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速水平之上。资金面：中央经济工作会议提到“当前经济发展面临需求收缩、供给冲击、预期转弱三重压力”，宏观政策由“跨周期”转变为“跨周期与逆周期政策结合”，财政、货币政策托底经济力度均有望加码。央行于12月降准0.5%，紧接着商业银行LPR报价利率下调，资金环境有望保持在较为宽松的水平。政策面：中央经济工作会议明确稳增长的基调，未来需观察货币与财政政策发力的节奏。从政策放松到经济企稳通常会有1-2个季度时滞，如果社融增速持续回升，那么需求回暖可能就在二三季度。从企业盈利角度看，A股盈利可能是低个位数增长，但流动性环比出现改善，估值有结构性修复的机会。稳增长大基调下，预计高景气行业与政策扶持方向会是投资的重点。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T14:12:20.853Z","mo":"关于基金运作，在个股配置方面，未来本基金将加大各行业中成长性与估值相对匹配的公司进行配置。在行业配置上，我们坚持较为均衡的行业配置思路，追求通过选股获取合理的超额收益。","fund":{"_id":3000000376510,"stockCode":"376510","stockType":"fund","areaCode":"cn","followedNum":10,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2010-11-21T16:00:00.000Z","setUpScale":1190180000,"market":"a","tickerId":376510,"custody":"中国建设银行股份有限公司","name":"摩根大盘蓝筹股票型证券投资基金","shortName":"摩根大盘蓝筹股票A","fundSecondLevel":"company","__csrcFundId":3043,"fundStatus":"normal","lastUpdated":"2025-01-01T23:59:53.196Z","masterFundFlag":1,"inceptionDate":"2010-12-19T16:00:00.000Z","fundCollectionId":4000050380000,"currency":"CNY","masterFundShortName":"摩根大盘蓝筹股票","pinyin":"mgdplcgpxzqtzjj","managers":[{"stockCode":"8801451542","stockType":"fund_manager","exchange":"fm","tickerId":1208170050,"name":"李恒"}]},"announcement":{"linkText":"上投摩根大盘蓝筹股票型证券投资基金2021年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=714766","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed5447fea5b3eb05585d4","date":"2021-09-29T16:00:00.000Z","stockId":3000000376510,"sao":"2021年三季度，A股整体呈现震荡走势，从风格表现来看，中小市值整体表现占优；以申万行业分类统计来看，有色、采掘、公用事业、钢铁、化工表现居前；休闲服务、食品饮料、医药生物、农林牧渔、通信表现相对落后。基本面方面，三季度地产投资走弱，基建、制造业投资有所企稳。美欧经济在德尔塔病毒的冲击下缓慢复苏。预计年内出口增速仍有韧性，受益于海外需求持续缓慢复苏。基建和制造业投资可能是年内的相对亮点。资金面方面，由于信用紧缩导致社融增速出现明显下降，货币政策偏向宽松，流动性条件有所改善。海外美联储的缩减量化宽松的节奏相对缓慢，货币环境没有发生显著变化。政策面方面，国内货币、财政政策均偏向积极，美国缩减量化宽松逐步落地，财政逐步加码。由于经济增速有下降压力，降准、专项债加速等政策陆续推出，社融增速可能出现企稳回升。美国中期重心仍在经济发展，货币环境大幅紧缩概率不大，财政发力是接下来对基本面的正面贡献因素。关于基金运作，在个股配置方面，未来本基金将加大各行业中成长性与估值相对匹配的公司进行配置。在行业配置上，我们坚持较为均衡的行业配置思路，追求通过选股获取合理的超额收益。","declarationDate":"2021-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T14:12:20.850Z","fund":{"_id":3000000376510,"stockCode":"376510","stockType":"fund","areaCode":"cn","followedNum":10,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2010-11-21T16:00:00.000Z","setUpScale":1190180000,"market":"a","tickerId":376510,"custody":"中国建设银行股份有限公司","name":"摩根大盘蓝筹股票型证券投资基金","shortName":"摩根大盘蓝筹股票A","fundSecondLevel":"company","__csrcFundId":3043,"fundStatus":"normal","lastUpdated":"2025-01-01T23:59:53.196Z","masterFundFlag":1,"inceptionDate":"2010-12-19T16:00:00.000Z","fundCollectionId":4000050380000,"currency":"CNY","masterFundShortName":"摩根大盘蓝筹股票","pinyin":"mgdplcgpxzqtzjj","managers":[{"stockCode":"8801451542","stockType":"fund_manager","exchange":"fm","tickerId":1208170050,"name":"李恒"}]},"announcement":{"linkText":"上投摩根大盘蓝筹股票型证券投资基金2021年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=658725","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed5447fea5b3eb05585d3","date":"2021-06-29T16:00:00.000Z","stockId":3000000376510,"sao":"2021年上半年，A股整体呈现震荡走势，从综合表现来看，创业板涨幅明显占优，以申万行业分类统计来看，钢铁、电气设备、化工、采掘、医药生物表现居前；非银金融、家电、农林牧渔、国防军工、传媒表现相对落后。基本面：总量指标进入经济恢复的后半段，实际GDP同比高点已于一季度出现，进入二季度以来逐步回落；不确定因素更多的来自海外，海外疫情的反复为全球经济的复苏带来不确定性，国内经济的持续复苏也必然受其影响，这是我们要密切关注的。增长结构上，出口最为亮眼，并对国内制造业的生产与投资注入活力；房地产投资增速稳定在较高水平，韧性依然较强；基建投资增速相对较低，因政府以降低地方政府杠杆率为主要抓手实现宏观杠杆率的稳定，财政政策发力减弱；消费结构上分化明显，汽车、通讯器材以及必需消费品已从疫情的影响中恢复，家具家电、纺织等仍有恢复空间。通胀方面，预计二季度为年内上行最快的阶段，三季度通胀指标或高位震荡、逐步回落。政策面：随着国内经济逐季好转，央行的货币政策操作已从“应对疫情下的危机模式”中逐步退出。随着经济的进一步恢复，货币政策状态更趋中性。2020年信用扩张主要来自于政府逆周期政策发力与企业信贷、债券融资需求上升，2021二季度社融存量增速快速回落，三季度将延续回落趋势、降幅趋缓。十四五规划开局年，把握“创新”、“绿色”等关键词。资金面：随着社融、M2增速逐步回落，在流动性方面会感受到有所趋紧，但在通胀水平超预期前，预计政策难以急转弯，因此后期预计流动性大概率维持平稳的局面。","declarationDate":"2021-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:12:20.844Z","mo":"关于基金运作，在个股配置方面，未来本基金将加大各行业中成长性与估值相对匹配的公司进行配置。在行业配置上，我们坚持较为均衡的行业配置思路，追求通过选股获取合理的超额收益。","fund":{"_id":3000000376510,"stockCode":"376510","stockType":"fund","areaCode":"cn","followedNum":10,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2010-11-21T16:00:00.000Z","setUpScale":1190180000,"market":"a","tickerId":376510,"custody":"中国建设银行股份有限公司","name":"摩根大盘蓝筹股票型证券投资基金","shortName":"摩根大盘蓝筹股票A","fundSecondLevel":"company","__csrcFundId":3043,"fundStatus":"normal","lastUpdated":"2025-01-01T23:59:53.196Z","masterFundFlag":1,"inceptionDate":"2010-12-19T16:00:00.000Z","fundCollectionId":4000050380000,"currency":"CNY","masterFundShortName":"摩根大盘蓝筹股票","pinyin":"mgdplcgpxzqtzjj","managers":[{"stockCode":"8801451542","stockType":"fund_manager","exchange":"fm","tickerId":1208170050,"name":"李恒"}]},"announcement":{"linkText":"上投摩根大盘蓝筹股票型证券投资基金2021年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=635180","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed5447fea5b3eb05585d2","stockId":3000000376510,"sao":"2021年第一季度，A股整体呈宽幅震荡走势，沪深300指数先扬后抑，以申万行业分类统计来看，钢铁、公用事业、银行，休闲服务、建筑装饰涨幅居前；国防军工、非银金融、通信、汽车、计算机表现相对落后。