最后，施罗德投资认为，可以寻找分散投资的机会。市场焦点并非全在AI，2025年已显示出分散投资 于不同地域的好处，而价值型投资在美国以外地区亦表现良好。新兴市场债券提供的动态及实质收益率 均优于已发展市场债券。 此外，保险相连证券(ILS)和基建债务等多元投资或可提供收益机会。流动对冲基金策略亦可提供在维 持投资的同时加倍分散投资的途径。 至于个别股票风险问题，仍然看到超大规模云端服务供应商有实现收入的潜力。施罗德投资正在监察这 些巨型市值公司的投资回报，因为它们已从"现金流巨擘"演变为"资本支出大户"；此外该行亦在观察大 型语言模型和云端运算公司的表现，以反映新技术应用及普及情况。 总结而言，在个股的层面仍看到投资机会。关键在于，是基于详尽分析公司基本面而审慎地承担此风 险，而非因为某只股票在指数中的权重。 智通财经APP获悉，施罗德投资首席投资总监Johanna Kyrklund指，踏入2026年，市场对股票估值充满 忧虑。超大规模云端服务供应商对数据中心和云端基础建设进行大量投资，与此同时，许多人工智能初 创公司仍录得亏损，其估值则由供应商融资所推高。该行仍预期股票将带来正面回报，并可分散投资于 不同地 ...

MSCI (NYSE:MSCI) 2025 Conference December 02, 2025 10:55 AM ET Company ParticipantsAndy Wiechmann - CFOConference Call ParticipantsAlex Kramm - AnalystAlex KrammRight. Hello everyone. Thank you very much. I'm Alex Kramm, Senior Research Analyst at UBS, covering exchanges and business services. With me here to kick off my portion of the program is Andy Wiechmann, CFO at MSCI. Thanks for being here in.Andy WiechmannOf course.Alex KrammScottsdale for the first time.Andy WiechmannGreat to be here. Amazing event ...

Core Insights - AWS announced new partnerships with several companies during the re:Invent 2025 conference, aiming to enhance cloud services and improve operational efficiencies [1][2] Group 1: Partnerships and Collaborations - AWS partnered with CrowdStrike to launch an enhanced SaaS quick-start service for its Falcon advanced security incident management platform, aimed at simplifying deployment and reducing costs for AWS customers [1] - The collaboration with BlackRock involves integrating the Aladdin investment management platform into AWS, providing clients with more options for deploying their technology ecosystems [1] - S&P Global's partnership with AWS will allow clients to leverage AI agents for complex inquiries related to markets, finance, and energy through new model integration [2] Group 2: Efficiency and Sustainability Initiatives - AWS and Trane Technologies aim to improve energy efficiency by 15% across over 30 Amazon food distribution centers, aligning with Amazon's sustainability goals [2] - The partnership with Visa focuses on supporting developers and businesses in building autonomous commerce systems, with the Visa Intelligent Commerce platform now available on AWS Marketplace [2]

Core Insights - The investment market is showing strong performance for 2025, but investors face a complex environment as 2026 approaches, with increasing risks from overpaying for high expectations [1] - Schroders emphasizes three main strategies: income, capital growth, and convertible bonds, to capture global capital growth and income opportunities while addressing market uncertainties [2][4] Group 1: Market Overview - The U.S. stock market currently represents nearly two-thirds of the MSCI All Country World Index, raising concerns about concentration [1] - Recent estimates indicate that capital expenditures related to business model transformations in the U.S. have risen from $3 trillion to a concerning $5 trillion, equivalent to one-sixth of the U.S. economy [2] Group 2: Fixed Income Market - By early 2030, U.S. debt as a percentage of GDP is expected to surpass that of Italy, indicating a significant trend that could impact market dynamics [2] - The anticipated trajectory of U.S. short-term interest rates, influenced by fiscal stimulus and rapid advancements in artificial intelligence, may heighten inflation risks and lead to a steeper yield curve [2] Group 3: Investment Strategies - In the "income" pillar, Schroders has shifted away from U.S. credit, investing instead in securitized debt, Australian investment-grade bonds, and selectively high-quality emerging market bonds [3] - The "capital growth" strategy involves a broad equity market allocation, with a focus on banking, industrial, and materials sectors, while maintaining a lower allocation to tech giants and U.S. stocks [3] - The allocation to convertible bonds has been increased, focusing on capturing asset allocation opportunities that traditional markets may not provide, with an emphasis on international markets and cyclical value companies [3] Group 4: Future Outlook - The focus for 2026 is on a diversified mixed investment strategy that prioritizes income while avoiding overpaying for capital growth, aiming to build a robust portfolio capable of achieving capital growth and stable returns in any market condition [4]

