股票私募大幅加仓A股，百亿级梯队仓位逼近90%

Core Viewpoint - The private equity fund market in China has achieved significant growth, with the total number of private securities investment funds exceeding 80,000 and the total scale surpassing 7 trillion yuan for the first time, indicating a strong bullish sentiment towards the A-share market [1][3]. Group 1: Market Growth - As of the end of October 2025, there are 80,214 private securities investment funds with a total scale of 7.01 trillion yuan, marking an increase of over 1 trillion yuan from September [1][3]. - The overall private fund market has expanded to 137,905 funds with a total scale of 22.05 trillion yuan, reflecting an increase of 660 funds and 1.31 trillion yuan from the previous month [3]. - The growth in private securities investment funds is primarily driven by existing funds rather than new registrations, with only 995 new funds registered in October, contributing 429.20 billion yuan [3][5]. Group 2: Factors Driving Growth - The surge in private securities investment fund scale is attributed to three main factors: explosive growth in quantitative strategies, a favorable market environment highlighting structural opportunities in A-shares, and supportive policies that simplify registration processes [5][6]. - The demand for diversified asset allocation has increased, leading to a rise in the registration of multi-asset strategies and derivatives products [5]. - Regulatory improvements have enhanced operational transparency and investor trust, further contributing to the growth of private securities investment funds [5][6]. Group 3: Market Sentiment and Positioning - As of November 21, 2025, the stock private equity position index reached 82.97%, a significant increase of 1.84% from the previous week, indicating a strong bullish sentiment [8][9]. - The proportion of fully invested private equity funds (over 80% allocation) has risen to 68.99%, while lower allocation categories have seen a decline [8][9]. - The optimism among private equity funds is reflected in their high positions across various scales, with the largest funds showing the most confidence, as evidenced by a position index of 89.23% for funds over 100 billion yuan [9].