Fund manager | There are 399 mutual fund managers in India, but only 8% of them are women

As women take charge of all walks of life, the mutual fund industry has a lot of work to do. A study by Morningstar India shows that there are only 32 female fund managers in India. There are 399 fund managers in the Indian mutual fund industry. These 32 female fund managers manage funds either as primary/secondary managers or oversee as equity/debt managers. Last year, that number was 30.

Interestingly, the total number of fund managers has seen a good increase this year. The number of people was 376 last year. With a meager representation of 8%, women are still underrepresented among mutual fund managers. That said, percentage representation has increased over the past two years, albeit slightly.

In 2017, there were only 18 female fund managers in the industry. This number increased to 24 in 2018, 29 in 2019, then reduced to 28 in 2020 and increased again to 30 in 2021, followed by 32 in 2022.

According to the Morningstar report, the total open and closed assets managed by female fund managers is around Rs 4.55 lakh crore, or 12% of total mutual fund assets. In recent years, while assets managed by women have been on the rise, as a percentage of overall industry assets, that number hasn’t been something to brag about. Last year, this figure was 13.5%.

From the perspective of assets under management in different asset classes, of the total assets of open and closed-end funds managed by women (4.55 lakh crore), approximately Rs 2.19 lakh crore (48%) were funds Fixed Income (excluding Money Market, Liquid and Overnight Funds), Rs 0.81 lakh crore (18%) were Money Market Funds, Liquid and Overnight Funds, Rs 1.12 lakh crore (25%) were equity funds, Rs 0.39 lakh crore (9%) were allocation funds and the solution and other category combined at 0.02 lakh crore (0.6%).

The report shows that of the total open assets managed by female fund managers, 69% of assets under management outperformed the peer group average over one year, 96% of assets under management over three years and 69% assets under management have outperformed over five years.

Dolores W. Simon