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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
A popular face on TV and the manager of over Rs 9,000 crore in assets, he is increasingly contradicting himself, imperilling investors’ interests.
On 18 January, in his newsletter to investors, Marcellus Investment Managers founder and chief investment officer Saurabh Mukherjea said that the fund house had exited one of his favourite stocks, Relaxo Footwears. In the year leading up to the sale, Relaxo’s shares had corrected by 33%, against the benchmark’s (S&P BSE 200) 1%.
On the face of it, a perfectly rational decision by a portfolio management services manager to cut his clients’ losses. Except for the timing. In his public appearances, in the days and weeks before the exit, Mukherjea had repeatedly reposed faith in the stock.
A deeper look …
A dismal track record in portfolio management services doesn’t help the firm as it takes its first steps in a crowded industry dominated by some heavyweights.
Vish Narain of Pulsar Capital on spotting real synergies between India and the Gulf, and why many entrepreneurs read the market wrong.
The managing partner at Key Capital talks about his new—and the region’s first-ever—secondaries fund and why long investment cycles are not everyone’s cup of tea.
