“A woman is the full circle. Within her is the power to create, nurture and transform.”
On the International Women’s Day, Morningstar broadcasted a transitory profile of the best of the best women fund managers from India’s mutual fund industry. According to the report, as much as 18 women fund managers handle schemes either as primary or secondary managers or as heads of equity/fixed income.
Women are indeed hugely under-represented in Indian equity market, and also in global equity markets. But the few women, who manage around Rs 2,00,000 crore of investor wealth on Dalal Street, have been fairly consistent in delivering returns across market cycles, which make them stand out.
“A woman is like a tea bag—you never know how strong she is until she gets in hot water.”
Morningstar India undertook a short study to evaluate gender diversity in the Indian mutual fund space. They found that women fund managers constitute about 7 per cent of the industry and manage a total of Rs 2,32,000 crore worth of assets out of Rs 17.89 lakh crore asset under management of the mutual fund industry.
The Asset under management (AUM) of the mutual fund industry touched a record high of Rs. 17.89 lakh crore in February with equity funds seeing their assets cross the Rs. 5lakh crore mark for the first time ever during the month.
The AUM of equity mutual funds increased 4.7% month-on-month to around rupees 5.2 lakh crore in February. Equity Mutual Funds attracted net inflows of nearly $1billion (Rs. 6,462) crore in February. Income funds, which invest in a combination of government securities saw inflows of Rs. 10,864 crore while balance funds that can invest up to 65% in equities got fresh flows of Rs. 5,465 crore.
Continued positive net inflows in long term assets like equity and balanced funds are an indicator that India is using Mutual Funds as long term savings vehicle.
With the capital markets remaining buoyant in February, equity schemes for an increase in the AUM to mark-to-market gains as well.
“There’s something so special about a woman who dominates in a man’s world. It takes a certain grace, strength, intelligence, fearlessness, and the nerve to never take no for an answer.”
