As of Aug 14 the equity private‑fund exposure index stood at 83.97%, up
marginally week‑on‑week. 70.39% of equity private funds are >80% invested;
17.87% at 50–80%; 7.75% at 20–50%; 3.99% below 20%. Positioning shows clear
buy‑the‑dip behavior: during July’s sharp tech sell‑off managers increased
exposure for five consecutive weeks, rising from 82.0% on June 26 to a
year‑to‑date peak of 84.53% on July 31. After a strong market rebound in the
first week of August funds slowed adding and exposure fell to 83.88%, but
positions ticked up again in the second week as volatility resumed, led by large
private‑fund buying.