Alchemy Ascent – PMS

  • Investment Objective, Philosophy, & Strategy
  • Why Alchemy Ascent ?
  • Terms at a Glance
  • Fund Manager
  • Performance

Investment Objective

To generate long term risk adjusted returns.

Philosophy & Strategy

A High Risk High Return oriented strategy where capital allocation is as important as stock selection and which aims at generating long term return by investing in companies using data intensive research driven product/investment approach, to identify companies based on various parameters such as growth, valuation, quality earning and balance sheet health.

Why Alchemy Ascent?

  • All fundamentals objectively stated and backed by data.
  • Treating markets as evolutionary, not destined. So, no subjectivity and no predictions.
  • Defined selling rules.
  • Respecting reflexivity in markets.
  • Justice to the Portfolio above justice to the concept.

Investment Philosophy and Parameters:

Growth:

  • Growth which is significantly more than the cost of capital
  • Consistent & Continuous growth
  • Growth adjusted for different fundamental parameters
  • Negative marking if there is high divergence or deterioration in growth

Valuations:

  • Value calculated as Price to Earning and/or Price to Cash Flow
  • Valuations is adjusted to the quality of firm
  • Valuation is also adjusted to the growth of the firm

Quality & Risk Management:

  • Rejection is more important than selection
  • Strict negative marks for bad balance sheet items, but no positive marks for the same as it is mandated and expected of an investment candidate
  • This also helps us filter out companies which are not managed properly OR which eventually turn out to be CAGR KILLERS

Market Cycle:

  • Presence /Absence of a rewarding market cycle
  • Stock which is appreciated by markets also increases our probability of success
  • Past behaviour of drawdown and volatility of a stock / company

Watch the video to Know more about Alchemy Ascent:

Terms at a Glance

  • CATEGORY - Equity Diversified
  • TYPE - Open ended
  • BENCHMARK - BSE 500 TRI
  • INDICATIVE TENURE OR INVESTMENT HORIZON - 3 – 5 years
  • FUND STYLE - Flexi Cap 
  • LAUNCH DATE - 03rd September, 2019
  • MINIMUM INVESTMENT - INR 50 lakh
  • OTHER TERMS

    Equity

    Equity stocks are chosen for investment on the basis of 3 factors:

    • The company fundamentals, as reflected in reported numbers
    • Investment strategy research regarding various market cycles
    • Risk & Reward ratios

    Cash or cash equivalents are chosen when an appropriate equity opportunity is not available

     Upto 100% in equity.

    The Portfolio may also invest though not exceeding 10% of the Asset Under Management (AUM) in securities other than equity, which shall inter alia include Real Estate Investment Trusts (“REITs”), Infrastructure Investment Trusts (“InvITs”), commodity-linked ETFs (e.g., gold, silver, crude), debt, liquid funds, bonds and permissible securities under the applicable laws.

    For the avoidance of doubt, the aforesaid limit of 10% shall be maintained at the time of making investments (whether initial or additional).

    It is clarified that any subsequent variation in the percentage of such investments beyond the aforesaid limit, arising solely on account of (i) market movements, (ii) corporate actions, or (iii) client-driven transactions like partial redemptions by Clients, shall not be construed as a breach of this limit (“Passive Breach”).

    However, if such Passive Breach results in the exposure to the aforesaid securities exceeding 20% of the AUM at any time, the Portfolio Manager shall, on a best-efforts basis and subject to market conditions and liquidity, take necessary corrective actions to bring such exposure within the said limit of 20% of AUM within a period of thirty (30) days from the date of such breach.

    Portfolio Construct: A typical equity Portfolio generally consists of upto 35 stocks across sectors.

    As per APMI Circular APMI/2022-23/02 dated March 23, 2023

    High Risk

    • Generic and Specific risk 
      Generic and Specific risk factors related to making investments in equity products of such kind are elaborated in Clause 6 of this Disclosure Document
    • Investors are advised to go through these risk factors and seek clarifications in the event of any queries.

    NA

 

Fund Manager – Alok Agarwal

Alok Agarwal has over two decades of experience in Indian equities and public markets, with a strong focus on equity research and fund management. He joined Alchemy in 2022 and brings a process-driven approach anchored in the eQGP (Environment–Quality–Growth–Price) framework. Prior to this, he managed flagship domestic and offshore mandates at PGIM India AMC and has also worked with Deutsche Asset Management, KR Choksey Shares & Securities, and E-nxt Financials Ltd. An avid marathoner, Alok is a CA, CFA, and CMT charterholder, and holds master’s degrees in commerce and finance.   

Co-Fund Manager, Quant – Deven Ved

Deven has nearly two decades of diverse business experience in financial programming and modelling, program management, shareholder reporting, and consulting. In his previous role at HDFC Ergo General Insurance, he spearheaded the launch of an automated underwriting rule engine, enabling instantaneous policy issuance. Deven’s professional experience also includes working with financial institutions like Bharti AXA, Tata AIA Life and Deloitte Consulting. He is highly analytical in his approach and holds a Post Graduate Diploma in Actuarial Science and a Bachelor of Science degree in Statistics from St. Xavier’s College, Mumbai.

Performance

  1M 3M 6M 1Y 3Y 5Y Since Inception *
Portfolio Returns# 3.0% 16.7% 6.1% 1.2% 10.1% 8.8% 13.4%
BSE 500 TRI Returns 1.7% 12.1% -3.5% -2.0% 12.5% 12.2% 15.9%

Data as of June 30, 2026 | *Inception Date: September 03, 2019

#Performance related information provided herein is not verified by SEBI | Returns are net of fees, expenses & taxes (if applicable). Returns less than 365 days: Absolute, greater than 365 days: CAGR (Computed using TWRR method). Past performance is not indicative of future performance. The above performance figures are aggregate of all discretionary clients; the investor’s actual portfolio may differ. Please refer the below link for viewing Performance relative to other portfolio managers:  https://www.apmiindia.org/apmi/welcomeiaperformance.htm?action=PMSmenu