Fund Snapshot

Philosophy & Strategy

Alchemy’s Investment Philosophy is “Growth at a Reasonable Price.” The philosophy behind growth investing is based on the assumption that India is a high-growth economy with a strong entrepreneurial culture. Our endeavor is to identify and invest in growth companies through a combination of top-down and bottom-up fundamental research to enable long-term wealth creation.

Relevant Universe

We have identified a relevant universe of about 500 companies based on market capitalization, qualitative governance filters, long term attractiveness and ROE profile of the business, amongst other parameters.

Investible Universe

Based on an evaluation of past and future fundamental variables, such as revenue and EBIDTA growth, cash flow conversion efficiency, and core ROE of the business, among several other relevant variables that may be specific to a business, an investable universe of companies is created from this relevant universe. Governance standards and the business's capacity to compete are evaluated in addition to objective fundamental parameters and qualitative management capabilities. To determine an appropriate valuation range for investing in the security, a thorough valuation exercise is also conducted based on one or more valuation parameters, such as P/E, P/B, EV/EBIDTA, DCF, etc.

Portfolio Construction

The Portfolio Manager managing the strategy is then free to construct the Clients Portfolio from within the investable universe at his discretion.

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Performance Highlights

• Group AUM is over USD 1.2 Billion
• INR 1 crore invested in May 2002 in Alchemy High Growth could have grown to over INR 70.9 crores
• Outperformed its Benchmark (**BSE 500 TRI) 15 out of 23 calendar years#
• Generated a net annualized alpha of  +322 bps# (INR returns)

Sector Allocation

Top Holdings

Market Cap Allocation

CAPITAL MANAGEMENT

Alchemy Capital Management is one of the pioneers in providing bespoke Portfolio Management Services in India. The company is registered with the Securities and Exchange Board of India (SEBI) as a Portfolio Manager and is based out of Mumbai.

• One of the few Portfolio Managers in India to have been in existence since 2002
• Pioneers in bottom-up stock-picking skills with a long-term investing approach
• With an experienced team of investment professionals at the helm, there is a strong emphasis on Compliance and Risk Management
• Managing/advising AUM of USD 1.2 billion*, Alchemy have earned the trust of institutional investors, sovereign funds, ultra HNIs and family offices.

MATRIX: IDEA, INVESTMENT, INTERVENTION

Idea Generation

• Universal Tracker
• Network Inputs
• Independent Channel Check
• Active Tracker

Investment Process

• Idea Generation
• Research & Analysis
• Investable Pool
• Portfolio Construction
• Review and Monitoring
• Exit Strategy

Intervention

• Investment Team
• Risk Management
• Investment Committee

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INTERVENTION: RISK MANAGEMENT

Firm Level

• Performance pattern analysis.
• Dedicated pre- and post-trade checks and ongoing internal reviews. 
• Statutory and legal risk is managed by the compliance and legal function, which is monitored by the Group Compliance Head.
• Business Risk managed by the CEO.

Portfolio Level

• Daily monitoring by the in-house operations team is based on the fund/strategy mandate.
• Fund Manager evaluates the performance of each strategy vis-à-vis the benchmark on a monthly basis.
• The CIO reviews the performance of each strategy with the respective fund manager every month.
• Contribution is conducted each month by the investment team. Portfolio action on absolute and relative performance analysis and portfolio positioning are discussed every month and actions, where needed, are decided upon.

Security Level

• Sectoral limit based on mandate.
• Individual stock limit based on mandate.
• We also monitor the ownership in companies at Fund/Strategy level.
• Investment positions – flags raised by the operations team if a position is close to the maximum permissible limit weightage.

AltPort: The Science of Smarter Investing

At AltPort, we start building every portfolio with a solid base, a smart plan, and careful checks. We choose funds that have done well in the past, check out how they're run, and make sure everything fits with what our investors want to achieve. We're not just copying what everyone else is doing; we're aiming to be the best. Using our step-by-step way of doing things and our knowledge of the market, AltPort helps turn careful investing into steady growth. Your money should have a plan, not just a guess.