Core Viewpoint - The market for free cash flow index funds is experiencing a significant surge in new fund establishments, with a total of 41 funds launched since July, bringing the total number of such funds to 73 as of August 8 [1][2]. Fund Establishment Trends - As of August 8, 2023, 41 new free cash flow index funds have been established since July, marking the highest establishment peak since their inception [1][2]. - The first free cash flow index fund was established in February 2023, with a smaller peak of 19 funds in April. The number of new funds decreased in May and June but surged to 32 in July [2]. - The variety of indices tracked by these funds has also expanded, now including six different indices, such as the CSI 500 Free Cash Flow Index [2]. Fund Size and Performance - Among the 73 free cash flow index funds, 12 have raised over 1 billion yuan, with seven of these being established since July. Notable funds include the Huabao CSI 300 Free Cash Flow ETF with 1.689 billion yuan and the Jiashi National Index Free Cash Flow ETF with 1.436 billion yuan [3]. - The average return of free cash flow index funds that have been operating for over three months is approximately 4.05%, with several funds exceeding 10% returns [5]. Market Dynamics and Investment Strategy - The free cash flow index emphasizes the cash flow attributes of constituent stocks, focusing on companies that generate substantial cash flow after necessary expenses, thus avoiding high-leverage financial risks [4]. - Over 35 public funds have already entered the free cash flow index fund space, indicating a growing trend in this investment strategy [4]. - The current inflow of funds into free cash flow ETFs has not significantly impacted the prices of underlying stocks, suggesting that there is still room for market allocation without causing excessive trading or price distortion [6][7].
自由现金流指数基金大爆发 七月以来已成立四十一只
Zheng Quan Shi Bao·2025-08-10 17:37