How women fund managers build portfolios: Key lessons for retail investors

Women are increasingly taking on prominent roles in India’s mutual fund industry. Many are stepping into leadership positions and shaping the way investment portfolios are managed.

A recent report by Morningstar highlights some of these women fund managers and shares insights into how they approach investing, portfolio construction, and risk management.

Before reading further, please note that this is just for informational purposes only and not intended to recommend any of the schemes mentioned below. You should make an investment decision based on your personal financial goals and risk appetite.

Sunaina Da Cunha, Co-CIO (Debt) at Aditya Birla Sun Life AMC, has over 20 years of experience in bond markets.

She focuses on safety, liquidity, and reasonable returns. Her investment decisions are guided by careful credit research, risk control, and position sizing. She also adapts to changing interest rates and market conditions.

Meenakshi Dawar, a senior fund manager at Nippon India Mutual Fund, has more than 16 years of experience in equity research and fund management. She manages multiple funds, including the Nippon India Value Fund and Flexi Cap Fund.

Her approach focuses on finding businesses with strong fundamentals trading at attractive valuations. She keeps her portfolio diversified, with most positions around 2%–3% of the total.

Rajasa Kakulavarapu has nearly 15 years of industry experience and has been managing funds since 2021.

She emphasises business quality, competitive positioning, and valuation discipline. Her goal is to balance long-term growth potential with risk control, relying heavily on research to guide her decisions.

Key takeaways for retail investors

1. Whether managing debt or equity, successful fund managers like Da Cunha, Dawar, and Kakulavarapu emphasise the importance of research and risk management. All three managers highlight the importance of understanding what you invest in. Retail investors should focus on understanding the risks involved in any investment and do thorough research before making decisions.

2. Diversification is a common theme among all three fund managers. Dawar's use of 2%-3% individual stock allocation and Da Cunha’s careful selection of lower-rated bonds with high-quality potential show that risk can be managed through strategic position sizing and diversification.

3. A long-term mindset can make a big difference. Retail investors can benefit from sticking to their investment strategies, staying informed, and adjusting their portfolios as needed based on economic cycles.

As more women take on leadership roles in India’s asset management industry, their investment approaches offer practical lessons. For retail investors, adopting research-led strategies, diversifying wisely, and managing risk carefully can lead to more confident and successful investing.