本报讯(记者袁传玺)天眼查工商信息显示，近日，山东海化（000822）集团投资有限公司成立，注册资 本1亿元，经营范围包括自有资金投资的资产管理服务、以自有资金从事投资活动、企业管理、社会经 济咨询服务等。股东信息显示，该公司由山东海化集团有限公司全资持股。 ...

Group 1: BYD Performance - BYD announced a production of 474,200 new energy vehicles (NEVs) and sales of 480,200 NEVs in November 2025 [1] - Cumulative production for the year reached 4,117,600 units, representing a year-on-year increase of 7.29% [1] - Cumulative sales for the year totaled 4,182,000 units, with a year-on-year growth of 11.30% [1] - In November, BYD exported 131,900 NEVs and installed approximately 27.669 GWh of power batteries and energy storage batteries [1] Group 2: Investment Initiatives - Lushin Venture Capital plans to establish a 400 million yuan investment fund focusing on life sciences, advanced manufacturing, and AI [2] - Chint Electric's wholly-owned subsidiary intends to invest up to 201 million yuan in a green private equity investment fund with a total scale of 700 million yuan [8] Group 3: Corporate Actions - Qianwei Central Kitchen will conduct a shareholder reward activity, offering a product package worth 200 yuan to individual shareholders holding 100 shares or more [3] - Huaxia Happiness plans to use trust beneficiary rights to offset financial debts totaling up to 24 billion yuan as part of its debt restructuring plan [4] - Tailong Pharmaceutical's controlling shareholder is planning a share transfer, leading to a temporary suspension of the company's stock [5] - ST Xianhe has applied to revoke other risk warnings, pending approval from the Shenzhen Stock Exchange [6] - *ST Yuancheng's stock will be delisted due to a market value below 500 million yuan for 20 consecutive trading days [7] Group 4: Sales and Contracts - SAIC Group reported sales of 4,108,000 vehicles from January to November 2025, a year-on-year increase of 16.4% [10] - Geely Automobile's total sales in November reached 310,428 units, marking a 24% increase year-on-year [11] - Far East Holdings' subsidiaries secured contracts worth 2.383 billion yuan in November, positively impacting future earnings [18] - Samsung Medical's subsidiary signed a contract for an annual bidding project in Indonesia worth approximately 160 million yuan [19] - Zhongchao Holdings' subsidiaries recently won contracts totaling 1.318 billion yuan [20] - Changhua Group received a project development notice from a domestic automaker, with an expected total sales amount of approximately 732 million yuan [21]

