基本功的基,就是基金的基。 做好投资、买对基金, 从夯实投资基金的基本功开始。 1分钟GET一个知识点, 起步更轻松。 扫码进入基本功专栏 持有人新福利！ 参与投票本季心动好书，即可抽 超千元的墨水屏阅读器、姜诚同款阅读支架、读书 月卡、实体书 等悦读好礼，扫码即可直达 本材料不构成投资建议，观点具有时效性。本公司承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不 保证基金一定盈利，也不保证最低收益。投资有风险，基金过往业绩不代表其未来表现。基金管理人管理的基金 的业绩不构成对其他基金业绩表现的保证。投资者投资基金时应认真阅读基金的基金合同、招募说明书、基金产 品资料概要等法律文件。基金管理人提醒投资者基金投资的"买者自负"原则，请投资者根据自身的风险承受能力 选择适合自己的基金产品。基金有风险，投资须谨慎。 如何参与 个人养老金投资? 参加人通过以下步骤 可完成相关操作: 首先,参加人可通过国家社会保险公共服务平台、 全国人社政务服务平台、电子社保卡、商业银行 等渠道 开立个人养老金账户。开户后,可以按月、 第 11月1日 1月1日 11月1日 11月 11 ...

来源：上交所投教视频号 ...

Core Viewpoint - The article emphasizes the importance of investor education and awareness in navigating the complexities of the stock market, highlighting the role of the Shanghai Stock Exchange in providing resources and support for investors [1] Group 1: Industry Insights - The Shanghai Stock Exchange has launched various initiatives aimed at enhancing investor education, including online courses and informational videos [1] - There is a growing trend of retail investors participating in the stock market, which necessitates better educational resources to help them make informed decisions [1] Group 2: Company Initiatives - The company has developed a series of educational materials that cover fundamental investment concepts, risk management, and market analysis [1] - The Shanghai Stock Exchange is actively engaging with investors through social media platforms to disseminate knowledge and updates about market trends [1]

Core Viewpoint - The recent decline in gold prices represents a significant market fluctuation, with international gold prices dropping nearly 10% from a high of $3500 per ounce, leading to a similar trend in domestic gold jewelry prices [2][4]. Group 1: Market Behavior - The phenomenon of buying gold and experiencing immediate losses is common, reflecting the unpredictable nature of investments, whether in gold, stocks, or funds [2][4]. - Historical data shows that gold prices have experienced extreme volatility, with significant increases and decreases over decades, indicating that price fluctuations are a normal part of investment [5]. Group 2: Investment Strategy - The concept of diversification in investment is emphasized, suggesting that investors should not concentrate their assets in one area, but rather understand the logic behind new asset classes before investing [8]. - Investors are encouraged to prepare for potential losses by considering various scenarios before making purchases, which can help in maintaining discipline and avoiding emotional decision-making [11].

2025年5月15日是第十六个全国公安机关打击和防范经济犯罪宣传日。中国人民银行上海总部联合上海市 公安局经侦总队、招商银行上海分行共同制作了反洗钱宣传短剧，提醒广大市民朋友防范洗钱风险，远离 洗钱犯罪，守护好自己的"钱袋子"。 来源：中国人民银行上海总部 持有人新福利！ 参与投票本季心动好书，即可抽 超千元的墨水屏阅读器、姜诚同款阅读支架、读书 月卡、实体书 等悦读好礼，扫码即可直达 ...

