window.pageData = {"stock":{"_id":3000000023395,"stockCode":"023395","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":23395,"currency":"CNY","status":"normal","exchange":"jj","shortName":"宝盈北证50成份指数发起式A","name":"宝盈北证50成份指数型发起式证券投资基金","pinyin":"bybz50cfzsxfqszqtzjj","fundCollectionId":4000050120000,"inceptionDate":"2025-02-27T16:00:00.000Z","setUpAssetScale":16355281.54,"setUpDate":"2025-02-27T16:00:00.000Z","setUpShares":16355281.54,"followedNum":1,"masterFundShortName":"宝盈北证50成份指数发起式","indexFundFlag":1,"indexId":1000000899050,"index":{"areaCode":"cn","stockType":"index","exchange":"bj","stockCode":"899050","tickerId":899050,"name":"北证50","rebalancingFrequency":"quarterly"},"managers":[{"name":"蔡丹","stockType":"fund_manager","stockCode":"db20275614","exchange":"fm","tickerId":304170100},{"name":"阳之璇","stockType":"fund_manager","stockCode":"j101019625","exchange":"fm","tickerId":252624256390}],"fundCollection":{"name":"宝盈基金管理有限公司","stockType":"fund_collection","stockCode":"50120000","exchange":"jjgs","tickerId":50120000},"feederFunds":[],"hotMetrics":{"fss":{"stockId":3000000023395,"type":"fss","last_data_date":"2025-12-30T16:00:00.000Z","f_ins_h_s_r":0.5257000000000001,"f_ind_h_s_r":0.4743,"f_h_a":696,"f_ind_h_s_r_c_hy":0.056499999999999995,"f_ins_h_s_r_c_hy":-0.056499999999999884},"fpr":{"stockId":3000000023395,"type":"fpr","f_cagr_p_r_fs_ssc":6225,"f_cagr_p_r_fs_ssrp":0.9498714652956298,"f_p_r_m1_ssc":6150,"f_p_r_m1_ssrp":0.3881932021466905,"f_p_r_m3_ssc":5911,"f_p_r_m3_ssrp":0.893570219966159,"f_p_r_m6_ssc":5676,"f_p_r_m6_ssrp":0.9834361233480177,"f_p_r_fys_ssc":5541,"f_p_r_fys_ssrp":0.9763537906137184,"f_p_r_y1_ssc":5019,"f_p_r_y1_ssrp":0.9764846552411319},"fp":{"stockId":3000000023395,"type":"fp","f_cagr_p_r_fs":-0.1377648818741941,"f_p_r_d1":0.00039999999999995595,"f_cagr_p_r_fs_sic":43,"f_cagr_p_r_fs_sirp":1,"last_data_date":"2026-08-24T16:00:00.000Z","f_p_r_m1":0.026902382782475254,"f_p_r_m3":-0.17978102936662188,"f_p_r_m6":-0.2963483146067414,"f_p_r_fys":-0.24746526473901587,"f_p_r_y1":-0.317322432294328,"f_i_d":"2025-02-27T16:00:00.000Z"},"ff":{"stockId":3000000023395,"type":"ff","f_fr_d":"2026-02-27T16:00:00.000Z","f_m_fr":0.005,"f_c_fr":0.0005,"f_mac_fr":0.0055},"f_nlacan":{"stockId":3000000023395,"type":"f_nlacan","f_nv_d":"2026-08-24T16:00:00.000Z","f_nv":0.8016,"f_nv_cr":0.008555611474584834},"f_as":{"stockId":3000