Asset Management
Overview
As Foreign Institutional Investors in India, Elara Capital PLC offers a wide array of products, funds and investment strategies into global markets and specifically the Indian region.
Elara’s Asset Management team serves a host of International clients including Private Banks, Hedge funds, Sovereign-Wealth funds, Pension funds, Family offices and High Net worth Individuals, all of which hold an explicit view on the future growth and development of India.
Elara’s investment philosophy reflects the fact that requirements and investors needs will always vary. Rigorous client assessment and advanced portfolio construction techniques are therefore tailored for specific performances of each investor. We thoroughly believe that each investor’s asset allocation mix should be reviewed and rebalanced on a regular basis, resulting in a performance profile that creates the confidence and comfort necessary to make the right decisions in both smooth and turbulent times, maintaining a consistent over the long-term.
Our divisions expertise derives from a team of investment professionals with a wealth of experience of servicing clients and investing into the Indian capital markets.
With the best interest of our clients in mind, we continue to maintain the highest level of efficiency in providing our investment services and will constantly review the viability of the most tax efficient structures for our client’s investments into various Asian and World markets.
Asset Management - Equity Fund
Elara India Opportunities Fund
Elara India Opportunities Fund Ltd. (EIOFL) is incorporated as a Category-1 Global Business Licensed Mauritius domiciled fund, following different investment strategies into the Indian capital markets. EIOFL has a Foreign Institutional Investor registration with the Securities and Exchange Board of India (SEBI) as a sub-account of Elara Capital Plc (FII).
Elara India Opportunities Fund may undertake the following investments / strategies into India:
- Foreign Direct Investment
- Equities
- Futures & Options
- Mutual Funds
- Government & Corporate Paper
- Conversion of Depository Receipts & Foreign Currency Convertible Bonds issued by Indian corporates into the local market.
Being a registered entity in Mauritius, the fund pays no tax in either India or Mauritius.
| Fund | Elara India Opportunities Fund Limited |
| Domicile | Mauritius |
| Currency | US Dollars |
| NAV | Calculated on weekly basis |
| Auditors | KPMG Ltd (Mauritius) |
| Bankers in India | ICICI Bank Ltd. |
| Bankers in Mauritius | HSBC Ltd. |
| Custodian | ICICI Bank Ltd. |
| Administrators | Apex Fund Services Ltd. (Mauritius) |
| Entry fee | zero |
| Management & Custody fee | Accrued monthly, payable yearly |
| Transaction fee | At time of transaction |
| Redemption | Weekly redemptions, no fee. Special redemptions, $1500. |
Asset Management
Elara Absolute Return Fund
The objective of the Elara Absolute Return Fund (EARF) is to generate consistant capital and income growth for its investors. EARF holds a category 1 Global Business License from the Financial Services Commission (FSC) of Mauritius.
Absolute returns are achieved through investments made into arbitrage opportunities of Indian Depositary Receipts and their local derivative segments. The Fund can also choose to invest in key Indian Initial Public Offerings and accomodate convertible bond, special situations and other money market instruments. These investments will be made through appropriate channels where necessary.
EARF has an annual target return of 18% with subscriptions and redemptions made possible on a monthly basis. However, we advise investors not to withdraw funds prior to the ideal investment horizon of one year.
Being a registered entity in Mauritius, the fund pays no tax in either India or Mauritius.
Fund Information
| Fund | Elara Absolute Return Fund |
| Domicile | Mauritius |
| Currency | US Dollars |
| NAV | Calculated on monthly basis |
| Auditors | BDO de Chazal Du Mee (Mauritius) |
| Bankers in India | ICICI Bank Ltd. |
| Bankers in Mauritius | HSBC Ltd. |
| Custodian | ICICI Bank Ltd. |
| Administrators | Intercontinental Trust (Mauritius) |
| Fund Manager | Vikas Chauhan |
| Entry fee | zero |
| Management Fee | 1.5% per annum, accrued monthly and payable on quarterly basis |
| Performance fee | 15% of increase in NAV, accrued monthly and payable on 31st March |
| Redemption | Monthly redemption, no fee. |
| Target Returns | 12% - 15% per annum |
| Minimum Investment | $ 100,000 |
| Life | Open Ended |
| Ideal Investment Horizon | 1 Year or more |
Performance Tables
| Jan | Feb | Mar | April | May | June | July | Aug | Sep | Oct | Nov | Dec | YTD | |
| 2011 | -1.37 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | -1.37 |
| 2010 | 1.38 | 0.22 | 1.98 | 3.43 | -2.89 | 0.69 | 0.50 | 0.27 | 2.67 | 2.02 | -1.12 | 1.73 | 11.26 |
| 2009 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | 0.01 | 1.14 | 1.15 |
Download Monthly Factsheets
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EARF_Factsheet_January 2011 |
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EARF_Factsheet_December 2010 |
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EARF_Factsheet_November 2010 |
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EARF_Factsheet_October 2010 |
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EARF_Factsheet_September 2010 |
Asset Management
Elara Emerging Markets Fund
Elara Global Funds – Elara Emerging Markets Fund (EEMF) is an open-end long only growth fund focused on long term capital appreciation through investments made into Indian equities. The fund is incorporated in Luxembourg under the SICAV umbrella of Elara Global Funds and has Foreign Institutional Investor (FII) registration with the Securities and Exchange Board of India (SEBI) as a sub-account of Elara Capital Plc.
