富国基金朱少醒旗下基金年报：重仓制造业，药明康德(603259.SH)获加仓

智通财经04-01

智通财经APP获悉，3月31日，朱少醒管理的富国天惠精选成长混合型证券投资基金(LOF)披露2025年年度报。年报显示，富国天惠精选成长前十大重仓股分别为：宁波银行(002142.SZ)、杰瑞股份(002353.SZ)、宁德时代(300750.SZ)、贵州茅台(600519.SH)、春风动力(603129.SH)、中创智领(601717.SH)、紫金矿业(601899.SH)、瑞丰新材(...

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href=http://www.zhitongcaijing.com/content/detail/1424183.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，3月31日，朱少醒管理的富国天惠精选成长混合型证券投资基金(LOF)披露2025年年度报。年报显示，富国天惠精选成长前十大重仓股分别为：宁波银行(002142.SZ)、杰瑞股份(002353.SZ)、宁德时代(300750.SZ)、贵州茅台(600519.SH)、春风动力(603129.SH)、中创智领(601717.SH)、紫金矿业(601899.SH)、瑞丰新材(...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1424183.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2488822045.USD","symbol_name":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) 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(603259.SH) received additional positions","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"603259":1.5,"02359":1.5},"content_text":"智通财经APP获悉，3月31日，朱少醒管理的富国天惠精选成长混合型证券投资基金(LOF)披露2025年年度报。年报显示，富国天惠精选成长前十大重仓股分别为：宁波银行(002142.SZ)、杰瑞股份(002353.SZ)、宁德时代(300750.SZ)、贵州茅台(600519.SH)、春风动力(603129.SH)、中创智领(601717.SH)、紫金矿业(601899.SH)、瑞丰新材(300910.SZ)、国瓷材料(300285.SZ)、徐工机械(000425.SZ)。其中，紫金矿业和徐工机械新进入十大重仓，而贵州茅台则遭减持。第11名至第20名重仓股依次为：赛轮轮胎(601058.SH)、滨江集团(002244.SH)、骄成超声(688392.SH)、继峰股份(603997.SH)、立讯精密(002475.SZ)、思泉新材(301489.SZ)、农产品(000061.SZ)、药明康德(603259.SH)、泽璟制药(688266.SH)、寒武纪(688256.SH)。从持仓动向看，赛轮轮胎、思泉新材、药明康德、泽璟制药、寒武纪获进一步加仓，而滨江集团、骄成超声、立讯精密遭减持。行业分布方面，富国天惠精选成长重仓制造业，公允价值达163.74亿元，占基金资产净值比例72.82%。其次分别为金融业、采矿业及信息传输、软件和信息技术服务业，分别占比7.70%、3.73%及2.72%。业绩表现上，报告期内，基金份额净值富国天惠成长混合(LOF)A/B为2.9087元，富国天惠成长混合(LOF)C为2.8046元，富国天惠成长混合(LOF)D为2.9091元；份额累计净值富国天惠成长混合(LOF)A/B为5.9567元，富国天惠成长混合(LOF)C为3.1096元，富国天惠成长混合(LOF)D为2.9091元；报告期，基金份额净值增长率情况：富国天惠成长混合(LOF)A/B 为 20.03%，富国天惠成长混合(LOF)C 为 19.07%，富国天惠成长混合(LOF)D 为20.04%；同期业绩比较基准收益率情况：富国天惠成长混合(LOF)A/B为11.92%，富国天惠成长混合(LOF)C为11.92%，富国天惠成长混合(LOF)D为11.92%。朱少醒在年报中分析称，2025市场投资热度大幅上升，投资热点扩散。TMT是贯穿全年的板块行情，光模块超额收益极其显著。有色板块是全年的行情。创新药的阶段性收益也非常明显。不在主题热点的优质公司估值扩张不明显，但股价也在业绩的驱动下中枢稳步抬升。2025年的实体经济还在筑底后的缓慢复苏中，出口全年表现出色，消费和房地产依然低迷。货币政策保持在较宽松状态，财政政策偏积极。9.24的一系列积极政策极大程度地扭转了投资者极度悲观的预期，投资者风险偏好大幅提升。本基金属成长基金，全年保持了较高仓位，组合偏向经营稳健、质地优良的股票上，行业、风格配置均衡。展望2026 年，朱少醒认为实体复苏的态势将延续。未来一段时间再起贸易冲突的风险概率有所下降，外部环境或迎来宝贵的缓和窗口期。当然中美的长期激烈竞争态势不会发生改变。今年出口业将面临更多的挑战，静态观察的地产行业数据依然乏善可陈。放到全年来看，他认为没必要继续悲观。消费的回升时间上可能会滞后，但积极的一面是龙头企业的产业升级进程迅速，大量上市公司的全球竞争力显著增强。最终企业才是科技竞争和贸易竞争的主力军。朱少醒指出，经过2025年的全面上涨，市场整体估值有显著抬升，部分热门板块甚至已经泡沫隐现。但市场整体是在经历连续几年下行后的反转，整体估值依然在合理区间，尤其是不在风口的大量优质公司估值更有吸引力。结合债券收益率水平，当前权益依然还是最有吸引力的资产类别。个股选择层面，本基金偏好投资于具有良好“企业基因”，公司治理结构完善、管理层优秀的企业。分享企业自身增长带来的资本市场收益是成长型基金取得收益的最好途径。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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