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Women's Day 2019: There are only 23 women fund managers out of total 271

Women's Day 2019: There are only 23 women fund managers out of total 271

Women's Day 2019: There are only 23 women fund managers out of total 271
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By CNBC-TV18 Mar 8, 2019 9:53:26 AM IST (Published)

The data collated by CNBC-TV18 suggests that only 12 out of the 40 fund houses that have a woman fund manager and there are only 23 women fund managers out of a total 271 fund managers, which gives us the disappointing number, 8.5 percent. The remaining 139, are men.

It’s still a struggle for women in the corporate world. Women have a mere 8.5 percent representation in fund houses, according to Association of Mutual Funds in India (AMFI) and mutual fund websites.

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The data collated by CNBC-TV18 suggests that only 12 out of the 40 fund houses that have a woman fund manager and there are only 23 women fund managers out of a total 271 fund managers, which gives us the disappointing number, 8.5 percent. The remaining 139, are men.
According to the data, IDBI AMC and SBI AMC have women representation ratio of over 30 percent. IDBI AMC, SBI AMC, Reliance Nippon Life AMC and ICICI Prudential AMC are the only fund houses that have more than one woman fund manager.
IDBI AMC and ICICI Prudential have two women fund managers. In IDBI AMC, there are a total of six fund managers and in ICICI Prudential, there are 22 fund managers in total. In SBI AMC, there are seven women fund managers out of the total 23 and in Reliance Nippon Life there are four women fund managers out of 21.
However, though the number is disappointing, there has been a steady rise in the number of women fund managers, compared to the earlier figures. Fund managers are given the responsibility to oversee and lead as the heads of equity or debt. Some of them are also primary or secondary managers, those who do the groundwork for managing funds.
A report by Bank of America Merrill Lynch said that the equality for women could boost global gross domestic product (GDP) by 31 percent or $28 trillion by 2025, the size of US and China GDP combined. With women driving the labour market, as well as the wealth management sector, it is expected that by 2020 they will hold $72 trillion of the world’s financial assets, double the 2010 level and accumulating assets 1.5 times faster than men, the report said.
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