Look for growth and scale

Hiren Ved is the co-founder and chief investment officer of Alchemy Capital Management, a boutique wealth management company managing about $1 billion of assets of high net worth individuals. Alchemy Capital Management was founded in 1999 with Hiren Ved joining as partner and chief investment officer.

Prior to joining Alchemy, Ved worked with Prime Securities as part of the fund management team responsible for investing the firm’s proprietary funds in public markets as well as private equity. Ved started his career with K . Choksey & Company as part of the research team and was later designated head of research. He has over two decades of experience in the equity market.

Ved has created a reputation in bottom-up research and stock picking with extensive coverage of companies across sectors through management/company meetings. A qualified cost accountant, Hiren also holds a diploma in banking & finance.

Investment strategy

Currently Hiren is also the fund manager of Alchemy High Growth –Select Stock fund. Investment objective here is at generating long-term returns by investing in equities across market capitalisations, with a mid-cap bias and concentrated portfolio of between 5 to 10 stocks with the BSE 500 as the benchmark. For this fund there is no sector-specific limits whereas individual stock exposure is limited to 25 per cent.

The other two funds that Hiren supervises as CIO are Alchemy High Growth

and Alchemy Leaders. Alchemy High Growth fund's strategy aims at generating long-term returns by investing in equities across market

capitalisations but with a strong mid-cap bias. “Through a combination of top-down and bottom-up fundamental research, it is our endeavour to identify and invest in

growth companies which will enable long term wealth creation.”

A typical portfolio consists of 20-25 stocks. Indicative asset allocation is less than 25 per cent in large-cap stocks, more than 10 per cent in small-cap stocks and balance in mid-cap stocks.

Alchemy Leaders fund focuses on companies with market capitalisation of more than  Rs 5,000 crore. “This universe gives us an opportunity to invest in larger mid-caps and large cap companies across the leading sectors,” says Ved.

 “The philosophy behind this strategy is to invest in growth companies which have achieved scale and have either reached or have potential to be amongst the leaders in their field/industry segments.”