In the rarefied world of fund management, women managers are a rarity. But, slowly, they are making their presence felt. Here are brief profiles of the six who made it and what they have to say about the current state of the markets.
In the rarefied world of fund management, women managers are a rarity. But, slowly, they are making their presence felt. Here are brief profiles of the six who made it and what they have to say about the current state of the markets.
Swati Kulkarni
Fund manager (vice-president), UTI Mutual Fund
Qualifications: B.Com (Bombay University), Masters in Financial Management (Narsee Monjee Institute of Management Studies, Mumbai)
Previous assignments: Reliance Industries (cash-flow planning in the financial planning cell)
Fund management experience: Eight years
Funds being managed: UTI Dividend Yield Fund, UTI MNC Fund, UTI Large Cap Fund, UTI Brand Value Fund, UTI Equity Tax Savings Plan, UTI Variable Investment Scheme, UTI Master Index Fund, UTI Nifty Index Fund, UTI Sunder
On why she chose this profession: My interest to pursue finance saw me rejecting a lot of account-related jobs in the initial part of my career. Managing a MF scheme provides you the ability to test your skills and take informed decisions.
It is a logical extension of having done a lot of research and analysis on sectors and companies.
On how it feels to be a woman fund manager: We are competing equally with our male counterparts and are not deprived of anything. Of course, being a lady, one needs to put in that extra effort so that generalisations like “she would have other commitments”, can be brushed aside. It’s a good sign that a lot of women are joining as research analysts.
On what she would be doing if not managing money: Watch a lot of sports and listen to classical music. I used to sit up late nights to watch the Fifa World Cup from the quarter-final stage.
On the markets: The fundamentals of the equity market remain positive because of the macro strength. Having said that, there could be short-term volatility because there are so many players.
But if one is to have a 12-15 month investment horizon, there is money to be made. One has to have equity allocation to beat inflation, and equity always outperforms other asset classes in the long term.
Nipa Ladiwala
Vice-president and head of PMS at SBI Mutual Fund
Qualifications: B.Com, Masters in Management Studies and LLB (Bombay University)
Previous assignments: JM Financial PMS, UTI-Investment Advisory Services
Experience: 12 years
Funds being managed: Advises Societe Generale Asset Management Equity India Fund, the institutional PMS at SBI Mutual Fund, which is operated out of Singapore
On why she chose this profession: I was always interested in the stockmarket and have wanted to manage money. I had been a research analyst and dealer at UTI-IAS where I got a hang of the markets.
On how it feels to be a woman fund manager: Women tend to be a little more complete. We look into the nitty-gritty of everything. We shouldn’t feel that we are in a profession that is dominated by males.
In fact, there are a lot of hidden benefits that go with our gender — people might be more receptive and accepting. And at the end of the day, we are all professionals.
On what she would be doing if not managing money: Spend more time with my children, trek, play squash, read.
On the markets: The stockmarket is poised very interestingly. It is heading towards the previous top, but we feel that there might be consolidation and a lot of pain before it moves up to make another top. India is not a compelling story, but we are still a growth story, and the question to ask is what price you are willing to pay for that growth.
Gautami Desai
Fund manager (assistant vice-president), UTI Mutual Fund
Qualifications: Electronics engineering (Bombay University), MBA (Narsee Monjee Institute of Management Studies, Mumbai)
Previous assignments: Has been with UTI all through, but served earlier with
the credit rating cell of the company.
Fund management experience: Eight years
Funds being managed: UTI Master Growth, UTI Index Select Fund, UTI Service Sector Fund, UTI Banking Fund, UTI PSU Fund, UTI Petro Fund
On why she chose this profession: Since I was in research for the first three years of my stint here, equity became a passion.
On how it feels to be a woman fund manager: Gender does not have anything to do with the job. The onus and responsibility to do well lies with the individual. I’ve never felt any gender bias.
On what she would be doing if not managing money: I would devote a lot of time to reading. Cooking is a passion.
On the markets: I am very positive on the markets. All the numbers indicate that the markets are going to remain firm. There might be some temporary volatility, but even if you put your money at these levels, there is more money to be made. In the immediate near term, there could be a healthy correction.
Srividhya Rajesh
Fund manager (equity), Sundaram BNP Paribas Mutual Fund
Qualifications: Masters in management (BITS, Pilani), CFA (CFA Institute, US, and ICFAI, Hyderabad)
Previous assignments: Two years in research at Kotak Securities
Fund management experience: 12 years
Funds being managed: Sundaram India Leadership Fund, Sundaram BNP Select Focus Fund, Sundaram BNP Capex Opportunities Fund
On why she chose this profession: I was fascinated by the stockmarkets even while in college. My father was a long-term investor in equity and that too may have played a part in growing my interest.
On how it feels to be a woman fund manager: I don’t see any difference. It has no additional pressures — there needs to be as much commitment as in any other job.
On what she would be doing if not managing money: Travel and trekking. I would also like to be an entrepreneur and get involved in social service
On the markets: There is a chance that the markets will make a new high. This could happen probably in six months, but the sustainability will have to be seen. It will depend on factors like growth, corporate numbers and external factors like interest rates.
Shalini Tibrewala
Fund manager (fixed income), JM Financial Mutual Fund
Qualifications: B. Com (Sydenham College, Mumbai), associate chartered accountant (Institute of Chartered Accountants of India), company secretary
Previous assignments: This is her first assignment
Fund management experience: Nine years
Funds being managed: JM High Liquidity Fund, JM FMP, JM MIP
On why she chose this profession: Hailing from a Marwari family, finance is in the blood and the choice had to be in a treasury/fund-based profession.
On how it feels to be a woman fund manager: Global business strategies have transformed and the essence of the current scenario is all about performance, not about gender bias.
On what she would be doing if not managing money: I would certainly be involved in some treasury operations. Other interests include playing the sitar, bonsai, yoga, travelling and astrology.
Bichitra Mahapatra
Fund manager (assistant general manager, finance), LIC Mutual Fund
Qualifications: M.Sc (Physics) from Utkal University, Orissa
Previous assignments: Joined LIC of India as a direct recruit — as assistant administrative officer
Fund management experience: Five years
Funds being managed: Currently, manages LIC’s Unit Linked Insurance Scheme, LIC MF Balanced Fund, LIC MF Monthly Income Plan and LIC MF Floater MIP. Also also looks after the servicing of debentures and other regulatory issues related to finance department.
On why she chose this profession: I am on deputation from LIC of India and have been posted to LIC MF as a fund manager.
On how it feels to be a woman fund manager: At the end of the day, as net asset values get published, performance of the schemes (which reflect the fund manager's performance) is compared with the benchmark as well as the peer group, irrespective of the fund manager’s gender. It is satisfying to be managing investors’ money and generating consistent returns for them.
On what she would be doing if not managing money: I am fond of music — rarely miss classical and ghazal programmes. Irrespective of my current profession, I wish to pursue my singing. Other interests include reading, cooking, knitting, and freaking out with my son.
On the markets: I’m very positive on the India growth story, though concerns remain on inflation, global interest rates and high crude prices. However, one should ignore the short-term volatility in the market; look at a medium-term horizon of 3-5 years to invest and reap the benefits.
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