Latest news with #SaurabhMukherjea
New Indian Express
3 days ago
- Business
- New Indian Express
Many high-net-worth individuals fall short of savings goals despite high incomes, reveals survey
A large percentage of high-net-worth individuals (HNIs) are not saving enough to achieve their financial goals, as per a survey by Marcellus Investment Managers. The survey highlighted that 43% of high HNIs save less than 20% of their post-tax income, while 14% do not maintain an emergency fund. Giving an example, the survey highlighted that a 44-year-old banking professional working in Mumbai only manages to save Rs 5 lakh per annum despite pocketing Rs 50 lakh as bulk as his/her income goes towards EMIs and children's education. Saurabh Mukherjea, Co-Founder, Marcellus Investment Managers, said that affluent Indians are living in a world of high aspirations and low savings, compounded by illiquid, tax-inefficient portfolios. He stated that without a clear financial roadmap and disciplined investing, their goals will remain out of reach. The survey said that HNIs prefer real estate more over other asset classes. More than half of the respondents have over 20% of their assets in property, even excluding their primary residence. Only 1/3rd of the respondents have more than 20% equity allocation.
Time of India
4 days ago
- Business
- Time of India
43% of Indian HNIs save less than 20% of their income, says Marcellus–D&B Wealth 2025 survey
A significant proportion of India's high-net-worth individuals ( HNIs ) are falling short on financial discipline and structured planning despite their rising affluence and ambitions, according to a new survey released by Marcellus Investment Managers in collaboration with Dun & Bradstreet on Wednesday. The India Wealth Survey 2025, which covered 465 households across 28 cities, found that 43% of HNIs save less than 20% of their post-tax income, even as they aim for early retirement, entrepreneurship, and financial security for their children. Moreover, 14% of respondents do not maintain an emergency fund, and over half allocate more than 20% of their wealth to real estate, highlighting a heavy preference for physical assets despite increasing awareness of market-linked investments. A shift towards goal-oriented investing The report reveals a striking disconnect between ambition and action among India's wealthy. While 82% believe professional financial planning improves their chances of meeting long-term goals, a majority continue to operate without sufficient diversification or tailored asset allocation. For instance, among households with net worths above Rs 10 crore, 63% save over 30% of their income, yet only 17% allocate more than 30% to equities. Meanwhile, 48% park more than 30% in real estate and 65% allocate 10-20% to gold and silver. 'Financial discipline and thoughtful asset allocation are the cornerstones of a solid financial foundation, essential for fulfilling future goals,' said Pramod Gubbi, Co-Founder, Marcellus Investment Managers. 'India's HNIs are no longer passive; they're seeking a structured approach and professional assistance to help realise their life goals.' The study also showed that 76% of ultra-HNIs are aware of the investment corpus required for a comfortable retirement, yet many still struggle with low diversification. About 51% of HNIs said they wanted more help with diversification, 38% sought personalised asset allocation, and 32% were looking for goal planning support. The case for advisory-led wealth management Saurabh Mukherjea, Co-Founder, Marcellus Investment Managers, commented: "As India steps confidently onto the global economic stage, its wealthy households are embracing greater sophistication and clarity in their financial journeys. They are seeking expert guidance, not just to manage their wealth, but to bring structure, discipline, and purpose to their long-term financial aspirations." Live Events The survey suggests that India's evolving wealthy class is at an inflection point. 'It's no longer about standard products or investment returns; it's about tailored solutions and relationships built on transparency and trust,' said Manish Hemnani, Co-Founder, Marcellus Investment Managers. As the number of affluent Indian households grows, the need for goal-driven, transparent financial advisory services will likely deepen. The Marcellus–D&B Wealth Survey 2025 points to a maturing wealth mindset—one that's ready to replace instinctive financial behaviour with intentional, professionally guided planning. Also read | Rs 43,000 crore selloff by promoters! Insider exits flash warning sign for Nifty bulls
Time of India
23-05-2025
- Business
- Time of India
Saurabh Mukherjea says his portfolio ready to climb walls of worry, backed by 3 factors
Amid market turbulence, Marcellus follows a straightforward yet confident strategy: invest in top-quality stocks, buy at the right valuations, and keep cash handy to seize opportunities as they arise. Despite macroeconomic turbulence and global tariff tensions, Saurabh Mukherjea remains bullish on his Marcellus portfolios. Backed by valuation discipline, high-quality stocks, and ample cash reserves, his CCP strategy targets uncorrelated businesses with strong moats. As market growth slows, Mukherjea sees opportunity in select value plays and resilient earnings, trimming underperformers and holding cash for tactical entry points. Tired of too many ads? Remove Ads 1. Uncorrelated Winners in a Concentrated Core Tired of too many ads? Remove Ads 2. Quality Shines When Growth Slows 3. Valuations at Historic Lows Cash Is King — Even for Kings of Capital Tired of too many ads? Remove Ads With storm clouds gathering over India's macroeconomic horizon and the tariff wars, star investor Saurabh Mukherjea is standing firm, armed with a concentrated portfolio, valuation discipline, and a pile of dry powder wherever needed.'The macro-economic environment is going through a period of weakness,' Mukherjea warned, citing a confluence of domestic and global pressures. 