Alok Agarwal is the Deputy Chief Investment Officer at Alchemy Capital Management and a fund manager associated with multiple PMS and AIF strategies. He has over two decades of experience in Indian equities and public markets, with a focus on equity research and fund management.

Does Alok Agarwal manage both PMS and AIF strategies?

Yes. His current associations include multiple PMS strategies as well as the Alchemy Smart Alpha 250 Fund AIF, subject to the latest scheme-level documentation and fund status.

Who co-manages Alchemy Ascent and Alpha 100 with Alok Agarwal?

Deven Ved is identified as Co-Fund Manager, Quant for both Alchemy Ascent and Alchemy Alpha 100.

Does Alok Agarwal manage Alchemy Ascent?

Yes. Alok Agarwal is identified as Fund Manager for Alchemy Ascent, which is classified as a Quant PMS strategy. Deven Ved is identified as Co-Fund Manager, Quant.

Does Alok Agarwal manage Alchemy High Growth?

Yes. Alok Agarwal is identified as Fund Manager for Alchemy High Growth, an Active, growth-oriented flexi-cap PMS strategy.

Which Alchemy PMS strategies does Alok Agarwal manage?

His current PMS associations include Alchemy High Growth, Alchemy W.I.N. Strategy, Alchemy Ascent, Alchemy Alpha 100, Alchemy Alpha Smallcap, Alchemy Smart Alpha 250 and Alchemy Smart Alpha Micro & Smallcap, subject to current scheme-level documentation.

What is Alok Agarwal's eQGP investment framework?

eQGP stands for Environment, Quality, Growth and Price. It is a framework used in relevant Active + Quant strategies to evaluate companies through business and operating environment, quality, growth potential and valuation.

Where did Alok Agarwal work before joining Alchemy Capital?

Before joining Alchemy in 2022, his career included experience with PGIM India AMC, Deutsche Asset Management, KR Choksey Shares & Securities and E-nxt Financials Ltd.

What are Alok Agarwal's qualifications?

Alok Agarwal is a CA, CFA and CMT charterholder and holds master's degrees in Commerce and Finance.

How much experience does Alok Agarwal have in equity markets?

Alok Agarwal has over two decades of experience in Indian equities and public markets. His experience includes equity research, asset management and fund management.

What is Alok Agarwal's role at Alchemy Capital Management?

Alok Agarwal serves as Deputy Chief Investment Officer. In addition to his firm-level role, he is identified as Fund Manager across selected active, quantitative and Active + Quant investment strategies.

What is Alok Agarwal's approach to quantitative investing?

His quantitative investment work is process-driven and data-oriented, with systematic methods playing an important role in relevant Quant strategies. His broader responsibilities also span Active and Active + Quant approaches, so the methodology varies by individual strategy.

Alok Agarwal | Fund Manager, Alchemy Capital

Alok Agarwal

Deputy Chief Investment Officer & Fund Manager, Alchemy Capital Management

He is the current APMI-listed fund manager for the strategy. He has more than two decades of experience in equity fund management and joined Alchemy in 2022 after previously working with PGIM India AMC, Deutsche Asset Management, KR Choksey Securities, Tata Group and Pinnacle Academy. He holds CA, CFA and CMT qualifications along with a Master's in Commerce and Finance.

Deputy Chief Investment Officer & Fund Manager, Alchemy Capital Management | Active, Quant & Active + Quant Strategies

Alok Agarwal is the Deputy Chief Investment Officer (Deputy CIO) at Alchemy Capital Management and a fund manager across several of the firm's PMS and AIF strategies. He has over two decades of experience in Indian equities and public markets, with a strong focus on equity research and fund management. He joined Alchemy in 2022 and contributes to active, quantitative and Active + Quant investment approaches.

About Alok Agarwal

Alok Agarwal is an investment professional with more than two decades of experience across Indian equities, public markets, equity research and fund management. He joined Alchemy Capital Management in 2022 and currently serves as Deputy Chief Investment Officer.

Before joining Alchemy, his professional experience included roles with PGIM India AMC, Deutsche Asset Management, KR Choksey Shares & Securities and E-nxt Financials Ltd. His career has included work across equity research, public-market investing and portfolio management.

At Alchemy, Alok is associated with multiple investment strategies spanning fundamental active investing, quantitative investing and Active + Quant approaches. His responsibilities include applying structured research and investment processes to Indian equity portfolios, with the specific methodology varying by strategy.

Alchemy's current investment team identifies Alok as Deputy CIO and notes his focus on equity research and fund management.

Education and Professional Qualifications

Alok Agarwal's professional qualifications combine accounting, finance and market-analysis expertise. He is a:

Chartered Accountant (CA)
Chartered Financial Analyst (CFA)
Chartered Market Technician (CMT) charterholder
Holder of master's degrees in Commerce and Finance

This combination of qualifications provides a foundation across financial analysis, valuation, accounting, portfolio research and market analysis.

His professional experience has subsequently expanded this foundation through roles across asset management, investment management, equity research and public markets.

Alok Agarwal Career Timeline

Period	Career milestone
Early career	Began his professional career across financial research, investment and market-related roles.
KR Choksey Shares & Securities	Developed experience in equity research and Indian public markets.
Deutsche Asset Management	Worked within an institutional asset-management environment, gaining exposure to professional investment processes.
E-nxt Financials Ltd.	Added experience across financial markets and investment-related functions.
PGIM India AMC	Worked across investment mandates and gained further experience in domestic and offshore-oriented portfolios.
2022	Joined Alchemy Capital Management.
Current	Serves as Deputy Chief Investment Officer and fund manager across selected Alchemy strategies.

