Alchemy Capital Management – Portfolio Management Services (PMS)

Over the past two decades, Alchemy has significantly enhanced its standing and is presently among the leading Portfolio Management Services (PMS) providers in India. As of June 30, 2025, we manage group assets valued at USD 1.6 billion, leveraging our advisory and investment expertise. Alchemy’s institutional foundation is built upon a commitment to integrity, robust processes, deep market insight, and a persistent drive to deliver an exceptionally high standard of client experience. Our extensive experience, well-established intelligence networks, and continuous flow of information from trade and business analysts empower our core investment management team to consistently adopt best-in-class practices. This approach is designed to meet and, where possible, surpass client expectations, a commitment for which we have received commendation.

AUM (₹ Cr)

7009.39

Clients

2199

Strategies

10

As On

31 December 2025

Investment Strategies & Performance

Portfolio Management Services (PMS)

Alchemy Capital Management Portfolio Management Services (PMS) - Performance Returns
Strategy Category 1Y 3Y 5Y Inception
High Growth Multi Cap & Flexi Cap 7.00% 18.09% 14.75% May 2002
Select Stock Multi Cap & Flexi Cap -2.44% 21.85% 20.44% Dec 2008
Ascent Multi Cap & Flexi Cap -20.07% 11.96% 15.61% Sep 2019
Alpha 100 Large Cap 8.76% Aug 2023
Smart Alpha 250 Mid & Large Cap -3.42% Aug 2023
Alpha Small Cap Small Cap -8.90% Dec 2023
Smart Alpha Micro and Small Cap Small Cap -15.93% Dec 2023

Past performance is not indicative of future results. Returns are subject to market risks.

Alternative Investment Funds (AIF)

Alchemy Capital Management Alternative Investment Funds (AIF) - Performance Returns
Strategy Category 1Y 3Y 5Y Inception

Leaders of Tomorrow

Small & Mid Cap -10.07% 19.40% 19.94% Jan 2018

Emerging Leaders of Tomorrow

Multi Cap & Flexi Cap -1.99% 22.24% Oct 2022

Emerging Leaders of Tomorrow - 2

Multi Cap & Flexi Cap -5.30% Oct 2022

AIF investments carry market risks. Please read scheme documents carefully.

Portfolio Managers & Fund Management Team

Mr Alok Agarwal

Fund Manager

With over two decades of industry experience, Alok brings extensive expertise in finance and capital markets, particularly in equity analysis and portfolio management. His prior roles include serving at PGIM India AMC, where he was responsible for managing their flagship fund and leading the Offshore Equity Desk. Alok's professional journey also encompasses engagements with Deutsche Asset Management, KR Choksey Shares & Securities, E-nxt Financials Ltd, and Pinnacle Academy. He holds an M.Com and MS (Finance) degrees, alongside professional qualifications including CA, CFA, and CMT.

Mr Deven Ved

Co Fund Manager

With more than 17 years of comprehensive experience, Deven possesses a strong background in financial programming and modeling, program management, shareholder reporting, and consulting. In his prior capacity at HDFC Ergo General Insurance, he led the successful implementation of an automated underwriting rule engine, which facilitated immediate policy issuance. Deven's professional journey encompasses engagements with prominent financial entities such as Bharti AXA, Tata AIA Life, and Deloitte Consulting. His analytical acumen is further complemented by a Post Graduate Diploma in Actuarial Science and a Bachelor of Science in Statistics from St. Xavier's College, Mumbai.

Ms Himani Shah

Co-Fund Manager

With over two decades of experience, Himani has held positions at prominent financial firms, including Morgan Stanley, Citigroup, Anand Rathi, and SBI Capital Securities. She is a highly experienced equity professional specializing in institutional equity research and sales. Her coverage has primarily focused on the Banking, Financial Services, and Insurance (BFSI) sector, where she has engaged extensively with both domestic and Foreign Institutional Investors (FIIs). Her expertise includes in-depth analysis of companies from a long-term equity investment standpoint. Himani is a Chartered Accountant from the Institute of Chartered Accountants of India (ICAI) and a CFA Charterholder from the CFA Institute, USA.

Mr. Hiren Ved

Co-Founder & CIO

Mr. Hiren Ved, a seasoned professional with over three decades of experience in the Indian equity landscape, functions as the Whole-Time Director and Chief Investment Officer at Alchemy Capital Management. In this capacity, he spearheads the firm's asset management operations. His investment approach is characterized by a robust, long-term philosophy underpinned by comprehensive fundamental analysis, a methodology honed over his extensive career. Mr. Ved is recognized for his profound understanding of various sectors, his meticulous bottom-up research capabilities, and his aptitude for identifying promising investment opportunities. As of June 30, 2023, he oversees and provides advisory services for assets exceeding USD 931 million, encompassing both domestic Portfolio Management Services (PMS) and international institutional mandates managed by Alchemy Capital. Academically, Mr. Ved holds a graduate degree in Accounting from Mumbai University and a postgraduate qualification in Management & Cost Accounting from The Institute of Cost Accountants of India.

Ms Mythili Balakrishnan

Co Fund Manager

Mythili brings over 19 years of extensive experience in the financial services sector, with a core focus on equity research and investment management. Her professional journey includes a tenure at New Mark Capital, where she served as a mid-cap analyst. Earlier in her career, she held comparable positions at Motilal Oswal AMC, Avendus PE, and JP Morgan. Academically, she possesses a Bachelor of Engineering in Electronics and Communications from Delhi College of Engineering and a diploma in management from IIM Ahmedabad. She is also a CFA charterholder.

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Regulatory Information

SEBI Registration: INP000000365

Registered Office: B-4 Amerchand Mansion,16 Madame Cama Road, Colaba,Mumbai,Maharashtra,India-400001

Disclaimer

This page is provided solely for general informational purposes in relation to the strategy and is based on publicly available information. While reasonable care has been taken to ensure accuracy, the information may not reflect the most recent updates.

Nothing on this page constitutes investment, financial, or legal advice, nor should it be considered a recommendation. Investment decisions should be made after consulting a qualified advisor and reviewing official scheme documents.

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Last Updated: December 2025 · Published by Affluense AI (affluense.ai)