There has been an improvement in gender diversity in mutual fund management, with the number of female fund managers increasing to 32 this year from 30 a year ago and 18 in 2017.
According to the recently released Morningstar Women Fund Managers Report 2022, that number only dropped after the 2020 pandemic, when it fell to 28.
This was in line with the rise in the number of fund managers in this space, which rose to around 399 from 376 in the previous year.
With only 8% representation in the fund management industry, the numbers remain dismal and dramatically low, leaving plenty of room for improvement and growth.
As per the Association of Mutual Funds of India (AMFI) monthly data for January 2022, the assets under management (AUM) of the Indian mutual fund industry was Rs.38.01 crore, with average assets under management of Rs.38.89 crore.
Of this total, women manage about 12% or about Rs 4.55 crore of assets, slightly less than the 13.5% of total assets managed by women in 2o21.
Breaking this down to the asset class level for their category, women primarily led fixed income funds with 48% totaling Rs 2.19 crore, followed by 18% or Rs 0.81 crore. in the money market, liquidity and call money capital funds. Only around 25% or around Rs 1.12 lakh crore of these funds had an equity bias. The allocation and other solution-oriented funds were around 9% or Rs 0.39 lakh crore overall.
In total wealth management, this contribution accounted for 24.9% of all fixed income assets (excluding money market, liquidity, and overnight funds), 14% of all money market assets, liquidity, and overnight funds, 8.3% of the equity assets, and 8.1% of the asset allocation of and 7.7% and 0.1% solution and other assets.
Depending on the type of funds managed, nine managers have been managing funds continuously for more than five years. About eight have been managing funds for two to five years, and 15 fund managers have relatively less fund management experience of fewer than two years.
The report showed that about 69% of the assets managed by these fund managers outperformed the peer group average in a year. Similarly, 96% of AUMs have outperformed in three years and approximately 69% of AUMs have outperformed in five years.