- Category
- III
- Strategy
- Long-only
- Fund house
- Alchemy Capital Management
Leaders of Tomorrow
+18.12%
1-year return, after expenses, before tax
Benchmark NIFTY 500 & Debt Composite Index · data as of 30 Sep 2026
Leaders of Tomorrow, a Category III long-only AIF from Alchemy Capital Management, returned 18.12% (after expenses, before tax) in the year to 30 Sep 2026. It began on 3 Jan 2018 and manages ₹972 crore.
Key numbers
- AUM
- ₹972 Cr
- Benchmark
- NIFTY 500 & Debt Composite Index
- Launched
- 3 Jan 2018
- Min. investment
- ₹1 crore
- Returns basis
- After expenses, before tax
Returns
| Period | This fund | NIFTY 500 & Debt Composite Index |
|---|---|---|
| 1 month | −4.24% | −5.60% |
| 3 months | +3.88% | −3.88% |
| 6 months | +37.02% | +7.40% |
| 1 year | +18.12% | −3.22% |
| 2 years | +3.18% | −4.91% |
| 3 years | +17.26% | +8.03% |
| 5 years | +14.93% | +7.62% |
| Since inception | +15.55% | +10.07% |
After expenses, before tax, as Alchemy Capital Management reports them, to 30 Sep 2026. AIFs report returns on different bases, so compare like with like.
Fund details
- Category
- Category III
- Strategy
- Long-only
- Market-cap style
- Small and mid cap
- Asset type
- —
- Benchmark
- NIFTY 500 & Debt Composite Index
- Fund manager
- Hiren Ved, Himani Shah
Investment approach
The Fund strategy** seeks to generate long term capital appreciation by 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 investment allocation will be Multi-Cap & Sector Agnostic, which allows flexibility in stock selection• Concentrated portfolio; generally, may consist of +/- 25 stock ideas• Endeavour will be to focus on companies showing best traits of adaptability to the new economic normal, driven by innovation & ingenuity• Alchemy Investment Philosophy is “Growth at Reasonable Price”.The Approach is rooted in the Premise that India is a high growth economy and the best way to play this is to identify and invest in companies which are best equipped to take advantage of emerging domestic and global opportunities
The Fund strategy** seeks to generate long term capital appreciation by 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 investment allocation will be Multi-Cap & Sector Agnostic, which allows flexibility in stock selection• Concentrated portfolio; generally, may consist of +/- 25 stock ideas• Endeavour will be to focus on companies showing best traits of adaptability to the new economic normal, driven by innovation & ingenuity• Alchemy Investment Philosophy is “Growth at Reasonable Price”.The Approach is rooted in the Premise that India is a high growth economy and the best way to play this is to identify and invest in companies which are best equipped to take advantage of emerging domestic and global opportunities
About the fund manager
Mr. Hiren Ved — Co-Founder & CIO
Hiren Ved, an equity market veteran, serves as the Whole-Time Director, and CIO at Alchemy Capital Management where he has been leading the firm’s Asset Management business. With over 30 years of experience in the Indian equities market, Hiren has developed a sustainable long-term investment philosophy based on fundamental research. He is known for his deep sector knowledge, bottom-up research skills and stock picking abilities. Hiren manages and advises funds over USD 931 million (as on June 30, 2023) across domestic PMS and offshore institutional mandates for Alchemy Capital. 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.
Ms Himani Shah — Co-Fund Manager
Spanning over 20 years, Himani’s professional experience includes working with financial institutions like Morgan Stanley, Citigroup, Anand Rathi and SBI Capital Securities. She is a seasoned Equity professional with experience in institutional equity research & sales. She has covered the BFSI sector extensively and worked closely with both domestic as well as FIIs institutional Investors. Her professional expertise consists of studying many companies from a long-term equity investment perspective. Himani is a Chartered Accountant from ICAI and CFA Charter holder from the CFA Institute, USA.
As the fund house describes it.
FAQs
What has Leaders of Tomorrow returned?
18.12% (1-year return) to 30 Sep 2026, after expenses, before tax, as Alchemy Capital Management reports it. 1 month: −4.24%; 3 months: 3.88%; 6 months: 37.02%; 1 year: 18.12%; 2 years: 3.18%; 3 years: 17.26%; 5 years: 14.93%; Since inception: 15.55%.
What kind of AIF is Leaders of Tomorrow?
A Category III AIF following a long-only strategy, with a small and mid cap style. Category III AIFs trade listed and unlisted securities and may use leverage and derivatives, including short positions.
How much does Leaders of Tomorrow manage?
₹972 crore as of 30 Sep 2026.
What is the minimum investment in an AIF?
SEBI sets the minimum at ₹1 crore per investor (₹25 lakh for the fund’s own employees and directors). Leaders of Tomorrow’s stated minimum is ₹1 crore.
Who manages Leaders of Tomorrow?
Alchemy Capital Management runs it; the fund managers are Hiren Ved, Himani Shah.
How are AIF returns reported?
Each fund house reports its own returns on its own basis: Leaders of Tomorrow’s are after expenses, before tax. Bases differ from fund to fund, so compare like with like.
For information only. Not investment advice or a research report. Past performance does not guarantee future returns. AIF investments carry higher minimums and risks; read the private placement memorandum.
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