一键打包优质“现金牛”企业，长城沪深300自由现金流指数正在发行中

Core Viewpoint - The effectiveness of free cash flow strategies in investment is expected to gradually increase in the current environment, driven by policies aimed at reducing competition and the Federal Reserve's potential interest rate cuts, which may accelerate the return of national wealth [1][5]. Group 1: Free Cash Flow Strategy - The free cash flow strategy is anticipated to yield higher excess returns as industries with improved free cash flow may recover more quickly [1]. - Long-term views suggest that assets with stable free cash flow can provide both defensive value and growth potential, with high dividend potential and resilience during recovery cycles [1][5]. Group 2: Fund Launch and Index Tracking - Changcheng Fund has launched the Changcheng CSI Free Cash Flow Index Fund, following the establishment of the Changcheng National CSI Free Cash Flow Index Fund in August [1][5]. - The fund tracks the CSI 300 Free Cash Flow Index, selecting 50 high free cash flow rate stocks from the CSI 300 index, focusing on large-cap blue-chip companies [2][6]. Group 3: Index Characteristics and Performance - The CSI 300 Free Cash Flow Index has a median market capitalization of 170 billion, featuring companies with lower debt ratios and higher return on equity, indicating superior profitability and dividend potential [2][6]. - As of November 12, 2025, the index's dividend yield is 3.75%, outperforming other similar indices [2][6]. - Since 2014, the index has shown a cumulative increase of 431.17% and an annualized return of 15.58%, significantly outperforming the CSI Dividend and CSI A500 indices [3][7].