000023395,"type":"f_as","f_tas":16497217.296600001,"f_tas_d":"2026-06-29T16:00:00.000Z"}},"masterSlaveFunds":[{"_id":3000000023396,"name":"宝盈北证50成份指数型发起式证券投资基金","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","status":"normal","indexFundFlag":1,"stockCode":"023396","tickerId":23396,"shortName":"宝盈北证50成份指数发起式C","currency":"CNY","exchange":"jj","activeFundFlag":null,"etfFundFlag":null,"lofFundFlag":null,"pensionTargetFlag":null,"feederFundFlag":null,"classificationFlag":null,"closedEnd":null,"lastUpdated":"2026-08-21T17:14:25.644Z","inceptionDate":"2025-02-27T16:00:00.000Z","pinyin":"bybz50cfzsxfqszqtzjj","fundCollectionId":4000050120000,"__indexSourceEastMoney":1,"followedNum":1,"masterFundId":3000000023395,"__csrcFundId":14780,"indexId":1000000899050}],"shareholdings":[{"stockId":3000000023395,"equityId":920438,"date":"2026-06-29T16:00:00.000Z","marketCap":5392820,"holdings":33947,"netValueRatio":0.0974,"quarterlyChange":3.285405988670081,"stock":{"name":"戈碧迦","exchange":"bj","stockType":"company","stockCode":"920438","tickerId":920438}},{"stockId":3000000023395,"equityId":920185,"date":"2026-06-29T16:00:00.000Z","marketCap":3309562,"holdings":133021,"netValueRatio":0.0598,"quarterlyChange":-0.17507950665887484,"stock":{"name":"贝特瑞","exchange":"bj","stockType":"company","stockCode":"920185","tickerId":920185}},{"stockId":3000000023395,"equityId":920982,"date":"2026-06-29T16:00:00.000Z","marketCap":2258622,"holdings":17927,"netValueRatio":0.0408,"quarterlyChange":-0.17087490451847964,"stock":{"name":"锦波生物","exchange":"bj","stockType":"company","stockCode":"920982","tickerId":920982}},{"stockId":3000000023395,"equityId":920077,"date":"2026-06-29T16:00:00.000Z","marketCap":2029668,"holdings":114412,"netValueRatio":0.0367,"quarterlyChange":0.034988372077328744,"stock":{"name":"吉林碳谷","exchange":"bj","stockType":"company","stockCode":"920077","tickerId":920077}},{"stockId":3000000023395,"equityId":920808,"date":"2026-06-29T16:00:00.000Z","marketCap":2010179,"holdings":23456,"netValueRatio":0.0363,"quarterlyChange":0.2262434922291785,"stock":{"name":"曙光数创","exchange":"bj","stockType":"company","stockCode":"920808","tickerId":920808}},{"stockId":3000000023395,"equityId":920599,"date":"2026-06-29T16:00:00.000Z","marketCap":1781345,"holdings":108157,"netValueRatio":0.0322,"quarterlyChange":-0.049137737961926775,"stock":{"name":"同力股份","