Alchemy Capital Management

ALCHEMY INDIA ALCHEMY CAPITAL MANAGEMENT Investment Opportunities in Portfolio Management Services

OPENING NEW WINDOWS OF OPPORTUNITY.

EXECUTIVE SUMMARY

Portfolio Management Services

EXECUTIVE SUMMARY What is Portfolio Management Services PMS is the managed accounts business in India
Structure - Pass Through Vehicle Underlying securities are owned by clients with a POA to the PMS provider Regulated by SEBI in India PMS is a premium and exclusive financial service Manages and advices the assets of High Networth Individuals NRIs Corporates Foreign Institutions

EXECUTIVE SUMMARY Why Portfolio Management Services

As a discerning investor, who understands risk-reward , you want A portfolio comprising of Select ideas - backed by a high level of Investment Expertise and research Innovative and Sophisticated Strategies Providing a platform to take exposure to and diversify into new investment opportunities. Ability to take focused bets both in stocks and sectors Build a portfolio of high conviction ideas and take meaningful exposure to such companies, thereby adding value when these stocks play out their potential Personalization and Customization The Portfolio manager builds and manages each portfolio keeping in mind the strategy selected and the timing of investment Transparency and a higher level of information - Frequent information flow to clients on market views and portfolio actions Portfolio Management Services is a platform which can deliver to these expectations.

EXECUTIVE SUMMARY

Alchemy Capital Managements Portfolio Management Services

Alchemy Attributes
VISION To be an asset management organization of choice ETHOS Where the mind is without fear, And the head is held high VALUES To strive for client delight; Be a learning organization; emphasize that knowledge is power; Remain steadfast on long term goals; yet, be dynamic and innovative in approach; Pursue excellence in execution; adopt best in class practices; Lead by example and foster teamwork; Espouse integrity and transparency in all relationships and transactions MISSION To meet clients long term goals through consistent performance and high quality service; nurture an ecosystem of excellence and long term relationship with all stakeholders.

THE ALCHEMY ADVANTAGE The Alchemy Advantage

Founders and Investment team

Investment Expertise

Track record

Quality of clients

Vintage and Size

The Alchemy Advantage

Founders and Investment Team
Alchemy Capital Management was founded in 1999 by Lashit Sanghvi, Ashwin Kedia, Rakesh Jhunjhunwala and Hiren Ved, each have over 17 years of experience in the Indian equity markets. In addition to High and Ultra High Net Worth Indian Families and Institutions, Alchemy Capital Management is also the investment advisor to a Sovereign Wealth Fund.

Bring over 100 years of Indian equity market experience. Have excellent market standing built on integrity. Have extensive networks of intelligence and information at disposal. Co-founder, Hiren Ved, as Chief Investment Officer brings investment philosophy consistency. Have a stable and experienced team of investment professionals who have stayed and imbibed the
firms investment philosophy.

Strong Emphasis on Compliance and Risk Management

With an ethical Code of Conduct in place. With transparency in business, client service and reporting.
Disciplined Investment Process

Alchemys Management Team has over 100 years of cumulative experience bringing a confluence of skill and discipline for sustainable long term wealth creation. The firm manages / advises about USD 330 million across

Pioneers in Bottom Up stock picking Ability to pick trends early Focus on Primary Research Long term approach to investing in listed companies with continuous review Consistent performance track record since inception in 2002.

various funds / mandates and has a track record of over 8 years. The firm employs 75 professionals which includes a stable, experienced and well qualified investment team of 8 professionals. The team focuses on bottom up stock picking based on primary research and discipline for continuous review.

Executive Summary
Lashit Sanghvi Promoter & Non-Executive Director Featured in CNBCs Wizards of Dalal Street, a showcase of Indias most successful investors Over 18 years of experience having co-founded Alchemy Equity Research & Securities along with Ashwin Kedia in 1992. Co-found Alchemy Share & Stock Broking Pvt Ltd along with Rakesh Jhunjhunwala and Ashwin Kedia in 1997. Primary focus areas - Marketing the brokerage/research services of the firm to institutional clients like FIIs and local mutual funds - Execution of large institutional deals, - Active in evaluating Private Equity investment opportunities - Development of systems for dealing function, development of systems for back office. Rakesh Jhunjhunwala Co-Promoter Was featured in Wizards of Dalal Street a series on the most successful investors in Indian Stock Market by CNBC India. Mr. Jhunjhunwala has been the mentor and guide for Alchemy. He is an Indian Chartered Accountant by profession He is one of the most respected equity investors in India. .

