自由现金流策略受关注 公募机构持续布局

Group 1 - The first batch of CSI All Share Free Cash Flow ETFs is set to be listed, with two public fund companies announcing their launch on May 16 [1] - The free cash flow strategy is gaining market attention due to its ability to select companies with strong risk resistance and stable operating performance, which tend to perform steadily during market fluctuations [1][4] - Investors are expected to continue increasing their demand for securities with good cash flow performance, driven by regulatory encouragement for companies to focus on free cash flow quality and returns [1][4] Group 2 - Free cash flow is defined as the cash net amount available for discretionary use after capital expenditures, reflecting a company's ability to generate cash [2] - The CSI All Share Free Cash Flow ETF tracks an index that selects 100 listed companies with high free cash flow rates, aiming to represent the overall performance of companies with strong cash flow generation capabilities [2] - As of May 14, eight ETFs have been established, with personal investors holding over 70% of the fund shares in these products, and some products having personal investor holdings exceeding 95% [2] Group 3 - Personal investors frequently appear in the top ten fund share holder lists of multiple CSI All Share Free Cash Flow ETFs, indicating strong interest from this demographic [3] - Public fund companies are actively applying for related connection funds while promoting the issuance and listing of the CSI All Share Free Cash Flow ETFs [3] Group 4 - The development of index-based investment is thriving, with various free cash flow indices being launched, which has sparked widespread market interest in the free cash flow strategy [4] - The appeal of the free cash flow strategy lies in its ability to select companies with strong risk resistance and stable performance, making it suitable for long-term investment [4] - Companies with sustained positive free cash flow are likely to have healthy and mature business models, which can better withstand economic cycles and provide shareholder returns over the long term [4]