exchange":"bj","stockType":"company","stockCode":"920599","tickerId":920599}},{"stockId":3000000023395,"equityId":920116,"date":"2026-06-29T16:00:00.000Z","marketCap":1673518,"holdings":26276,"netValueRatio":0.0302,"quarterlyChange":0.021768860258690514,"stock":{"name":"星图测控","exchange":"bj","stockType":"company","stockCode":"920116","tickerId":920116}},{"stockId":3000000023395,"equityId":920809,"date":"2026-06-29T16:00:00.000Z","marketCap":1666891,"holdings":186662,"netValueRatio":0.0301,"quarterlyChange":0.19865771812080557,"stock":{"name":"安达科技","exchange":"bj","stockType":"company","stockCode":"920809","tickerId":920809}},{"stockId":3000000023395,"equityId":920368,"date":"2026-06-29T16:00:00.000Z","marketCap":1613385,"holdings":55234,"netValueRatio":0.0291,"quarterlyChange":-0.15111886079628,"stock":{"name":"连城数控","exchange":"bj","stockType":"company","stockCode":"920368","tickerId":920368}},{"stockId":3000000023395,"equityId":920394,"date":"2026-06-29T16:00:00.000Z","marketCap":1581506,"holdings":22937,"netValueRatio":0.0286,"quarterlyChange":0.4433298466954507,"stock":{"name":"民士达","exchange":"bj","stockType":"company","stockCode":"920394","tickerId":920394}}],"bondHoldings":[{"_id":"6a5f56dc8cdf3996de5c15f8","date":"2026-06-29T16:00:00.000Z","declarationDate":"2026-07-20T16:00:00.000Z","stockName":"26国债09","holdings":8000,"marketCap":801316,"netValueRatio":0.0145,"lastUpdated":"2026-07-21T11:24:12.905Z","equityCode":"019835","stockId":3000000023395}],"lastFsMetrics":{"latestTurnoverRate":2.5513199309395453,"latestTurnoverRateDate":"2025-12-30T16:00:00.000Z"}},"list":[{"_id":"6a5f4fbb8cdf3996de5a658f","date":"2026-06-29T16:00:00.000Z","declarationDate":"2026-07-20T16:00:00.000Z","stockId":3000000023395,"sao":"政策层面,二季度，在“十五五”规划全面启动的背景下，资本市场制度建设进一步深化。公募基金行业费率改革第二阶段稳步推进，进一步降低投资者综合成本。监管层对量化交易、程序化交易的规范管理逐步落地，市场交易秩序进一步优化。政策面对科技创新的支持力度加大，科创型企业上市融资、并购重组渠道持续拓宽，对北交所及专精特新企业的政策倾斜进一步明确，为北证50指数中长期发展奠定了制度基础。　　国内方面，二季度经济延续修复态势但结构性分化明显。制造业PMI在4-5月维持扩张区间，工业增加值增速平稳，但消费复苏仍显疲弱，房地产市场仍在筑底过程中。货币政策维持稳健偏松基调，流动性环境总体充裕，DR007利率中枢维持在政策利率下方，对权益市场形成支撑。　　海外方面，二季度全球资本市场呈现极端的结构性分化特征。以ChatGPT-5发布为标志的AI大模型竞赛进入新阶段，全球AI算力投资持续加码，推动纳斯达克及A股科创板块大幅上涨。美伊局势在二季度有所缓和，双方于5月中旬在日内瓦重启间接谈判，国际油价从一季度的85美元/桶附近回落至70美元/桶区间，全球通胀预期边际缓和。美联储在6月议息会议上维持利率不变，但点阵图暗示年内或有一次加息，市场对流动性环境的预期边际收紧。此外，美国对华科技出口管制进一步加码，对A股半导体及AI产业链形成一定扰动，板块内部轮动加速。　　2026年二季度，北证50指数经历了“冲高回落、探底回升”的震荡行情。