homepersonal finance NewsWith 42 in 473 fund managers, women gravely under represented in ₹50 lakh crore mutual fund industry
With 42 in 473 fund managers, women gravely under-represented in ₹50 lakh crore mutual fund industry
Across 21 fund houses, only five fund houses have three or more women managers. In terms of consistency, ten fund managers have consistently managed funds for five years or more.
In a groundbreaking year for the mutual fund industry, breaching the ₹50 lakh crore mark in assets under management (AUM), the latest report by Morningstar India reveals a stark gender imbalance among fund managers. With total AUM soaring to ₹52.74 lakh crore, the report highlights the under-representation of women in this flourishing sector. The representation of women fund managers slightly decreased from 9.18% till January 2023 to 8.88% till January 2024.
| Fund Mangers | Total Fund Managers in the Industry | % of Women Fund Managers | Total Assets Managed by Women Fund Managers | AUM of Open- and Closed-End Funds | % of Overall Assets |
| Male | 431 | 8.88% | 6,66,173 | 52,74,001 | 12.63% |
| Female | 42 | ||||
| Total | 473 | ||||
| Source: Morningstar Direct. Open-end and closed-end mutual funds and exchange traded funds are considered. Data as of Jan. 31, 2024. | |||||
Of the 473 fund managers steering these assets, only 42 are women in primary or secondary managerial roles, maintaining a stagnant figure despite an overall increase in the number of fund managers from 428 last year.
In terms of total assets, funds managed or co-managed by women amount to approximately ₹6.66 lakh crore, constituting 12.63% of the industry's total assets. Despite a dip in assets managed by women in January 2023, attributed to key exits, women exhibited a remarkable 50% growth, managing a substantial ₹2.86 lakh crores in the equity or growth asset class.
| Category | AUM | AUM Managed byWomen FundManagers | Weight as a % ofOverall AUMManaged byWomen | Weight as % ofAssets Managed byWomen |
| Fixed Income | ₹8,85,979 crore | ₹83,863 crore | 12.6% | 9.5% |
| Overnight, Liquid | ₹5,15,459 crore | ₹83,014 crore | 12.5% | 16.1% |
| Growth | ₹2,254,552 crore | ₹2,86,336 crore | 43.0% | 12.7% |
| Allocation | ₹6,91,193 crore | ₹1,68,866 crore | 25.3% | 24.4% |
| Solution | ₹43,226 crore | 0.0% | 0.0% | |
| Other (ETFs andGlobal Funds) | ₹8,83,591 crore | ₹44,095 crore | 6.6% | 5.0% |
| ₹52,74,001 crore | ₹6,66,173 crore | 100% | ||
| Source: Morningstar Direct. Open-end and closed-end mutual funds and exchange traded funds are considered. Data as of Jan. 31, 2024. | ||||
The performance of female fund managers is noteworthy. The report suggests that 70% assets managed by women outperform the peer group average over one year, 71% over three years, and an impressive 93.5% over five years.
Among the 42 female fund managers, spread across 21 fund houses, only five fund houses boast three or more women managers. In terms of consistency, ten fund managers have consistently managed funds for five years or more.
(Edited by : Keshav Singh Chundawat)
First Published: Mar 6, 2024 10:12 AM IST
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