Arindam Mandal
Prior to joining Marcellus, Arindam spent nearly a decade in the United States working for Principal Global Investors (PGI).
Arindam brings over a decade of global investing experience, having spent nearly 10+ years in the United States with Principal Global Investors (PGI). He began his career as a Quantitative Analyst before transitioning to fundamental equity research, where he served as the lead analyst covering U.S. and Global Industrials and Utilities. In early 2019, he broadened his investment mandate to include Emerging Markets and oversaw India public equity investments across PGI’s global equity platform. PGI manages more than 100B in equities. His primary fund during this period managed $5B+ in assets. Prior to his investment career, Arindam worked as a Lead Software Engineer in product research and development at Oracle Corporation.
Qualifications: Arindam holds a Bachelor of Technology (First Class with Distinction) from NIT Warangal and earned his MBA from Duke University’s Fuqua School of Business, where he graduated with highest honours in Finance.
Articles by team Marcellus
Marcellus Portfolio Snapshot - September 2025
marcellus.in From Our CIO’s Desk White Collar Jobs Growth & Wage Growth: Twin Drivers of India’s Slowdown From Diwali 2023 onwards, Indian companies’ earnings growth has decelerated at a rapid rate. Underpinning this deceleration is a sharp conk-off in consumption growth, long the mainstay of the Indian economy. Key drivers of this consumption downturn […]
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Little Champs: Rising Again on its Sixth Anniversary
After enjoying a splendid run in the first three years of its inception, Little Champs portfolio’s (LCP) returns and earnings growth deteriorated from September 2022 – March 2024. On LCP’s 6th anniversary we focus on what went wrong during this period, the lessons learnt and the course correction we undertook around 18 months ago. The steady […]
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India’s 5-layered Consumer Stimulus; More Needed
Summary: After a five-year flirtation with boosting public capex, the Government of India is now focusing on the main engine of India’s economic growth: Consumption. The last 6 months have seen the announcement of a 5-layered boost for domestic consumption including the keenly awaited GST cuts. Cumulatively, these stimuli added up to 1.8% of GDP […]
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