Women’s Day 2025: Women Fund Managers See a 2x Surge in Assets to ₹13.45 Lakh Crore

The number of women fund managers in India has grown, and their assets under management (AUM) have seen an unprecedented rise. According to a recent report, assets managed or co-managed by women surged by 102% to ₹13.45 lakh crore at the end of January 2025, up from ₹6.66 lakh crore a year ago. This growth reflects an increasing presence of women in investment management roles, although their overall share in the mutual fund industry remains limited.

Women Fund Managers: Growth in Numbers

While the total number of fund managers in the Indian mutual fund (MF) industry increased from 473 to 482, the number of women fund managers grew from 42 to 49. This marks an increase in representation from 8.88% to 10.17%. Though still a small fraction of the total, it is a positive step towards gender diversity in financial decision-making.

Interestingly, this rise in assets managed by women comes despite the exit of 2 prominent fund managers — Anju Chhajer of Nippon India Mutual Fund and Sohini Andani of SBI Mutual Fund — from the industry in the past year.

Women’s Share in the Mutual Fund Industry

At present, women fund managers oversee around 20% (₹13.45 lakh crore) of the total ₹67.25 lakh crore in mutual fund assets. This is a significant increase from 12.63% (₹6.66 lakh crore) recorded in January 2024.

Despite this growth, many fund houses still do not have female fund managers. Currently, 25 fund houses employ 49 women fund managers, with varying levels of representation:

• 6 fund houses have 3 or more women fund managers.
• 6 fund houses have 2 women fund managers.
• 13 fund houses have at least 1 woman fund manager.

Gender Diversity: Women Fund Managers by Fund House

A total of 339 schemes across 25 fund houses were managed or co-managed by women at the end of January 2025. Among them, ICICI Prudential Mutual Fund leads in gender diversity, with the highest representation of seven women fund managers managing ₹2.27 lakh crore across 66 schemes.

Other key fund houses with notable women representation include:

• SBI Mutual Fund: 5 women fund managers handling ₹1.88 lakh crore across 14 schemes.
• Nippon India Mutual Fund: 2 women fund managers overseeing ₹1.53 lakh crore across 26 schemes.

Top Women Fund Managers and Their AUM

The top 5 women fund managers among the 49 oversee around 46% (₹6.13 lakh crore) of the total assets managed by women in the industry.

Leading Women Fund Managers in India:

1. Mansi Sajeja (SBI MF): ₹1.41 lakh crore
2. Kinjal Desai (Nippon India MF): ₹1.37 lakh crore
3. Krishnaa N (Axis MF): ₹1.35 lakh crore

For perspective, India’s largest asset manager, Manish Banthia of ICICI Prudential MF, manages or co-manages ₹3.49 lakh crore, showing the scale of assets under top fund managers.

Women Managing the Most Schemes:

• Ashwini Shinde (ICICI Prudential MF): 47 schemes
• Ekta Gala (Mirae Asset India MF): 30 schemes
• Kinjal Desai (Nippon India MF): 24 schemes

Conclusion: A Step Towards Gender Inclusion

The surge in assets managed by women fund managers and their growing presence in the Indian mutual fund industry mark a significant step toward gender inclusivity. While the percentage of women in fund management remains modest, the increasing number of women leading investment strategies suggests a promising future. As more institutions embrace gender diversity, this trend is expected to strengthen further in the coming years.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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