大成夏高管偏债基金了？招商银行勇于尝鲜

市场资讯09-08

来源：十五的投资笔记　　本周基金统计出来没有特别的亮点，于是我找其它数据源核对了一下。我看到别人都有大成智享，我为啥没有统计出来呢？拿着疑问咨询AI，它说按我的设定，默认是过滤掉偏债基金的。我吃了一惊，怎么夏高不是权益的基金经理吗？多数管的是指数、股票、灵活配置这些，不是程序搞错了？　　我先找到夏高的经历，看了一下，没有记错啊，时长超过一年的都是指数或主动偏股。今年3月才发行的一只偏债基金也还...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohunote.com/m/news/2665340211?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-09-08 14:57","share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","id":"2665340211","market":"sg","top_or_hot":-1,"title":"大成夏高管偏债基金了？招商银行勇于尝鲜","media":"市场资讯","content":"<div>\n<p>来源：十五的投资笔记\n　　本周基金统计出来没有特别的亮点，于是我找其它数据源核对了一下。我看到别人都有大成智享，我为啥没有统计出来呢？拿着疑问咨询AI，它说按我的设定，默认是过滤掉偏债基金的。我吃了一惊，怎么夏高不是权益的基金经理吗？多数管的是指数、股票、灵活配置这些，不是程序搞错了？\n　　我先找到夏高的经历，看了一下，没有记错啊，时长超过一年的都是指数或主动偏股。今年3月才发行的一只偏债基金也还...</p>\n\n<a href=\"https://finance.sina.com.cn/money/fund/2026-09-08/doc-inirayqu9261180.shtml\">网页链接</a>\n\n</div>\n","source":"sina","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>大成夏高管偏债基金了？招商银行勇于尝鲜</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n大成夏高管偏债基金了？招商银行勇于尝鲜\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-08 14:57 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/money/fund/2026-09-08/doc-inirayqu9261180.shtml><strong>市场资讯</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>来源：十五的投资笔记\n　　本周基金统计出来没有特别的亮点，于是我找其它数据源核对了一下。我看到别人都有大成智享，我为啥没有统计出来呢？拿着疑问咨询AI，它说按我的设定，默认是过滤掉偏债基金的。我吃了一惊，怎么夏高不是权益的基金经理吗？多数管的是指数、股票、灵活配置这些，不是程序搞错了？\n　　我先找到夏高的经历，看了一下，没有记错啊，时长超过一年的都是指数或主动偏股。今年3月才发行的一只偏债基金也还...</p>\n\n<a href=\"https://finance.sina.com.cn/money/fund/2026-09-08/doc-inirayqu9261180.shtml\">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":"LU1008478684.HKD","symbol_name":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (HKD) ACC","start_time":0,"source_url":"https://finance.sina.com.cn/money/fund/2026-09-08/doc-inirayqu9261180.shtml","article_id":"2665340211","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2665340211","pubTimestamp":1788850620,"columns":[],"sourceInfo":{"source_id":"sina","name":"sina"},"weMediaInfo":null,"summary":"我看到别人都有大成智享，我为啥没有统计出来呢？我吃了一惊，怎么夏高不是权益的基金经理吗？我先找到夏高的经历，看了一下，没有记错啊，时长超过一年的都是指数或主动偏股。我又核实了一下招募说明书，大成智享还真是一只偏债型基金。我又看了比较基准，确实是偏债基金。70%左右是债券，而夏高并没有管理债券的经历。十五注意到，这两只产品都是招商托管，大成智享已经在招商APP上架了。看来，还得是银行啊，他们的客户敢于尝鲜。","collect":0,"end_time":0,"defaultTopTitle":"sina.com.cn","property":[],"viewcount":null,"language":"zh","relate_stocks":{"600036":"招商银行","LU1008478684.HKD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (HKD) ACC","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","LU1226287529.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) ACC","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","03968":"招商银行","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","LU0589944569.HKD":"ALLIANZ EMERGING ASIA EQUITY \"AT\" (HKD) ACC","LU2476274308.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (USD) ACC","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU0051755006.USD":"摩根大通中国A (dist)","HK0000352291.HKD":"VALUE PARTNERS ASIAN INCOME \"A\" (HKD) INC","LU0918141887.USD":"安联亚洲实际收益股票基金","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU1282648689.