Queens of the market : You can’t call them bulls or bears, but they sure are the “queens” of the stock market. They are women who carved out novel careers that began as investment managers, analysts, or just marketing grunts. They worked up to the top in a male-dominated world to become big-time fund managers, head broking agencies, or even a stock exchange board.
Women Making Their Mark – Queens of the market
About time, too: the National Stock Exchange, which has 10 million registered investors, said in August that one in five investors is a woman. According to Morningstar India, an investment research firm, the number of women fund managers has grown from 18 in 2017, the year from which Morningstar began keeping records, to 42 in 2023.
Although this number may seem small (about 9% of the 473 fund managers in the industry), these women managed ₹6.66 lakh crore of assets as of January 2024.
Breaking Myths About Women in Finance
Deena Mehta, the 63-year-old Managing Director of Asit C Mehta Investment Intermediates, says,
“The irony is Laxmi [the Hindu goddess of wealth, fortune and prosperity] and Saraswati [the goddess of knowledge, music, arts, wisdom, and learning] are women. It’s time to bust the myth that only men can handle financial planning or investment management.”
Mehta and other trailblazers such as Amisha Vora, Priti Rathi Gupta, Devina Mehra, Lakshmi Iyer, and Radhika Gupta are proving that women can excel in finance despite societal expectations and domestic responsibilities.
Stories of Trailblazers
1. Deena Mehta
- First woman president of the BSE (Bombay Stock Exchange).
- Entered the stock market to escape a mundane finance job at a blue-chip company.
- Overcame challenges in a male-dominated trading ring in 1985.
- Advocates for women being 100% focused at work without guilt.
2. Lakshmi Iyer
- CEO-Investment & Strategy at Kotak Alternate Asset Managers.
- Began her career as a research analyst in 1997.
- Balances professional and personal responsibilities with effective prioritization.
- Handles ₹1 lakh crore of assets while maintaining her passion for finance.
3. Devina Mehra
- Chairperson and Managing Director of First Global.
- Graduated as a gold medallist from IIM Ahmedabad.
- Advocates societal change to empower women in finance.
- Managed funds with annualized returns exceeding 19.76% since 2020.
4. Amisha Vora
- Chairperson and Managing Director of Prabhudas Lilladher Group.
- Scaled operations and diversified offerings to serve 160,000 clients globally.
- Encourages financial literacy and confidence among women.
5. Priti Rathi Gupta
- Founder of Lxme, India’s first financial platform for women.
- Inspired over a million women to build financial independence.
- Advocates work-life harmony and financial education for women.
6. Radhika Gupta
- CEO and MD of Edelweiss Mutual Fund.
- Manages ₹1.40 lakh crore in assets as of June 2024.
- Promotes financial literacy and long-term investment strategies.
Challenges and Triumphs
Balancing Work and Family
Women in finance often face the challenge of managing professional ambitions and family responsibilities.
Deena Mehta advises,
“If you leave an unwell child with your mother-in-law, you should give 100% if you go to work. Being in the office and calling home every 15 minutes would not help.”
Advocating Financial Independence
Lakshmi Iyer and Radhika Gupta stress the importance of financial education and literacy for women. They believe women have a natural edge in investing due to their disciplined and risk-averse nature.
Investing Trends Among Women
A DBS Bank India study revealed:
| Investment Type | Percentage |
|---|---|
| Fixed Deposits/Savings | 51% |
| Gold | 16% |
| Mutual Funds | 15% |
| Real Estate | 10% |
| Stocks | 7% |
Women are transitioning from savers to investors, with mutual fund assets among women growing from 15% in 2017 to 21% in December 2023.
Advice for Aspiring Women Investors
1. Start Small, But Start
- Priti Rathi Gupta encourages beginning with a Systematic Investment Plan (SIP).
2. Think Long-Term
- Lakshmi Iyer stresses patience and longevity in both career and investments.
3. Gain Financial Literacy
- Women must educate themselves through courses, books, and asking questions.
Final Thoughts
These trailblazing women have reshaped the financial world, proving that women are just as capable of excelling in the stock market as men. Their stories serve as an inspiration for more women to step into the world of finance and achieve their own financial independence.
