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BETA选股模型。展望后市，美联储已重启降息周期，同时国内“十五五”规划相关会议临近，新质生产力进入新一轮扩张周期，而工业企业整体盈利转正，并有望在“反内卷”政策背景下伴随PPI止跌回暖实现震荡修复，市场的风险偏好有望维持高位，量化增强类产品的配置价值仍值得关注。本基金将继续坚持系统化投资的运作思路，秉持勤勉尽责，力争为投资者获得有竞争力的超额收益。","lastUpdated":"2026-03-09T14:05:37.327Z","fund":{"_id":3000000022003,"__csrcFundId":14439,"stockCode":"022003","masterFundShortName":"博道大盘成长股票","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":22003,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"博道大盘成长股票A","lastUpdated":"2025-01-08T23:14:41.847Z","name":"博道大盘成长股票型证券投资基金","pinyin":"bddpczgpxzqtzjj","fundCollectionId":4000051560000,"setUpAssetScale":206353865.8,"setUpDate":"2024-11-25T16:00:00.000Z","setUpShares":206353865.8,"inceptionDate":"2024-11-28T16:00:00.000Z","followedNum":2,"managers":[{"stockCode":"8801600781","stockType":"fund_manager","exchange":"fm","tickerId":2513181600,"name":"杨梦"},{"stockCode":"j101019647","stockType":"fund_manager","exchange":"fm","tickerId":122313241600,"name":"刘玮明"}]},"announcement":{"linkText":"博道大盘成长股票型证券投资基金2025年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1375836","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3b17fea5b3eb0540a4f","date":"2025-06-29T16:00:00.000Z","stockId":3000000022003,"sao":"2025年上半年，中国经济韧性有所体现，资本市场较为活跃。上半年国内经济基本面数据在国际形势动荡的背景下表现基本平稳，市场风险偏好明显改善，资本市场韧性较强，无风险利率保持低位。具体来看，上证指数上涨2.76%、沪深300上涨0.03%、中证500上涨3.31%、中证1000上涨6.69%，从中信行业表现来看，综合金融、有色金属、银行涨幅居前，分别上涨33.09%、18.22%、15.90%，煤炭、房地产、食品饮料跌幅较大，分别下跌10.77%、5.97%、5.87%。从因子层面来看，一季度科技风格崛起，价值类因子表现承压，基本面类因子先抑后扬，表现居中，AI量价因子整体表现占优；二季度市场个股活跃度高，有利于量化模型创造超额收益，各类因子整体表现良好。2月份市场总体呈现出高波风格占主导的特征，使得多因子模型的整体超额收益表现有一定的波动；3月份以来随着行情的扩散，模型的超额收益逐步得到较好的修复。在今年2月份的超额波动中，我们一直从组合优化和风控模型的角度探索系统化迭代的方向。对此，我们从风控模型的底层原理出发，利用AI模型重构风险因子体系，进行降维和提纯，再进行更精细的对风险暴露的控制，在同样的多因子模型和风险敞口参数下，组合的风险收益比和抗回撤能力得到了一定的提升。 报告期间，本基金维持配置大盘成长SMART BETA选股模型。","declarationDate":"2025-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:37.324Z","mo":"展望后市，在美国经济政策变化的背景下海外流动性中期偏宽松，国内结构性增长的亮点逐步显现，同时股市仍然兼具一定的赔率和胜率，市场风险偏好不弱，量化增强类产品的配置价值仍值得关注。本基金将继续坚持系统化投资的运作思路，秉持勤勉尽责，力争为投资者获得有竞争力的超额收益。","fund":{"_id":3000000022003,"__csrcFundId":14439,"stockCode":"022003","masterFundShortName":"博道大盘成长股票","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":22003,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"博道大盘成长股票A","lastUpdated":"2025-01-08T23:14:41.847Z","name":"博道大盘成长股票型证券投资基金","pinyin":"bddpczgpxzqtzjj","fundCollectionId":4000051560000,"setUpAssetScale":206353865.8,"setUpDate":"2024-11-25T16:00:00.000Z","setUpShares":206353865.8,"inceptionDate":"2024-11-28T16:00:00.000Z","followedNum":2,"managers":[{"stockCode":"8801600781","stockType":"fund_manager","exchange":"fm","tickerId":2513181600,"name":"杨梦"},{"stockCode":"j101019647","stockType":"fund_manager","exchange":"fm","tickerId":122313241600,"name":"刘玮明"}]},"announcement":{"linkText":"博道大盘成长股票型证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1345473","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3b17fea5b3eb0540a4e","date":"2025-03-30T16:00:00.000Z","stockId":3000000022003,"sao":"2025年一季度，国内风险偏好在DeepSeek带动下明显回暖，恒生指数和北证50表现亮眼。具体来看，恒生指数上涨15.25%、恒生科技上涨20.74%、北证50上涨22.48%；大盘和宽基指数呈现窄幅震荡格局，上证指数下跌0.48%、沪深300下跌1.21%、中证500上涨2.31%、中证1000上涨4.51%。从行业来看，有色、汽车、机械涨幅居前，分别上涨11.34%、11.30%、8.85%，煤炭、商贸零售、非银金融跌幅较大，分别下跌10.70%、7.41%、6.18%。从因子层面来看，一季度科技风格崛起，价值类因子表现承压，基本面类因子先抑后扬，表现居中；市场个股活跃度高，AI量价因子整体表现占优。2月份市场总体呈现出高波风格占主导的特征，导致多因子模型的整体超额表现有一定的波动；3月份随着行情的扩散，模型的超额收益得到逐步修复。在去年10月份和今年2月份的超额波动中，我们一直从组合优化和风控模型的角度探索系统化迭代的方向。对此，我们从风控模型的底层原理出发，通过AI模型重构风险因子体系，进行降维和提纯，再进行更精细的风险暴露的控制，在同样的多因子模型和风险敞口参数下，提升组合的风险收益比和抗回撤能力。报告期间，本基金维持配置大盘成长SMART BETA选股模型。展望未来，从中期角度而言，股票类资产仍然兼具一定的赔率和胜率，量化增强类产品的配置价值值得关注。本基金将继续坚持SMART BETA的选股思路，秉持勤勉尽责，力争为投资者获得有竞争力的超额收益。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:37.321Z","fund":{"_id":3000000022003,"__csrcFundId":14439,"stockCode":"022003","masterFundShortName":"博道大盘成长股票","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":22003,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"博道大盘成长股票A","lastUpdated":"2025-01-08T23:14:41.847Z","name":"博道大盘成长股票型证券投资基金","pinyin":"bddpczgpxzqtzjj","fundCollectionId":4000051560000,"setUpAssetScale":206353865.8,"setUpDate":"2024-11-25T16:00:00.000Z","setUpShares":206353865.8,"inceptionDate":"2024-11-28T16:00:00.000Z","followedNum":2,"managers":[{"stockCode":"8801600781","stockType":"fund_manager","exchange":"fm","tickerId":2513181600,"name":"杨梦"},{"stockCode":"j101019647","stockType":"fund_manager","exchange":"fm","tickerId":122313241600,"name":"刘玮明"}]},"announcement":{"linkText":"博道大盘成长股票型证券投资基金2025年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1274088","linkType":"PDF","source":"csrc_pdf"}}]}