这类基金买股票趋势刚开始！创金合信基金黄弢：内需股已具有逆向配置逻辑

Core Viewpoint - The article discusses the increasing interest of bond-type fund managers in enhancing the flexibility of product net values amid optimistic market sentiment and the growing attractiveness of equity assets [1][2]. Group 1: Market Dynamics - The decline in market volatility is encouraging more funds to enter the market, with the 10-year government bond yield returning to around 1.6%, leading to asset allocation concerns among institutional and individual investors [3]. - Since September of the previous year, there has been a significant increase in investors' risk appetite, and the involvement of stabilizing funds has contributed to reduced volatility in the A-share market [3]. Group 2: Investment Strategies - The investment strategy of the fund emphasizes a contrarian approach and value investing, focusing on low drawdown and stable returns by integrating macroeconomic judgments with individual stock valuations and earnings [4]. - The current investment framework includes adjusting overall stock positions based on macroeconomic assessments, adjusting industry weights based on mid-level economic conditions, and selecting leading stocks for diversified holdings [4]. Group 3: Sector Preferences - The fund manager prefers to focus on industry selection rather than individual stock picking, maintaining a balanced industry allocation while being responsive to changes in industry conditions and valuation [8]. - The fund is particularly optimistic about sectors related to domestic consumption, healthcare, midstream manufacturing, and cyclical recovery, which are expected to see a resurgence in the latter half of the year [9]. Group 4: Consumer Trends - The article highlights a strong performance in the new consumption sector, which is seen as a unique bright spot amid overall consumption recovery, driven by new product categories and companies with strong operational capabilities [10][11].