Investment Objective
The investment objective for Alchemy Leaders of Tomorrow (“the Fund”) is to generate long term absolute returns on the investor’s capital, and does not aim to be benchmarked to any index. The investment strategy of the Fund is to generate long term capital appreciation by investing in such opportunities including investing in (i) Listed Indian equities, (ii) Private Investment in Public Equity (“PIPES”) on listed Indian equities, and (iii) IPO and pre-IPO opportunities. The Fund will be market cap agnostic and investing across the spectrum of large-cap, mid-cap and small-cap stocks.
Fund Manager – Hiren Ved
Hiren Ved, an equity market veteran, co-founded Alchemy Capital Management in 1999. Currently, he is the Director & CIO at Alchemy Capital Management, where he leads the firm’s Asset Management business. With his experience and expertise, Hiren has developed a sustainable long-term investment philosophy based on fundamental research that has helped deliver long-term returns for clients.
Hiren’s journey in the equity markets began in 1991 when he started working with KR Choksey & Co., a sell-side firm known for its value investment approach. Starting as an analyst, he gradually rose to become the Head of Research, building a strong foundation in bottom-up research. Witnessing various cycles of Indian markets, Hiren firmly believes in long-term investment strategy.
In 1994, Hiren joined Prime Securities, an Investment Bank, where he served as an investment analyst and subsequently became the Head of Equities, overseeing both listed and private equity investments within the investments of the internal treasury in both the listed and private equity space.
With over three decades of experience in the Indian equities market and public market investments, Hiren has a long track record of alpha generation over 20 years. He possesses deep and diverse knowledge across sectors and is known for his bottom-up research and stock-picking skills.
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.
Co-Fund Manager – Himani Shah
With over 22 years of experience in the financial markets, Himani Shah has built a distinguished career across equity research, fund management, and institutional sales.
Himani’s professional journey includes leadership roles at Morgan Stanley, Citigroup, Anand Rathi, and SBI Capital Securities, where she specialised in institutional equity research and sales, extensively covering the BFSI sector and working closely with both domestic and foreign institutional investors. Her expertise lies in analysing companies from a long-term investment perspective and advising institutional clients on equity strategies.
A Chartered Accountant (ICAI) and CFA charterholder (USA), Himani combines strong analytical skills with a deep understanding of market dynamics. Beyond her core responsibilities, she is passionate about training in finance, soft skills, and image management, helping professionals enhance both technical and interpersonal capabilities.
Performance
Data as of February 28, 2026 | *Inception Date: January 3, 2018
#Consolidated Returns are calculated using unitization method. The Consolidated Returns may vary with investors’ returns depending on the class/series investor have subscribed into. Past performance is not indicative of the future performance. Performance related information provided herein is not verified by SEBI. Returns less than 1 Year: Absolute, greater than 1 Year: CAGR. Performance Data for CRISIL AIF Index – Category III is available till September 2024. Please click here refer to the Category III AIF benchmarking report issued by CRISIL.
