基(ji)金(jin)(jin)市場概(gai)況：整(zheng)體規模來(lai)看，存量(liang)穩中有升(sheng)(sheng)，增(zeng)量(liang)有所(suo)下滑。截至2019年一季(ji)度(du)末，公(gong)募基(ji)金(jin)(jin)數量(liang)為5335只，份額(e)為13.2萬億(yi)(yi)份，資產凈(jing)值13.6萬億(yi)(yi)元，較(jiao)上季(ji)度(du)提升(sheng)(sheng)4.8%。一季(ji)度(du)基(ji)金(jin)(jin)發行份額(e)有所(suo)下降(jiang)，股票型基(ji)金(jin)(jin)降(jiang)幅明(ming)顯(xian)。結構變動來(lai)看，除(chu)另類基(ji)金(jin)(jin)外，其他基(ji)金(jin)(jin)規模全面上升(sheng)(sheng)。

　　板(ban)(ban)塊配(pei)(pei)置(zhi)：從板(ban)(ban)塊配(pei)(pei)置(zhi)占比(bi)來看，2019年(nian)一季(ji)度，主板(ban)(ban)繼續回(hui)落，中小板(ban)(ban)由降轉升，創業(ye)板(ban)(ban)由升轉降。從板(ban)(ban)塊超(chao)(chao)(chao)配(pei)(pei)比(bi)例來看，主板(ban)(ban)低配(pei)(pei)、中小板(ban)(ban)超(chao)(chao)(chao)配(pei)(pei)擴大，創業(ye)板(ban)(ban)超(chao)(chao)(chao)配(pei)(pei)收窄，對比(bi)歷史數據唯有創業(ye)板(ban)(ban)或留有一定增配(pei)(pei)空(kong)間(jian)。

　　行(xing)(xing)業(ye)配置：消費(fei)、保險顯著加(jia)倉(cang)(cang)(cang)，銀行(xing)(xing)地(di)(di)產(chan)與周期類(lei)有(you)所減倉(cang)(cang)(cang)。2019年一(yi)季度基金(jin)重倉(cang)(cang)(cang)的前五(wu)大(da)行(xing)(xing)業(ye)分別(bie)是食品飲料(liao)、醫藥生(sheng)物、電(dian)子、非銀金(jin)融(rong)和(he)(he)房地(di)(di)產(chan)，鋼鐵、采掘、綜合(he)、紡織服裝和(he)(he)建筑(zhu)裝飾倉(cang)(cang)(cang)位最低(di)。2019年一(yi)季度加(jia)倉(cang)(cang)(cang)的行(xing)(xing)業(ye)有(you)10個，加(jia)倉(cang)(cang)(cang)幅度最大(da)的前五(wu)大(da)行(xing)(xing)業(ye)分別(bie)是食品飲料(liao)、農(nong)林牧漁、非銀金(jin)融(rong)、計算(suan)機和(he)(he)家(jia)用(yong)電(dian)器，減倉(cang)(cang)(cang)幅度最大(da)的五(wu)個行(xing)(xing)業(ye)分別(bie)是公用(yong)事業(ye)、房地(di)(di)產(chan)、銀行(xing)(xing)、有(you)色金(jin)屬和(he)(he)化(hua)工。

　　重(zhong)倉(cang)個(ge)股(gu)(gu)(gu)：2019年(nian)一季度(du)(du)(du)(du)基金(jin)重(zhong)倉(cang)的個(ge)股(gu)(gu)(gu)多(duo)為(wei)消費股(gu)(gu)(gu)，前10大重(zhong)倉(cang)股(gu)(gu)(gu)中(zhong)(zhong)多(duo)達7只(zhi)。中(zhong)(zhong)國(guo)平安蟬聯重(zhong)倉(cang)股(gu)(gu)(gu)首位，其次是貴州茅臺(tai)(tai)、招商銀(yin)行(xing)(xing)、五糧(liang)液、伊利股(gu)(gu)(gu)份(fen)等。從(cong)加倉(cang)和減(jian)倉(cang)幅(fu)度(du)(du)(du)(du)來看，食品飲料（白酒(jiu)為(wei)主）、農(nong)林牧漁的行(xing)(xing)業(ye)龍頭(tou)，醫藥(yao)生物、電子的績(ji)優個(ge)股(gu)(gu)(gu)最受追捧，銀(yin)行(xing)(xing)及周期(qi)類行(xing)(xing)業(ye)減(jian)倉(cang)顯(xian)著。2019年(nian)一季度(du)(du)(du)(du)，基金(jin)加倉(cang)幅(fu)度(du)(du)(du)(du)較高的個(ge)股(gu)(gu)(gu)有(you)(you)中(zhong)(zhong)國(guo)平安、五糧(liang)液、貴州茅臺(tai)(tai)、溫氏股(gu)(gu)(gu)份(fen)和恒瑞醫藥(yao)等，遭遇(yu)公募基金(jin)大幅(fu)減(jian)倉(cang)的個(ge)股(gu)(gu)(gu)有(you)(you)中(zhong)(zhong)國(guo)中(zhong)(zhong)鐵(tie)、中(zhong)(zhong)國(guo)中(zhong)(zhong)車、中(zhong)(zhong)國(guo)石油、農(nong)業(ye)銀(yin)行(xing)(xing)和中(zhong)(zhong)國(guo)石化等。2019年(nian)一季度(du)(du)(du)(du)基金(jin)重(zhong)倉(cang)持股(gu)(gu)(gu)集(ji)中(zhong)(zhong)度(du)(du)(du)(du)有(you)(you)顯(xian)著提升。（黎旅(lv)嘉(jia) 整(zheng)理）