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变，我们对2026年的市场仍然比较乐观。随着存款利率的大幅下调，2026年国内投资真正进入到低利率时代，也真正进入资产荒时代。我们认为AI相关主题仍然是2026年布局的重点，包括AI算力建设的几个瓶颈点：光模块、存储、电力电源。这三条主线虽然经历了一定幅度上涨，但细分行业基本面坚实、企业利润能够不断验证，仍然需要重视。此外随着大模型的不断成熟，海外及国内大厂正在多方面尝试AI应用，以实现商业闭环。所以2026年AI应用、机器人也是值得关注的核心主题。在看好科技主线的同时，我们也会积极关注有色等资源品的投资机会。在美联储继续降息的大背景下，考虑供需格局，我们看好工业金属在2026年的表现。对于黄金等贵金属来说，虽然难以精确定价，但考虑到逆全球化的趋势和更加复杂的全球政治格局，黄金已经成为全球排名第二的储备货币，在全球资产配置中的比例可能会进一步上升。综合来说，2026年我们关注的核心主线是科技与资源。最后，我们也会持续关注经济基本面的走势，如果经济有见底企稳的预期，化工等周期品与消费等板块可能也会有较好的投资机会。在低利率时代如何投资？核心解决方案之一是公募FOF基金。对于中低风险偏好的投资者，通过低风险FOF来构建多资产组合（包括国内权益、海外权益、债、商品）进行投资，具有更高的投资性价比。对于高风险偏好投资者，通过权益型FOF，在投资A股权益资产的同时，还可以加入适当比例的商品资产（如黄金、工业金属期货等）、境外权益（如港股、美股、欧股等），在获得更高预期收益的同时，通过资产分散、策略分散来进一步降低组合波动，分散投资风险。","fund":{"_id":3000000024276,"__csrcFundId":15262,"stockCode":"024276","masterFundShortName":"汇添富养老目标日期2060五年持有混合发起式（FOF）","fundSecondLevel":"fof","stockType":"fund","areaCode":"cn","market":"a","tickerId":24276,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"汇添富养老目标日期2060五年持有混合发起式（FOF）(024276)","lastUpdated":"2026-05-01T04:10:56.333Z","name":"汇添富养老目标日期2060五年持有期混合型发起式基金中基金（FOF）","pinyin":"htfylmbrq2060wncyqhhxfqsjjzjj(fof)","setUpAssetScale":22119312.36,"setUpDate":"2025-07-15T16:00:00.000Z","setUpShares":22119312.36,"inceptionDate":"2025-07-17T16:00:00.000Z","pensionTargetFlag":1,"managers":[{"stockCode":"db20759638","stockType":"fund_manager","exchange":"fm","tickerId":1202200590,"name":"李彪"}]}},{"_id":"69aed3fb7fea5b3eb05438be","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-27T16:00:00.000Z","stockId":3000000024276,"sao":"三季度权益市场表现较好，以沪深300、中证800为代表的宽基指数大幅上涨。同时市场分化也持续扩大，科技板块包括TMT、电力设备新能源、创新药表现突出，有色板块大幅上涨，红利板块维持震荡。市场整体风险偏好较高，高景气的细分板块如算力、电池等形成局部热点。整体看市场结构性行情依然持续，这与我们在中报中的判断比较一致。三季度债市持续下行，部分是因为“股债跷跷板效应”，因为经济基本面相对平稳，并没有较大变化。去年9月份以来，我们对权益市场整体比较乐观，因此三季度保持了相对较高权益仓位。同时基于对结构性行情的判断，我们增加了科技板块的头寸，适当降低了价值及红利型基金的仓位。同时在科技板块内部，如算力、创新药、新能源等细分主题，我们也进行了持仓比例的动态调整。我们希望在长期坚持资产相对分散、风格相对均衡的基础上，基于资产之间的性价比和市场环境进行动态调整，力求平衡组合的进攻和防守、收益和风险。","lastUpdated":"2026-03-09T14:06:51.471Z","fund":{"_id":3000000024276,"__csrcFundId":15262,"stockCode":"024276","masterFundShortName":"汇添富养老目标日期2060五年持有混合发起式（FOF）","fundSecondLevel":"fof","stockType":"fund","areaCode":"cn","market":"a","tickerId":24276,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"汇添富养老目标日期2060五年持有混合发起式（FOF）(024276)","lastUpdated":"2026-05-01T04:10:56.333Z","name":"汇添富养老目标日期2060五年持有期混合型发起式基金中基金（FOF）","pinyin":"htfylmbrq2060wncyqhhxfqsjjzjj(fof)","setUpAssetScale":22119312.36,"setUpDate":"2025-07-15T16:00:00.000Z","setUpShares":22119312.36,"inceptionDate":"2025-07-17T16:00:00.000Z","pensionTargetFlag":1,"managers":[{"stockCode":"db20759638","stockType":"fund_manager","exchange":"fm","tickerId":1202200590,"name":"李彪"}]}}]}