Page 21 - Banking Finance April 2023

MUTUAL FUND

Mutual Fund

News

428 fund managers han- being managed. The total assets being announcing decision to exit the
managed by women as of January 2023 scheme. The AUM of state government
dling Rs. 40 trillion only 42
is lower than in January 2022. "This dip pension rose 22.5% to Rs 4.4 lakh
are women may be attributed to two prominent crore, an increase of 80,592 crore. This
names that exited the MF manage- is half of the total increase in assets
Women's representation in fund man-
ment industry last year - Swati Kulkarni under management. The number of
agement remains in single digits in
(UTI MF) and Lakshmi Iyer (Kotak MF). accounts under state government
percentage terms, even as their abso-
Both managed a fair amount of corpus scheme rose 9.4% year on year to
lute count has risen sharply in 2023.
among themselves," adds the report. 60.7.
According to the latest report from
Morningstar, as on January 31, 2023, In percentage terms, the highest
the total mutual fund (MF) industry's PFRDA pension funds growth has been recorded by the All
assets came to approximately Rs 39.62 Citizen Model scheme where the AUM
grow 23% to Rs. 8.8 lakh
trillion. has grown 36.7% to Rs 41,302 crore.
crore in 1 year The number of accounts under this
This total was managed by 428 fund
Total assets under management segment have grown 32% to 28.4 lakh
managers across fund houses, of
(AUM) under the National Pension Sys- crore. The slowest growth in AUM was
whom, only 42 were women, or 9.8
tem (NPS) and Atal Pension Yojana in- under the central government scheme
per cent of the total count of MF man-
creased by 23.4% to Rs 8.8 lakh crore which grew 18.6% in the past 12
agers.
as on March 4, 2023 from Rs 7.1 lakh months largely because the number of
In terms of assets under management
crore a year ago. employees grew only 4.8%.
(AUM), the share of women stood at
According to data released by the Pen-
11 per cent, or Rs 4.4 trillion, at the
sion Fund Regulatory and Development SEBI asks Mutual Funds
end of January, reveals a report shared
Authority (PFRDA), the increase in as-
by Morningstar. from assuring fixed re-
sets was due to number of subscribers
While the overall count of women fund under the NPS rose to 624.8 lakh as on turns
managers is growing, their share in March 4, 2023 from 508.5 lakh in SEBI has asked mutual funds to refrain
AUM is declining steadily, observes the March 2022, showing a year-on-year from assuring fixed returns to investors
report. "Last year, women managed increase of 22.9%. while advertising their products. The
11.98 per cent of the total MF assets," market regulator has directed fund
In absolute terms, the highest contri-
it says. houses to remove all such advertise-
bution to the pension corpus during
The year 2022 marked a shift in trend the year continued to come from state ments or presentations in circulation.
when it came to the quantum of assets governments despite some of them In a letter to the Association of Mutual

18 | 2023 | APRIL | BANKING FINANCE