We do this by being trustworthy and transparent capital allocators. Our philosophy at Marcellus has evolved from the ideas of Kirby and Thiel, which we have refined further.
Our investing approach has three pillars –
Our quantitative frameworks which use a combination of forensic accounting and capital allocation assessment define our investible universe.
We look for companies with superior track record of capital allocation. We love companies that generate free cash flows and reinvest them in the business to fuel further growth.
Our experienced investment team through in-depth primary research constructs a portfolio of companies with deep competitive moats.
AUM
Investors
Average AUM
Each company in our portfolio goes through a rigorous and uncompromising filter before they are selected in our investment basket.
Our flagship PMS product that invests in companies with clean accounts, superior record of capital allocation and high barriers to entry.
Our flagship PMS product that invests in companies with clean accounts, superior record of capital allocation and high barriers to entry.
Small-cap strategy that invests in companies with excellent corporate governance and capital allocation track record and strong sustainable competitive advantages.
Our financials sector focused investment strategy with a portfolio banks, NBFCs, life and general insurers, asset managers and brokers.
Equity investing can be a complex business. The variables at play are...
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P/E multiples are deceptively damaging for anyone seeking long term...
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Over the years we've authored several books that reflect our thinking
Recent release
by Saurabh Mukherjea, Rakshit Ranjan, Salil Desai
There are three reasons why reading Marcellus’ latest book will help those who are interested in the stock market: (1) Our guru, Sir John Kay’s Foreword will help you appreciate the basics of sensible investing in five minutes flat. (2) Accounting fraud in India is widespread and complex and this book will help you understand the principles of fraud detection.
Short Reads
The FIFA football world cup remains the greatest show on the planet. Last Sunday’s incredible final proving it beyond doubt. It is clearly the most popular sport on the planet but the eventual winners Argentina turned out to be the most popular team for neutrals across the world. Lionel Messi’s genius and the fact that […]
There is a lot of excitement about defence stocks these days. Having seen such bouts of excitement before, the team at Marcellus is a more than a little circumspect about such excitement. For those who are excited about investment opportunities in the context of defence spending in India, the legendary TN Ninan has some sobering […]
We published a note last month on the positive economic implications – from an Indian perspective – of the ongoing unravelling of the Chinese economy – see https://marcellus.in/blogs/chinas-unravelling-creates-a-300-billion-opportunity-for-india/ However, as Pratap Bhanu Mehta explains in this edit piece, the challenge that India faces is that the more China unravels, the more India’s economy & influence […]
Long Reads
Plenty tends to get written about in terms of harmful effects of climate change. But thanks to one of our readers who shared this brilliant graphics piece, we learn about the unnoticed damage to the large class of creatures in the animal kingdom – insects. Scientists apparently refer to this as the ‘Insect Apocalypse’. This […]
What makes investment management a super interesting profession is that there doesn’t have to be one right way of investing. If Lindsell Train’s newsletter was all about finding Anti-Fragile businesses which can not only withstand the test of time and technological disruption but emerge stronger, this speech from another fund manager is a little more […]
For a few years now, it has been fashionable to say that we are living through a pace of accelerating technological change which shortens the lifespan of companies. Commentators who say these sorts of things (eg. management consultants, brokers & bankers) also enjoy noting that most investors are now traders i.e. people who seem to […]
A Portfolio Management Service is a platform created especially for high net-worth individuals to provide customized solutions for their financial investment needs. Investment management solutions in a PMS can be provided in three ways – Discretionary Portfolio, Non-Discretionary Portfolio, Advisory Portfolio.
Portfolio Management Services are regulated by Securities and Exchange Board of India (SEBI) under PMS Regulations.
Yes. For investment in listed securities, an investor is required to open a new demat account in his/her own name.
The minimum ticket size applicable at the time of opening a new account, is the same as regulatory minimum of Rs. 50 lakhs.
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