Saurabh Mukherjea's Marcellus receives Sebi nod to launch PMS
Saurabh Mukherjea said Marcellus plans to launch the first fund in next two months.
Mukherjea, who recently floated his investment firm Marcellus Investment Managers, disclosed this at an event in Mumbai on Friday.
He said Marcellus plans to launch the first fund in next two months.
Mukherjea, who modelled the much-talked-about Coffee Can approach to high-quality, low-risk investing at Ambit Capital, said he would not be importing the same model to his firm as it is owned by Ambit, but would work out a similar model for his own fund. He said his new model will be called CC Portfolio.
Mukherjea has joined Ambit in November 2003 and left the organisation in June this year.
Mukherjea is also the author of “The Unusual Billionaires” and “Coffee Can Investing: the Low Risk Route to Stupendous Wealth.”
India’s PMS industry, which mainly caters to rich investors and can only accept investments in the upwards of Rs 25 lakh, has been witnessing rapid growth at around 19 per cent in recent years and the asset base has been pegged at around Rs 15 lakh crore.
Industry watchers say it is fast growing into a mainstream industry. This space has drawn a number of frontline money managers from top brokerages and funds houses to quit their cushy jobs to launch own wealth management ventures.