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展望未来，世界格局和AI产业潮浪将加速演进，对于投资而言，我们有时会遇到类似三季度这样的机会窗口，有时也会因为各类黑天鹅事件、估值泡沫等原因而遭遇大幅回撤。对本基金而言，我们将继续坚守核心原则，在能力圈范围内寻找更多能把握的投资机会，规避可能的风险，力求为投资者带来稳健、可持续的回报。","lastUpdated":"2026-03-09T14:05:51.945Z","fund":{"_id":3000000022292,"__csrcFundId":14543,"stockCode":"022292","masterFundShortName":"前海开源优选领航股票","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":22292,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"前海开源优选领航股票(022292)","lastUpdated":"2026-05-01T03:28:08.930Z","name":"前海开源优选领航股票型发起式证券投资基金","pinyin":"qhkyyxlhgpxfqszqtzjj","fundCollectionId":4000050780000,"inceptionDate":"2025-01-02T16:00:00.000Z","setUpAssetScale":11943056.7,"setUpDate":"2025-01-02T16:00:00.000Z","setUpShares":11943056.7,"managers":[{"stockCode":"db20755594","stockType":"fund_manager","exchange":"fm","tickerId":2023206620,"name":"田维"}]},"announcement":{"linkText":"前海开源优选领航股票型发起式证券投资基金2025年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1375212","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3bf7fea5b3eb054114b","date":"2025-06-29T16:00:00.000Z","stockId":3000000022292,"sao":"报告期内，宏观环境变化剧烈。一季度， DeepSeek横空出世，显示中国经济转型升级取得成效。4月初，美国又掀起全球关税战，市场起初认为关税战会给全球和中国经济带来严重负面影响，但是中国出人意料地强力反击，最终迫使美国让步，达成临时协议。中国经济也经历了一轮极限测试，出口、消费均表现出强大韧性，整体经济表现超出预期。  另一方面，报告期内低利率环境持续，也在深刻影响着各类投资人的行为模式，并影响各类资产表现。  整体而言，中国的科技突破，以及在关税战中的韧性表现提振了资本市场的信心，低利率环境提供了充足的流动性，使得报告期内A股和港股市场均呈现上涨态势，其中沪深300指数上半年上涨0.03%；恒生指数上涨20%，市场整体趋于活跃。  在二季度关税战打响之前，我们的投资策略是着眼于寻找业务韧性强、估值低、股东回报优秀的优质公司来抵御可能的外部冲击，以确定性应对潜在的不确定性。这一策略较好地抵御了关税战前期市场的风险，但确实也导致我们错过了一些优质成长类公司的机会。","declarationDate":"2025-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:51.937Z","mo":"展望未来，在经历此次的极限测试之后，我们预计市场对于国际外部环境的担忧会减少，中国经济的表现和资本市场表现将更多取决于中国内部环境的变化。目前看，尽管地产等传统行业仍有压力，但我们已经看到经济转型的初步成效，以及涌现出的新投资机会。而且从大类资产的比较来看，权益仍是最具投资性价比的品种之一。  所以我们对权益市场的未来表现仍然持积极态度，我们将继续寻找优质标的，总结前期经验教训，适时改进投资策略，力求为投资者带来稳健、可持续的回报。","fund":{"_id":3000000022292,"__csrcFundId":14543,"stockCode":"022292","masterFundShortName":"前海开源优选领航股票","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":22292,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"前海开源优选领航股票(022292)","lastUpdated":"2026-05-01T03:28:08.930Z","name":"前海开源优选领航股票型发起式证券投资基金","pinyin":"qhkyyxlhgpxfqszqtzjj","fundCollectionId":4000050780000,"inceptionDate":"2025-01-02T16:00:00.000Z","setUpAssetScale":11943056.7,"setUpDate":"2025-01-02T16:00:00.000Z","setUpShares":11943056.7,"managers":[{"stockCode":"db20755594","stockType":"fund_manager","exchange":"fm","tickerId":2023206620,"name":"田维"}]},"announcement":{"linkText":"前海开源优选领航股票型发起式证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1341352","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3bf7fea5b3eb054114a","date":"2025-03-30T16:00:00.000Z","stockId":3000000022292,"sao":"在2025年一季度，我们看到国内宏观环境出现更多的积极变化，以地产为代表的“老经济”部门出现触底的曙光，而“新经济”部门以DeepSeek的横空出世为例，也出现了喜人的突破，显示出中国经济转型升级取得的成效。但是美国新一届政府上台后，推行各类倒行逆施的反全球化政策，又给中国经济带来很大负面冲击，增加了后续走势的不确定性。  市场方面，2025年一季度A股整体呈现震荡走势，沪深300指数微跌1.2%；港股市场表现强势，恒生指数上涨15.3%。板块方面，科技成长板块受到科技突破的提振，表现抢眼。但4月初美国推行“对等关税”政策，为未来市场表现蒙上阴影。  由于“对等关税”刚刚落地，预计还需要一段时间才能有更加清晰的结论。在这个过程中，我们认为最好的办法是以确定性应对不确定性，即坚守价值投资的方法，选择业务韧性强、估值低、股东回报优秀的公司来抵御外部的冲击。从长期看，随着国内政策发力，目前的不确定性消退，我们认为这类优质的资产会有良好的回报。我们将矢志不渝，继续优选优质标的，力求为投资者带来稳健可持续的回报。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:51.933Z","fund":{"_id":3000000022292,"__csrcFundId":14543,"stockCode":"022292","masterFundShortName":"前海开源优选领航股票","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":22292,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"前海开源优选领航股票(022292)","lastUpdated":"2026-05-01T03:28:08.930Z","name":"前海开源优选领航股票型发起式证券投资基金","pinyin":"qhkyyxlhgpxfqszqtzjj","fundCollectionId":4000050780000,"inceptionDate":"2025-01-02T16:00:00.000Z","setUpAssetScale":11943056.7,"setUpDate":"2025-01-02T16:00:00.000Z","setUpShares":11943056.7,"managers":[{"stockCode":"db20755594","stockType":"fund_manager","exchange":"fm","tickerId":2023206620,"name":"田维"}]},"announcement":{"linkText":"前海开源优选领航股票型发起式证券投资基金2025年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1270419","linkType":"PDF","source":"csrc_pdf"}}]}