While women are taking charge in 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 women fund managers in India. There are 399 fund managers in the Indian mutual fund industry. These 32 women fund managers are either managing the fund as primary/secondary managers or overseeing the equity/debt heads. Last year the number was 30.
Interestingly, the total number of fund managers has seen a significant increase this year. Last year the head count was 376. With only 8% representation, women are still under-represented in the ranks of mutual fund managers. That said, representation in percentage terms has been increasing over the past two years, though only marginally.
In 2017, there were only 18 women fund managers in the industry. It increased to 24 in 2018, 29 in 2019, then decreased to 28 in 2020 and again increased to 30 in 2021, followed by 32 in 2022.
As per a Morningstar report, the total open and closed-end assets managed by women fund managers is around Rs 4.55 lakh crore, which is 12% of the total mutual fund assets. Over the years, while the wealth managed by women has been on the rise, in terms of the percentage of overall industry wealth, this number is nothing to boast about. Last year the number was 13.5%.
From the perspective of assets managed across different asset classes, out of the total open and closed-end fund assets managed by women (4.55 lakh crore), about 2.19 lakh crore (48%) were fixed income funds (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 solutions et al. The category grew to 0.02 lakh crore (0.6%).
The report reveals that of the total open-ended assets managed by women fund managers, 69% of AUM outperformed the peer group average on a one-year basis, with 96% of AUM outperforming on a three-year basis. and 69% did better. AUM outperformed on a five-year basis.
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