According to Marcellus’ Saurabh Mukherjea, top 20 companies account for 80% of the profits. This has kicked up a debate on social media and points out to an interesting conundrum that fund managers are facing. When both profit and market cap are getting concentrated to top 20 stocks, how should fund managers and investors look at them?
It has been a tough year for Marcellus Investment Managers. For one-year period ended December 31, 2022, the Consistent Compounders Portfolio was down 8.82% while the Nifty 50 total returns were up 5.69%. But over the long term — last five years — the portfolio has outperformed. Since December 2018, returns from Consistent Compounders work out to 17.13% against Nifty’s 14.64%. The portfolio consists of companies with a quality bias and large
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