Elever launches India’s first capital-protected monthly income PMS for retirees

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 approach.

Built 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 protection.


From 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 phases.

The 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 Elever.

Elever 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.

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