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AMG\" (USD) INC","LU1675838814.USD":"AB SICAV I - EMERGING MARKETS LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","IE00BVYPNP33.GBP":"GUINNESS ASIAN EQUITY INCOME \"C\" (GBP) ACC","BK1231":"综合性银行","BK1521":"挪威政府全球养老基金持仓","LU1993786604.SGD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (SGD) ACC","LU0140636845.USD":"施罗德大中华区股票A Acc","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","IE00BZ08YR35.GBP":"GUINNESS BEST OF CHINA \"C\" (GBP) ACC","LU2213484517.USD":"FRANKLIN TEMPLETON CHINA A-SHARES \"A\" (USD) ACC","BK0070":"员工持股","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","LU0737861699.HKD":"FIDELITY CHINA FOCUS \"A \" (HKD) ACC","BK0012":"证金概念","03143":"华夏香港银行股","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU2289578879.USD":"ALLIANZ CHINA A OPPORTUNITIES \"AT\" (USD) ACC","HK0000181138.USD":"DA CHENG CHINA BALANCED \"A\" (USD) INC","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","BK0015":"沪股通50","IE00B031J352.USD":"FSSA GREATER CHINA GROWTH \"I\" (USD) INC","LU1224709979.USD":"FIDELITY CHINA FOCUS \"A\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC"},"translate_title":"Is Dachengxia a senior management bond fund? China Merchants Bank is brave enough to try new things","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"600036":1.5,"03143":0.6,"03968":1.5},"content_text":"来源：十五的投资笔记\n　　本周基金统计出来没有特别的亮点，于是我找其它数据源核对了一下。我看到别人都有大成智享，我为啥没有统计出来呢？拿着疑问咨询AI，它说按我的设定，默认是过滤掉偏债基金的。我吃了一惊，怎么夏高不是权益的基金经理吗？多数管的是指数、股票、灵活配置这些，不是程序搞错了？\n　　我先找到夏高的经历，看了一下，没有记错啊，时长超过一年的都是指数或主动偏股。今年3月才发行的一只偏债基金也还没业绩，又发行一只偏债的么？\n\n　　（数据据截至9月7日）\n　　我又核实了一下招募说明书，大成智享还真是一只偏债型基金。\n\n　　我又看了比较基准，确实是偏债基金。\n\n　　70%左右是债券，而夏高并没有管理债券的经历。一般来说，这种偏债基金或是双基金经理，一债一权搭配，更多的时候是债券基金往偏债走，这种由纯权益向偏债走的，还是比较少见的。且今年才发行的偏债也还没有业绩啊？是谁在前赴后继呢？十五注意到，这两只产品都是招商托管，大成智享已经在招商APP上架了。看来，还得是银行啊，他们的客户敢于尝鲜。\n\n　　例行回顾一下本周新基金发行市场：\n　　一、本周新发基金 · 按投资类型统计\n\n　　二、筛选方法：漏斗模型\n　　Gate 3 延后观察债券/固收+（混合债二级、偏债混合、混合型FOF）。\n　　Gate 2 主动基金按名称关键词筛选稀缺新赛道；指数基金按被跟踪基金数量判定稀缺度（0只=稀缺，1~5只=稀少，>5只=暂不观察）。\n　　Gate 1 主动经理从业>=5年；指数基金拉跟踪标的 PE/PB 近5年历史分位。\n　　说明（Gate 1 经理年限口径）：基金经理从业年限取“主基金经理、即列在第一名的基金经理”的管理年限判定是否≥5年（而非取团队最资深者），其余经理透明列出但不参与判定。数据源（Wind）可能将多位经理合并至单个单元格（如“张三，李四”）且仅提供一个年限值，脚本已做拆分处理：合并姓名按逗号、顿号、斜杠拆为多位，Wind 给定的单一年限值归属首位（第一名）经理，如查询失败，标注为“未知”。 \n　　三、主动基金：经理年限（Gate 1）\n\n　　四、指数基金：稀缺度 + 跟踪标的 PE/PB 近5年分位\n\n　　五、最终结论\n　　重点观察：158063.OF 南方创业板算力基础设施ETF（创业板算力，被跟踪0只·稀缺，PE 分位 9.8%、PB 分位 14.4%），稀缺度较高且估值相对合理。\n　　可纳入观察（稀缺+估值非高位）：158063.OF 南方创业板算力基础设施ETF（稀缺，PE分位9.8%）、158055.OF 国泰创业板算力基础设施ETF（稀缺，PE分位9.8%）、158062.OF 建信创业板金融科技ETF（稀缺，PE分位40.2%）、158052.OF 景顺长城创业板金融科技ETF（稀缺，PE分位40.2%）、158058.OF 华泰柏瑞创业板金融科技ETF（稀缺，PE分位40.2%）、028859.OF 国泰海通中证港股通医疗主题指数A（稀缺，PE分位51.0%）\n　　主动基金纳入观察（经理从业>=5年）：028973.OF 朱雀消费动力A（5.5534年）\n　　主动基金延后观察（经理从业不足5年）：028982.OF 路博迈红利量化选股A（2.5699年）、028577.OF 易方达智远量化选股A（1.011年）、027512.OF 华泰保兴均衡回报A（3.6904年）\n　　统计区间2026-09-07 ~ 2026-09-11 · 漏斗式筛选 · 数据来源：万得\n　　本报告仅供研究参考，不构成投资建议。\n\nMACD金叉信号形成，这些股涨势不错！","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","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; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"isLaohu8Offline":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2665340211","isCrawlerRequest":true}