PMS · Equity · Multi Cap
Alchemy High Growth
Fund size₹758 Cr
Alpha (3Y)2.17%
3Y return14.68%
Fund age24 yrs 3 mo
From the research desk
Growth without overpaying.
Alchemy High Growth is Alchemy Capital's Multi/Flexicap PMS strategy that follows a Growth at Reasonable Price approach. It invests in scalable businesses with strong financial metrics, competitive advantages and management teams that combine aggression with respect for governance and capital allocation. Alongside this core growth approach, the strategy also selectively invests in Deep Value and Special Situations to capture opportunities across market cycles.
The portfolio is built from a broad company universe, narrowed through bottom up analysis on management quality, governance standards, competitive positioning and valuation. This is supported by continuous company engagement, regular review of the investment thesis and disciplined exit criteria.
Growth without overpaying
Follows a Growth at Reasonable Price philosophy, investing in scalable businesses with strong fundamentals at valuations that do not compromise long term returns.
A repeatable framework, not market timing
Rather than relying on market timing or style rotations, the strategy follows a disciplined process to identify quality businesses at reasonable valuations, market cycle after market cycle.
Built to capture broadening market leadership
The selective approach across growth, deep value and special situations positions the strategy to capture opportunities as market leadership broadens beyond a narrow set of names.
Fund Managers
Alok Agarwal
Head - Quant And Fund Manager, Alchemy
Alok has over 21 years of experience in Finance and Markets, primarily in equity research and fund management. He worked with PGIM India AMC, where he managed their flagship fund and headed their Offshore Equity Desk. Alok has also worked with Deutsche Asset Management, KR Choksey Shares & Securities, E-nxt Financials Ltd and Pinnacle Academy. He holds a degree of M.Com and MS (Finance) & has also completed CA, CFA & CMT
Managing AUM₹1,814 Cr
Mr. Hiren Ved
Director And CIO, Alchemy
Hiren Ved, an equity market veteran, serves as the Whole-Time Director, and 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. Hiren manages and advises funds over USD 931 million (as on June 30, 2023) across domestic PMS and offshore institutional mandates for Alchemy Capital. 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.
Managing AUM₹8,237 Cr
Growth of₹Cr
Alchemy High Growth
Returns: How it has done
| Scheme / Benchmark | YTD | 1Y | 2Y | 3Y | 5Y | Since inception |
|---|---|---|---|---|---|---|
| Alchemy High Growth | 4.42% | 14.90% | 0.90% | 14.68% | 10.31% | 19.96% |
| Nifty 500 | −1.02% | 4.72% | −0.11% | 12.09% | 10.91% | 16.31% |
| Excess over benchmark | 5.44% | 10.18% | 1.01% | 2.59% | −0.60% | 3.65% |
Returns up to one year are absolute; two years and above are annualised (CAGR). YTD is calendar-year-to-date. As on 31 Aug 2026.
Risk : What you take on to earn the return
Volatility
22.88%
Benchmark approx 14.77%
A standard deviation reflecting historical swings.
Sensitivity
1.22
Beta vs benchmark 1.00 · 22% more reactive
How strongly the scheme moves with the index.
Risk-reward
0.49
Sharpe
Excess return gained per unit of volatility.
Capture ratio
114 / 100
Upside / Downside Capture
Share of market gains captured versus losses absorbed.
How far below its previous high it fell
Over the trailing 3Y window the scheme fell −36.23% from its 11 Jul 2024 peak to a 07 Apr 2025 trough, and recovered on 07 May 2026 after 395 days.
Max drawdowns
−36.23%
Recovery period
395 days
Scheme Drawdown Trajectory
| Drawdown analysis | Peak | Trough | Depth | Fell over | Recovered | Recovery took |
|---|---|---|---|---|---|---|
| Scheme | 11 Jul 2024 | 07 Apr 2025 | −36.23% | 270 days | 07 May 2026 | 395 days |
| Benchmark | 30 Aug 2024 | 28 Feb 2025 | −18.59% | 182 days | – | – |
Scheme
Peak11 Jul 2024
Trough07 Apr 2025
Depth−36.23%
Fell over270 days
Recovered07 May 2026
Recovery took395 days
Benchmark
Peak30 Aug 2024
Trough28 Feb 2025
Depth−18.59%
Fell over182 days
Recovered–
Recovery took–
The benchmark's peak, trough and recovery are read off its month-end curve; the scheme's row is measured on daily NAV. · Risk and drawdown use a trailing 3Y window · As on 31 Aug 2026
Portfolio Details : Where the money actually sits
Stocks
62
P/E ratio
36.83
P/B ratio
6.50
Dividend yield
0.32%
Avg market cap
₹1.12 L Cr
Median market cap
₹1.22 L Cr
Asset class
Equity
Market cap
Large cap41.00%
Mid cap14.00%
Small cap34.00%
Cash & others11.00%
As on 31 Aug 2026
Fees
A fixed plan is cheaper when returns are strong. A performance plan costs less in lean years and shares the upside only when the fund beats a hurdle. Both cost the same at a 16.67% gross return.
FixedPlan A · SimpleFixed Management Fee2.50% / yr
Performance FeeNone
Hurdle RateNot applicable
VariablePlan B · Shared upsideFixed Management Fee1.50% / yr
Performance Fee15% of profit
Hurdle RateAbove 10%
Exit load 1.00% within 1 year, nil after 2 years. Lock-in: Nil.
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