加强险企长周期考核，鼓励中长期资金入市，低费率的自由现金流ETF（159201）获关注

Group 1 - The core viewpoint of the articles highlights the performance of major stock indices, with the Shanghai Composite Index and Shenzhen Component Index both rising by 0.09%, and the ChiNext Index increasing by 0.02% on July 14. The National Index of Free Cash Flow rose over 0.5%, with leading stocks including Shanghai Steel Union, Guodian Nanzi, and Weichai Power [1] - The Ministry of Finance issued a notice on July 11 to guide insurance funds towards long-term stable investments, starting from the 2025 fiscal year. The policy mandates state-owned commercial insurance companies to enhance asset-liability management, optimize asset allocation, and identify quality investment targets with stable cash flow returns [1] - The National Index of Free Cash Flow is designed based on successful overseas products, incorporating domestic market characteristics. It emphasizes quality factors such as liquidity, industry, and ROE stability, with free cash flow rate as the core selection indicator, highlighting the stability of corporate fundamentals and cash flow quality [1] Group 2 - The Free Cash Flow ETF (159201) closely tracks the National Index of Free Cash Flow, selecting stocks with positive and high free cash flow after screening for liquidity, industry, and ROE stability. The index is characterized by high quality and strong risk resistance, making it suitable for long-term investment [2] - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both of which are among the lowest in the market, maximizing benefits for investors [2]