基本面上，经济增长方面，由于去年疫情基数的影响，预计实际GDP同比高点将出现在一季度，两会制定全年实际GDP同比增长目标6%以上，为全年的经济增长指明了方向。从增长结构上，出口最为亮眼，并为国内制造业的生产与投资注入活力；房地产投资增速稳定在较高水平，韧性依然较强；消费结构上分化明显，汽车、通讯器材以及必需消费品已从疫情的影响中恢复，家居家电、纺织等仍有恢复空间。PPI、CPI方面，预计二季度将同比持续上行，偏上游行业盈利将继续改善，但部分加工类企业将面临成本上升导致的利润空间受压。政策面上，货币政策整体呈中性，随着国内经济逐季好转，央行的货币政策操作已从“应对疫情下的危机模式”中逐步退出。随着经济的进一步恢复，预计货币政策状态更趋中性，假如二季度通胀有所抬升，不排除短端市场利率中枢小幅上行。逆周期政策预计将减码，2020年信用扩张主要来自于政府逆周期政策发力与企业信贷、债券融资需求上升，今年都将面临减速。预计2021年社融增速将逐步见到拐点，回落2%左右至12%附近。作为十四五规划开局年，“创新”、“绿色”等成为经济的关键词。资金面上，我们认为随着国内经济复苏，海外疫苗注射人群的增加，国内、海外经济均有望迎来逐步复苏。未来随着社融、M2增速逐步回落，在流动性方面会感受到有所趋紧，但在通胀水平超预期前，预计政策难以急转弯，因此流动性大概率维持平稳略紧的格局。关于基金运作，在个股配置方面，未来本基金将加大各行业中成长性与估值相对匹配的公司进行配置。在行业配置上，我们坚持较为均衡的行业配置思路，追求通过选股获取合理的超额收益。","date":"2021-03-30T16:00:00.000Z","declarationDate":"2021-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:12:20.841Z","fund":{"_id":3000000376510,"stockCode":"376510","stockType":"fund","areaCode":"cn","followedNum":10,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2010-11-21T16:00:00.000Z","setUpScale":1190180000,"market":"a","tickerId":376510,"custody":"中国建设银行股份有限公司","name":"摩根大盘蓝筹股票型证券投资基金","shortName":"摩根大盘蓝筹股票A","fundSecondLevel":"company","__csrcFundId":3043,"fundStatus":"normal","lastUpdated":"2025-01-01T23:59:53.196Z","masterFundFlag":1,"inceptionDate":"2010-12-19T16:00:00.000Z","fundCollectionId":4000050380000,"currency":"CNY","masterFundShortName":"摩根大盘蓝筹股票","pinyin":"mgdplcgpxzqtzjj","managers":[{"stockCode":"8801451542","stockType":"fund_manager","exchange":"fm","tickerId":1208170050,"name":"李恒"}]},"announcement":{"linkText":"上投摩根大盘蓝筹股票型证券投资基金2021年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=574861","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed5447fea5b3eb05585d1","stockId":3000000376510,"sao":"2020年，A股整体录得了不错的收益，以申万行业分类统计来看，休闲服务、电气设备，食品饮料、国防军工、医药生物等行业表现涨幅居前；采掘、房地产、建筑装饰、通信、银行表现相对落后。基本面：2020年上半年，一季度整体受疫情的冲击，整个经济活动受影响较大，但随着国内疫情控制的有效实施，经济逐步进入恢复的轨道。尤其进入二季度，政策引导各行业复工复产，国内经济开始走出低谷。工业增加值率先转正，但受出口订单疲弱影响、库存有一定累积。财政政策发力，5月地方专项债集中发行1万亿、6-7月完成另外约1万亿特别国债的发行，从资金端上解决部分基建项目以及稳市场主体的资金来源。进入下半年，国内金融与经济数据持续复苏上行为最大亮点，需求进入复苏通道。预计2021年中国经济将进一步走出疫情冲击，全年实际GDP同比有望恢复到疫情前水平；考虑到今年经济增速逐季上升的情况，高点或将出现在一季度，二季度后增长将逐步回落。通胀总体趋于上行，预计CPI节奏上先下后上，幅度温和；PPI有望在一季度同比转正，是企业盈利改善的积极信号。增长结构上，内生动力增强，制造业投资、可选消费有望强势；全球疫苗积极进展，将有利于服务业修复与出口韧性的保持。资金面：货币政策趋于中性。随着国内经济逐季好转，央行的货币政策操作已从“应对疫情下的危机模式”中逐步退出。随着复苏的确认，进一步宽松的机率降低，但判断亦不具备显著收紧的基础，货币政策状态更趋中性。逆周期政策减码，2020年信用扩张主要自于政府逆周期政策发力与企业信贷、债券融资需求上升，进入2021年后均面临减速。