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及估值合理的个股进行投资。未来产品将在新消费、新经济领域持续发掘投资机遇，寻找中国经济发展下的红利，坚持长期价值投资，努力为基金持有人创造价值。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:20.057Z","mo":"2024年4季度，在消费补贴、存量房贷降息等多项政策保障下，消费整体情况出现了明显好转，特别是家电为代表的耐用消费品。消费补贴政策在2025年不仅得到延续，而且已经开始明显扩圈，更多的消费品纳入到补贴范围，预计对2025年居民消费的恢复起到很好的保障作用。我们认为市场已经进入了比较好的投资阶段----股票估值和行业景气度都处在较低位置，基本面选股逐渐有效。我们的投资延续一直以来的思路，主要布局在以下行业：消费方向，我们看好转型做性价比的消费公司、消费出海和银发经济等。消费是经济后周期，短期需求仍面临压力，寻找成长方向并不容易，我们认为抓住消费转型的公司才具有长期成长空间，包括转型做性价比、提供功能化产品和消费出海等。消费的增量需求方向，我们主要关注银发经济和服务消费，看好OTA和航空。另外，我们看好较低估值的港股市场，预计会有较好的表现。","fund":{"_id":3000000021631,"__csrcFundId":14084,"stockCode":"021631","masterFundShortName":"兴银聚优智选混合发起","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":21631,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"兴银聚优智选混合发起(021631)","lastUpdated":"2026-05-01T03:15:49.054Z","name":"兴银聚优智选混合型发起式证券投资基金","pinyin":"xyjyzxhhxfqszqtzjj","fundCollectionId":4000050890000,"setUpAssetScale":10001333.47,"setUpDate":"2024-06-16T16:00:00.000Z","setUpShares":10001333.47,"inceptionDate":"2024-06-20T16:00:00.000Z","followedNum":1,"managers":[{"stockCode":"db20920825","stockType":"fund_manager","exchange":"fm","tickerId":170807234560,"name":"乔华国"}]},"announcement":{"linkText":"兴银聚优智选混合型发起式证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1251338","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3a07fea5b3eb053fafe","date":"2024-09-29T16:00:00.000Z","stockId":3000000021631,"sao":"2024年5月以来，宏观经济数据和内需消费数据持续转差，资本市场持续回落，本产品抓住机会逐步建仓。随着9月24日央行、金融监管总局、证监会联合发布会和9月26日中央政治局会议的多项重磅政策颁布，宏观经济预期大幅扭转，资本市场快速反弹，本产品也获得了较好的业绩。随着宏观环境和政策预期的好转，我们认为市场已经进入了比较好的投资阶段----股票估值和行业景气度都处在较低位置，基本面选股逐渐有效。我们的投资布局主要在以下行业或公司：消费方向，我们看好转型做性价比的消费公司、消费出海和银发经济等。消费是经济后周期，短期需求仍面临压力，寻找成长方向并不容易，我们认为抓住消费转型的公司才具有长期成长空间，包括转型做性价比、提供功能化产品和消费出海等。消费的增量需求方向，我们主要关注银发经济和服务消费，目前低龄退休老人的需求确定性更强，而服务消费需要物价恢复到比较好的水平。结合估值考虑，我们布局了较多的港股消费公司。医药方向，我们看好创新药、创新医疗器械和医疗服务等。目前国内创新药正处于爆发阶段，不少临床数据出现了令人惊喜的结果，我们战略看好创新药板块，创新药的投资是高风险高收益的投资，我们精选了其中与国外跨国药企有战略合作的创新药公司。医疗服务长期空间大，但不少公司估值仍较贵，我们主要选择了估值较低且发展阶段较好的医疗服务公司。机械方向，我们看好工程机械等板块，工程机械板块的国内业务属于周期恢复的起点，国外业务仍处于成长阶段。虽然本轮工程机械周期强度可能会弱于上一轮，但考虑到其中一部分公司有明显的管理改善，我们认为这类公司性价比仍比较高。其他方向，我们看好给予过度悲观估值的一类公司，这些公司的股息率给了我们很大的保护，若公司的投资或管理改善能够取得比较好的结果，我们会获得比较好的投资收益。我们还在小市值公司进行了一定的布局，这些公司从现金储备、估值等方面都处于较好的位置，目前公司的成长确定性比较强，我们预期会取得比较好的投资收益。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:20.054Z","fund":{"_id":3000000021631,"__csrcFundId":14084,"stockCode":"021631","masterFundShortName":"兴银聚优智选混合发起","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":21631,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"兴银聚优智选混合发起(021631)","lastUpdated":"2026-05-01T03:15:49.054Z","name":"兴银聚优智选混合型发起式证券投资基金","pinyin":"xyjyzxhhxfqszqtzjj","fundCollectionId":4000050890000,"setUpAssetScale":10001333.47,"setUpDate":"2024-06-16T16:00:00.000Z","setUpShares":10001333.47,"inceptionDate":"2024-06-20T16:00:00.000Z","followedNum":1,"managers":[{"stockCode":"db20920825","stockType":"fund_manager","exchange":"fm","tickerId":170807234560,"name":"乔华国"}]},"announcement":{"linkText":"兴银聚优智选混合型发起式证券投资基金2024年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1176718","linkType":"PDF","source":"csrc_pdf"}}]}