指数4月初延续弱势震荡，4月中旬后随AI算力及半导体主题扩散，指数快速拉升，于5月12日触及季度高点1451.10点。此后受科创板巨额再融资压力及获利盘回吐影响，指数持续回调，6月4日探至季度低点1220.62点。季末在半年报业绩预告催化下小幅反弹，最终收于1251.20点，季度累计微涨0.23%，显著跑输A股主要宽基指数。　　成交额方面，季度总成交额达12639亿元，日均约210.65亿元，季度换手率509.59%，较一季度轻微回落。其中6月5日创下季度最高单日成交额318.80亿元，4月7日降至季度最低的93.85亿元，成交额波动较大，市场情绪在乐观与谨慎之间快速切换。季度年化波动率32.35%，维持较高水平。　　市场风格方面，二季度A股市场呈现极端的成长占优格局。国证成长指数上涨19.33%，国证价值指数下跌-7.62%，成长风格大幅领先价值风格；沪深300指数上涨11.90%，中证2000指数上涨7.78%，大盘风格好于小盘风格，与一季度形成切换。科创50指数暴涨75.74%，创业板指上涨36.35%，科技成长板块在AI主题驱动下表现极度强势，资金高度集中于科创板和创业板的龙头科技股。　　行业方面，二季度行业分化极为剧烈。涨幅前三的行业分别为电子（89.88%）、通信（66.12%）、建材（34.75%）。跌幅最大的行业为消费者服务（-21.84%），此外农林牧渔、传媒、石油石化、食品饮料等板块跌幅也超过15%，反映市场资金高度集中于少数AI相关赛道，传统消费和周期性板块遭遇资金流出。　　本基金跟踪北证50成份指数，北证50成份指数由北交所规模大、流动性好的最具市场代表性的50只上市公司证券组成，包含多家专精特新企业。截止6月30日，北证50指数的PE为49.81倍，相对一季度末略有下降。从相对估值来看，北证50相对科创50的相对PE为0.19倍，处于历史0.0%分位数的极低水平；北证50相对创业板50的相对PE为1.03倍，处于历史40.2%分位数，相对上季度继续下行，北证50的相对估值洼地特征进一步强化。　　最新报告期（2026一季度）北证50指数的ROE_TTM为8.36%，较上季度有所提升。Wind一致预期指数下年的净利润增速和营收增速分别为7.79%和6.33%，一致预期增速较上季度明显下修，反映在2026年一季报披露后分析师对北证50成分股全年盈利预期趋于审慎。　　展望三季度，8月是2026年半年报集中披露期，北证50成分股半年报业绩能否兑现将成为指数能否企稳回升的关键验证节点。当前北证50相对科创50的估值已处于历史极低水平（0.0%分位），若半年报业绩优于当前悲观预期，有望触发估值修复行情。政策面来看，北交所ETF产品推进、做市商扩容以及投资者适当性管理制度优化等改革措施值得关注，一旦出现实质性推进，将有效改善北交所市场流动性。国内方面，若三季度经济数据边际改善，叠加流动性环境持续宽松，A股整体风险偏好有望维持。北证50在经历了连续两个季度跑输后，相对估值优势已经极为突出，下行空间有限，但上行空间仍需业绩验证和流动性改善共同驱动。","lastUpdated":"2026-07-21T10:53:47.356Z","fund":{"_id":3000000023395,"stockCode":"023395","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":23395,"currency":"CNY","status":"normal","exchange":"jj","shortName":"宝盈北证50成份指数发起式A","lastUpdated":"2026-08-26T01:49:08.170Z","name":"宝盈北证50成份指数型发起式证券投资基金","pinyin":"bybz50cfzsxfqszqtzjj","fundCollectionId":4000050120000,"inceptionDate":"2025-02-27T16:00:00.000Z","setUpAssetScale":16355281.54,"setUpDate":"2025-02-27T16:00:00.000Z","setUpShares":16355281.54,"__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":1,"masterFundShortName":"宝盈北证50成份指数发起式","indexFundFlag":1,"__csrcFundId":14780,"indexId":1000000899050,"managers":[{"stockCode":"db20275614","stockType":"fund_manager","exchange":"fm","tickerId":304170100,"name":"蔡丹"},{"stockCode":"j101019625","stockType":"fund_manager","exchange":"fm","tickerId":252624256390,"name":"阳之璇"}]},"announcement":{"linkText":"宝盈北证50成份指数型发起式证券投资基金2026年第二季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1534728","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69e8ec831398d79843fe9edf","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","stockId":3000000023395,"sao":"政策层面，中国资本市场政策主线进一步聚焦“稳预期、强改革、引长钱”，在“十五五”开局之年构建了系统性的制度框架：从公募基金业绩基准规范化提升行业透明度，到政府工作报告确立“稳预期”政策基调，再到创业板改革和再融资机制优化服务新质生产力发展。