Time in the mkt, not timing the mkt, helps'

When it comes to her influences and the guiding principles of leadership, Ashu Suyash, the India head of one of the world's largest asset managers, is governed by balance. So, while she could be dictatorial, she could also be collaborative and directional. 

She is acutely aware of the fact that she is abusinesswoman, and here too the aspect of balance comes into play in more than one ways. Though she is equally adept at handling the work at home and office, she feels overall, the woman has to put in disproportionately more effort. The Fidelity India chief believes that managing office and home carry equal responsibility for both the wife and the husband, but "in some cases women have more responsibility". That's perhaps the only area the balance is not quite there, or so it seemed when we met the 44-year-old former banker at her Nariman Point office in downtown Mumbai. She says that each day both sides cannot be equally balanced, as also work-life balance. "But one should give their best for work-life balance." 

Suyash feels that in the two decades since India started economic liberalization process, a career is an obvious option for a girl, which was not the case in 1991 when the economy was opening up. But why the preponderance of women in the financial services space—there are at least seven women heading some of the most respectable banks and financial houses in India today? "There is more level-playing field in financial services and IT than other sectors," she says. Then why do we have so few women on company boards? She feels even that's going to change as women are rising the ranks. "After a few years there would be more women at the board level than now. You need to give them time," she said. 

She describes her leadership style as flexible. "But, depending on the situation, I could be directional, taking suggestions or even dictatorial. There are times I would prefer to lead from the front, while at times I would allow the team to go ahead," she said. The collaborative approach is something she picked up from her previous bosses. "While moving from being managed to managing, you pick up a lot from your managers," says the lady who, before joining Fidelity seven years ago, spent about 15 years with Citigroup in India handling various responsibilities, including operations. Suyash's collaborative side again comes up when she talks about the three industries that traditionally look at managing long-term money for investors—mutual fund, insurance and pension. Currently, there is a debate on who should manage it. Her recipe, "It's about an 'and' oriented collaborative approach."

Over the years, two women have had the maximum influence on Suyash's life, her mother, who dictated but also pampered and loved her; and Indira Gandhi, who, for this chartered accountant, was the one who showed the world how to lead from the front. Then there is Abby Johnson, the daughter of the Fidelity chairman, whom she admires for her number crunching abilities as also for her approach to thought leadership. The banker-turned-fund manager is not worried about the present economic slowdown because she believes two things are currently contributing to this: high base effect of the past in some sectors and policy freeze, which she describes as worrisome. She believes that infrastructure and education are two areas that need attention in this regard. 

Regarding inflation, a source of perpetual worry for the government and policymakers, she points to its positive side. "Inflation has made investors understand what real return means," she said. She sure knows how to turn around an adversity to her advantage. Suyash is also a firm believer in India's long-term growth story. And this belief is backed by the demographic advantage, which fuels the consumption story. But where does she think is the market headed? "The recent correction may have brought back some investors... It's 'time in the market' and not 'timing the market' that helps us attain our investment goals. Research has shown that missing just the ten best days of stock market performance in the last ten year period (up to June 30, 2011) would have delivered just 9.84% in annual returns, against 18.47% if you had remained invested throughout the entire period." Her advice: remain invested to reap the full benefits. 

As for Fidelity, Suyash swears by its bottom-up stock picking approach and the quality and consistency of performance. 

"We always focus on long-term money and not on growing AUM (assets under management). So, the volume of money is much lower," she confessed. As per the latest data published by AMFI, the fund industry body, Fidelity India manages Rs 9,350 crore, which is a little over $2 billion. Three things have contributed to this recognition for Fidelity MF. "Focus on long-term money and the branding and marketing approach that is primarily based on investor education," said Suyash. By sticking to these three traits, it has now broken into the league of top 10 fund houses as per equity assets. 

Now that the initial phase of growth is behind, her vision for Fidelity is to make it one of the top fund houses in India. She believes the fund house should also be known for its high quality customer service. Suyash is a pure hawk when it comes to keeping her customers happy. The fact that she monitors it herself comes as a breath of fresh air in industry where service is one of the topmost concerns for consumers.