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国泰基金胡松:金牛实力,逆势笃行
Zhong Zheng Wang· 2026-01-16 09:48
天地俯仰从容处,时势动静皆宜时。 市场周期的起伏更迭,恰似一场历时多年的淬火试炼,其间市场情绪如潮汐般往复。唯有那些历经多轮完 整周期、积淀深厚的基金管理人,才能在极端情绪的切换中保持清醒,逐步打磨出稳健而灵活的投资体系, 从容应对不同市场环境,最终为投资者赢得穿越时间的回报。 国泰基金胡松正是其中代表之一。身为国泰基金养老金投资总监、养老金及专户投资部负责人,胡松拥 有超过二十年的金融从业沉淀与十五年投资实战经验。在多轮市场周期的洗礼中,他积累了宝贵的市场 感知与应对智慧,淬炼出扎实而沉静的投资功力,在跌宕起伏中始终锚定长期价值的航向。 稳健实力,逆势笃行 市场认可的背后,是胡松二十余年投资经验的持续迭代。其代表作国泰金鹏蓝筹混合和国泰金盛充分体 现了胡松的投研实力。 自2020年9月任职至2025年12月31日,国泰金鹏蓝筹混合任职回报70.03%,同期沪深300上涨1.47%,超额收 益近70%。真正让胡松获得投资者深度信任的是在2023年,在多重负面因素交织的复杂行情下,沪深300指 数全年跌幅达11.38%,而国泰金鹏蓝筹却逆势斩获1.13%的正收益,充分彰显了其投资策略在下行周期中 的抗风险韧性与 ...
牛市中期震荡,或应选择老将
Xin Lang Ji Jin· 2025-10-22 08:31
Core Viewpoint - The current market is characterized by a period of oscillation and differentiation, moving away from the previous bull market's straightforward upward momentum, indicating a need for more selective investment strategies [2][3]. Market Conditions - The Shanghai Composite Index is experiencing fluctuations around the 3900-point mark, with a shift in market dynamics from a collective rise to a more segmented performance [2]. - The market is showing signs of structural opportunities, with some high-valuation sectors undergoing adjustments while new opportunities emerge [2]. Investment Strategy - The current market environment requires a more cautious approach, moving away from aggressive trading strategies to a focus on selecting experienced fund managers who can navigate through market volatility [3]. - Trust in seasoned fund managers, like Hu Song from Guotai Fund, is emphasized as a key factor for investors looking to capitalize on market opportunities during this complex phase [3][4]. Fund Performance - Hu Song's fund, Guotai Jinpeng Blue Chip, achieved positive returns during the bear market of 2023, contrasting with the 11.38% decline of the CSI 300 index [4][5]. - Guotai Jinsheng, managed by Hu Song, has reported a year-to-date return of 50.73%, significantly outperforming the CSI 300 index and its benchmark [7]. - Since its inception in February 2024, Guotai Jinsheng has delivered a total return of 55.36% and an annualized return of 30.33% [7]. Future Outlook - Hu Song remains optimistic about a "slow bull" market trend, anticipating a gradual upward adjustment of the index amid improving market conditions [8]. - The domestic market is supported by a combination of stabilizing fundamentals and liquidity easing, while external factors, such as the U.S. Federal Reserve's interest rate cuts, are expected to enhance market risk appetite [9]. - The long-term outlook suggests continued market strength driven by the internationalization of the RMB and improving corporate earnings [9].