虽然短期市场可能仍受地缘政治等因素扰动，但政策面的持续发力为资本市场中长期健康发展奠定了坚实的制度基础，有助于引导市场预期从短期博弈转向长期价值投资。　　宏观层面来看，国内方面，经济修复虽有反复，但并未系统性失速，稳增长与偏宽松的流动性环境仍对板块形成底部支撑；海外方面，今年2月28日美伊冲突爆发以来，全球市场出现了不同程度波动，大类资产整体呈现高波动运行特征，宏观主线交织反转、预期快速切换。一方面，美伊局势突发升级并持续拉锯，国际油价大幅上行，推升全球通胀预期，引发资产价格剧烈震荡；另一方面，美联储降息周期延后担忧，叠加AI技术对传统行业的颠覆预期扩散，对高弹性板块估值弹性构成压制。　　2026年一季度，北证50指数从1月初的1444.23点震荡上行至1月17日的季度高点1614.08点后，进入高位震荡阶段，3月快速下跌，季末收于1248.29点，季度累计下跌13.34%，跑输A股主要的宽基指数。成交额方面，季度总成交额达1.26万亿元，日均约225.74亿元，季度换手率569.76%，其中1月17日创下季度最高单日成交额480.45亿元，3月下旬成交额明显萎缩，3月27日降至季度最低的107.22亿元，显示市场活跃度从季度初的高位逐步回落。　　市场风格方面，一季度国证成长指数下跌0.12%，国证价值指数下跌0.84%，成长风格好于价值风格；沪深300指数下跌3.89%，中证2000指数上涨1.22%，小盘风格好于大盘风格；行业方面，煤炭、石油石化、电力及公用事业涨幅分列前三，分别上涨17.56%、12.16%，8.0%；综合金融跌幅最大，下跌15.77%。　　本基金跟踪北证50成份指数，北证50成份指数由北交所规模大、流动性好的最具市场代表性的50只上市公司证券组成，包含多家专精特新企业。截止12月31日，北证50指数的PE为50.67倍，相对上季度有下降，从相对估值来看，北证50相对科创50的相对PE为0.32倍，处于历史0.99%分位数的极低水平，北证50相对创业板50的相对PE为1.34倍，相对上季度继续下行，处于历史56%分位数。最新报告期北证50指数的ROE_TTM为7.41%，wind一致预期指数下年的营收增速和净利润增速分别为12.32%和42.33%。　　展望下个季度，4月是财报集中披露期，龙头业绩是否超预期兑现将成为北证50能否形成持续性行情的关键验证节点。地缘政治方面，我们认为市场对美伊冲突反应可能逐渐钝化。政策面来看，关注北证专精特新指数基金、北证50ETF产品推进与市值打新流程进展情况，一旦出现实质性推进，将改善流动性预期并提升中长期配置属性。　　本基金采取完全复制的被动式指数基金管理策略，用量化方法来跟踪和控制偏离度，力争跟踪指数的收益，并将基金跟踪误差控制在合理范围内。本基金A份额一季度区间年化跟踪误差为0.78%，较好跟踪了基准指数的表现。","lastUpdated":"2026-04-22T15:42:59.198Z","fund":{"_id":3000000023395,"stockCode":"023395","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":23395,"currency":"CNY","status":"normal","exchange":"jj","shortName":"宝盈北证50成份指数发起式A","lastUpdated":"2026-08-26T01:49:08.170Z","name":"宝盈北证50成份指数型发起式证券投资基金","pinyin":"bybz50cfzsxfqszqtzjj","fundCollectionId":4000050120000,"inceptionDate":"2025-02-27T16:00:00.000Z","setUpAssetScale":16355281.54,"setUpDate":"2025-02-27T16:00:00.000Z","setUpShares":16355281.54,"__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":1,"masterFundShortName":"宝盈北证50成份指数发起式","indexFundFlag":1,"__csrcFundId":14780,"indexId":1000000899050,"managers":[{"stockCode":"db20275614","stockType":"fund_manager","exchange":"fm","tickerId":304170100,"name":"蔡丹"},{"stockCode":"j101019625","stockType":"fund_manager","exchange":"fm","tickerId":252624256390,"name":"阳之璇"}]},"announcement":{"linkText":"宝盈北证50成份指数型发起式证券投资基金2026年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1476666","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69ca7c517ecbd37c10afbf4e","date":"2025-12-30T16:00:00.000Z","declarationDate":"2026-03-29T16:00:00.000Z","stockId":3000000023395,"sao":"本基金跟踪北证50成份指数，北证50成份指数由北交所规模大、流动性好的最具市场代表性的50只上市公司证券组成，包含多家专精特新企业。　　