window.pageData = {"stock":{"_id":3000000023665,"name":"中信保诚稳和利率债债券型证券投资基金","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","status":"normal","stockCode":"023665","tickerId":23665,"shortName":"中信保诚稳和利率债债券C","currency":"CNY","exchange":"jj","masterFundFlag":null,"indexFundFlag":null,"activeFundFlag":null,"etfFundFlag":null,"lofFundFlag":null,"pensionTargetFlag":null,"feederFundFlag":null,"classificationFlag":null,"closedEnd":null,"inceptionDate":"2025-11-06T16:00:00.000Z","pinyin":"zxbcwhllzzqxzqtzjj","fundCollectionId":4000050490000,"fundCollection":{"exchange":"jjgs","stockType":"fund_collection","stockCode":"50490000","tickerId":50490000,"name":"中信保诚基金管理有限公司"},"managers":[{"name":"杨穆彬","stockType":"fund_manager","stockCode":"db20766323","exchange":"fm","tickerId":251302211080}],"hotMetrics":{"fpr":{"stockId":3000000023665,"type":"fpr","f_cagr_p_r_fs_ssc":7305,"f_cagr_p_r_fs_ssrp":0.9550930996714129,"f_p_r_m1_ssc":7604,"f_p_r_m1_ssrp":0.8025779297645667,"f_p_r_fys_ssc":7460,"f_p_r_fys_ssrp":0.8877865665638826,"f_p_r_m3_ssc":7521,"f_p_r_m3_ssrp":0.7855053191489362,"f_p_r_m6_ssc":7343,"f_p_r_m6_ssrp":0.8971669844728957},"fp":{"stockId":3000000023665,"type":"fp","last_data_date":"2026-05-26T16:00:00.000Z","f_cagr_p_r_fs":0.007099999999999884,"f_p_r_m1":0.0011929615269907767,"f_p_r_fys":0.006294964028777272,"f_p_r_m3":0.004287993617870134,"f_p_r_m6":0.007503001200480197},"f_nlacan":{"stockId":3000000023665,"type":"f_nlacan","f_nv_d":"2026-05-26T16:00:00.000Z","f_nv":1.0071,"f_nv_cr":0.0002979737783077585},"f_as":{"stockId":3000000023665,"type":"f_as","f_tas":57488.7414,"f_tas_d":"2026-03-30T16:00:00.000Z"}},"masterSlaveFunds":[{"_id":3000000023664,"__csrcFundId":15542,"stockCode":"023664","masterFundShortName":"中信保诚稳和利率债债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":23664,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"中信保诚稳和利率债债券(023664)","lastUpdated":"2026-05-01T03:56:51.779Z","name":"中信保诚稳和利率债债券型证券投资基金","pinyin":"zxbcwhllzzqxzqtzjj","fundCollectionId":4000050490000,"setUpAssetScale":399999370.75,"setUpDate":"2025-11-04T16:00:00.000Z","setUpShares":399999370.75,"inceptionDate":"2025-11-06T16:00:00.000Z"}],"bondHoldings":[{"_id":"69e7d7756201787ae12a5a6e","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","fundId":3000000023664,"stockCode":"019792","stockName":"25国债19","holdings":9000,"marketCap":906796,"netValueRatio":0.8038,"lastUpdated":"2026-04-21T20:00:53.468Z"}]},"list":[{"_id":"69e7d5966201787ae129f587","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","stockId":3000000023664,"sao":"2026年一季度，国际方面美伊冲突爆发，油价大幅上涨，全球滞胀风险上升，美联储在降息节奏上保持谨慎，美元指数和美债收益率上行。国内经济在“十五五”开局之年展现出企稳修复态势，出口强势带动生产偏强，内需温和修复，政策前置发力特征明显，投资增速转正，消费表现平稳。通胀方面，受春节错位及假期消费提振影响，CPI同比走高，有色拉动下PPI同比降幅收窄，3月有望转正。  宏观政策方面，两会各项目标符合市场预期，政府工作报告中总量政策导向与经济工作会议基本一致，对内需和科技的重视度依然较高；一季度政策靠前发力，地方专项债发行节奏明显快于去年同期，利于后续形成实物工作量；货币政策方面，央行综合运用逆回购、MLF、买断式逆回购及国债买卖操作等平滑资金面波动，流动性维持合理充裕；同业存款自律管理加强，市场利率定价自律机制要求高于7天逆回购OMO政策利率的同业活期存款规模季度末占比不超过10%-20%，以进一步稳定净息差，对短端资产有一定利好。  从债券市场看，一季度利率债收益率整体呈现区间震荡格局，十年国债收益率在1.75%-1.9%之间波动。1-2月资金面平稳、权益市场有所降温、配置型资金流入带来需求上升带动债市情绪有所升温，曲线走平。3月中东动荡局势引发通胀预期升温，叠加各项宏观数据超出市场预期，长端和超长端有所调整，曲线陡峭化；信用债方面，年初机构配置需求旺盛，信用利差普遍压缩。  本报告期内，本基金主要持仓品种为利率债。投资策略上，一季度债市利多因素有所积累，组合久期随行就市进行灵活调整，力求实现相对稳健的净值表现。未来，我们将继续在回撤控制和收益表现两方面积极投入投研资源，争取为投资人带来良好的持有体验。  展望2026年二季度，美国大选周期的政治博弈或将加剧，中东局势不确定性仍在，全球滞胀风险仍存，美联储政策相机抉择。国内步入传统生产与施工旺季，前期发行的政府债资金有望继续转化为实物工作量，“十五五”重大项目对投资有所支撑，但地缘政治带来的原材料价格大幅上行可能给后续出口带来不确定性。通胀方面，CPI同比或偏震荡，PPI同比继续上行的可能性较大。政策方面，财政继续前置发力，政府债供给有望提速，净融资额相比一季度有所上行，超长期特别国债发行节奏或偏快；在货币和财政协同发力的背景下，货币政策继续保持流动性合理充裕的必要性较强。  债券市场投资方面，基本面缓慢修复，大宗商品价格受外围扰动叠加普遍低库存，从通胀方面影响债券中长端的定价，预计十年国债收益率或在1.75-1.85%之间震荡；信用方面，利率偏震荡的情况下，票息或仍将为组合主要收益来源，但当前短端信用利差已经压缩至历史较低水平，中长期限信用利差或仍有一定压缩空间，在配置时仍需要综合考虑负债端稳定性和个券流动性。","lastUpdated":"2026-04-21T19:52:54.711Z","fund":{"_id":3000000023664,"__csrcFundId":15542,"stockCode":"023664","masterFundShortName":"中信保诚稳和利率债债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":23664,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"中信保诚稳和利率债债券(023664)","lastUpdated":"2026-05-01T03:56:51.779Z","name":"中信保诚稳和利率债债券型证券投资基金","pinyin":"zxbcwhllzzqxzqtzjj","fundCollectionId":4000050490000,"setUpAssetScale":399999370.75,"setUpDate":"2025-11-04T16:00:00.000Z","setUpShares":399999370.75,"inceptionDate":"2025-11-06T16:00:00.000Z","managers":[{"stockCode":"db20766323","stockType":"fund_manager","exchange":"fm","tickerId":251302211080,"name":"杨穆彬"}]},"announcement":{"linkText":"中信保诚稳和利率债债券型证券投资基金2026年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1470238","linkType":"PDF","source":"csrc_pdf"}}]}