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“国家队”入市等多重利好共促，市场全面反弹。3月以来，随着中央经济工作会议的召开，尽管经济总量层面并未有超预期的指引，但结构政策上新质生产力、设备更新、低空经济等行业振兴政策不断，市场结构性机会明显。　　在没有明显行业利润驱动趋势下，当前市场风格结构更偏向于行业政策驱动或者海外产业的映射。鑫享整体维持适中的权益仓位，权益基金配置整体偏向于均衡。","declarationDate":"2024-04-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:22.607Z","fund":{"_id":3000000017325,"__csrcFundId":12222,"stockCode":"017325","shortName":"农银鑫享稳健养老一年持有混合（FOF）(017325)","masterFundShortName":"农银鑫享稳健养老一年持有混合（FOF）","fundSecondLevel":"fof","stockType":"fund","areaCode":"cn","market":"a","tickerId":17325,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-07-01T01:17:28.353Z","status":"normal","exchange":"jj","name":"农银汇理鑫享稳健养老目标一年持有期混合型基金中基金（FOF)","inceptionDate":"2023-02-08T16:00:00.000Z","setUpDate":"2023-02-08T16:00:00.000Z","setUpAssetScale":237082307.63,"setUpShares":237082307.63,"pinyin":"nyhlxxwjylmbyncyqhhxjjzjj(fof)","followedNum":1,"pensionTargetFlag":1,"managers":[{"stockCode":"j101019656","stockType":"fund_manager","exchange":"fm","tickerId":261311244070,"name":"张梦珂"}]},"announcement":{"linkText":"农银汇理鑫享稳健养老目标一年持有期混合型基金中基金（FOF)2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1064709","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed23a7fea5b3eb052a9b8","date":"2023-12-30T16:00:00.000Z","stockId":3000000017325,"sao":"2023年权益市场依旧布满荆棘。年初期待的经济复苏并没有出现。相反，宏观经济的疲软，叠加美联储超预期的货币政策收紧，权益市场收益率不尽如人意。　　2023年以结构性行情为主，成长性上，上半年是美国科技创新映射，下半年是华为国产替代，全年为科技强势、获得绝对收益。蓝筹方面，高股息相对抗跌，全面保持相对好的稳定收益。　　市场结构方面，缺乏增量资金，市场以存量资金博弈为主。机构重仓，尤其是外资重仓的行业下跌幅度较大，机构持有较少的微盘股表现较好。","declarationDate":"2024-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:22.604Z","mo":"2024年压制股票市场的宏观因素将会出现逆转。诸如美联储加息将转向降息，中国刺激政策的利多逐步积累，A股估值处在底部。我们对当前的市场充满乐观，2024年可能是股市新一轮上涨的元年。对于利率市场，我们认为2024年的上半年依旧充满机会，但2024年下半年，市场可能转向谨慎。　　2024年的行业配置将重回利润驱动。资产配置风险敞口可以偏向于有超额收益的行业。诸如供求关系大幅改善的资源品，受益于美联储降息的黄金，创新驱动的科技以及估值处在历史底部的医药等。　　在资产配置在行业及基金风格选择上，FOF鑫享将回归养老属性，在配置上降低单一行业风格暴露，资金选择上更偏重于选择稳健与回撤较小的优秀全市场基金。","fund":{"_id":3000000017325,"__csrcFundId":12222,"stockCode":"017325","shortName":"农银鑫享稳健养老一年持有混合（FOF）(017325)","masterFundShortName":"农银鑫享稳健养老一年持有混合（FOF）","fundSecondLevel":"fof","stockType":"fund","areaCode":"cn","market":"a","tickerId":17325,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-07-01T01:17:28.353Z","status":"normal","exchange":"jj","name":"农银汇理鑫享稳健养老目标一年持有期混合型基金中基金（FOF)","inceptionDate":"2023-02-08T16:00:00.000Z","setUpDate":"2023-02-08T16:00:00.000Z","setUpAssetScale":237082307.63,"setUpShares":237082307.63,"pinyin":"nyhlxxwjylmbyncyqhhxjjzjj(fof)","followedNum":1,"pensionTargetFlag":1,"managers":[{"stockCode":"j101019656","stockType":"fund_manager","exchange":"fm","tickerId":261311244070,"name":"张梦珂"}]},"announcement":{"linkText":"农银汇理鑫享稳健养老目标一年持有期混合型基金中基金（FOF)2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1050980","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed23a7fea5b3eb052a9b7","date":"2023-09-29T16:00:00.000Z","stockId":3000000017325,"sao":"今年以来中国经济走势疲弱，主要是由于内需不佳，因此也导致了消费降级的出现。