Latest news with #Elever
Economic Times
02-07-2025
- Business
- Economic Times
Elever launches India's first capital-protected monthly income PMS for retirees
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Sebi-registered portfolio management firm Elever on Wednesday said it has launched FactorCapro PMS , which it claims is India's first Portfolio Management Services (PMS) strategy designed to deliver steady monthly income with capital protection The strategy is aimed at retirees, conservative investors, and family offices, combining income generation with a capital-preserving investment on a proprietary glide-path model and a tactical asset allocation framework, FactorCapro starts with a 100% fixed-income allocation in its first year, ensuring full capital the second year onward, the portfolio transitions gradually into a diversified multi-asset mix comprising equities, debt, gold, and international ETFs. This structure is designed to adapt dynamically to market cycles using what Elever describes as a 'tactical risk rotation' framework, which aims to shield capital during downturns and enhance returns during bull launch comes against the backdrop of India's widening retirement income gap. According to the Mercer CFA Institute Global Pension Index 2024, India ranked last among 48 countries for pension adequacy, with a score of 44, down from 45.9 in 2023. Elever said FactorCapro addresses this critical shortfall by offering a transparent, professionally managed solution that balances income needs with risk management."The Indian retirement income market has long presented investors with an inadequate choice between low-yielding traditional instruments and high-risk equity exposure," said Karan Aggarwal, Co-Founder and CIO of claimed FactorCapro aims to deliver higher tax-efficient monthly income than traditional instruments such as annuities and fixed deposits. The company also highlighted that, unlike other high-income investment options such as Systematic Withdrawal Plans (SWPs) into Balanced Advantage or Equity Funds, FactorCapro is designed to maintain capital even during periods of significant market stress.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
02-07-2025
- Business
- Time of India
Elever launches India's first capital-protected monthly income PMS for retirees
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Sebi-registered portfolio management firm Elever on Wednesday said it has launched FactorCapro PMS , which it claims is India's first Portfolio Management Services (PMS) strategy designed to deliver steady monthly income with capital protection The strategy is aimed at retirees, conservative investors, and family offices, combining income generation with a capital-preserving investment on a proprietary glide-path model and a tactical asset allocation framework, FactorCapro starts with a 100% fixed-income allocation in its first year, ensuring full capital the second year onward, the portfolio transitions gradually into a diversified multi-asset mix comprising equities, debt, gold, and international ETFs. This structure is designed to adapt dynamically to market cycles using what Elever describes as a 'tactical risk rotation' framework, which aims to shield capital during downturns and enhance returns during bull launch comes against the backdrop of India's widening retirement income gap. According to the Mercer CFA Institute Global Pension Index 2024, India ranked last among 48 countries for pension adequacy, with a score of 44, down from 45.9 in 2023. Elever said FactorCapro addresses this critical shortfall by offering a transparent, professionally managed solution that balances income needs with risk management."The Indian retirement income market has long presented investors with an inadequate choice between low-yielding traditional instruments and high-risk equity exposure," said Karan Aggarwal, Co-Founder and CIO of claimed FactorCapro aims to deliver higher tax-efficient monthly income than traditional instruments such as annuities and fixed deposits. The company also highlighted that, unlike other high-income investment options such as Systematic Withdrawal Plans (SWPs) into Balanced Advantage or Equity Funds, FactorCapro is designed to maintain capital even during periods of significant market stress.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
12-06-2025
- Business
- Economic Times
PMS Tracker: Top 15 funds gain up to 16.5% in May; Elever, Axis strategies lag
Bottom performers: Elever, Aequitas, Axis strategies underperform Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel At least 15 PMS funds across smallcap, midcap, and multi-cap strategies delivered solid gains in May 2025, with Money Grow Asset's Small Midcap strategy emerging as the top performer with a 16.5% monthly return, according to data from PMS Asset Managers' Clean Tech Portfolio followed closely with a 16% return. Negen Capital's Special Situations and Technology Fund gained 15.35%, while Nine Rivers Capital's Aurum Small Cap Opportunities returned 14.4%. Samvitti Capital's PMS Aggressive Growth strategy also featured prominently with a 14.39% return in Investment Advisors' Emerging Giants strategy posted a 14.29% gain, and Waya Financial Technologies' Bin73 Sunrise Alpha, a new entrant in the small and