At Marcellus, our purpose is to make wealth creation simple and accessible
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 –
Clean Accounts
Our quantitative frameworks which use a combination of forensic accounting and capital allocation assessment define our investible universe.
Capital Allocation
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.
Competitive Advantage
Our experienced investment team through in-depth primary research constructs a portfolio of companies with deep competitive moats.
AUM
₹ 9511 Cr
Investors
7993
Average AUM
₹ 1.19 Cr
We hold companies for long periods of time which allows us to capture the magic of long-term compounding and deliver superior returns.
We don’t
Get swayed by short-term trends
Time the Market
Keep a watch on the tickers throughout the day
Make an exception to Marcellus 3C Filter
Our investment criteria
Each company in our portfolio goes through a rigorous and uncompromising filter before they are selected in our investment basket.
Invest with us
Consistent
Compounders
Our flagship PMS product that invests in companies with clean accounts, superior record of capital allocation and high barriers to entry.
Rising
Giants
Our flagship PMS product that invests in companies with clean accounts, superior record of capital allocation and high barriers to entry.
Little Champs
Small-cap strategy that invests in companies with excellent corporate governance and capital allocation track record and strong sustainable competitive advantages.
Kings of Capital
Our financials sector focused investment strategy with a portfolio banks, NBFCs, life and general insurers, asset managers and brokers.
MeritorQ
A rules-based approach to screen for companies with low leverage, consistent profitability and which pass the Marcellus’s quantitative forensic accounting framework.
Global Compounders
Invests in 20-30 deeply moated global companies based on rigorous bottom-up research around moats, capital allocation and sustainability of cash generation into the long-term future.
The Maths, Science and Art of Investing in Equities
Equity investing can be a complex business. The variables at play are...
Read OUR NEWSLETTERSWhat they don’t tell you about high P/E stocks
P/E multiples are deceptively damaging for anyone seeking long term...
VISIT OUR BLOGWhy investors should focus on free cashflows
Prefer watching to reading? Check out our webinars and videos here
WATCH OUR VIDEOS
The Coffee Can companies are the Rahul Dravids of the business world – rare, determined and constantly seeking to improve the edge or the advantage they enjoy vis-à-vis their competitors
-CCP Newsletter, Nov 2021
Meet our leadership team
Dive deeper into our philosophy
Over the years we've authored several books that reflect our thinking
Recent release
Diamonds in the Dust: Consistent compounding for extraordinary wealth creation
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.
Three longs and three shorts
Short Reads
Short read: Should we Sleep on a Problem?
Apparently, when we say ‘sleep on a problem’, it is not just meant figuratively. As the author of this blog says, before he goes to bed, he goes through a tricky problem he is trying to solve and lets his subconscious mind have a crack at the solution whilst he is asleep. Turns out, he […]
Nov 04 . 2 MIN READ
Short read: Jeff Bezos faces Backlash for Refusal to Endorse Harris
The slow but steady decline in the business model of traditional media is well understood given that in most countries, India included, the bulk of advertising revenue is ending up in the hands of Google and the social media giants. One last hope for traditional media was that if some of the marquee names in […]
Nov 04 . 3 MIN READ
Short read: Researchers say an AI-powered Transcription Tool Used in Hospitals Invents things no one Ever Said
Even as discussions with our investee companies point to the inevitability of AI taking over roles which are currently performed by well-paid humans (well-paid in the Indian human context), it is becoming clear that there are still flaws even in the most advanced AI models. Quoting from the AP article: “Tech behemoth OpenAI has touted its […]
Nov 04 . 2 MIN READ
Long Reads
Long read: How to be a Norwegian Parent: Let your Kids Roam Free, Stay Home Alone, Have Fun – and Fail
The rest of the world has much to learn from the Scandinavian way of life. The results are there for everyone to see – “their sky-high living standards, low crime rates, enviable maternity and paternity rights and exceptional aesthetics.” Scandinavian countries consistently rank high on world happiness indicators. Another aspect of the Scandinavian way of life […]
Nov 04 . 4 MIN READ
Long read: Math Is Still Catching Up to the Mysterious Genius of Srinivasa Ramanujan
It is said that mathematics is fundamental to understanding any other subject from physics to economics. Even otherwise, it remains a beautiful subject in itself and so are its practitioners – the mathematicians. As the quote from this article says “As a budding mathematician, “I had the impression that these are beautiful people,” he said. “They […]
Nov 04 . 4 MIN READ
Long read: The Rapid Descent of Southwest Airlines: How the Company Plunged from Customer Cult-Favorite to Activist Investor Target
This is a brilliant case study of how even the greatest of companies can be taken apart in the stock market in the space of a four years. Almost all of us have grown up being fed the Southwest Airlines case study as one of disruptive innovation. Lisa Maclellan’s reprises the familiar story succinctly in […]
Nov 04 . 5 MIN READ
FAQs
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.