回顾2025全年，北证50指数整体呈“快速拉升、随后震荡上行、年末回调盘整”的三阶段态势，全年累计上涨38.80%，跑赢主要宽基指数，同期沪深300指数上涨17.66%，中证2000指数上涨36.42%。指数2025全年成交总额6.49万亿元，日均成交额267亿元，较2024年增长117%。　　一季度，指数处于快速拉升阶段，延续2024年末的修复节奏，在政策预期升温与存量资金推动下缓步抬升，累计涨幅达22.48%，其中2月表现最为突出，单月涨幅显著。这一阶段，北交所“交易所第三极”定位逐步强化，市场对后续政策红利的预期持续升温，风险偏好有所回暖，指数连续上行，成交额逐步放大，反映资金对政策预期的积极响应。二三季度，指数进入震荡上行阶段，其间经历短期回调后逐步重拾升势，累计涨幅达20.26%。5月16日，并购重组新政落地，推出“2+5+5”快速审核机制，降低并购成本，刺激专精特新企业整合，成为行情重要催化；6月30日，北证专精特新指数发布，聚焦国家战略新兴领域，吸引主题资金布局，政策红利叠加AI、机器人、新材料等产业赛道爆发，推动指数逐步突破前期震荡区间。9月8日，指数触及全年最高点1670.01点后，高位抛压开始显现，随后逐步进入调整阶段。四季度，指数从高位逐步回落，其间虽有短期反弹，但整体呈现震荡下行态势，最终于12月31日收于1440.43点，下跌5.77%，最大回撤15.1%。这一阶段，市场流动性逐步收缩，成交额较前三季度有所收窄。　　本基金采取完全复制的被动式指数基金管理策略，用量化方法来跟踪和控制偏离度，力争跟踪指数的收益，并将基金跟踪误差控制在合理范围内。本基金于2025年2月28日成立，随后进入建仓期，并于3月24日开放申赎。开放申赎以来区间年化跟踪误差为3.88%，符合指数产品合同要求。","lastUpdated":"2026-03-30T13:36:17.754Z","mo":"宏观层面，2025年中国GDP同比增长5%，增长动力呈现新旧动能转换特征，其中装备制造业、高技术制造业增加值增速显著高于工业整体水平，2025年出口额6.35万亿美元，外需韧性延续；社会消费品零售总额增速3.7%、固定资产投资下降3.8%，内需修复缓慢成为主要约束。2026年是“十五五”开局年份，中央经济工作会议提出：要坚持内需主导，建设强大国内市场；深入实施提振消费专项行动，制定实施城乡居民增收计划；扩大优质商品和服务供给；优化“两新”政策实施。2026年积极财政与稳健货币政策有望协同发力，专项债与超长期特别国债规模合计超4万亿元，重点支持设备更新、以旧换新等领域；货币政策以稳流动性与定向支持为主，产业政策围绕科技创新、专精特新与新兴产业持续加码，为A股市场继续保持“慢牛”态势提供重要支撑，也为北交所提供中期制度与产业上的支持。外围市场来看，全球多国财政、货币双宽松，特朗普提名的美联储新主席大概率将延续降息周期。国内来看，A股盈利端已呈现边际改善迹象，本轮市场上涨有望进入盈利驱动阶段。　　此外，北证50ETF的推出、北交所市值打新改革的推进、再融资一揽子优化措施的推出、长期资金入市等增量政策出台有望成为新的行情催化剂，一旦出现实质性推进，将改善北证50指数的流动性预期并提升中长期配置价值。","fund":{"_id":3000000023395,"stockCode":"023395","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":23395,"currency":"CNY","status":"normal","exchange":"jj","shortName":"宝盈北证50成份指数发起式A","lastUpdated":"2026-08-26T01:49:08.170Z","name":"宝盈北证50成份指数型发起式证券投资基金","pinyin":"bybz50cfzsxfqszqtzjj","fundCollectionId":4000050120000,"inceptionDate":"2025-02-27T16:00:00.000Z","setUpAssetScale":16355281.54,"setUpDate":"2025-02-27T16:00:00.000Z","setUpShares":16355281.54,"__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":1,"masterFundShortName":"宝盈北证50成份指数发起式","indexFundFlag":1,"__csrcFundId":14780,"indexId":1000000899050,"managers":[{"stockCode":"db20275614","stockType":"fund_manager","exchange":"fm","