortName":"鹏华智投800混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19600,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:25:53.961Z","status":"normal","exchange":"jj","shortName":"鹏华智投800混合(019600)","name":"鹏华智投800混合型证券投资基金","fundCollectionId":4000050060000,"inceptionDate":"2024-02-01T16:00:00.000Z","setUpAssetScale":43331380.25,"setUpDate":"2024-01-25T16:00:00.000Z","setUpShares":43331380.25,"pinyin":"phzt800hhxzqtzjj","managers":[{"stockCode":"j101020057","stockType":"fund_manager","exchange":"fm","tickerId":192503246320,"name":"时赟超"}]},"announcement":{"linkText":"鹏华智投800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=1069060","linkType":"PDF","source":"csrc_pdf"}}]}