Saurabh Mukherjea, FRSA
Saurabh Mukherjea is the Founder and Chief Investment Officer of
Marcellus Investment Managers.
Saurabh Mukherjea is the Founder and Chief Investment Officer of Marcellus Investment Managers. Saurabh was educated at the London School of Economics where he earned a BSc in Economics (with First Class Honours) and an MSc in Economics (with distinction in Macro & Microeconomics). In London, Saurabh was the co-founder of Clear Capital. Prior to setting up Marcellus, Saurabh was the CEO of Ambit Capital. Saurabh is a Founding Director of the Association of Portfolio Managers in India, a trade body. He continues to be part of multiple SEBI working groups whose role is to review and reform the rules governing portfolio management in India.
Articles by team Marcellus
Marcellus' Portfolio Updates & Insights - January 2026
marcellus.in From Our CIO’s Desk How Four Mega-Reforms by the Indian Government and the RBI Dismantled the Barriers to International Capital. RBI data reveals a staggering 58% surge in capital outflows from India over the past 5 years. This shift underscores a critical imperative: the necessity of investing in dollar-denominated assets. This is particularly […]
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Volatility underscores diversification benefits
Since inception 15 months ago, Marcellus Multi-Asset PMS (MAP-Balanced) has outperformed its benchmark by 2.44% points and Nifty 500 TSR Index by 4.57% points (annualised, net of fees and expenses). At that time, Indian equities had run up significantly and seemed overvalued when macro growth had slowed, the earnings cycle had already peaked and risk […]
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RBI’s Report Flags Canaries in the Coalmine
Whilst India’s net household financial savings have improved in FY25, RBI’s latest Financial Stability Report (FSR) explains why the situation continues to deteriorate when it comes to household debt. The RBI’s report points to: Increased leverage of households, specifically for the purpose of consumption and not creation of assets; and Higher write-offs and rising slippages for private banks and NBFCs respectively. […]
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