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图25、2001-2004年金融资产CAGR达7.1%
图25、2001-2004年金融资产CAGR达7.1%
行业数据
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非银金融行业公募基金国际比较系列七:长期牛市和机构化共同重塑资配行为——美国篇-260624(28页).pdf
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2026-07-29
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2021-2025年公司收入CAGR为24.8%
fCDlubTku70gfCDokKXkuJrmgLvmlLblhaXvvIjkur/lhYPvvIkgfCDlkIzmr5Tlop7pgJ8gfAp8IDotLS0gfCA6LS0tIHwgOi0tLSB8CnwgMjAxOUEgfCDnuqYgNjYgfCDigJQgfAp8IDIwMjBBIHwg57qmIDkzIHwg57qmIDQxJSB8CnwgMjAyMUEgfCDnuqYgMTI0IHwg57qmIDMzJSB8CnwgMjAyMkEgfCDnuqYgMTQxIHwg57qmIDE0JSB8CnwgMjAyM0EgfCDnuqYgMTc1IHwg57qmIDI0JSB8CnwgMjAyNEEgfCDnuqYgMjQ3IHwg57qmIDQxJSB8CnwgMjAyNUEgfCDnuqYgMzA0IHwg57qmIDIzJSB8CgoqKui1hOaWmeadpea6kO+8mmlGaW5k77yM5Zu96IGU5rCR55Sf6K+B5Yi456CU56m25omAKio=
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行业数据
2026-07-21
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2021-2025年公司归母净利润CAGR为26.9%
fCDlubTku70gfCDlvZLmr43lh4DliKnmtqbvvIjkur/lhYPvvIkgfCDlkIzmr5Tlop7pgJ8gfAp8IDotLS0gfCA6LS0tIHwgOi0tLSB8CnwgMjAxOUEgfCA3LjIgfCDigJQgfAp8IDIwMjBBIHwgOC41IHwgMTguMSUgfAp8IDIwMjFBIHwgOS44IHwgMTUuMyUgfAp8IDIwMjJBIHwgMTEuMyB8IDE1LjMlIHwKfCAyMDIzQSB8IDE2LjIgfCA0My40JSB8CnwgMjAyNEEgfCAyMS4zIHwgMzEuNSUgfAp8IDIwMjVBIHwgMjUuNiB8IDIwLjIlIHwKCui1hOaWmeadpea6kO+8mmlGaW5k77yM5Zu96IGU5rCR55Sf6K+B5Yi456CU56m25omA
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2026-07-21
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全球电动化汽车动力电池装机量(CAGR45.5%)
fCDlubTku70gfCDlhajnkIN4RVbnlLXmsaDoo4XmnLrph48gKEdXaCkgfAp8Oi0tLS06fDotLS0tLS0tLS0tLS0tLS0tLS0tLS0tOnwKfCAyMDE3IHwgNTkgfAp8IDIwMTggfCAxMDAgfAp8IDIwMTkgfCAxMTggfAp8IDIwMjAgfCAxNDggfAp8IDIwMjEgfCAzMDggfAp8IDIwMjIgfCA1MTUgfAp8IDIwMjMgfCA3MTAgfAp8IDIwMjQgfCA5MDEgfAp8IDIwMjUgfCAxMTg3IHwKCioq6LWE5paZ5p2l5rqQ77yaU05FIFJlc2VhcmNo77yM6KW/6YOo6K+B5Yi456CU5Y+R5Lit5b+DKio=
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行业数据
2026-07-21
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2021-2025年HEICO归母净利润CAGR为17%
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fCDlubTku70gfCDokKXkuJrmlLblhaXvvIjkur/nvo7lhYPvvIkgfCBZb1nvvIgl77yJIHwKfC0tLS0tLXwtLS0tLS0tLS0tLS0tLS0tLS18LS0tLS0tLS0tLXwKfCAyMDIwIHwgMTggICAgICAgICAgICAgICB8IC0gICAgICAgIHwKfCAyMDIxIHwgMTkgICAgICAgICAgICAgICB8IDUgICAgICAgIHwKfCAyMDIyIHwgMjIgICAgICAgICAgICAgICB8IDIwICAgICAgIHwKfCAyMDIzIHwgMzAgICAgICAgICAgICAgICB8IDM1ICAgICAgIHwKfCAyMDI0IHwgMzkgICAgICAgICAgICAgICB8IDMwICAgICAgIHwKfCAyMDI1IHwgNDUgICAgICAgICAgICAgICB8IDIwICAgICAgIHwKCui1hOaWmeadpea6kO+8mmlGaW5E77yM5Y2O5rOw56CU56m2
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2026-07-20
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2026-07-20
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从金融资产结构来看,尽管本轮低利率周期中美股表现相对疲软,但在投资行为机构化趋势持续加深的支撑下,保本与弹性账户的比例基本稳定在 3:1 区间。2001-2004 年期间,居民直接持股渠道呈现明显的净卖出态势,公司股权及其他权益类资产分别累计净卖出 0.40 万亿和 0.01 万亿美元,导致公司股权占金融资产的比例下滑 1.20pct 至 17.4%。然而,养老金计划凭借自动扣缴机制实现持续净流入,期间内累计净买入 2.17万亿美元;共同基金则凭借分散投资、专业管理、低门槛及每日估值等核心优势,获得居民累计净买入 0.48万亿美元。若要进一步捕捉本轮周期中居民风险偏好的演变,须穿透至养老金账户的底层资产进行观察。鉴于美联储披露的养老金权益项无法直接穿透,我们转而以居民持有的 DC 计划和 IRA 中共同基金现金净流量为观察口径,分析其权益类基金的申赎情况。受2000-2002 年股市下跌冲击,DC计划与 IRA在共同基金中的权益类净流入随市场波动明显放缓,居民风险偏好出现阶段性下移;直至后期伴随着股市回暖,权益类净流入规模才有所提升。
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非银金融行业公募基金国际比较系列七:长期牛市和机构化共同重塑资配行为——美国篇-260624(28页).pdf
2026年居民资产配置研究报告:低利率时期美国居民资产配置演变复盘,长期牛市与机构化重塑财富管理逻辑
非银金融行业公募基金国际比较系列七:长期牛市和机构化共同重塑资配行为——美国篇-260624
亿美元,%,pct)
表1、1900年以来五段低利率时期美股修复情况
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