Alchemy Ascent – PMS

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

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Terms at a Glance

• CATEGORY - Equity Diversified
• TYPE - Open ended
• BENCHMARK - S&P BSE 500 TRI
• INDICATIVE TENURE OR INVESTMENT HORIZON - 3 – 5 years
• FUND STYLE - Multi-cap growth
• LAUNCH DATE - 03rd September, 2019
• MINIMUM INVESTMENT - INR 50 lakh
• OTHER TERMS
  Description of types of Securities

  Equity

  Basis of selection of types of Securities as part of the Product/Investment Approach

  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

  Allocation of Portfolio across types of Securities

  Upto 100% in equity (cash portion may be deployed in liquid funds/ debt Securities).

  Portfolio Construct: Generally 25-30 stocks across sectors.

  Basis for choice of benchmark

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

  Risk associated with Product/Investment Approach

  High Risk

  • General risk
    Please refer “Risk Factors” given in clause 6 of the Disclosure Document
  • Specific risk
    The Portfolio Manager doesn’t envisage any specific risks in addition to General Risk factors

  Other salient features, if any

  NA

Fund Manager – Alok Agarwal

Alok has over 21 years of experience in Finance and Markets, primarily in equity research and fund management. He was working with PGIM India AMC where he was managing their oldest and flagship fund Large Cap Fund and headed their Offshore Equity Desk. He has also worked with Deutsche Asset Management, KR Choksey Shares & Securities, E-Nxt Financials Ltd and Pinnacle Academy. He holds degree of M.Com and MS (Finance) & has also completed CA, CFA & CMT.

Co - Fund Manager, Quant – Deven Ved

Deven has over 17 years 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 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’s highly analytical in his approach and holds a Post Graduate Diploma in Actuarial Sciences and Bachelor of Science degree in Statistics from St. Xaviers College, Mumbai.

Performance

Data as of March 31, 2024 | *Inception Date: September 03, 2019 | **Benchmark: S&P BSE 500 TRI

** To meet regulatory requirements, we have changed the benchmark of the product from S&P 200 to S&P BSE 500 TRI, effective 1 Apr 2023

# Performance related information provided herein is not verified by SEBI | Returns are net of fees, expenses, and 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 link for viewing Performance relative to other portfolio managers: https://www.apmiindia.org/apmi/welcomeiaperformance.htm?action=PMSmenu