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　　在基金的投资运作方面，我们在一季度维持了较高的股票仓位。我们积极看待中国在全球科技变革发展和中国经济深入转型的大背景下，以优质科技资产为代表的新质生产力引领中国股票的价值重估。相应地，我们对相关优质科技资产做了重点配置。　　展望二季度，在地缘政治的复杂影响下，预计市场仍将以区间震荡为主，但波动可能较大。在二季度前期，市场更多受到加征关税等地缘政治事件的扰动，因此波动较大。但不同与2018年，从中长期来看，贸易冲突等地缘政治事件不是影响市场趋势的主要矛盾；我们相信随着事件的落地以及情绪的修复，之后市场将重新回归经济转型与科技发展所推动的价值重估主线，最终二季度有望呈现出先抑后扬的态势。　　从大类资产战略配置的角度，我们认为当前A股相对于人民币债券的吸引力更大，因此我们将总体维持对股票的超配，但将根据市场情况动态调整超配幅度。在风格/策略方面，我们将继续重点配置引领中国股票价值重估的优质科技资产，亦将阶段性重点配置企业盈利有望超预期的资产。在行业方面，我们主要看好TMT、机械、汽车、化工等优质科技资产分布相对集中的行业，以及新消费(尤其是服务消费)和国防军工等行业。","declarationDate":"2025-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:36.470Z","fund":{"_id":3000000021981,"__csrcFundId":14241,"stockCode":"021981","masterFundShortName":"安联中国精选混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":21981,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"安联中国精选混合(021981)","lastUpdated":"2026-05-01T03:23:41.685Z","name":"安联中国精选混合型证券投资基金","pinyin":"alzgjxhhxzqtzjj","setUpAssetScale":167767436.47,"setUpDate":"2024-09-02T16:00:00.000Z","setUpShares":167767436.47,"inceptionDate":"2024-09-05T16:00:00.000Z","fundCollectionId":4000071510000,"managers":[{"stockCode":"8801434736","stockType":"fund_manager","exchange":"fm","tickerId":325163320,"name":"程彧"}]},"announcement":{"linkText":"安联中国精选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=1269213","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3b07fea5b3eb0540976","date":"2024-12-30T16:00:00.000Z","stockId":3000000021981,"sao":"2024年，A股市场经历了较大波动，最终沪深300指数全年录得近15%的上涨。市场波动背后的主要影响因素包括，宏观经济增长与企业盈利增长的挑战和地缘政治风险的扰动。但是，我们也欣喜地看到，在全球科技变革发展背景下的中国经济加速转型和中国资本市场走向高质量发展背景下的上市公司治理改善，均获得了市场的积极认可。因此，从市场风格来看，红利资产与优质成长资产均有较好表现。从全年行业表现来看，大金融、家电、通信等行业涨幅领先，而医药、消费(包括食品饮料、消费者服务等)、农林牧渔等行业表现落后。　　在基金的投资运作方面，我们在9月基金成立之初就完成了快速建仓。在基金成立之后，我们做了仓位的动态调整，并且在年末保持了高仓位。在全球科技变革发展、中国经济深入转型、国内资本市场高质量发展，国债利率下行的大背景下，我们围绕高股息资产以及优质成长资产做了重点配置。","declarationDate":"2025-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:36.467Z","mo":"展望2025年全年，我们仍然看好A股市场在企业盈利增长和政策组合拳的支持下延续震荡向上的态势。值得注意的是，虽然中国宏观经济增长仍然面临挑战，但经济转型正在加速、资本市场也在不断强化上市公司治理与股东回报，因此中国股票有望获得系统性的估值修复。当然，市场上涨的过程不可避免地将伴随波动，短期宏观经济增长压力、地缘政治风险、甚至对于经济政策的过高预期都可能成为短期扰动因素。　　从大类资产战略配置的角度，我们认为当前A股相对于人民币债券的吸引力更大，因此我们将总体维持对股票的超配，但将根据市场情况动态调整超配幅度。在风格/策略方面，全年我们将继续重点配置高股息资产与优质成长资产(但会在不同阶段有所侧重)，亦将阶段性重点配置企业盈利有望超预期的资产。在行业方面，全年我们主要看好高股息资产相关的银行、电信运营商、上游资源品等行业，优质成长资产中分布相对较多的TMT、新型机械设备、新消费(尤其是服务消费)、新材料和国防军工等行业。","fund":{"_id":3000000021981,"__csrcFundId":14241,"stockCode":"021981","masterFundShortName":"安联中国精选混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":21981,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"安联中国精选混合(021981)","lastUpdated":"2026-05-01T03:23:41.685Z","name":"安联中国精选混合型证券投资基金","pinyin":"alzgjxhhxzqtzjj","setUpAssetScale":167767436.47,"setUpDate":"2024-09-02T16:00:00.000Z","setUpShares":167767436.47,"inceptionDate":"2024-09-05T16:00:00.000Z","fundCollectionId":4000071510000,"managers":[{"stockCode":"8801434736","stockType":"fund_manager","exchange":"fm","tickerId":325163320,"name":"程彧"}]},"announcement":{"linkText":"安联中国精选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=1254287","linkType":"PDF","source":"csrc_pdf"}}]}