Investing solely into Indian equities, Elara Emerging Markets Fund is ideal for those investors who believe in the Indian growth story yet do not wish to expose themselves to the risks associated with stock picking in an emerging economy.
Our carefully selected portfolio of both large and mid-cap Indian companies has seen Elara Emerging Markets Fund consistently outperform its peers and the benchmark index, the S&P CNX Nifty, since inception, making it one of the top performing funds investing into India today.
The fund's solid performance credentials are testament to the dynamic yet rigorous approach taken by the team in all investment decisions.
We endeavor to update our clients on the performance of their investment in Elara Emerging Markets fund via our monthly commentary & performance factsheet. You may also monitor the progress of Elara Emerging Markets Fund via Bloomberg (ELAEMMK LX Equity)
Fund Information
| Fund | Elara Global Funds – Elara Emerging Markets Fund |
| Domicile | Luxembourg |
| Currency | US Dollars |
| NAV | Calculated on monthly basis |
| Auditors | KPMG (Luxembourg) |
| Bankers in India | HSBC Ltd. |
| Custodian | RBC Dexia (Luxembourg) |
| Administrators | RBC Dexia (Luxembourg) |
| Entry fee | zero |
| Management Fee | 1.5% per annum, payable monthly |
| Performance fee | 10% with high water mark of 10% p.a. accrued monthly & payable annually |
| Redemption | Monthly redemption, no fee. |
Asset Management
FII Sub-account access
Investing into India can be a complex procedure due to the stringent rules and regulations adhered to by the Securities & Exchange Board of India (SEBI). However Elara Capital PLC as Foreign Institutional Investor in India offers global entities the opportunity to list with SEBI as a registered sub-account of Elara Capital PLC.
Elara Capital PLC currently oversees and is responsible to the local Indian regulators for the conduct of a number of global registered sub-accounts under its FII name.
Benefits of this route into India include -
- Less stringent eligibility criteria for creation of subaccount as opposed to registration as FII.
- Less paperwork for Sub-account application with indicative turnaround by SEBI of 3 working days.
- Shares can be held in Sub-accounts own name
- Sub-account is treated as a separate entity for taxation purposes and taxes calculated are in no way influenced by investments made by the FII on behalf of other sub-accounts.
- Sub-account may use another Custodian as opposed to the FII’s.
- Sub-account has the freedom to trade in any listed share or derivative & in any size, subject to any regulatory limitations.
Asset Management
Contracts for Difference
A CFD (Contract For Difference) is an agreement to exchange the difference in value of a particular asset between the time at which the contract is opened and the time at which it is closed.
Our online dealing platform allows you to trade Stock Indices, FX, Energies, Share CFDs, Metals, Commodities, Rates & Bonds, Binary Options & have Direct Market Access to most major equity markets.
Benefits of Contracts for Differences include –
- 24-hour access to the world’s financial markets from a single account.
- Dedicated Elara Capital PLC Trader.
- Go long, or short.
- Geared product, allowing you to trade only a percentage of the capital required to trade the physical equivalent.
- Immediate execution – One click trading
- Exempt from stamp duty on certain shares (for example those in the UK & Ireland)
Media & Press Releases
Godrej's Acquisition of Issue Group
We are pleased to announce that Elara Capital acted as the financial advisor to Godrej Consumer Products Limited (hereinafter referred to as “GCPL”) on its acquisition of...
Prakash Industries Ltd (PKI) receives impressive response to its USD50 million FCCB issue
The global appetite for the Indian paper seems to be steadily growing even amid fresh signs of an economic strain across Europe and the United States....