Premium PMS that delivers all-weather alpha through proven Factor Investing techniques, Tactical Quants, and Rule-Based models.
Alpha-delivering strategies curated by experts
Designing portfolios using data-driven insights from 5 million data points across 5,000 companies over 17 years.
Karan, CFA
Co-founder, CIO and Portfolio Manager @ Elever PMS
15 plus years of experience in developing equity and fixed income products. Introduced and managed investment strategies totalling more than USD 5 billion at Indxx Capital. Specialised in serving AMCs, ETF sponsors, hedge funds and pension funds. Leveraging expertise in factor investing and quantitative research, he came up with a suite of ETF and equity portfolios at Elever, designed to outperform market benchmarks across market cycles.
He is an alumnus of MDI Gurgaon and a CFA charter holder.
The Elever Difference
Factor Alpha
Analyzed 500+ factors over 17 years to create algorithms that identify market winners across market cycles
Tactical Quants
We use machine learning to optimize factor rotation and enhance alpha adjusting to changing market conditions
Rule based Investing
Our rule-based investment decisions, tested over 17 years, eliminate human and emotional bias found in stock picking
Risk Management
Multi-layered risk control with tactical calls and hedging to guard against market extremes
Explore our PMS offerings
Our PMS portfolios are designed to deliver hedged exposure to long-term Alpha opportunities across investor risk profiles and economic cycles
Our Fees
| Fee Details | Fixed Fee | Performance Fee | Hurdle Rate (High-Water Mark) |
|---|---|---|---|
| Option 1 | 2.00% | 0% | NA |
| Option 2 | 1.00% | 15% | 12% |
| Option 3 | 0.50% | 10% | 0% |
| Option 4 | 0.50% | 20% | 10% |
- Taxes as applicable
- Other charges at actual
- Minimum investment capital of Rs.50 lakhs
- We follow the High-Water Mark principle
- Premature exit loads: 1% of NAV, if exited before 12 months
- Investors can directly onboard our Portfolio Management Services without intermediaries
Frequently Asked Questions
What is a Portfolio Management Service (PMS)?
A Portfolio Management Service (PMS) is a professional service where investment portfolios are managed by a portfolio manager on behalf of a client. The portfolio manager makes investment decisions such as strategy selection, asset allocation, and security selection based on the client's investment goals, risk tolerance, and other relevant factors. There are three types of PMS:
- Discretionary: The portfolio manager makes all financial decisions and actions without client involvement.
- Non-discretionary: The portfolio manager suggests possible actions, but the client makes the final decisions.
- Advisory: The portfolio manager provides advice to help the client make informed investment decisions, but the client executes the trades.
Who can invest in a PMS?
In India, PMS is typically offered to high-net-worth individuals, corporate bodies, institutional investors, and non-resident Indians (NRIs) due to the high minimum investment requirement. The Securities and Exchange Board of India (SEBI) mandates a minimum investment of INR 50 lakhs for PMS.
What are the benefits of a PMS?
PMS offer several advantages. Key benefits include:
- Customized Investment Solutions: PMS portfolios are tailored to individual needs and risk tolerance, unlike the one-size-fits-all approach of mutual funds.
- Direct Ownership: Investors directly own the securities in their PMS portfolios, as opposed to owning units of a mutual fund.
- Transparency: PMS provides high transparency with regular performance reports detailing portfolio holdings and changes.
- Exclusive Opportunities: PMS often grants access to unique investment opportunities such as pre-IPO shares, private equity, unlisted shares, and international markets.
- edicated Portfolio Manager: Clients have direct access to their portfolio manager for personalized advice and insights into investment decisions.
- Tax Efficiency: PMS allows for tax-efficient management of capital gains, as each transaction is specific to the investor.
What is the tax treatment in a PMS investment?
The tax liability for a PMS investor is the same as if they were directly accessing the capital market. However, it is advisable for the investor to consult with their tax advisor. The Portfolio Manager typically provides an audited statement of accounts at the end of the financial year, helping the investor accurately assess their tax liabilities.
What are the risks involved in investing in Elever PMS?
Investing in Elever PMS involves risks similar to those associated with stock market investments, including market risk, liquidity risk, and sector-specific risks. Elever PMS offers multi-factor portfolios comprising stocks, bonds, commodity derivatives, ETFs, and equity derivatives. While these portfolios enable thematic or sectoral investment, it's crucial to carefully consider how each theme or sector performs under current market conditions. We recommend that investors review the disclosure document for each scheme, available on the PMS website, before signing the agreement.
How are Elever PMS returns calculated?
At Elever, we calculate PMS returns using the Time-Weighted Rate of Return (TWRR) method. This approach accurately assesses the portfolio manager's performance by measuring returns over time, independent of any external inflows or outflows of funds. By isolating the manager's activities from the investor's contribution behavior, TWRR provides a fair and objective evaluation of the investment's performance.
How are Portfolio Management Services different from mutual funds?
Portfolio Management Services (PMS) differ from mutual funds in several key aspects. Firstly, PMS offers personalized investment strategies tailored to the specific needs and risk profiles of individual clients, while mutual funds provide a standardized solution managed according to a specific fund mandate. Secondly, in PMS, investments are held in the client’s name, offering greater transparency and control over the portfolio. In contrast, mutual funds pool assets from various investors. Lastly, PMS typically requires a higher minimum investment compared to mutual funds, targeting more affluent investors who seek bespoke investment services.
How to open an Elever PMS Account as an Investor in India?
Opening an Elever PMS account in India involves selecting Elever, a SEBI-registered portfolio manager, who will guide you through the process. This typically includes completing a detailed investor profile form to assess your investment goals and risk tolerance. You will also need to provide KYC documents and set up separate bank and Demat accounts in your name. These accounts are used exclusively for your PMS transactions, ensuring that all investments and returns are directly linked to you, the investor.
How do I invest in a PMS? Is a Demat account compulsory to invest in Elever PMS?
Investing in a PMS scheme typically begins with selecting a SEBI-registered portfolio manager and agreeing to the terms of service, which outline the investment goals, strategies, and fee structure. A Demat account is mandatory for investing in PMS, as it holds securities (stocks, bonds, etc.) in electronic form. Investors must ensure their KYC details are updated and may also need to provide a power of attorney to the portfolio manager to operate the account.
Can I sell my PMS investment at any time?
Yes, investors in a PMS can typically sell their investments at any time. However, it is important to consider any potential exit charges and the terms of the agreement with the portfolio manager. Since PMS strategies are generally designed for the long term, aligning your investment horizon with the strategy's objectives can be beneficial for achieving optimal results.
What is the capital gains tax on Elever PMS?
Capital gains tax on Elever PMS is levied on the profits generated from investments and is determined by the holding period of the assets. If assets are held for less than a year, short-term capital gains tax applies. For assets held longer, long-term capital gains tax is applicable. The tax rates vary depending on the specific asset class.