Don't outsource money management to men: Radhika Gupta of Edelweiss MF

BT MPW 2024: Women have long been the financial stewards of their households, yet many still hesitate to take charge of their own investments. Radhika Gupta, MD and CEO of Edelweiss Mutual Fund, believes it's time for this to change. Speaking at the Business Today Most Powerful Women 2024 event, Gupta emphasized the need for women to move beyond saving and start actively investing. She noted that, while mothers and grandmothers have acted as “CFOs of their homes” for generations, modern women should extend this role into financial markets.

 “Women are phenomenal savers—mothers and grandmothers have acted as the CFOs of their homes, managing family finances for decades. But they need to move from being savers to investors. Stop outsourcing money management to men, and remember, it’s not complicated,” she advises.

Under Gupta’s leadership, Edelweiss Mutual Fund has flourished, becoming one of the fastest-growing asset management companies in FY23-24, with a 23% growth in AUM, positioning it 13th in industry rankings. The company has transformed from an unprofitable entity to a financially strong one, reporting a consistent positive PAT over recent years.

She added that it’s often assumed that challenges are external. But for many of us, the bigger challenges are internal. “If I could go back and tell my 21-year-old self something, it would be to trust your inner voice and have self-confidence. Five years ago, I lacked confidence, and I’m still working on it. Confidence to trust your instincts, to speak up, and to put forward your viewpoint in a room is vital. It’s also about not feeling intimidated at networking events and finding your way to break into conversations.”

Gupta emphasizes that women are natural multitaskers, adept at managing multiple roles and relationships. “Women are always balancing roles—whether they’re managing in-laws, parents, or husbands. We excel at stakeholder management,” she notes. “This multitasking ability, often seen as a feminist skill set, is incredibly valuable in the workplace.”

Gupta also addresses the notion of emotion in leadership, sharing her own experience of being told that her emotional side might hinder her career. “Many years ago, I was told that being emotional would hold me back as a leader. I cry at work, and I feel deeply at work. But there’s no single right style of leadership. Don’t question yourself, embrace your authentic self,” she encourages.

During her tenure, Edelweiss's Assets Under Management (AUM) have jumped  from Rs 6,500 crore in March 2017 to over Rs 1.40 lakh crore by July 2024. Her leadership has been pivotal in launching innovative products, including the Bharat Bond ETF, India’s first corporate bond ETF introduced in partnership with the Government of India. This flagship product has grown to over Rs 1.50 lakh crore, significantly bolstering Edelweiss AMC's brand reputation.