The career progression reflects Alok's development from research and market analysis into broader fund-management responsibilities. Specific historical mandates should be distinguished from his current scheme-level responsibilities.

Alok Agarwal Investment Philosophy: eQGP, GARP and Data-Driven Research

Alok Agarwal's investment work spans both active and quantitative approaches, meaning the investment process can differ significantly between individual strategies.

One important framework associated with Alchemy's Active + Quant strategies is eQGP — Environment, Quality, Growth and Price. The framework brings together business and market considerations with valuation discipline rather than assessing a company through a single metric.

Environment

The investment process can consider the broader operating environment surrounding a company, including industry conditions, competitive dynamics and factors that may influence the sustainability of its business prospects.

Quality

Quality assessment focuses on characteristics of the underlying business, including financial strength, business economics, management quality and the ability to sustain attractive business performance.

Growth

Growth evaluates the potential for businesses to expand earnings and cash flows over time. The focus is not simply on historical growth but on whether the underlying business has characteristics that can support future growth.

Price

Price introduces valuation discipline into the investment process. The attractiveness of a business is considered alongside the price at which its securities are available, recognising that valuation can influence investment outcomes.

The eQGP framework is relevant to Alchemy's Active + Quant strategies and should not be interpreted as a claim that every Alchemy product uses an identical methodology.

Alchemy's Quant strategies use a more systematic, data-driven approach. Its current PMS range categorises Alchemy Ascent, Alchemy Alpha 100 and Alchemy Alpha Smallcap under Quant, while Smart Alpha 250 and Smart Alpha Micro & Smallcap are classified as Active + Quant.

Funds and PMS Strategies Managed by Alok Agarwal

Alok Agarwal is associated with several current Alchemy strategies. His role can differ between products, and the latest scheme documentation should be used for confirmation of the current fund-management structure.

Strategy	Management style	Alok Agarwal's role
Alchemy High Growth PMS	Active	Fund Manager
Alchemy W.I.N. Strategy PMS	Active	Fund Manager
Alchemy Ascent PMS	Quant	Fund Manager; Deven Ved is Co-Fund Manager, Quant
Alchemy Alpha 100 PMS	Quant	Fund Manager; Deven Ved is Co-Fund Manager, Quant
Alchemy Alpha Smallcap PMS	Quant	Fund Manager; Deven Ved is Co-Fund Manager
Alchemy Smart Alpha 250 PMS	Active + Quant	Fund Manager
Alchemy Smart Alpha Micro & Smallcap PMS	Active + Quant	Fund Manager
Alchemy Smart Alpha 250 Fund AIF	Active + Quant	Fund Manager

Alchemy currently groups its PMS offerings into Active, Quant and Active + Quant management styles. Its listed Quant strategies include Alchemy Ascent, Alpha 100 and Alpha Smallcap, while Smart Alpha 250 and Smart Alpha Micro & Smallcap are classified as Active + Quant.

Alchemy High Growth

Alchemy High Growth is an Active PMS strategy with a growth-oriented flexi-cap approach focused on scalable businesses and reasonable valuations. Alok Agarwal is identified as Fund Manager for the strategy.

Explore Alchemy High Growth →

Alchemy W.I.N. Strategy

Alchemy W.I.N. Strategy is an Active flexi-cap strategy that seeks to identify high-growth opportunities through a benchmark-agnostic approach.

Explore Alchemy W.I.N. Strategy →

Alchemy Ascent

Alchemy Ascent is classified as a Quant PMS strategy. It uses a model-driven, data-backed investment approach with dynamic capital allocation. Deven Ved is identified as Co-Fund Manager, Quant.

Explore Alchemy Ascent →

Alchemy Alpha 100

Alchemy Alpha 100 is a quantitative large-cap strategy based on structured stock selection and portfolio construction. Deven Ved is associated with the strategy as Co-Fund Manager, Quant.

Explore Alchemy Alpha 100 →

Alchemy Alpha Smallcap

Alchemy Alpha Smallcap is a Quant strategy focused on systematic small-cap stock selection. Deven Ved is identified as Co-Fund Manager.

Explore Alchemy Alpha Smallcap →

Alchemy Smart Alpha 250

Alchemy Smart Alpha 250 is classified as an Active + Quant strategy, combining active investment research with quantitative inputs.

Explore Alchemy Smart Alpha 250 →

Alchemy Smart Alpha Micro & Smallcap

Alchemy Smart Alpha Micro & Smallcap combines quantitative and active approaches to identify opportunities among emerging small- and micro-cap businesses.

Explore Alchemy Smart Alpha Micro & Smallcap →

Alok Agarwal's Role in Quant and Active + Quant Investing

A key aspect of Alok Agarwal's role is his involvement across different investment styles rather than a single strategy.

In Active strategies, the investment process can place greater emphasis on fundamental research, business analysis, growth prospects and valuation. In Quant strategies, systematic models and data-driven signals play a more prominent role. Active + Quant strategies combine these approaches, using quantitative inputs alongside fundamental investment judgement.

This distinction is important when evaluating Alok's fund-management responsibilities. His association with a Quant strategy does not mean that every strategy he manages follows the same model or factor framework.

Alchemy's current PMS structure explicitly separates Active, Quant and Active + Quant as management styles.

Explore Funds Managed by Alok Agarwal

Explore the current strategies associated with Alok Agarwal to review their individual investment mandates, management styles and product-specific information.

View Funds Managed | Explore Funds Managed | Request Fund Details

Fund-manager responsibilities, scheme availability, fees, minimum investments and other product terms may change. The latest applicable product documents should be reviewed before making an investment decision.