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“新国九条”等政策的实施，以险资、养老金为主的中长期资金为市场的主要增量资金。预计在政策效果的持续推动下，下半年上述中长期资金仍有望进一步加大权益资产的配置力度。另一方面，随着政策的落地，下半年有望促进消费端持续改善。制造业投资有望持续提升，基础设施投资具备韧性，房地产开发投资下行增速或继续收窄。总体上，市场有望随着政策预期的落地震荡上行。　　展望下半年，经过二季度的调整，市场再度进入底部区间，宏观政策的发力以及落地情况仍然是下半年关注的核心。因此，结合本基金的情况，下半年的配置仍然会以顺周期相关的资产作为底仓配置。其次，围绕“新质生产力”和“以旧换新”政策，布局具备国产替代能力的相关方向。","fund":{"_id":3000000019765,"__csrcFundId":13195,"stockCode":"019765","masterFundShortName":"国寿安保优选国企股票发起式","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":19765,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:29:50.566Z","status":"normal","exchange":"jj","shortName":"国寿安保优选国企股票发起式(019765)","fundCollectionId":4000050900000,"setUpAssetScale":10000996.02,"setUpDate":"2023-12-28T16:00:00.000Z","setUpShares":10000996.02,"inceptionDate":"2023-10-26T16:00:00.000Z","name":"国寿安保优选国企股票型发起式证券投资基金","pinyin":"gsabyxgqgpxfqszqtzjj","followedNum":1,"managers":[{"stockCode":"db20918672","stockType":"fund_manager","exchange":"fm","tickerId":2406237650,"name":"谢夫"}]},"announcement":{"linkText":"国寿安保优选国企股票型发起式证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1151686","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3227fea5b3eb0538699","date":"2024-03-30T16:00:00.000Z","stockId":3000000019765,"sao":"一季度以来，市场先抑后扬，行业上轮动较快，银行、煤炭等在高股息逻辑上相对收益比较明显。此外，黄金、石油、铜、铝等有色行业个股在价格上涨的催化下表现较好。报告期内，产品底仓仍然以顺周期为底仓，因为配置了部分高股息行业整体回撤相对较好。此外配置了以国产算力、AI、汽车等行业整体相对收益较好。　　后续整体配置仍然会维持以顺周期为底仓，主要源于从数据来看，开年经济数据韧性较强，宏观数据和微观仍然有预期差。同时，从估值来看整体仍然处于较低水平，下行风险有限。其它仓位仍会寻找市场新的方向，主要关注设备更新、新质生产力等。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:03:14.890Z","fund":{"_id":3000000019765,"__csrcFundId":13195,"stockCode":"019765","masterFundShortName":"国寿安保优选国企股票发起式","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":19765,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:29:50.566Z","status":"normal","exchange":"jj","shortName":"国寿安保优选国企股票发起式(019765)","fundCollectionId":4000050900000,"setUpAssetScale":10000996.02,"setUpDate":"2023-12-28T16:00:00.000Z","setUpShares":10000996.02,"inceptionDate":"2023-10-26T16:00:00.000Z","name":"国寿安保优选国企股票型发起式证券投资基金","pinyin":"gsabyxgqgpxfqszqtzjj","followedNum":1,"managers":[{"stockCode":"db20918672","stockType":"fund_manager","exchange":"fm","tickerId":2406237650,"name":"谢夫"}]},"announcement":{"linkText":"国寿安保优选国企股票型发起式证券投资基金2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1075738","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3227fea5b3eb0538698","date":"2023-12-30T16:00:00.000Z","stockId":3000000019765,"sao":"2023年国内经济有望温和复苏，目前经济的核心在地产，房地产板块已经处于超调状态，四季度以来政策持续发力，PSL重启，城中村政策逐步落地，预计后续三大工程相关政策仍有预期。其他投资来看，2023年三、四季度政府债券和一万亿特别国债密集发行，预计对2024年一季度基建投资形成较强支持。流动性来看，预计市场会保持合理充裕，预计社会融资规模、货币供应量同经济增长和价格水平预期目标会保持匹配。因此，本基金成立以来，配置方向主要以顺周期为主要核心配置方向。整体来看，经过四季度的调整，整体相关板块估值处理历史比较地的水平，向下风险有限。","declarationDate":"2024-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T14:03:14.888Z","mo":"后续配置来看，当前A股经过调整，短期视角来看，无论是从交易层面还是政策角度来看，顺周期方向可能是后续市场反弹主力之一。因此，后续配置会仍然把顺周期作为核心底层配置。其次，受益于政策定位，中央工作经济会议提出的2024年九项重点工作中，“现代化产业体系建设”放在首位，数字经济、人工智能等方向重要性提升。同时，近期国家数据局印发“数据要素X\"三年行动计划，数据要素再迎顶层设计政策。因此，成长方向的配置主要以数据要素、人工只能和核心产业国产替代为主。与此同时，市值考核的加入负责人考核预计对整体国企相关个股经营层面上带来明显的变化。　　总结来看，后续的配置主要围绕三个方面，一是经济增长，主要配置顺周期相关板块；二是产业升级，围绕“现代化产业体系建设”相关板块，寻找国企在上下游产业链的主导企业；三是科技创新，围绕数据要素，核心材料等。","fund":{"_id":3000000019765,"__csrcFundId":13195,"stockCode":"019765","masterFundShortName":"国寿安保优选国企股票发起式","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":19765,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:29:50.566Z","status":"normal","exchange":"jj","shortName":"国寿安保优选国企股票发起式(019765)","fundCollectionId":4000050900000,"setUpAssetScale":10000996.02,"setUpDate":"2023-12-28T16:00:00.000Z","setUpShares":10000996.02,"inceptionDate":"2023-10-26T16:00:00.000Z","name":"国寿安保优选国企股票型发起式证券投资基金","pinyin":"gsabyxgqgpxfqszqtzjj","followedNum":1,"managers":[{"stockCode":"db20918672","stockType":"fund_manager","exchange":"fm","tickerId":2406237650,"name":"谢夫"}]},"announcement":{"linkText":"国寿安保优选国企股票型发起式证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1059802","linkType":"PDF","source":"csrc_pdf"}}]}