'Rising household debt, weak capex, sluggish job creation, and slowing consumption demand' at home are being compounded by geopolitical uncertainty and tariff wars, which threaten to roil currency markets, inflation, and interest Mukherjea, who runs Marcellus PMS, believes his flagship Consistent Compounders Portfolio (CCP) is well-positioned to weather the turbulence—and possibly thrive in it. In a recent note to clients, he offered three distinct reasons the heart of his defence strategy is a tightly focused portfolio packed with businesses that march to their own drumbeat, largely insulated from macro shocks.'Our largest allocations include companies whose fundamentals are relatively uncorrelated with the macro factors,' said Mukherjea. One of them: a hospital chain rapidly expanding overseas while optimising efficiency at home. Another: a pharma firm with monopolistic control over global API production for cough syrups and painkillers, and exclusive manufacturing rights for patented big pharma second pillar is rooted in history. 'During periods when Nifty50's earnings growth is weak, companies with high quality of moats and capital allocation prudence outshine,' he backdrop tells the story. Between FY22 and FY25, the Nifty50 posted a robust 24% EPS CAGR—a tide that lifted all boats, regardless of quality. But Mukherjea insists the next phase will separate the contenders from the pretenders.''When the going gets tough, the tough get going' by using their superior competitive advantages to gain market shares,' he said, adding that the CCP portfolio is well-aligned to capture these gains in a more challenging the most striking statistic: the 1-year forward P/E multiple of the CCP portfolio is now at its lowest since inception, following a recalibration of its constituents in 2024.'This puts our portfolio at a 25%-30% discount to its six-year average,' said Mukherjea, positioning it as a compelling value play in an uncertain financials-focussed Kings of Capital Portfolio (KCP) remains heavily weighted toward private banks and NBFCs, but he has tightened the screws, cutting exposure to names with inconsistent growth or low RoEs.'We still don't find value in capital market-linked stocks and haven't added back any since our exit in late Sep'24,' he said. The combination of slim pickings and a re-rating in quality lenders has left KCP holding about 10% in cash—a strategic war chest amid market Little Champs Portfolio (LCP) and Rising Giants Portfolio (RGP) are also adapting to the new reality—emphasising earnings resilience, valuation discipline, and elevated cash levels.'Good quality stocks do fall during periods of market slowdown,' Mukherjea acknowledged. Cash, he said, will 'give some mitigation against these falls' and allow selective entries into oversold quality names.'This could be both increasing the position in the existing stocks, which see unwarranted correction + getting into coverage stocks, but which we had not invested earlier due to want of a better entry price. We are keeping a close watch on the developments on a continuous basis to see if we need to adjust the cash positions,' the fund manager portfolios have been pruned. In recent months, LCP exited Home First Finance, Everest Industries, and Credit Access Grameen, while adding Abbott India and Indegene. RGP exited the same three plus Astral, Tube Investments, and Poly Medicure, while inducting Control Print and remains vigilant: 'We are keeping a close watch on the developments on a continuous basis to see if we need to adjust the cash positions.'In a market battered by crosswinds, Marcellus' approach is simple but bold: hold only the best, pay the right price, and be ready with cash when opportunity strikes.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
23-05-2025
- Business
- Economic Times
Saurabh Mukherjea says his portfolio ready to climb walls of worry, backed by 3 factors
With storm clouds gathering over India's macroeconomic horizon and the tariff wars, star investor Saurabh Mukherjea is standing firm, armed with a concentrated portfolio, valuation discipline, and a pile of dry powder wherever needed. ADVERTISEMENT 'The macro-economic environment is going through a period of weakness,' Mukherjea warned, citing a confluence of domestic and global pressures. 'Rising household debt, weak capex, sluggish job creation, and slowing consumption demand' at home are being compounded by geopolitical uncertainty and tariff wars, which threaten to roil currency markets, inflation, and interest rates. But Mukherjea, who runs Marcellus PMS, believes his flagship Consistent Compounders Portfolio (CCP) is well-positioned to weather the turbulence—and possibly thrive in it. In a recent note to clients, he offered three distinct reasons why. At the heart of his defence strategy is a tightly focused portfolio packed with businesses that march to their own drumbeat, largely insulated from macro shocks.'Our largest allocations include companies whose fundamentals are relatively uncorrelated with the macro factors,' said Mukherjea. One of them: a hospital chain rapidly expanding overseas while optimising efficiency at home. Another: a pharma firm with monopolistic control over global API production for cough syrups and painkillers, and exclusive manufacturing rights for patented big pharma products. ADVERTISEMENT Mukherjea's second pillar is rooted in history. 