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:"PDF","source":"csrc_pdf"}},{"_id":"69aed3657fea5b3eb053c715","date":"2024-09-29T16:00:00.000Z","stockId":3000000020655,"sao":"三季度经济基本面延续弱复苏，金融数据“挤水分”进一步走弱，价格数据略低于预期、通缩压力有所提升。央行实施了两次降息、一次降准，银行间流动性整体平稳，同时也多次指出长债有调整风险，并在二级市场开始实施国债买卖操作，债市在7-9月中旬总体震荡走强，10年国债最低达到2.0%。9月末央行抛出新工具支持股市，市场风险情绪短期逆转，债券市场特别是信用债快速下跌。　　报告期内，本基金配置利率债，在7月保持了偏高的杠杆和久期，8-9月采取低杠杆灵活久期的交易策略，三季度整体取得了稳定的票息收入和较好的资本利得。未来，本基金将继续秉承稳健专业的投资理念，谨慎操作、严格风控，力争为基金份额持有人带来长期稳定回报。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T14:04:21.919Z","fund":{"_id":3000000020655,"__csrcFundId":13598,"stockCode":"020655","masterFundShortName":"浦银安盛普安利率债债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":20655,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:53:03.518Z","status":"normal","exchange":"jj","shortName":"浦银安盛普安利率债债券(020655)","name":"浦银安盛普安利率债债券型证券投资基金","fundCollectionId":4000050590000,"setUpAssetScale":7990003136.39,"setUpDate":"2024-02-05T16:00:00.000Z","setUpShares":7990003136.39,"inceptionDate":"2024-02-07T16:00:00.000Z","pinyin":"pyaspallzzqxzqtzjj","managers":[{"stockCode":"8801465456","stockType":"fund_manager","exchange":"fm","tickerId":262406171260,"name":"章潇枫"}]},"announcement":{"linkText":"浦银安盛普安利率债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=1177960","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3657fea5b3eb053c714","date":"2024-06-29T16:00:00.000Z","stockId":3000000020655,"sao":"一季度，经济基本面平稳复苏，居民消费复苏势头良好。外需带动进出口超预期改善，基建投资保持克制，二手房成交放量但新房销售尚未企稳。货币政策方面，一季度实施降准0.5个百分点，银行间市场流动性在整个一季度价稳量松。今年信贷在一季度的投放更加重视质效和可持续性。债券市场在流动性宽松和资产比价效应的推动下明显上涨，长端利率大幅下行，短端利率受资金成本约束下行相对较少，曲线趋平。　　二季度，消费平稳增长，固定资产投资增速小幅回落，外需有所放缓导致进出口增速小幅回落。总体经济复苏的斜率有所趋缓。二季度存款自律机制启动打击手工补息等高息揽存模式，金融加速挤水分，社融、M1等受此影响明显下滑，金融数据对经济的指针作用开始弱化。经济的主要亮点仍在高质量增长和新质生产力投资方面，社会资本对安全性资产的追逐升温。高股息股票、贵金属和长期国债获得超配，债券市场走出较为顺畅的上涨行情。但随着长期国债利率创出历史新低，人民银行多次提示长债有调整风险，利率下行趋势转为震荡。　　上半年，本基金配置利率债，在1至5月保持了偏进攻的杠杆和久期，6月央行反复提示风险后降低组合风险敞口至中性偏防御，整体取得了稳定的票息收入和较好的资本利得。未来，本基金将继续秉承稳健专业的投资理念，谨慎操作、严格风控，力争为基金份额持有人带来长期稳定回报。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T14:04:21.915Z","mo":"展望 2024 下半年，货币政策在二季度保持克制后，下半年降准降息和降低存款利率方面仍有空间。但考虑到债券利率水平已经基本定价了政策利率下调，宽松政策若实质落地对债券市场的影响更多是趋势确认作用。经济基本面方面，中央经济会议要求全年完成经济增长目标5%，总量压力不大，主线还是“提质增效”高质量发展，具体来看：出口上半年表现亮眼但有部分是受制裁影响提前透支，下半年持续性存疑；消费受财富效应影响延续慢复苏节奏；地产仍在底部震荡，主要变数在于财政是否会加力。在经济“固本培元”不搞大规模刺激的前提下，受价格因素影响，债券市场的胜率仍在；另一方面，考虑利率水平整体处于历史最低位置，相对银行间资金利率水平，各期限债券资产的利差水平均无足够息差保护，债券市场的赔率并不高，收益来源更多依赖价差收入。　　整体来看，下半年特别是三季度，债券市场呈现偏强震荡的概率较大。主要风险在于市场自发集中止盈或者央行出手维护向上利率曲线。","fund":{"_id":3000000020655,"__csrcFundId":13598,"stockCode":"020655","masterFundShortName":"浦银安盛普安利率债债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":20655,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:53:03.518Z","status":"normal","exchange":"jj","shortName":"浦银安盛普安利率债债券(020655)","name":"浦银安盛普安利率债债券型证券投资基金","fundCollectionId":4000050590000,"setUpAssetScale":7990003136.39,"setUpDate":"2024-02-05T16:00:00.000Z","setUpShares":7990003136.39,"inceptionDate":"2024-02-07T16:00:00.000Z","pinyin":"pyaspallzzqxzqtzjj","managers":[{"stockCode":"8801465456","stockType":"fund_manager","exchange":"fm","tickerId":262406171260,"name":"章潇枫"}]},"announcement":{"linkText":"浦银安盛普安利率债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=1154159","linkType":"PDF","source":"csrc_pdf"}}]}