Bengaluru: Of the 473 fund managers in India overlooking Rs 50 lakh crore in total assets under management, 8.88% or 42 are women. While this number has remained static in 2024 compared to 2023, the percentage figure has come down from 9.81% in the latter year, a new report by Morningstar Research revealed on Wednesday.
After two prominent exits in November 2022 which led to a dip in total assets managed by female fund managers in 2023, this year saw a sharp 50% uptick in assets managed by women to Rs 4.4 lakh crore, or 12.63% of overall assets in the Indian mutual fund industry.
Furthermore, these funds vary across various asset classes, led by equity/growth assets at Rs 2.86 lakh crore or 43%, followed by the allocation asset class and fixed income at Rs 1.68 lakh crore (25.3%) and Rs 83,863 crore (12.6%), respectively.
“Our analysis reveals that among the total open-ended assets managed or co-managed by female fund managers, 70% outperformed the peer group average over a one-year period, 71% outperformed over a three-year span, and an impressive 93.5% outperformed over five years,” the report highlighted.
These 42 female fund managers were spread across 21 fund houses. About 10 of them have been managing or co-managing funds for five years or more.
The report named Anju Chhajer of Nippon India Mutual Fund, Roshi Jain of HDFC Mutual Fund, Sohini Andani from SBI Mutual Fund and Sunaina da Cunha of Aditya Birla Sun Life Mutual Fund as some of the experienced female industry stalwarts who have carved out names for themselves and have held their own in a field dominated by men.
Published 06 March 2024, 20:47 IST