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The representation of women as fund managers in mutual fund industry remains abysmally low at 28 against the overall strength of 352 even as the government thrusted the responsibility of managing the country’s finance with first full-time woman Finance Minister Nirmala Sitharaman.
In fact, the number of women managing funds dropped from last year’s level of 29 while the overall fund managers level increased to 352 from 345.
With a meagre representation of just eight per cent, the total assets managed by women fund managers works out to about ₹3.59-lakh crore, which is 13 per cent of the total mutual fund assets of ₹27.85-lakh crore as of January-end, according to Morningstar Women Fund Managers Report for 2020.
Of the ₹3.59-lakh crore managed by women fund managers, about ₹1.45-lakh crore (40 per cent) were in debt fund, ₹1.24-lakh crore (35 per cent) were money market funds, ₹79,000 crore (22 per cent) were equity funds and ₹1,000 crore (3 per cent) were allocation funds.
Interestingly, of the total open-ended assets managed by women fund managers, 78 per cent of the AUM outperformed the peer group average over one-year basis, 72 per cent over three-year and 90 per cent over five-year basis.
Some of the experienced female industry stalwarts who have been able to carve out a name for themselves include Roshi Jain of Franklin Templeton Mutual Fund, Sohini Andani, SBI Mutual Fund and Swati Kulkarni, UTI Mutual Fund, according to Morningstar report.
Having joined Franklin Templeton Mutual Fund in May 2005 as a research analyst, Jain has risen ranks to manage funds from across the spectrum. She runs fund house’s one of the most aggressive investment which entails taking contra bets and as a result constructing a relatively concentrated portfolio.
Andani joined SBI in 2007 as the Head of Equity Research and played a pivotal role. Her bent on research, focus on bottom-up stock picking and investments in her high conviction ideas have been delivered good results.
Kulkarni got into fund management at a time when the industry was in a nascent stage. A seasoned manager, Kulkarni has been associated with UTI AMC for over 25 years. She places more emphasis on identifying quality stocks with good corporate governance and not averse to mid-cap stocks.
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