Assets managed by women fund managers jump 32% to Rs 3 trn in 2017: Report

The total assets managed by female fund managers rose by 32 per cent to Rs 3,065 billion in 2017 even as the representation of the fairer sex in this profession remained low at 8 per cent, says a report.
 

According to mutual fund Morningstar, of the total 291 fund managers handling open-ended mutual fund products in 2017, a meagre 24 are women. This figure is marginally higher compared to 18 women out of 269 fund managers in 2016.
 

The report further noted that these 24 women managers cumulatively manage assets worth Rs 3,065 billion, which is about 15 per cent of the total assets under management for open ended funds.
 

Though, the total assets managed by the women managers have recorded an increase in terms of absolute numbers, as against Rs 2,320 billion last year.
 

"However, in terms of percentage of overall assets, this number remained in the same ballpark as last year," it noted.

Interestingly, the report observed that women managers have generated solid returns within their peer groups.
 

"As we dig deeper into the data we find that out of the total assets managed by women fund managers, 61 per cent of the AUM outperformed the benchmark/peer group average over 1-year basis, 81 per cent over 3-year basis and 86 per cent over 5-year basis," the report said.
 

"Thus, over the long-term funds managed/overseen by women managers have delivered significant outperformance versus peers," it added.
 

Lakshmi Iyer, CIO (Debt) and head of products at Kotak Mahindra Asset Management, Bekxy Kuriakose, head, fixed income at Principal PNB Asset Management, Sunaina Da Cunha, fund manager at Birla Sun Life Asset Management and Anju Chhajer, senior fund manager at Reliance Nippon Life Asset Management, are some of the leading names in fund managing business on the fixed income side.
 

Roshi Jain, fund manager at Franklin Templeton Asst Mgmt(IND), Sohini Andani, fund manager at SBI Funds Management and Swati Kulkarni, fund manager at UTI Asset Management Company, are well known for managing equity funds, the report said.