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在过去一年里,证券投资基金走过四季风云:总仓逐步增加,持仓呈现一季度高、二、三季度逐步降低,四季度逐步增加的脉络;增长预期引导行业配置。其四季变迁与基金经理对我国宏观经济的认识和整体投资思路密切相关。如今,时序已迈过严冬进入又一崭新的春天,在2006年这样一个大变革时代,证券投资基金又会演绎出怎样的新思路、新策略?为此我们期望通过对2005年基金变阵背后投资思路的分析,推演出2006年基金可能的投资思路。
In the past year, the securities investment funds have gone through four seasons: the total positions have gradually increased, the positions showed a high quarter, the gradual decrease in the second and third quarters and the gradual increase in the fourth quarter; the growth expectation has led to the allocation of industries. The four seasons change is closely related to the fund manager’s understanding of China’s macro-economy and the overall investment thinking. Today, the timing has entered the winter has entered another new spring, in 2006 such an era of great change, securities investment funds will deduce what kind of new ideas, new strategies? To this end, we expect through the 2005 fund changes behind Investment ideas analysis, deduced the 2006 fund possible investment ideas.