Despite facing a treacherous period of sharp industry corrections, a complete-blown pandemic and strict lockdowns, the mutual fund industry’s assets for the duration of the final year have improved by 9.5%, with the total assets becoming managed now standing at about Rs 30.50 lakh crore as on 31st January 2021, up from Rs 27.85 lakh crore a year earlier, according to a report by Morningstar Investment Adviser India on females fund managers in the asset management business.
As per the report, these assets are managed by 376 fund managers across all fund homes. When it comes to gender diversity, of the 376 fund managers, 30 are females who are managing funds either as principal / secondary managers or have oversight as heads of equity / debt.
Currently, the total count of females fund managers has improved from 28 final year to 30. Interestingly, the total quantity of fund managers saw a healthful enhance this year up from 352 managers observed final year. With a meagre 8% representation, females nevertheless stay drastically below-represented amongst the ranks of mutual fund managers. The 30 females fund managers have been spread across 19 fund homes, with 2 fund homes possessing 3 or more females fund managers. 6 fund homes had 2 females fund managers whilst 11 fund homes had at least 1 lady fund manager.
When it comes to tenure, 10 fund managers have managed funds regularly for more than 5 years. 12 fund managers have been managing funds involving two and 5 years, and 8 fund managers have a somewhat reduce practical experience of managing / co-managing funds under two years.
The total open and close finish assets managed by females fund managers is about Rs 4.11 lakh crore, which is 13.5% of the total mutual fund assets. Over the final couple of years, whilst the assets managed by females are on the rise, in percentage terms of the all round business assets, this quantity has not been one thing to boast about. Having mentioned that, there is definitely a rise in the quantity of females fund managers in the mutual fund business. “When we first came out with a report on women fund managers in 2017, there were only 18 women fund managers. This increased to 24 in 2018, 29 in 2019, was 28 in 2020, and again increased to 30 in 2021,” the report states.
From the viewpoint of assets managed across several asset classes, out of the total open and close finish fund assets managed by females (4.11 lakh crore), about Rs 1.77 lakh crore (43%) have been fixed revenue funds (excluding Money industry, Liquid and Overnight Funds), Rs 1.09 lakh crore (26.6%) have been cash industry funds, liquid and overnight funds, Rs 1.03 lakh crore (25.1%) have been equity funds, Rs .18 lakh crore (4.5%) have been allocation funds and the option and other category cumulated to .03 lakh crore (.7%).
This accounts for 29% of all fixed revenue assets (excluding cash industry, liquid and overnight funds), 12% of all cash industry, liquid and overnight assets, 11% of equity assets, 6% of allocation assets and 11% and .2% of option and other assets, respectively.
Scrutinizing the information additional throws up some fascinating vibrant spots particularly associated to fund functionality. The report shows that of the total open-ended assets managed by females fund managers, 80% of the AUM outperformed the peer group typical on a one-year basis, 80% of the AUM outperformed on a 3-year basis and 74% of the AUM outperformed on a 5-year basis – a feat really worth commending.