政策面：预计货币政策将相机抉择，财政政策持续发力。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:12:20.837Z","mo":"展望未来，我们认为国内经济逐步复苏的态势确定，中国经济早于全球发达经济体复苏，预计2021年二季度前需求都处于扩张区间；资金面上看，宽信用预计还将延续，政策基调保持稳定；整体而言，优质公司的成长性仍在持续，且在经历此次疫情后，一部分公司的竞争力并没有受到影响，反而有一定的加强，我们继续看好优质公司的持续成长性。关于基金运作，在个股配置方面，未来各个行业的优质公司仍将是本基金配置的重点，在行业配置上，我们坚持较为均衡的行业配置思路，重点通过选股争取合理的超额收益。","fund":{"_id":3000000376510,"stockCode":"376510","stockType":"fund","areaCode":"cn","followedNum":10,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2010-11-21T16:00:00.000Z","setUpScale":1190180000,"market":"a","tickerId":376510,"custody":"中国建设银行股份有限公司","name":"摩根大盘蓝筹股票型证券投资基金","shortName":"摩根大盘蓝筹股票A","fundSecondLevel":"company","__csrcFundId":3043,"fundStatus":"normal","lastUpdated":"2025-01-01T23:59:53.196Z","masterFundFlag":1,"inceptionDate":"2010-12-19T16:00:00.000Z","fundCollectionId":4000050380000,"currency":"CNY","masterFundShortName":"摩根大盘蓝筹股票","pinyin":"mgdplcgpxzqtzjj","managers":[{"stockCode":"8801451542","stockType":"fund_manager","exchange":"fm","tickerId":1208170050,"name":"李恒"}]},"announcement":{"linkText":"上投摩根大盘蓝筹股票型证券投资基金2020年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=560332","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed5447fea5b3eb05585d0","stockId":3000000376510,"sao":"2020年三季度，A股整体录得了不错的受益，以申万行业分类统计来看，休闲服务，国防军工、电气设备、汽车、非银行金融等行业表现相对突出；通信、计算机、商业贸易、传媒、农林牧渔表现相对落后。从基本面看，三季度以来国内金融与经济数据持续复苏上行为最大亮点，需求正处于复苏通道中。美国经济数据也开始好转，唯一的负面因素是欧洲疫情出现反复。但考虑到当前对疫情已有了较成熟的应对方法，预计整体影响显著弱化，未来1-2个季度有望看到内外需共振。从资金面看，货币政策最宽松的时点已经过去，宽信用还在继续。按照M2-名义GDP增速指标，流动性最宽松时点在今年4月，6月以后超额流动性开始收紧。但经济仍在潜在增速以下，宽信用政策依然在路上，经济回到正常水平前，宽信用基调不会变。从政策面看，货币政策相机抉择，财政政策持续发力。央行虽在压制资金空转，但也不愿看到实体需求被误伤，央行持续通过公开市场操作平稳流动性，预计在经济回到潜在增速前，央行宽松的政策基调不会变。财政发力是社融持续超预期的主要因素，预计未来仍会延续。展望未来，我们认为国内经济逐步复苏的态势确定，四季度重点关注两个方面因素对市场的影响：一是美国大选带来的相关舆情对市场的冲击；二是欧洲疫情反复及其他主要经济体的疫情变化；整体而言，我们认为A股估值吸引力仍旧存在，国内优质公司成长的基本盘仍在。关于基金运作，在个股配置方面，未来各个行业的优质公司仍将是本基金配置的重点，在行业配置上，我们坚持较为均衡的行业配置思路，重点通过选股争取合理的超额收益。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-27T16:00:00.000Z","lastUpdated":"2026-03-09T14:12:20.833Z","fund":{"_id":3000000376510,"stockCode":"376510","stockType":"fund","areaCode":"cn","followedNum":10,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2010-11-21T16:00:00.000Z","setUpScale":1190180000,"market":"a","tickerId":376510,"custody":"中国建设银行股份有限公司","name":"摩根大盘蓝筹股票型证券投资基金","shortName":"摩根大盘蓝筹股票A","fundSecondLevel":"company","__csrcFundId":3043,"fundSta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