Women’s representation in fund management remains in single digits even as their absolute count has risen sharply in 2023. At the end of January 2023, the mutual fund industry had 42 women fund managers, which is just 9.8 per cent of the total mutual fund manager count at 428.
In terms of assets under management (AUM), the share of women stood at 11 per cent or Rs 4.4 trillion at the end of January, a report shared by Morningstar shows.
While the overall count of women fund managers is growing, their share in AUM is declining steadily, the report noted. “Over the past few years, there has been a marginal but steady decline in percentage terms with respect to the assets managed by women. Last year, women managed 11.98 per cent of the total mutual fund assets,” it said.
The year 2022 marked a shift in trend in terms of the quantum of assets being managed. The total assets managed by women as of January 2023 was lower than in January 2022. “This dip could 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 among themselves,” the report said.
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