硬核赛道如何投？大类资产如何配置？2026博时基金投资策略会干货分享

Core Viewpoint - The 2026 investment strategy conference hosted by Bosera Fund emphasized the importance of macroeconomic trends and investment opportunities in various sectors, including technology and fixed income, amidst a complex global environment [3][4][6]. Group 1: Macroeconomic Outlook - Bosera Fund's chairman highlighted that China's economic stability and continued openness will enhance the attractiveness of RMB assets globally [4]. - The upcoming "15th Five-Year Plan" will focus on technology innovation, green transformation, and rural revitalization, injecting continuous industrial momentum into the capital market [4]. - The coordination of fiscal and monetary policies is expected to be more flexible and precise, aiming for a dynamic balance between growth stabilization, transformation promotion, and risk prevention [4]. Group 2: Investment Strategies - The equity market presents structural opportunities, particularly in sectors like technology independence, energy transition, and consumer recovery, where companies with real competitiveness will continue to be revalued [7]. - The bond market remains valuable for allocation, with the role of interest rate bonds and high-grade credit bonds acting as stabilizers in a low-interest-rate environment [7]. - Asset allocation should focus on balance and flexibility, transitioning from "single Beta" to "multiple Alpha," allowing investors to seek low-correlation combinations across various asset classes [7]. Group 3: Sector-Specific Insights - The conference featured insights from industry experts on global macroeconomic trends, liquidity, and the impact of AI on capital markets [8]. - Bosera Fund's Chief Investment Officer discussed the importance of understanding industry trends for successful technology investments, identifying two key valuation phases in the growth of tech companies [8][10]. - Key investment opportunities in 2026 are expected to focus on artificial intelligence, particularly in areas like overseas computing power, domestic computing power, and AI large models [10]. Group 4: Asset Allocation Recommendations - Bosera Fund's senior investment director emphasized the potential for multi-asset allocation, predicting that "fixed income plus" strategies may perform better in 2026 [11]. - The report anticipates a slight increase in fiscal policy expansion and a stable low-interest-rate environment, with a focus on liquidity and the impact of various economic factors on market performance [13]. - The report also noted that while the A-share market may experience more rotation, the Hong Kong stock market remains attractive due to its relative valuation [14].