midcap segment, rose 14.14%. Anand Rathi's Decennium Opportunity strategy returned 13.91%, while Bonanza Portfolio's Multicap fund and Accelt's Long Term Equity Fund gained 13.87% and 13.80%, funds in the top 15 include portfolios managed by Samvitti Capital, ithought Financial, Master Portfolio Services, and Tulsian PMS, each delivering monthly gains of over 13%.While many strategies posted double-digit gains, a few funds underperformed during the month. Elever Investment Adviser's Factorshields PMS was the biggest laggard, slipping 0.91%, followed by its Factoralpha PMS, which declined 0.58%.Aequitas Investment Consultancy's India Opportunities Product lost 0.33%, while Axis Securities' AlphaSense AI strategy declined 0.30%. Invasset's Growth Pro Max fell 0.26%, and Kotak Mahindra AMC's Pharma and Healthcare strategy was down 0.23%.Other funds with relatively muted performance include Profusion Investment's Income Enhancer (up 0.11%), PRPEdge Wealth's Alphaa Better Risk Reward (up 0.13%), and Agreya Capital's Multi-Asset Enhancer (up 0.21%).In May, the performance gap among PMS strategies was wide, with high-beta smallcap and thematic strategies staging a sharp rebound, while select sectoral, quant-based, and hybrid portfolios struggled to keep pace.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
06-05-2025
- Business
- Time of India
ETMarkets PMS Talk: Karan Aggarwal on India's 10-year wealth themes - Banks, infra & financial inclusion to lead
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In this episode of ETMarkets PMS Talk, we speak with Karan Aggarwal , Co-Founder and CIO at Elever, a quant-based PMS, who shares his insights on India's evolving investment landscape and the factors shaping long-term wealth India navigates global volatility and prepares for its next growth cycle, Aggarwal identifies banks , infrastructure, and financial inclusion as the key pillars that will drive the country's wealth story over the next the tactical success of the Elever FactorShields Fund, which delivered 20% returns in FY25, to sharp views on the US-led macro shifts and sector rotation strategies, Aggarwal outlines how investors can align portfolios for stability and long-term alpha. Edited Excerpts –A) EleverShields has delivered around 20% in total returns over FY 2025 while benchmark has delivered around 11% during the same are in market correction since Sep 2024 and EleverShields has delivered losses of around 7% during same period vis-à-vis losses of around 11% for the benchmark. Strategy outperformed benchmark in 7 out of 12 underperformance of around 2% came in month of EP 2024, a month marked with extreme bullish movement.A) 20% returns translate to gains of INR 10 Lakhs on investment of INR 50 Lakhs. In this hypothetical scenario, investor would have sitting at corpus of INR 60 Lakhs.A) Elever FactorShields provides tactical exposure to relatively low-risk factors such as low volatility, dividend, quality, and value, with 100% allocation restricted to the top 200 companies listed on the NSE (midcap and large-cap space).Portfolio building involves a two-step process. In the first step, individual factor portfolios are constructed around multiple factors with the goal of alpha maximization. Each of these factor portfolios is designed to outperform the broader markets over a holding period of 10-15 there is significant divergence in the alpha behaviour of different factors. For example, alpha expansion for the low volatility and dividend factors is typically maximized during bearish market conditions, while alpha for the momentum factor is maximized during bullish market the other hand, factors like quality provide consistent but relatively lower alpha across market conditions. Essentially, each factor has its own risk profile and alpha strategy improves risk-adjusted returns by rotating across alpha-maximizing factors in line with market a tactical rotation model, a market call is made, and based on that call, suitable factor portfolios are selected to build the final portfolio. In a nutshell, the strategy is a "fund of factor portfolios."In FactorShields, exposure is restricted to low-risk factors like low volatility and dividend during bearish phases. During market consolidation or bullish phases, the allocation is increased to moderate-risk factors such as quality and strategy is designed to deliver low-risk alpha to investors with a moderate risk profile, without exposure to high-risk factors or stocks outside the top 200 stocks on the NSE.A) We are looking at the end of the nearly half-century status quo where the US was printing currency and buying goods and services from other countries while beneficiary countries were providing a part of earnings back to the US government in the form of debt nearly quadrupling since 2008 GFC and interest payments at around US$ 1.5 Trillion, this economic model is way past its expiry US is expected to opt for 'voluntary recession' in the next 12 months to navigate the biggest debt restructuring exercise in human history and it would create multiple 'volatility ripple' events (we have already seen tariff tantrums) throughout FY can have multiple-degree impacts on the Indian economy as the IT sector is one of the largest sources of white-collar employment with secondary negative