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 Smart Alpha Micro & Small Cap |
| 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 | December 06, 2023 |
| Fund Manager | Alok Agarwal |
| Minimum Investment | ₹50 Lakhs (Statutory minimum for Indian PMS platforms) |
| Primary Benchmark | S&P BSE 500 TRI (Regulatory requirement) |
| Secondary Benchmark | Nifty Smallcap 250 TRI (Reflective of actual universe) |
| Investable Universe | Bottom 750 out of the top 1000 listed companies by market cap |
| Asset Allocation | Up to 100% in Small & Micro-caps (typically ~80%+ Small/Micro) |
Investment Philosophy
Alchemy Capital follows a structured, research-driven investment philosophy focused on long-term wealth creation through equities:
- Growth at Reasonable Price (GARP) Core philosophy combines growth investing with valuation discipline—identifying high-quality businesses available at reasonable valuations.
- Bottom-Up Stock Selection Primary focus is on company fundamentals, with stock picking driven by deep research rather than macro speculation.
- Blend of Top-Down & Bottom-Up Approach While stock selection is fundamental-led, macro trends and sector outlooks are also considered to enhance risk-reward balance.
- High-Conviction Portfolio Construction Portfolios are built with a limited number of carefully selected stocks, ensuring meaningful allocation to best ideas.
- Focus on Quality & Scalability Preference for companies with strong management, scalable business models, and sustainable competitive advantages.
- Long-Term Investment Horizon Emphasis on compounding wealth over time by staying invested through market cycles rather than chasing short-term trends.
- Disciplined Risk Management Continuous portfolio review, valuation checks, and timely exits when the investment thesis weakens.
- Consistency Across Market Cycles Objective is to deliver sustainable, risk-adjusted returns with a steady investment approach rather than opportunistic trading.
Track how the fund has performed against its benchmark over time through a comparative line graph analysis.
Alchemy Smart Alpha Micro & Small cap
Benchmark: BSE 500 TRI
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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 | ₹36.29 | -11.00 | -12.19 | -8.68 | -4.57 | -2.19 | NA | NA | NA | 0.61 |
| Benchmark | NA | -11.37 | -13.94 | -9.62 | -3.12 | 1.32 | NA | NA | NA | 5.06 |
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.
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The strategy focuses on generating aggressive, long-term capital appreciation by identifying and investing in fast-growing under-researched companies in the bottom tiers of the Indian stock market. It limits its active investable universe to the bottom 750 companies out of the top 1000 stocks listed by market capitalization. The fund targets businesses that have passed early startup failures and are poised to grow rapidly from micro to small or mid-sized enterprises.
The portfolio relies entirely on Alchemy's quantitative eQGP framework to remove human emotional bias from small-cap stock picking. The "Environment" metric shifts the portfolio to aggressive positioning during risk-on market macro environments and tightens into a defensive stance when systemic liquidity or interest rates indicators trend risk-off. "Quality" filters analyze capital efficiency, leverage, and operating cash flows. "Growth" scores expanding corporate earnings power, while "Price Action" dynamics optimize final entry and exit triggers.
The quantitative engine processes all the candidate stocks within the investable universe and scores each entity across the specific quality, growth, and price action metrics. The underlying relative weights applied to these components are heavily guided by the master macro environment score. After completing the data processing cycle, the final high-conviction portfolio is built from the top 25 stocks possessing the highest composite quantitative score.
The strategy heavily concentrates its asset weights into the top-scoring companies to maximize performance edge, though individual names shift automatically based on algorithmic rebalancing scores. According to recent portfolio data, major high-weight institutional allocations feature prominent names such as Multi Commodity Exchange of India (MCX), Jayaswals Neco Industries, Gujarat Mineral Development Company (GMDC), Force Motors, and DCB Bank.
This strategy belongs to the highest tier of the equity risk spectrum because micro and small-cap stocks are susceptible to immense liquidity challenges and sharp drawdowns during broader market corrections. It is engineered exclusively for high-net-worth individuals and family offices who have a minimum investment horizon of 3 to 5 years to let business growth cycles mature. Liquidating assets early within the first 12 months from the date of deployment triggers a standard exit load fee of 1.00%, which scales down to zero after completing one full year.
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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.