近期政策调整的主要方向是提振消费者信心，针对年初以来的问题进行针对性的解决。房地产政策的放松明显提振了短期的销售热情，我们认为接下来经济将出现逐步复苏。考虑盈利预期以及流动性等方面的因素，我们认为当前市场已经处于预期的低点，在经历了前期下跌之后，当前市场处于“弱现实、强情绪”的状态，接下来市场情绪有望逐步走向乐观。随着地产政策、金融政策逐渐发力，经济企稳回升是大概率事件。　　尽管当前经济底还没出现，但根据历史上“政策底——市场底——经济底”的传递过程，我们认为市场底将会领先经济底到来。因此当前市场环境下适宜看多A股市场。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:22.601Z","fund":{"_id":3000000017325,"__csrcFundId":12222,"stockCode":"017325","shortName":"农银鑫享稳健养老一年持有混合（FOF）(017325)","masterFundShortName":"农银鑫享稳健养老一年持有混合（FOF）","fundSecondLevel":"fof","stockType":"fund","areaCode":"cn","market":"a","tickerId":17325,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-07-01T01:17:28.353Z","status":"normal","exchange":"jj","name":"农银汇理鑫享稳健养老目标一年持有期混合型基金中基金（FOF)","inceptionDate":"2023-02-08T16:00:00.000Z","setUpDate":"2023-02-08T16:00:00.000Z","setUpAssetScale":237082307.63,"setUpShares":237082307.63,"pinyin":"nyhlxxwjylmbyncyqhhxjjzjj(fof)","followedNum":1,"pensionTargetFlag":1,"managers":[{"stockCode":"j101019656","stockType":"fund_manager","exchange":"fm","tickerId":261311244070,"name":"张梦珂"}]},"announcement":{"linkText":"农银汇理鑫享稳健养老目标一年持有期混合型基金中基金（FOF)2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=991622","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed23a7fea5b3eb052a9b6","date":"2023-06-29T16:00:00.000Z","stockId":3000000017325,"sao":"上半年本基金的运作思路是从资产配置出发，优选基金组合。上半年资产配置的方向一直是看多股票资产，在组合配置上超配股票类资产。从上半年的运行结果看，由于经济数据较为疲弱，股票资产表现一般，市场做多的热情并不高涨。我们认为目前是市场的底部。每一轮货币引用周期均呈现出“政策底——信用底——市场底——经济底”的演变过程。其内在逻辑在于，“稳增长”初期，市场对政策力度存在明显分歧，但随着政策不断加强和流动性环境改善，市场对经济前景的预期逐渐明朗化，股价领先于经济出现向上拐点；政策底的出现成为市场预期改善的重要信号。","declarationDate":"2023-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:59:22.598Z","mo":"目前我们维持对股票市场看好的观点。第一，政策拐点已明确，政治局会议全面回应市场关切，提振市场信心，预计优化地产政策、活跃资本市场、一揽子化债方案措施将逐步落地。第二，基本面拐点也将明确，经济运行已处于年内底部，将随着库存去化和政策发力逐步改善，A股盈利周期的底部特征较明显，预计盈利增速将在下半年修复。第三，市场流动性拐点也将明确，人民币汇率拐点已清晰，国内货币政策8月仍有降准可能同时近期A股关注度提升，活跃资金明显回流，将带动增量资金入场。第四，市场情绪也将迎来拐点。四大拐点共振下，A股有望开启做多窗口。行业配置上，我们主要关注中特估与科技AI这两个方向。","fund":{"_id":3000000017325,"__csrcFundId":12222,"stockCode":"017325","shortName":"农银鑫享稳健养老一年持有混合（FOF）(017325)","masterFundShortName":"农银鑫享稳健养老一年持有混合（FOF）","fundSecondLevel":"fof","stockType":"fund","areaCode":"cn","market":"a","tickerId":17325,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-07-01T01:17:28.353Z","status":"normal","exchange":"jj","name":"农银汇理鑫享稳健养老目标一年持有期混合型基金中基金（FOF)","inceptionDate":"2023-02-08T16:00:00.000Z","setUpDate":"2023-02-08T16:00:00.000Z","setUpAssetScale":237082307.63,"setUpShares":237082307.63,"pinyin":"nyhlxxwjylmbyncyqhhxjjzjj(fof)","followedNum":1,"pensionTargetFlag":1,"managers":[{"stockCode":"j101019656","stockType":"fund_manager","exchange":"fm","tickerId":261311244070,"name":"张梦珂"}]},"announcement":{"linkText":"农银汇理鑫享稳健养老目标一年持有期混合型基金中基金（FOF)2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=952298","linkType":"PDF","source":"csrc_pdf"}}]}