tickerId":304170100,"name":"蔡丹"},{"stockCode":"j101019625","stockType":"fund_manager","exchange":"fm","tickerId":252624256390,"name":"阳之璇"}]},"announcement":{"linkText":"宝盈北证50成份指数型发起式证券投资基金2025年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1450928","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3e67fea5b3eb0542abc","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-27T16:00:00.000Z","stockId":3000000023395,"sao":"今年开年以来，我国宏观经济稳健运行，8月份我国规模以上工业增加值当月同比实际增长5.2%，今年1-8月规模以上工业增加值累计同比 6.2%，尽管边际有所下行，仍保持较高增速。透过数据来看，宏观政策协同发力，国民经济运行总体平稳，生产、需求、就业、物价等经济指标总体稳定，新动能持续壮大，多数行业、产品实现增长。近期美联储重启降息周期，全球流动性持续改善，中美贸易谈判取得进展，九三阅兵提振国内信心。本季度A股投资者热情高涨，市场交投活跃度达到新高度，A股持续上扬，9月上证综指盘中点位一度逼近3900点整数关口，续创过去十年新高，深证成指、创业板指再度刷新年内新高。2025年三季度，北证50指数7月到8月中旬窄幅震荡，8月中旬受到科技主线的带动下快速拉升，9月上旬指数仍较为强势，下旬震荡回落，季度末收于1528.63点，三季度区间上涨5.63%，大幅跑输科创板和创业板相关指数，季度成交额达1.84万亿元。　　今年三季度中盘表现好于小盘和大盘，成长风格大幅跑赢价值风格；行业方面，中信一级行业有28个行业上涨，涨幅前三的行业：通信（上涨50.20%）、电子（上涨44.49%）和有色金属（上涨44.06%）；涨幅排后的三个行业：综合金融（下跌9.03%）、银行（下跌8.66%）和交运（上涨0.93%）。　　本基金跟踪北证50成份指数，北证50成份指数由北交所规模大、流动性好的最具市场代表性的50只上市公司证券组成，包含多家专精特新企业，成长及盈利能力表现优异。截止9月30日，北证50指数的PE为71.79倍，从相对估值来看，北证50相对科创50的相对PE为0.37倍，处于历史0.6%分位数水平，北证50相对创业板50的相对PE为1.56倍，处于历史72.87%，相对年初大幅下滑。　　本基金采取完全复制的被动式指数基金管理策略，用量化方法来跟踪和控制偏离度，力争跟踪指数的收益，并将基金跟踪误差控制在合理范围内。本季度本基金A份额区间年化跟踪误差为0.76%，较好跟踪了基准指数的表现。　　展望下个季度，随着专精特新指数的推出、新股发行的稳步推进和更多并购重组项目落地，我们认为北交所的交投活跃度和市场关注度有望维持在较高水平。10月份是北交所市场的重要节点，将迎来开市十周年，10月 9日起，北交所存量代码将全面切换920代码，代码切换有望增加北证辨识度，同时代码切换完成后，北证专精特新指数基金、ETF等新产品将加速推进，可关注四季度北证专精特新指数基金发行情况，新基金发行将会进一步提升流动性和资金参与度。","lastUpdated":"2026-03-09T14:06:30.852Z","fund":{"_id":3000000023395,"stockCode":"023395","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":23395,"currency":"CNY","status":"normal","exchange":"jj","shortName":"宝盈北证50成份指数发起式A","lastUpdated":"2026-08-26T01:49:08.170Z","name":"宝盈北证50成份指数型发起式证券投资基金","pinyin":"bybz50cfzsxfqszqtzjj","fundCollectionId":4000050120000,"inceptionDate":"2025-02-27T16:00:00.000Z","setUpAssetScale":16355281.54,"setUpDate":"2025-02-27T16:00:00.000Z","setUpShares":16355281.54,"__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":1,"masterFundShortName":"宝盈北证50成份指数发起式","indexFundFlag":1,"__csrcFundId":14780,"indexId":1000000899050,"managers":[{"stockCode":"db20275614","stockType":"fund_manager","exchange":"fm","tickerId":304170100,"name":"蔡丹"},{"stockCode":"j101019625","stockType":"fund_manager","exchange":"fm","tickerId":252624256390,"name":"阳之璇"}]},"announcement":{"linkText":"宝盈北证50成份指数型发起式证券投资基金2025年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1379929","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3e67fea5b3eb0542abb","date":"2025-06-29T16:00:00.000Z","stockId":3000000023395,"sao":"本基金跟踪北证50成份指数，北证50成份指数由北交所规模大、流动性好的最具市场代表性的50只上市公司证券组成，包含多家专精特新企业，成长及盈利能力表现优异。　　