About Company
Alchemy Capital Management Pvt Ltd
Alchemy Group, a leading investment management firm in India, has been operating successfully since 2002. Founded by four seasoned equity market professionals, each with more than 30 years of experience, the group boasts a strong foundation. Under the leadership of its Chief Investment Officer, Hiren Ved, the team, which has collaborated for over two decades, has fostered a culture of excellence and established an institutional pedigree focused on consistently delivering superior performance to its clients. The Alchemy Group currently manages assets worth USD 1.2 billion. Alchemy is led by Co-Founder Hiren Ved, who also serves as the Director & CIO. With a strong continuity in investment philosophy and strategy, Hiren and the Alchemy team have cultivated a culture of performance excellence. This has been instrumental in maintaining a consistent track record in their investment strategy. Alchemy boasts a comprehensive network of relationships developed over decades. This network provides the team with valuable insights into stocks, sectors, businesses, and potential investment opportunities, ensuring they remain ahead of market trends.
Fund Snapshot
| Fund Attribute | Details |
| Strategy Name | Alchemy High Growth (AHG) |
| Asset Manager | Alchemy Capital Management Private Limited |
| Structure Type | Portfolio Management Service (PMS) – Discretionary |
| Inception Date | May 08, 2002 |
| Fund Manager | Alok Agarwal (With CIO oversight from Co-Founder Hiren Ved) |
| Minimum Investment | ₹50 Lakhs (Statutory SEBI minimum for Indian PMS platforms) |
| Primary Benchmark | S&P BSE 500 TRI |
| Investment Style | Multi-cap / Flexi-cap with a structural Mid-cap bias |
| Portfolio Concentration | High-conviction, restricted to a maximum of 25 stock ideas |
| Exit Load | 1.00% if redeemed within the 1st year; 0.00% thereafter |
Strategy Overview
Launched in 2002, Alchemy High Growth is one of the longest-running and most established Portfolio Management Services in India. It is designed as an aggressive, unconstrained equity vehicle that aims to maximize long-term capital compounding by investing across the entire market capitalization spectrum. Rather than diluting alpha through over-diversification, the portfolio deliberately maintains a concentrated structure of up to 25 high-conviction companies. The asset allocation remains flexible, meaning the fund manager can dynamically skew weights toward large-cap leaders for stability during economic uncertainty, or aggressively tilt toward mid and small-caps to capture massive scale-up opportunities during bull markets.
Investment Philosophy
The investment committee governs the High Growth portfolio using an active, research-driven framework built on four distinct pillars:
Growth at a Reasonable Price (GARP)
The bedrock of the philosophy is the hypothesis that India is a structural, high-growth economy driven by robust entrepreneurship. The team targets secular growth businesses but firmly rejects chasing them at irrational valuations. Every stock must display a clear runway for earnings expansion that mathematically justifies its market price.
Bottom-Up Forensic Filtering
The research desk screens a vast universe of listed companies using stringent financial gates. The criteria prioritize businesses addressing expanding market opportunities, holding a distinct competitive advantage, maintaining low debt-to-equity ratios, and demonstrating a higher-than-average Return on Capital Employed (ROCE).
Backing Exceptional, Aggressive Managements
Alchemy strongly believes that corporate leadership determines long-term equity success. The fund manager looks for visionary management teams that display operational aggression and a hunger for market share, balanced with strict capital allocation discipline and transparent corporate governance.
Tactical Flexibility & Structural Commodities
While stable growth companies form the core of the portfolio, the strategy actively embraces tactical allocations. For instance, the team implements high-conviction, non-consensus positions in structural asset classes—such as physical base metals (copper, aluminum) and precious metals (gold, silver ETFs)—to capitalize on global supply deficits and protect the portfolio against global macro imbalances.
Learn about the experienced fund managers responsible for investment decisions, portfolio strategy, and long-term fund performance.
Hiren Ved
Hiren Ved, an equity market veteran, serves as the Director & CIO at Alchemy Capital Management where he has been leading the firm’s Asset Management business. With over 30 years of experience in the Indian equities market, Hiren has developed a sustainable long-term investment philosophy based on fundamental research. He is known for his deep sector knowledge, bottom-up research skills and stock picking abilities. He holds a graduate degree in Accounting from Mumbai University and a post-graduation in Management & Cost Accounting from The Institute of Cost Accountants of India.
Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.
As one of the oldest running PMS offerings in India, the strategy has navigated multiple bull and bear market cycles over more than two decades. For example, in the financial year ending March 2026, the strategy delivered an alpha-generating performance of 21.8% compared to the BSE 500 TRI return of -3.1%. Long-term data shows that ₹1 Crore invested at the fund's inception in May 2002 would have compounded to over ₹85 Crores by early 2026.
The fund operates on the principle that over-diversification dilutes alpha. Instead of spreading capital thin across hundreds of stocks, it concentrates its positions into a maximum of 25 high-conviction ideas. This allows individual winners to move the performance needle meaningfully, though it places a heavy premium on initial forensic research to avoid single-stock landmines.
The portfolio rebalances dynamically as valuations and corporate earnings shift, but it maintains highly concentrated allocations in top ideas. Recent portfolio data highlights prominent high-weight allocations in market infrastructure and resource enterprises, including Multi Commodity Exchange of India (MCX), Vedanta, Hindustan Zinc, Hindustan Copper, and BSE Limited, alongside strategic allocations in gold and silver ETFs.
To encourage disciplined, long-term wealth compounding and allow the fund manager to back businesses through complete operational cycles, the fund discourages short-term trading. If an investor liquidates or transfers their capital within the first 12 months from the date of deployment, a 1.00% exit load is deducted from the asset value. After completing one full year, the exit load drops to zero.
This strategy belongs to the high-risk, high-return equity spectrum due to its concentrated nature and mid-cap bias. It is engineered exclusively for sophisticated High-Net-Worth Individuals, family offices, and corporate treasuries who want to participate in India's structural economic growth and possess a patient investment horizon of 3 to 5 years.
Connect with our investment experts for personalized guidance, fund details, and support tailored to your financial needs.
Get In Touch
Disclaimer: Investing in AIF, PMS, Gift City or Mutual Fund is subject to market risk. Please read the related documents carefully. Past performance does not guarantee future results and there is no assurance that the managed accounts will necessarily achieve their objectives. Actual portfolios may differ as a result of account size, client-imposed investment restrictions, the timing of client investments and market, economic, and individual company factors. We at ALTPORT do not guarantee any returns in the hands of investors, nor do we take any sort of accountability for the performance of the scheme.