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Kings of Capital

Marcellus Investment Managers Pvt Ltd
PMS Large Cap
Benchmark
Nifty 50 TRI
Inception Date
28 July 2020
Min. Investment
₹50,00,000
AUM (Cr.)
₹191.36
SIP Available
No
STP Available
Yes

Investment Strategy

Investment Approach

**Key Investment Attributes:** * **Robust Financial Practices:** Companies exhibiting sound accounting principles and strong corporate governance frameworks are prioritized. * **Proven Capital Management:** A track record of disciplined and effective capital allocation strategies demonstrates financial prudence. * **Sustainable Competitive Advantages:** High entry barriers ensure that portfolio companies can consistently achieve returns on capital exceeding their cost of capital, fostering long-term value creation.

Investment Objective

The "Kings of Capital" strategy is designed to construct a concentrated portfolio of 10 to 14 select, high-calibre financial sector entities. This includes companies across banking, non-banking financial companies (NBFCs), life insurance, general insurance, asset management, and brokerage services. The selection criteria prioritizes firms demonstrating robust corporate governance, disciplined capital deployment, and significant competitive advantages.

Performance Returns

Returns as on 2025-12-31

Trailing Returns

Period Strategy Benchmark Outperformance
1 MONTH -1.82% -0.28% -1.54%
3 MONTHS 2.92% 6.33% -3.41%
6 MONTHS -2.52% 2.92% -5.44%
1 YEAR 10.97% 11.88% -0.91%
2 YEAR 10.51% 10.97% -0.46%
3 YEAR 11.72% 14.32% -2.60%
5 YEAR 6.62% 14.68% -8.06%
SINCE INCEPTION 10.89% 18.40% -7.51%

Calendar Year Performance

Year Return
CY 2025 10.97%
CY 2024 10.06%
CY 2023 14.19%
CY 2022 -4.41%
CY 2021 3.34%
CY 2020 27.17%

Financial Year Performance

Year Return
FY 26_YTD 4.85%
FY 25 20.02%
FY 24 19.10%
FY 23 -10.31%
FY 22 3.15%
FY 21 26.76%

Past performance is not indicative of future results. Returns are subject to market risks.

Fund Managers

Tej Shah

Fund Manager

Before his tenure at Marcellus, Tej was associated with Mayfield, a venture capital firm based in Silicon Valley with global assets under management of USD 3 billion and USD 220 million dedicated to India. During his two-year engagement with Mayfield India's investment division, he engaged in a diverse range of sector coverage and actively participated in India's dynamic venture capital landscape. His prior experience includes a role within Ambit Capital's equity and capital markets division, where he was involved in the execution of Initial Public Offerings (IPOs), Qualified Institutional Placements (QIPs), and share buyback programs.

Portfolio Details

Portfolio Composition

Large Cap
64.00%
Mid Cap
7.00%
Small Cap
28.50%
Cash & Equivalent
0.50%

Top 5 Holdings

  • HDFC Bank Ltd. 13.00%
  • ICICI Bank Ltd 10.00%
  • Cholamandalam Investment and Finance Company Ltd. 8.00%
  • Kotak Mahindra Bank Ltd. 7.00%
  • Info Edge India Ltd 7.00%

Top 5 Sectors

  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A

Portfolio Characteristics

total number of stocks
13
top 5 stocks percent
45.00%
top 5 sectors percent
N/A
average market cap
N/A
portfolio age
5 Yrs, 5 Months
sip
Not Available
stp
Available

Fee Structure

Fixed Fee

AMC: 2.5%

Variable Fee

AMC: 1.5%

Hurdle: 10%

Profit Sharing: %

Exit Load

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Disclaimer

Returns are as of 2025-12-31. Returns for periods up to one year are not annualized. Returns for periods exceeding one year are annualized. Returns are computed using the Time Weighted Rate of Return (TWRR) methodology and are provided by the respective Asset Management Companies (AMCs). 'ND' denotes 'No Data', and 'NA' denotes 'Not Applicable'. The performance of the respective Benchmark Indices is presented above. Benchmark(s) are as defined in SEBI circular no. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2022/172 dated December 16, 2022, APMI circular no. APMI/2022-23/02 dated March 23, 2023, and Revised Annexure-1.

This page is provided solely for general informational purposes in relation to the strategy and is based on publicly available information. While reasonable care has been taken to ensure accuracy, the information may not reflect the most recent updates.

Nothing on this page constitutes investment, financial, or legal advice. Investment decisions should be made after consulting a qualified advisor and reviewing official scheme documents.

Last Updated: January 2026 · Published by Affluense AI (affluense.ai)