干货满满！专业“基金买手”2026投资“藏宝图”出炉

Core Insights - The article emphasizes that professional fund managers are proactively preparing for investment opportunities in 2026 by focusing on strategic adjustments, planning, and direction selection [1][3] Group 1: Investment Strategies - Fund managers are moving away from simple "stock-bond pairing" to embrace a more diversified, dynamic, and global asset allocation strategy [1][7] - The focus is on three main themes: "technology, cycles, and consumption," with a "core-satellite" strategy being employed to optimize portfolios [1][9] - The approach to year-end adjustments is characterized as a structural optimization aimed at long-term gains rather than short-term rankings [3][4] Group 2: Specific Adjustments and Trends - Recent adjustments include increasing exposure to traditional industries that are undervalued and cyclical, such as real estate, while reducing positions in high-performing tech stocks [3][4] - Some institutions are adopting a more aggressive stance by increasing allocations to innovative technology and pharmaceuticals, focusing on "computing power + application" as key areas for future performance [4][9] - The adjustments are seen as a systematic "check-up" process, ensuring core holdings are robust while optimizing satellite positions to benefit from global recovery and domestic policy support [4][5] Group 3: Market Outlook for 2026 - The investment outlook for 2026 is cautious yet optimistic, with expectations of a shift from liquidity-driven markets to a focus on fundamental performance [9] - Key investment opportunities are identified in technology innovation, "anti-involution" policies, and the recovery of consumer spending, particularly in sectors like travel, healthcare, and new consumption trends [9][10] - The anticipated recovery in upstream resource products is linked to "anti-involution" policies, which are expected to improve supply-demand dynamics and profitability in various sectors [10]