'During periods when Nifty50's earnings growth is weak, companies with high quality of moats and capital allocation prudence outshine,' he backdrop tells the story. Between FY22 and FY25, the Nifty50 posted a robust 24% EPS CAGR—a tide that lifted all boats, regardless of quality. But Mukherjea insists the next phase will separate the contenders from the pretenders. ADVERTISEMENT ''When the going gets tough, the tough get going' by using their superior competitive advantages to gain market shares,' he said, adding that the CCP portfolio is well-aligned to capture these gains in a more challenging environment. ADVERTISEMENT Perhaps the most striking statistic: the 1-year forward P/E multiple of the CCP portfolio is now at its lowest since inception, following a recalibration of its constituents in 2024.'This puts our portfolio at a 25%-30% discount to its six-year average,' said Mukherjea, positioning it as a compelling value play in an uncertain market. ADVERTISEMENT Mukherjea's financials-focussed Kings of Capital Portfolio (KCP) remains heavily weighted toward private banks and NBFCs, but he has tightened the screws, cutting exposure to names with inconsistent growth or low RoEs.'We still don't find value in capital market-linked stocks and haven't added back any since our exit in late Sep'24,' he said. The combination of slim pickings and a re-rating in quality lenders has left KCP holding about 10% in cash—a strategic war chest amid market Little Champs Portfolio (LCP) and Rising Giants Portfolio (RGP) are also adapting to the new reality—emphasising earnings resilience, valuation discipline, and elevated cash levels.'Good quality stocks do fall during periods of market slowdown,' Mukherjea acknowledged. Cash, he said, will 'give some mitigation against these falls' and allow selective entries into oversold quality names.'This could be both increasing the position in the existing stocks, which see unwarranted correction + getting into coverage stocks, but which we had not invested earlier due to want of a better entry price. We are keeping a close watch on the developments on a continuous basis to see if we need to adjust the cash positions,' the fund manager portfolios have been pruned. In recent months, LCP exited Home First Finance, Everest Industries, and Credit Access Grameen, while adding Abbott India and Indegene. RGP exited the same three plus Astral, Tube Investments, and Poly Medicure, while inducting Control Print and remains vigilant: 'We are keeping a close watch on the developments on a continuous basis to see if we need to adjust the cash positions.' In a market battered by crosswinds, Marcellus' approach is simple but bold: hold only the best, pay the right price, and be ready with cash when opportunity strikes. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
02-05-2025
- Business
- Time of India
Can middle class depend on salaried employment? Saurabh Mukherjea gives 10 commandments of entrepreneurship
PMS fund manager Saurabh Mukherjea argues that India's middle class must shift its mindset to succeed in a changing economy where stable jobs are fading. In a recent note, he outlines the "Ten Commandments of Indian Entrepreneurship," a practical framework rooted in local business realities—emphasising risk-taking, patience, continuous learning, and relationship-building over traditional career paths. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 1) Take risks Popular in Markets 2) Simplify your life 3) Be patient 4) Embrace failure 5) Be happy standing out 6) Be caring 7) Be curious; keep learning; ignore credentialing 8) Relax and refresh (don't reflect) 9) Build trust outside your comfort zone 10) Nurture the next generation Arguing that stable, salaried employment—both in the public and private sectors—is increasingly a thing of the past, PMS fund manager Saurabh Mukherjea has said that the core of India's middle class needs an attitudinal shift to capitalise on opportunities in the country's vast, underdeveloped free-market a recent LinkedIn note, Mukherjea outlines how building businesses in India differs significantly from the Western model and proposes a set of principles—The Ten Commandments of Indian Entrepreneurship—that reflect the unique realities of Indian in the United States—where large, professionally managed public corporations dominate—the Indian business landscape is still characterised by family-run enterprises, community-based networks, and a conservative approach to ESOPs (Employee Stock Ownership Plans) are common in the West, they remain rare in Indian businesses, which typically rely on profit-based bonuses instead. Additionally, capital costs are much higher in India (over 12%) compared to the U.S. (under 6%), which influences how Indian entrepreneurs approach scaling and these challenges, entrepreneurship in India continues to grow—driven by a large domestic market, digitalisation, and a new generation of younger business leaders. To thrive in this environment, Mukherjea proposes a framework grounded in Indian realities:Focus on expected value (EV)-positive bets. Start small, build conviction, and scale up without risking your your daily routine with systems that enable deep work, creativity, and long-term entrepreneurship as an infinite game. Wealth creation is often back-ended—longevity matters more than is not a detour but part of the journey. Learn from it, adapt, and move forward without excessive emotional against the grain invites criticism. Stay focused on your goals and ignore external and nurture relationships—with colleagues, suppliers, customers, and distributors. Build an organisation rooted in learning and real skills and your 'inner scorecard'. Continuous learning should outweigh formal time to disconnect and reset. Avoid excessive brooding over the past or anxiety about the your network beyond your community or background. Cross-regional and cross-cultural ties build continuity. Train younger leaders who combine fresh perspectives with a deep understanding of capital and time.