impacts on real estate sectors of dollar cities such as Gurgaon/Bangalore and urban said that, relative underperformance of India vis-à-vis global peers in last 6 months of FY 25 has placed it favourably on technical charts in FY 26 and we expect Nifty 50 respect bottom of 21,300-21,800 during global volatility events with sustainable recovery expected from June-July onwards on the back of USD depreciation, low inflation and FII rotation away from have seen some proactive steps from the government/RBI to counter global headwinds with budget tax incentives, RBI rate cuts/liquidity boosters and a potential Indo-US trade we expect the Nifty 50 to make a new high by Diwali 2025, the trajectory of markets would be largely decided by the effectiveness of aforementioned initiatives in neutralizing adverse impact of global disturbances.A) In the medium-term, consumer staples and power utilities look good as they are driven by domestic demand and largely protected against demand rural consumption in India growing at nearly 2x vis-à-vis urban consumption, sectors linked to rural themes such as seeds and fertilizers also seem to be a decent bet for the next few one is looking beyond the next 2 years, Banks and NBFCs stand out as the bank credit to GDP ratio for India is one of the lowest among G20 India is expected to become a middle-income country in the next 15 years, financial inclusion would catch up with other EM peers and these sectors would be natural beneficiaries. Infra is another 10-year story as India looks to cover the infrastructure gap with China over next decade. However, valuations are quite frothy in many sectors despite recent corrections.A) We have been expecting a US volatility spike in April 2025 for the last 6 months. Our models were already showing a partial cash call since Sep 2024 and the March rally gave us an opportunity to lighten the portfolio gradually with nearly 60% cash positions by captured global volatility spikes and triggered risk rotation in 1st week of April and we gradually shifted positions to low-risk factors while deploying the cash strategically to leverage the dips. We still have sufficient cash on books to leverage expected dips in first 15 days of May 2025.A) Typically, all investments follow a standard rule in the long-term – 'High Risk High return, Low Risk Low Return'.For example, savings return 4% as it is zero-risk while FD give 6%-8% as it comes with liquidity risk, Similarly, AAA-rated government bonds provide returns of 8%-9% while low-credit bonds provide returns of 12%-13% as there is default risk with low-credit low-volatility stocks are supposed to underperform broad benchmarks to account for lower risk associated with studies across global markets reveal that in the real world, low volatility stocks tend to outperform broad benchmarks as positive alpha during bear markets is large enough to compensate for negative alpha during bullish phase. This anomaly is globally known as 'low volatility anomaly'.FactorShields improvise on low-volatility anomaly by striving to maximize positive alpha during bear market while maintaining zero or slightly positive alpha during bullish phase, thus enhancing low-risk alpha for investors.A) Factorshields starts with top 200 companies listed on NSE. These stocks have to pass an inversibility filter which sets criteria around market cap, liquidity and free pre-defined factor scoring rules, filtered companies are ranked on various factors such as quality, value, volatility, dividend, alpha, on pre-set security selection and weighing rules around factor scores, factor portfolios are built. Some of the portfolios are a combination of two or more factors and sector/size constraints would also be part of the security selection of these portfolios are managed independently and follow different review the next step, based on output from our proprietary tactical model, a decision is made on which factor portfolios have to be selected and how much weight has to be allocated to each of the selected portfolios which leads to creation of the 'Fund of factor portfolios'.In Factorshields, factor portfolios covering low volatility, dividend, quality and value are considered for selection.A) If we look at back tested data, during 2008 GFC, Nifty 50 went down by around 63% from its 2007 peak while EleverShields cut the losses to 32%.Coming to live data since Oct 2024, while benchmark has lost 9%-10% till Mar 2025, EleverShields restricted the losses to 4%-5%. We would not say that risk is completely eliminated but based on data, it can conclude that risk has been less than standard equity products in the management in EleverShields comes in multiple layers. First of all, lower systematic risk with exposure restricted to low-to-moderate risk risk is also quite limited with exposure limited to top 200 companies on NSE. At model level, tactical models provide insights on factor selection to optimize risk allocation in line with market there are two approaches to manage equity risk. Tactical model provides cash calls which indicate reduction of equity exposure during high volatility periods or periods prone to equity strategically, long positions in index put options are also taken to explicitly hedge market risk.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
