马年市场怎么走？千亿公募实力“军团”解码2026投资图谱

Core Insights - The event hosted by Huaan Fund from December 15 to 17, themed "Strength as a Saddle, Riding the Momentum," focused on investment opportunities in A-shares, Hong Kong stocks, bonds, indices, and global markets for 2026 [1][2] Group 1: Investment Strategy - Huaan Fund emphasizes a comprehensive professional capability as a foundation for guiding investors through the market, ensuring long-term stability [2] - The investment outlook for 2026 suggests a shift from liquidity-driven to profit-driven market dynamics, with expected improvements in non-financial A-share earnings [2][3] - Key sectors to watch include TMT (Technology, Media, Telecommunications), manufacturing, cyclical consumption, and AI applications [2][8] Group 2: Asset Allocation - The focus on multi-asset allocation is increasing, with gold highlighted as a significant asset class for 2026, alongside attention to the ChiNext 50 and Hong Kong Stock Connect [2] - The bond market is expected to maintain a stable environment, with bond yields having limited downside potential, indicating continued value in bond investments [3][19] Group 3: Research and Development - Huaan Fund is enhancing its core competitiveness through a centralized research platform and diversified investment teams, aiming to optimize research specialization and integration [4][5] - The investment management capability is seen as a core competitive advantage, with a focus on delivering long-term stable returns for investors [4] Group 4: Market Trends - The market is anticipated to experience structural opportunities, particularly in growth sectors such as overseas computing power, domestic innovation, and AI applications [8][9] - The Hong Kong stock market has seen significant earnings downgrades in Q3, with a more conservative outlook for 2026, facing liquidity pressures [11] - A "structural bull" market is believed to be underway, driven by policy support, AI advancements, and the stock market's role as a wealth reservoir [13]