Core Viewpoint - The article discusses the rise of new consumption trends in China, particularly among younger consumers, and contrasts them with traditional consumption patterns, emphasizing the sustainability and structural nature of these new demands [3][4][6]. Group 1: New Consumption Trends - New consumption trends, represented by products like blind boxes and cultural creative goods, are rapidly gaining popularity among younger consumers, indicating a shift in consumer behavior [3][4]. - The demand for new consumption is driven by both functional and emotional value, with consumers seeking products that enhance their quality of life and provide emotional satisfaction [5][6]. - The current economic environment has led to a structural change in consumer demand, where consumers are willing to pay more for products that offer higher functionality and emotional value [6][7]. Group 2: Traditional Consumption - Traditional consumption categories such as liquor, food, and household appliances continue to have stable demand due to their essential nature, although their growth may slow down as market saturation occurs [7][8]. - The value provided by traditional consumption remains significant, even if the growth rate declines, as consumers' expectations for a better quality of life persist [7][8]. - Traditional brands can learn from new consumption trends to better engage with younger consumers and adapt their marketing strategies [9][10]. Group 3: Sustainability of Consumption Trends - The sustainability of new consumption trends is supported by historical patterns, where similar trends have emerged in the past, indicating a long-term demand for collectible and emotionally resonant products [6][8]. - The success of new consumption products often depends on their social attributes and the ability to create a strong brand connection with consumers, which can lead to sustained growth [10][11]. - The potential for cross-generational appeal exists if the products maintain their relevance and adapt to changing consumer preferences over time [11][12]. Group 4: Mergers and Acquisitions in Consumer Brands - Mergers and acquisitions can enhance competitive strength in the consumer sector, especially in a stable market where companies seek new growth avenues [18][19]. - Successful acquisitions depend on the long-term profitability of the acquired business and the ability to integrate resources without compromising existing operations [20][21]. - The strategic alignment of acquired brands with the parent company's goals can lead to sustained growth and market expansion [19][21].

来源：上交所投教视频号 ...

Core Viewpoint - The article emphasizes that "fixed income +" products do not necessarily have larger drawdowns compared to pure bond products, highlighting the importance of asset allocation and risk management in achieving long-term returns above average fixed income yields [2][3]. Group 1: Product Performance - The Zhongtai Shuangli Bond A share has achieved a net value growth rate of 9.97% since its establishment on September 27, 2022, outperforming the benchmark yield of 5.93% [3]. - The maximum drawdown for the A share of Zhongtai Shuangli Bond is 0.66%, which is significantly better than the maximum drawdowns of the mixed bond secondary index (4.25%), pure bond fund index (1.31%), and short-term bond fund index (0.89%) [3]. Group 2: Risk Management Strategy - The company employs a dynamic management approach for drawdown control, where the underlying fixed income provides a safety cushion, and risk exposure is adjusted based on risk budget assessments [5]. - The strategy includes preemptive interventions, allowing for some tolerance during initial drawdowns, but increasing the weight of risk evaluation once thresholds are triggered [5]. Group 3: Investment Philosophy - The investment strategy focuses on increasing positions only when market conditions are favorable and maintaining low positions when opportunities are unclear, often keeping high elastic positions at very low levels (0% or 1%) [5][6]. - The company prioritizes protecting clients' risk-return objectives, emphasizing a disciplined approach to investment that considers potential losses before gains [6]. Group 4: New Product Offering - The Zhongtai Shuangxin Six-Month Holding Bond is currently being issued, designed with a six-month holding period to reduce daily redemption impacts and stabilize fund size, allowing for a more focused execution of medium to long-term investment strategies [6].

Group 1 - The core idea emphasizes the importance of foundational knowledge in investing and selecting the right funds, suggesting that solid basic skills are essential for successful investment in funds [2] Group 2 - Certain bond funds can invest in government bond futures, which are futures contracts based on government bonds, highlighting a diversification opportunity within bond investments [3]

但自特朗普1月20日再次当选总统后，他就迫不及待对中国加征关税，2月1日，特朗普宣布对华加征关 税，税率为10％。到了3月份，特朗普继续对中国商品征税，税率又追加了10％。到了4月2日，借全面对 等关税之名，又向中国加征34%的关税，即在上任不到三个月内，累计加征了54%关税。 与上一轮贸易纷争不同的是，这次美方完全是在没有与中方事先沟通的情况下连续对中国加征关税，其加 征关税的理由也显得荒唐可笑。在中国迅速反制之后，美国对中国加征的关税又一路飙升，从84％、 125%到145％。 2018年的中美关税之争，官方从未用"贸易战"这一词，而是 用贸易摩擦或贸易纷争 来描述。但在4月25日 的政治局会议上，首次把中美贸易冲突定性为 "国际经贸斗争" ，既然上升到斗争的高度，那就意味着已 经做好最坏打算了。四月末，我国商务部明确表示，若美方希望重新进行谈判，必须首先取消所有单边关 税。 不过，5月2日商务部新闻发言人就中美经贸对话磋商情况答记者问时回答说，"中方注意到美方高层多次 表态，表示愿与中方就关税问题进行谈判。同时，美方近期通过相关方面多次主动向中方传递信息，希望 与中方谈起来。对此，中方正在进行评估。" ...