Marcellus

Marcellus purpose is to influence efficient capital allocation in the Indian economy, doing this by channeling household savings towards high quality companies with long track records of efficient capital allocation, who in turn deliver superior returns to savers. Quantitative frameworks which use a combination of forensic accounting and capital allocation assessment define investible universe. Experienced investment team through in-depth primary research constructs a portfolio of companies with deep competitive moats, then hold these companies for long term with low churn or no churn which allows to create long term compounding returns.

Fund Managers

Mr. Rakshit Ranjan

Fund Manager

Rakshit spent 6 years (2005-2011) covering UK equities with Lloyds Bank (Director, Institutional Equity Research) and Execution Noble (Sector Lead analyst). During these six years, he was ranked amongst the top-3 UK Insurance analysts (Thomson Reuters Extel survey) in the mid-cap space. Since 2011, Rakshit led Ambit Capital’s consumer research franchise which got voted as No.1 for Discretionary Consumer and within top-3 for Consumer Staples in 2015 and 2016. He launched Ambit’s Coffee Can PMS in Mar’17 and managed it till Dec’18. Under his management, Ambit’s Coffee Can PMS was one of India’s top performing equity products during 2018.Qualifications :Rakshit has a B.Tech from IIT (Delhi) and is a CFA charter holder.

Mr. Saurabh Mukherjea

Chief Investment Officer

Saurabh is the former CEO of Ambit Capital and played a key role in Ambit’s rise as a broker and a wealth manager. When Saurabh left Ambit in June 2018, assets under advisory were $800mn.

Saurabh has written three bestselling books: Gurus of Chaos (2014), The Unusual Billionaires (2016) and "Coffee Can Investing: The low risk route to stupendous returns" (2018).

Prior to turning around Ambit, Saurabh was a co-founder of Clear Capital, a London based small-cap equity research firm which he and his co-founders created in 2003 and sold in 2008.

Qualifications : Saurabh is a CFA charter holder with a BSc in Economics (with First Class Honours) from the London School of Economics. He also has a MSc in Economics (with distinction in Macroeconomics & Microeconomics) from the same institution. In India, Saurabh is a SEBI-registered Research Analyst and he has also passed the SEBI’s approved exams for Investment Advisors. In 2018, upon SEBI’s invitation, Saurabh joined SEBI’s Asset Management Advisory Committee.


Strategy

MARCELLUS - CONSISTENT COMPOUNDERS - LARGE CAP

Consistent Compounders identifies firms with high pricing power that helps sustain a large gap between returns on the cost of equity and capital employed. The main objective of consistent compounders is to invest in a concentrated portfolio of heavily moated companies that can drive healthy earnings growth over long periods.

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