Market Trends - The market is experiencing a rotation of funds from technology stocks to undervalued sectors such as liquor and coal, indicating a shift in investor sentiment [1] - The technology sector is expected to rebound after recent adjustments, prompting selective buying opportunities [1] Investment Strategies - The company has increased its position in TMT (Technology, Media, and Telecommunications) sector-focused funds, anticipating benefits from the ongoing AI wave [3] - A significant investment of 5000 yuan was made in a gold ETF, driven by the metal's strong performance due to geopolitical tensions and expectations of interest rate cuts by the Federal Reserve [4] - The company has also invested in a consumer-focused fund, which combines traditional and emerging consumption sectors, capitalizing on upcoming consumption peaks and government policies aimed at boosting consumer spending [5] Sector Analysis - The renewable energy sector is benefiting from global green transitions, with domestic solar installations expected to exceed 200GW this year [6] - The digital economy, represented by AI and semiconductors, is accelerating growth opportunities for hard-tech companies [6] - The biopharmaceutical sector is entering an innovation cycle supported by favorable policies [6] Portfolio Adjustments - The company is strategically reducing exposure to the photovoltaic sector while maintaining positions in semiconductor and new energy vehicle ETFs, indicating a cautious approach to market fluctuations [9] - The company is focused on managing risk and optimizing portfolio performance through careful position adjustments [9]

"从产品本身看，投资组合的变化是风险等级评估的关键因素。"吴粤宁进一步表示，比如基金大幅增加 权益类资产的配置比例，拉长债券久期、参与衍生品交易等，有可能导致风险等级上升；反之，若基金 收缩高风险资产暴露，则可能风险等级会下降。此外，市场环境变化、基金经理投资策略转向，也会影 响产品潜在风险，促使管理人调整风险等级，确保评级能真实反映产品的风险暴露程度。 此前，多家基金管理人也曾针对旗下产品调整风险等级。 9月30日，西部利得基金公告，根据《证券期货投资者适当性管理办法》《基金募集机构投资者适当性 管理实施指引(试行)》以及公司投资者适当性管理标准和要求，公司对西部利得中证1000指数增强的风 险等级进行了重新评估，并调整了该基金的风险等级，由R3调整为R4。 10月9日，富国基金公告宣布，自10月10日起对旗下31只基金产品的风险等级进行调整，其中28只产品 风险等级上调，3只产品下调。结合近期西部利得基金、中邮创业基金等多家公募机构类似操作，多位 业内人士表示，基金管理人动态调整风险等级，既是对监管合规要求的响应，也是对市场环境变化、产 品运作特征演变的主动适应。 合规要求与产品变化 是调整主因 记者进一 ...