北京商报讯(记者刘宇阳)12月1日，北京商报记者获悉，北京盛景嘉成投资管理有限公司(以下简称"盛景 嘉成")于近日在中国银行间债券市场成功发行"北京盛景嘉成投资管理有限公司2025年度第一期定向科 技创新债券(分担工具)"。 公开信息显示，作为我国本土具有代表性的民营股权投资机构之一，截至今年10月，盛景嘉成管理规模 超130亿元人民币。 据了解，该产品是第二批获得中国人民银行科技创新债券风险分担工具支持的民营股权投资机构发行的 科创债。本期债券注册总规模4亿元，首期发行规模2亿元，首期发行期限"5+5"年。 盛景嘉成创始合伙人刘昊飞表示，盛景嘉成此次发行科创债的募集资金，将主要用于联合社会资本和地 方政府引导基金共同设立科创类基金，精准匹配科技型企业的长期资金需求。公司将继续坚持战略定 力，坚定不移投早、投小、投硬科技，依托独创的AI RaaS(结果导向型AI企业服务模式)方法论，进一 步放大资金的赋能实效。 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 11月28日，2025分析师大会举行。半夏投资创始人李蓓出席本次大会并发表主题演讲。李蓓表示，当下 的富人正身处一个特殊的时期，核心痛点可概括为八个字——财富无处安放，安全难有保障。 专题：2025分析师大会：资本市场"奥斯卡"启幕 对于备受关注的房地产市场，李蓓给出了辩证判断："若将房地产视为纯粹的消费品，其居住属性已开 始体现相应价值；但如果仍作为投资品来看，当前的租金回报水平依然缺乏足够吸引力，难以成为高净 值人群资产配置的优质选择。" 责任编辑：常福强 李蓓的论述直击高净值人群的资产配置焦虑。她进一步拆解道，从国内市场来看，曾经作为富人资产配 置"压舱石"的固定收益类资产，尤其是非标资产，正面临双重冲击：一方面利率持续下行再下台阶，收 益空间不断被压缩；另一方面非标资产供给逐渐断供，传统配置渠道持续收窄。 ...

美国投资大师查理·芒格逝世两周年之际，曾与他朝夕相处的亲人和商界伙伴一齐发声，描绘出芒格生命最后时刻的温暖故事。 总结来说，在最后的时间里，芒格押注了职业生涯中鲜少涉足的题材，并豪赚超过5000万美元；还加大了房地产领域的投资，与一位偶然 寻求他人生建议的年轻邻居合作买下近万套房产；同时直面身体的衰老，并选择以自己喜欢的生活方式（虽然并不健康）过完了这一生。 芒格的家人和朋友也表示，他繁忙的最后岁月也提供了一份蓝图： 投资者如何优雅、平和且有目标地老去 。 生命不息、投资不止 在生命的最后10年里，已减少参与伯克希尔事务，和巴菲特维持每一两周通话。 与选择一辈子住在奥马哈老宅里的巴菲特类似，芒格也选择住在洛杉矶一套连空调都没有的老房子里。由于两位大师都有听力问题，打起电 话来颇为困难。 芒格的外孙媳妇惠特妮·杰克逊说：" 两人会对着对方高声喊叫。他们的对话原本该是私密的，但一英里范围内的任何人都能听到。 " 除了跟巴菲特定期交流外，年近9旬的芒格将注意力转向了其他的事业。他曾是零售巨头好市多的董事会成员，去世时还持有价值约1亿美元 的股票。他还投资了李录的喜马拉雅资本，以及位于美国、澳大利亚的一些小型投资公司 ...

智通财经APP讯，欣天科技(300615.SZ)公告，公司与陈宬签署了《财产份额转让协议书》，公司以自有 资金1元受让陈宬持有深圳市联道禧悦投资合伙企业(有限合伙)(简称"联道禧悦")99.0099%的财产份额 (对应的认缴出资额为100万元，实缴出资额为0元)。同时,公司与联道禧悦的执行事务合伙人深圳市联道 资产管理有限公司(简称"联道资产")签署《深圳市联道禧悦投资合伙企业(有限合伙)合伙协议》，公司 以自有资金3000万元对联道禧悦进行增资及实缴。本次受让及增资完成后,合伙企业的总认缴出资规模 为3001万元。其中,公司作为有限合伙人,认缴出资3000万元，占合伙企业总认缴出资额的99.967%;深圳 市联道资产管理有限公司作为普通合伙人暨执行事务合伙人、基金管理人,认缴出资1万元，占合伙企业 总认缴出资额的0.033%。该合伙企业主要投资于新一代信息技术、新能源、新材料、高端制造、国产 替代等新质生产力领域。 ...