百亿私募大幅加仓！增量资金持续进场，这一数据创近4年新高

Core Viewpoint - The A-share market is experiencing a significant upward trend, with the Shanghai Composite Index reaching a 10-year high, leading to a notable increase in private equity fund allocations [1] Group 1: Private Equity Fund Activity - As of August 15, 2025, the stock private equity position index rose to 74.86%, indicating a strong willingness to increase positions among private equity funds [2][3] - The number of newly registered private equity funds in July reached 1,689, with a total scale of 107.43 billion yuan, marking a nearly four-year high for monthly registrations [2][5] - The large-scale private equity funds (over 10 billion yuan) significantly increased their positions, with their position index climbing to 82.29%, the largest weekly increase of the year [3][4] Group 2: Reasons for Increased Allocations - The increase in private equity allocations is attributed to four main factors: a favorable market environment, optimistic investor sentiment, the emergence of structural opportunities in sectors like AI and healthcare, and the visible profit-making effects from previous market performance [4][12] - The overall sentiment in the market is shifting towards a higher risk appetite, as evidenced by the significant increase in full-position private equity funds, which rose to 61.97% from 37.16% [3][4] Group 3: Monthly Registration Data - In July 2025, the newly registered private equity securities investment funds amounted to 79.28 billion yuan, a 163.8% increase from June [11] - The total new registration scale for private equity funds in July was 107.43 billion yuan, a 114.6% increase compared to June [5][11] Group 4: Market Conditions and Trends - The current market conditions are characterized by ample liquidity, with M2 growth rebounding to 12.5% and significant foreign capital inflows [12] - The market is experiencing a structural divergence, with only 20% of stocks outperforming the index, indicating a concentration of funds in high-growth sectors [12][13]