Marcellus' Consistent Compounders see redemptions worth Rs 1,160 crore in 3 months

Saurabh Mukherjea, founder and CIO of Marcellus Investment Managers.

Saurabh Mukherjea's Marcellus Investment Managers has seen redemptions close to Rs 966 crore in March from its Consistent Compounders portfolio, as per data sourced from PMS Bazaar.

The Asset Under Management (AUM) for Consistent Compounders portfolio as of March was Rs 5,050 crore. This number as of December 31, 2023 was Rs 6,213 crore. The portfolio has given returns of 3.17 percent in the last three months.

The portfolio has Asian Paints, Astral, Titan Company, Nestle India, Pidilite Industries, TCS, Divis Laboratories, Trent, Dr LalPathlabs, among others.

The reason for the redemptions could be underperformance in most of the companies in its portfolio. Asian Paints has lost 14.74 percent since December 30, 2023. Nestle India has lost 7.73 percent, while Dr LalPathlabs has fallen 21 percent in the same period.

On the other hand, Astral has gained 4.58 percent since December 30, 2023. Titan Company has gained 0.94 percent, Pidillite Industries has gained 9 percent, Trent has gained 30 percent in the same period.

Since inception in December 2018, the portfolio has given returns of 15.35 percent while its benchmark has given slightly higher returns of 15.76 percent in the same period.

Its Little Champs portfolio has also seen redemptions around Rs 103 crore. Its AUM as of March 30 was Rs 484 crore, compared to Rs 667 crore as of December 31, 2023.

Mukherjea via an email response told Moneycontrol, “Our philosophy is to invest in high quality companies with strong corporate governance, prudent capital allocation and sustainable competitive advantages and hold them for long periods of time. Whilst we remain convinced that such a philosophy delivers in the long run and remain committed to it, we are also cognizant that no philosophy delivers in every year. We have made a strong recovery in FY24."

Consistent Compounders portfolio is up 24 percent, MeritorQ is up 41 percent and its Global Compounders portfolio is up 36 percent in dollar terms over the past one year.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​​​