【公募基金】赚钱效应全面扩散——公募基金权益指数跟踪周报（2025.07.14-2025.07.18）

Core Viewpoint - The A-share market continues to rise, with growth style outperforming value style, driven by sectors such as optical modules, innovative drugs, and rare earths [2][15]. Group 1: Equity Market Review and Observation - The A-share market saw the Shanghai Composite Index rise by 0.69%, the CSI 300 by 1.09%, and the ChiNext Index by 3.17% during the week of July 14-18, 2025 [2][15]. - The average daily trading volume in the A-share market increased to 15,462 billion [15]. - The upcoming Politburo meeting is expected to focus on "anti-involution" measures, which may sustain market interest in the short term [3][15]. - The AI industry remains in a high prosperity phase, with domestic model iterations accelerating, potentially boosting the entire AI industry chain [3][16]. - The innovative drug sector is experiencing significant valuation pre-positioning, making it challenging to track investment decisions through company performance [3][18]. Group 2: Public Fund Market Dynamics - The China Securities Index Co., Ltd. announced the launch of the CSI A500 Free Cash Flow Index on July 16, 2025, which will include 50 companies with high free cash flow rates [4][19]. - Free cash flow is a critical indicator of a company's financial health, focusing on firms with stable operations and cash generation capabilities [19]. Group 3: Active Equity Fund Index Performance Tracking - The Active Equity Fund Selection Index rose by 3.42% last week, achieving a cumulative excess return of 12.16% since inception [5][20]. - The Growth Stock Selection Index increased by 4.96%, with a cumulative excess return of 18.83% since inception [8][20]. - The Pharmaceutical Stock Selection Index surged by 9.79%, with a cumulative excess return of 23.77% since inception [9][20]. - The Technology Stock Selection Index rose by 4.92%, achieving a cumulative excess return of 17.21% since inception [11][20].