Marcellus Investment Managers Gets Final SEBI Approval for Mutual Fund Business

Marcellus Investment Managers has received final approval from the Securities and Exchange Board of India (SEBI) to begin its mutual fund business in India. The firm announced the approval on Wednesday, September 30. 

This takes Marcellus beyond its existing Portfolio Management Services (PMS) and Alternative Investment Fund (AIF) businesses. The mutual fund business will operate through a regulated investment structure and target a wider group of investors. 

Mutual Fund Entry 

Marcellus was founded in 2018 by a group of Indian investment professionals. The firm said its new mutual fund platform will allow it to access a larger pool of household savings in India. 

Its investment process has centred on studying companies in detail. This includes reviewing financial statements and governance practices, along with their competitive position, capital allocation history, and ability to sustain business performance over time. 

Investment Process 

The firm has followed this approach across its PMS and AIF offerings. Its portfolios have focused on businesses with strong fundamentals and governance, with a long-term holding period and relatively low portfolio churn. 

Saurabh Mukherjea, Chief Investment Officer at Marcellus Investment Managers, said the mutual fund structure would allow the firm to follow its investment philosophy at a larger scale through a transparent and regulated format. 

Industry Size 

The entry comes as mutual funds and systematic investment plans (SIPs) have become a part of household financial investments in India. As of August 2026, 55 mutual fund houses managed assets worth more than ₹87 lakh crore. 

Marcellus said mutual fund assets as a share of India’s GDP remain lower than in several developed markets. It noted that household participation in market-linked savings and investments could therefore increase over time. 

Fund House Plans 

Pramod Gubbi, Managing Director and CEO of Marcellus Mutual Fund, said the firm’s focus would be on setting up processes, communication and execution for the new business. 

The firm said it would take time to develop and launch products that remain aligned with its investment approach as it starts operations in the mutual fund segment. 

Read More: Apple Pay Enters India Through Axis Bank with Visa, Mastercard Cards! 

Conclusion 

The SEBI approval marks Marcellus Investment Managers’ entry into the mutual fund business after operating through PMS and AIF offerings since 2018. The new platform will bring its existing investment approach to a broader investor base. 

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