Consistent Compounders on WebNotes

PPFAS vs Marcellus PMS

Sat, 16 May 2026 00:00:00 +0000

PPFAS Mutual Fund and Marcellus Investment Managers are two India-based investment management firms that often appear together in discussions of high-conviction value-oriented investing in Indian equities. However, the two are fundamentally different vehicle types under Indian financial regulation. PPFAS Mutual Fund is a SEBI-registered mutual fund AMC offering open-ended schemes available to retail investors with a minimum investment of Rs 1,000. Marcellus is a SEBI-registered Portfolio Management Service (PMS) provider offering discretionary portfolio management to wealthy individuals with a regulatory minimum investment of Rs 50 lakh (raised from Rs 25 lakh in 2020 by SEBI).

Saurabh Mukherjea

Tue, 12 May 2026 00:00:00 +0000

Saurabh Mukherjea is the founder and Chief Investment Officer of Marcellus Investment Managers, a SEBI-registered Portfolio Management Service (PMS) and Alternative Investment Fund (AIF) provider established in 2018. He is known for the Consistent Compounders investment strategy, which seeks to identify Indian listed businesses with durable competitive moats and consistently high returns on capital, and for a substantial body of authored work on Indian equity markets and investing. Prior to founding Marcellus, Mukherjea served as CEO of Ambit Capital’s institutional equities business and as head of equities at Clear Capital. He is one of the more prolific authored voices in Indian investment management.