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 Select Satellite |
| Asset Manager | Alchemy Capital Management Private Limited |
| Structure Type | Portfolio Management Service (PMS) – Discretionary |
| Regulatory Authority | Securities and Exchange Board of India (SEBI) |
| Inception Date | November 30, 2023 |
| Fund Manager | Alok Agarwal |
| Minimum Investment | ₹50 Lakhs (Statutory minimum for Indian PMS platforms) |
| Primary Benchmark | S&P BSE 500 TRI |
| Strategy Classification | High-Concentration, Benchmark-Agnostic Flexi-Cap / Multi-Cap |
| Portfolio Concentration | Highly concentrated, typically holding up to 20 stocks |
| Investment Horizon | 3 to 5 Years |
Strategy Overview
The Alchemy Select Satellite strategy is an aggressive, high-conviction portfolio management approach engineered to complement an investor's core holdings. In investment terms, a "core and satellite" strategy uses a steady, diversified foundation as the core, while relying on the satellite portion to generate alpha through tactical, high-conviction bets.
This open-ended PMS strategy operates with full flexibility across market capitalizations—spanning Large-cap leaders, agile Mid-caps, and opportunistic Small-caps. It intentionally disregards individual index weights, freeing the fund manager to back businesses with high growth potential and compelling risk-reward profiles regardless of their sector or size. The strategy maintains a tight structure, filtering the broad market down to a lean portfolio of up to 20 high-conviction companies to avoid diluting returns.
Investment Philosophy
The management team runs the Alchemy Select Satellite portfolio through a growth-oriented, highly tactical framework built on four distinct pillars:
I. The Growth at a Reasonable Price (GARP) Mandate
The core philosophy balances growth and valuation by utilizing a GARP approach. Instead of chasing pure momentum or buying overvalued growth stocks, the framework requires that a company's earnings trajectory justify its premium. The team identifies businesses where fundamental operational scaling intersects with sustainable, reasonable valuations.
II. Benchmark-Agnostic Flexi-Cap Trajectory
The fund manager does not track index structures or replicate sector weights. Capital moves freely between market caps depending on where the team uncovers the best asymmetric risk-reward opportunities. Asset allocation allows for up to 100% exposure in public equities, with tactical cash or liquid debt positions used only as short-term shields during severe market volatility.
III. The I-Matrix Framework (Idea, Investment, Intervention)
Portfolio selection relies on Alchemy's institutional research matrix:
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Idea Generation: Sourcing investment concepts through universal data trackers, independent grassroots channels, top-down sustainable themes, and active corporate scuttlebutt.
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Investment Research: Performing deep fundamental data audits and checking supply chains to isolate high-quality companies.
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Intervention & Exit Monitoring: Continuously evaluating active holdings against strict risk-reward thresholds, with defined rules triggering exits when a company's underlying fundamentals or growth outlook changes.
IV. Aggressive Concentration Moat
The strategy is built on the belief that holding small fractions of a massive number of stocks dilutes alpha. By restricting the portfolio to a maximum of 20 stocks, every position carries meaningful weight. This concentration magnifies the gains from top-performing picks, though it places a premium on deep forensic filtering to manage the heightened risk.
Track how the fund has performed against its benchmark over time through a comparative line graph analysis.
Alchemy Select Satellite
Benchmark: BSE 500 TRI
Compare fund returns and benchmark performance across multiple investment periods using a visual bar graph.
Review and compare fund returns against benchmark performance across different investment periods in a detailed tabular format.
Alchemy Capital Management Pvt Ltd
| AUM(Cr.) | 1M | 3M | 6M | 1Y | 2Y | 3Y | 4Y | 5Y | Ince. | |
| Performance | ₹4.22 | -9.44 | -4.43 | 5.93 | 23.06 | 1.81 | NA | NA | NA | 8.25 |
| Benchmark | NA | -11.37 | -13.94 | -9.62 | -3.12 | 1.32 | NA | NA | NA | 6.74 |
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.
The name reflects its role as a tactical, high-performance addition to an investor's broader allocation strategy. While an investor relies on a "core" portfolio—typically comprised of broad mutual funds or large-cap equity—for stable, foundational growth, the "satellite" portfolio targets aggressive outperformance by taking concentrated, opportunistic bets that wouldn't fit within a conservative baseline.
This product is structured as a discretionary Portfolio Management Service (PMS). Unlike an AIF, which pools assets into a master vehicle with a unified NAV, a PMS executes trades directly within your personalized demat account. This ensures you maintain direct ownership of the underlying equities and benefit from customized tax optimization.
The strategy has a flexible multi-cap mandate that allows it to invest across the entire capitalization spectrum, including Large-caps, Mid-caps, and Small-caps. Up to 100% of the portfolio can be allocated to listed Indian equities, with the remainder kept in cash equivalents or liquid funds to manage transaction timing or navigate extreme market distress.
In alignment with standard SEBI regulations for Portfolio Management Services in India, the minimum ticket size to open an account is ₹50 Lakhs. Alchemy generally offers clients a choice between a Fixed Fee Plan (an annual percentage fee based on Daily Average Assets Under Management) and a Performance-Linked Plan (combining a lower fixed base fee with a share of profits above a specified hurdle rate).
The strategy is categorized as high-risk due to its concentrated structure of up to 20 stocks. Because the portfolio is benchmark-agnostic, it can diverge significantly from mainstream indices like the Nifty 50 or BSE 500, meaning it may experience greater volatility and sharper near-term drawdowns during market corrections. As a result, it is best suited for aggressive investors with a 3 to 5-year time horizon.
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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.