信息含金量拉满，嘉实基金2026投资策略峰会干货集锦！

Core Insights - The 2026 investment strategy conference hosted by Harvest Fund focused on macro policy trends, equity market layout, ETF evolution, and structural opportunities in the context of "反内卷" (anti-involution) and "扩内需" (expanding domestic demand) [1][35] Market Outlook - The Chinese economy demonstrated significant policy resilience and development stability in 2025, with proactive fiscal and stable monetary policies creating a relatively loose macro environment [3][37] - The equity market in 2026 is expected to experience a rationally optimistic outlook, with potential significant shifts in market style and structure, influenced by domestic demand sectors [3][39] Investment Strategies - Investors are advised to focus on two main opportunities: the "AI+" downstream applications and upstream raw materials, as well as low-position domestic demand sectors benefiting from profit recovery and domestic demand expansion measures [5][39] - The ETF market is anticipated to see explosive growth in 2025, with a focus on dynamic asset allocation to navigate market volatility effectively [5][40] Fixed Income Insights - The fixed income sector remains a cornerstone for asset allocation, with approximately 50 trillion yuan in term deposits maturing in 2026, creating substantial demand for stable fixed income products [5][43] - The current economic environment is characterized by a "K-shaped recovery," necessitating adjustments in bond market analysis frameworks [5][43] Multi-Strategy Approach - A multi-strategy investment approach is essential to adapt to the accelerating market rotation, with a focus on "胜率思维" (probability thinking) to enhance certainty in investment outcomes [5][45] - Harvest Fund has developed a diverse product range to meet varying investor needs, emphasizing both standardized and personalized investment products [5][47] Technology and AI Investment - The "科技AI" (technology and AI) sector is highlighted as a key growth area, with ongoing advancements expected to reshape industry ecosystems [5][49] - Investment in AI is still in its early stages, with significant long-term potential despite current volatility [5][53] Policy-Driven Opportunities - The dual policies of "反内卷" and "扩内需" are seen as central to understanding current and future macroeconomic and industrial changes in China [5][59] - Investors are encouraged to identify structural investment opportunities that benefit from improved competitive environments and potential profit recovery [5][61]