今年上半年我国宏观经济温和复苏，需求结构改善。一季度GDP同比增长5.4%，二季度增长5.2%，高于全年5%目标。需求结构中，消费成为亮点：耐用品消费在政策激励下大幅增长，以旧换新等政策效果显著。出口方面，即便特朗普上任以来对我国出口造成大幅扰动，但上半年我国出口也实现了正增长。今年1月以来北证50指数快速上涨，3月18日到达1411.88点，4月2日特朗普宣布的超预期关税政策导致市场急跌，4月7日北证50单日跌幅达17.95%，几乎回吐年内所有涨幅，此后指数触底反弹，价格迅速修复后震荡上行，上半年收于1447.18点，H1区间上涨39.45%，大幅跑赢A股主要的宽基指数。这一表现归功于政策支持和市场情绪回暖。政策方面，北交所持续优化制度：今年北交所针对融资端、发行端、市场端等不断落地和完善相关政策，整体处于“小步快跑”态势； 6月30日发布专精特新指数，吸引了增量资金流入；今年下半年针对北交所存量代码切换、ETF等政策值得期待。市场风格方面，今年上半年小盘风格表现明显强于大盘风格，价值风格略好于成长风格；行业方面，有色金属表现最好，银行其次，煤炭、食品饮料行业跌幅最大。　　本基金采取完全复制的被动式指数基金管理策略，用量化方法来跟踪和控制偏离度，力争跟踪指数的收益，并将基金跟踪误差控制在合理范围内。","declarationDate":"2025-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T14:06:30.850Z","mo":"展望下半年，全球经济面临贸易保护主义加剧和地缘政治紧张等挑战。最新关税政策调整后，中美经贸关系有所缓和，但仍需关注后续谈判进程及最终关税税率，或对A股投资者情绪产生扰动。外部流动性来看，我们预计美元指数可能延续相对弱势，美债收益率可能从高位震荡到下行，有利于市场风险偏好的提升。国内方面，年初以来央行、金融监管总局、证监会多措并举，推动市场长远健康发展，下半年一揽子政策有望带动宏观经济基本面企稳修复，无风险利率或延续低位震荡，人民币汇率有望保持双向波动，投资者情绪有望继续回暖。当前已进入中报披露窗口期，从二季报业绩预告情况来看，非银金融板块和有色板块占优，电子板块中报延续一季度景气，地产链板块承压。当前时点来看，中美关税谈判有望在8月份落地，美国有望在9月重启降息，届时国内政策空间有望进一步打开，叠加10月四中全会预期，内外政策有望共振。","fund":{"_id":3000000023395,"stockCode":"023395","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":23395,"currency":"CNY","status":"normal","exchange":"jj","shortName":"宝盈北证50成份指数发起式A","lastUpdated":"2026-08-26T01:49:08.170Z","name":"宝盈北证50成份指数型发起式证券投资基金","pinyin":"bybz50cfzsxfqszqtzjj","fundCollectionId":4000050120000,"inceptionDate":"2025-02-27T16:00:00.000Z","setUpAssetScale":16355281.54,"setUpDate":"2025-02-27T16:00:00.000Z","setUpShares":16355281.54,"__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":1,"masterFundShortName":"宝盈北证50成份指数发起式","indexFundFlag":1,"__csrcFundId":14780,"indexId":1000000899050,"managers":[{"stockCode":"db20275614","stockType":"fund_manager","exchange":"fm","tickerId":304170100,"name":"蔡丹"},{"stockCode":"j101019625","stockType":"fund_manager","exchange":"fm","tickerId":252624256390,"name":"阳之璇"}]},"announcement":{"linkText":"宝盈北证50成份指数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=1342732","linkType":"PDF","source":"csrc_pdf"}}]}