428 fund managers handle mutual funds worth ₹39.62 lakh crore by January 2023

Morningstar has been releasing an annual report on women fund managers since 2017. This will be its seventh edition report.

As per its report, the total number of women as compared to last year fund managers It has increased from 32 last year to 42 now. Interestingly, there has also been a substantial increase in the total number of fund managers this year; That’s up from the 399 managers saw last year.

These 42 women fund managers were spread across 24 fund houses — of which — five fund houses had three or more women fund managers; Six fund houses had two women fund managers while 13 fund houses had at least one woman fund manager.

However, with 9.81% representation, women are still under-represented mutual fund managers.

Notably, the total open and closing assets managed by women fund managers are approx. 4.43 lakh crore, which is 11.19% of total mutual fund assets.

Over the years, there has been a slight but steady decline in percentage terms with respect to assets managed by women, the report said. Last year, women managed 11.98% of the total mutual fund assets.

Of the total open- and closed-end fund assets managed by women, the largest number of assets under management belonged to the equity/growth asset class, representing 32.4% of the assets – followed by the allocation asset class at 29.3%. ,

Morningstar reports, “In terms of asset volume, every year since we began publishing this report we

Net assets managed by women showed an increase. This time the trend changed, as for the first time the total assets managed by women till January 2023 fell as compared to the previous year. The decline can be attributed to two prominent names that exited the mutual fund management industry last year – Swati Kulkarni (UTI MF) and Lakshmi Iyer (Kotak MF) – both of whom managed a fair amount of corpus between themselves. Did.

While the industry saw the exit of two prominent women fund managers last year, on a positive note, the report pointed out that there has been an increase in the overall number of women fund managers as compared to last year. When Morningstar first came out with the report, there were only 18 women fund managers, and the number has been rising ever since.

Also, there has been a significant increase in funds managed by women managers. Morningstar reports, “Our report shows that 82% of AUM of total open-end assets managed by women fund managers outperformed the peer group average on a one-year basis, 93% of AUM outperformed the average on a three-year basis.” Outperformed on a year-on-year basis, and outperformed by 99% AUM on a five-year basis – an achievement indeed worth appreciating.”

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