Executive Summary
Hiren Ved Co-Promoter & Whole-Time Director B.Com , Grad. C.W.A, DBF Hiren has over 17 years of experience in the Indian equity market. He joined Alchemy Capital Management in 1999 and helped set up the asset management business of the group. Started his career with K R Choksey & Co, a large securities firm as part of the research team. Was designated as Head of Research in 1993. Then joined Prime securities Ltd in June 1994, a leading investment bank as part of the fund management team responsible for investing the proprietary funds of the firm, Since 1999 has been the CIO for Alchemy Capital managing assets of over USD 100 m Ashwin Kedia Co Promoter Was featured in Wizards of Dalal Street Gen Next a series on the most successful investors in Indian Stock Market by CNBC India. Co-founder partner of Alchemy, possesses over 16 years of equity market experience. Key strengths-stock picking and developing a network of corporate relationships. Mohit Batra Group CEO, MBA, CFA and PhD in Financial Services Over 17 years of Financial Services Background with assignments like- Head of financial Projects for Tata Interactive Systems, Country Manager for Euromoney, Cofounder and Promoter of www.moneycontrol.com, CEO of e-18 (CNBC India), COO of United HealthCare Group (fortune 40 NASDAQ listed company, biggest health insurance firm in the world), Country Head- Wealth- ABN AMRO Bank, Director Wealth- Motilal Oswal Securities.

EXECUTIVE SUMMARY BOARD MEMBERS Executive Summary

Mr. Nanoo Pamnani

Began his career with Citibank India as a Management Associate in 1967 Between 1967 and 1981, he handled various assignments in Operations (including Senior Country Operations Officer for India/ Sri Lanka), Country Credit, country Financial Control and Corporate Banking Assignments Took over as CEO for India , Sri Lanka, Nepal and Bangladesh in 1982. Assigned as CEO of Philippines in 1985. Took over as Chairman of Citicorp Finance India in 1997; Took over as the Global Consumer Banking Head in 1998; Designated CEO for Citibank India in 1999 Appointed Chairman, Citibank NA India in a non Executive capacity in 2002 Directorship: Bajaj Auto Ltd, Pune India, AIG Global Asset Management Company (India) Pvt Ltd, Citibank Savings Inc, Phillippines, Bajaj Auto Finance Ltd. Pune India, P.N. Writer & Co Pvt. Ltd. Mumbai India, Bajaj Holdings & Investments Ltd. Pune India, Bajaj Finserve Ltd. Pune India, Pegasus Assets Reconstruction Pvt. Ltd. Mumbai , India Advisory: Temasek Holdings, Singapore, Pegasus Asset Reconstruction Company, India Mr. Manish Gupta MBA (IIM Ahmedabad), Chemical Engineer, BITS Pilani Board Memberships: BILCARE Ltd, Inventurus Knowledge Solutions Pvt. Ltd, A2Z Engineering Services Pvt. Ltd, Geojit Com Trade Pvt. Ltd, Pegasus Asset Reconstruction Pvt. Ltd, Trustee Agastya International, an NGO taking science education to children in rural India

Executive Summary
Mr. Neeraj Roy Managing Director & CEO, Hungama Mobile Voted amongst the 50 Most influential People in Mobile Entertainment globally 3 years in a row Selected amongst the Top 10 MobiThinkers of 2009 globally Chairman of Mobile Entertainment Forum, an organization of members from all the entire value chain of the Mobile Entertainment business Founder of TiE in India; Been on the Board of TiE Mumbai chapter Mr. Manu Parpia Founder and Vice Chairman, Geometric Ltd and served as the Managing Director from 1994 to 2006 Chairman of 3DPLM Software Solutions Ltd Served as the Chief Executive of the Electronic Business Equipment Division of Godrej & Boyce from the mid eighties to 1999 Founded Godrej Pacific, a joint venture between Tech Pacific and Godrej & Boyce, and served as its Managing Director from 1995 to 1999

Executive Summary Investment Committee Profile

Portfolio Managers: Sachin Shah, Portfolio Manager Sachin joined Alchemy Capital Management in 2004 and serves as Director and portfolio manager for Alchemy Investment Management. Sachin has over 11 years of experience in portfolio management and research. He started his career as a research analyst at UTI Mutual Fund before moving to SG Asia Securities and HDFC Bank, where he was made Manager of Equities and Private Banking. Chandraprakash Padiyar, Portfolio Manger Chandraprakash has over 10 years of experience in Cement, Metals, Paper and Fertilizer sector research. He started his career in equity research and analysis at UTI Mutual Fund and later graduated to be a portfolio manager managing assets across various equity schemes totaling Rs. 2500 crore, before joining Alchemy Capital Management as portfolio manager in 2007. He holds an MBA from the University of Maharashtra in 2000 and received his CFA charter in 2005. Nimis Sheth, Portfolio Manager Nimis has over 19 years of experience in the Indian listed equities market. His most recent assignment (2006-2009) was as an analyst and regional portfolio manager with Artha Capital Management, a USA based $1bn EM long-short fund, at their India office. He has worked as an equity research analyst with Corporate Database & Anvil Stock broking from 1990-2000 and Phoenix Stockbrokers 2000-2006. Nimis has an M.B.A. & M.E. from Boston University USA (1987) & B.E. from BITS Pilani (1985).

INVESTMENT TEAM Executive Summary Research & Analyst Team

Amit Nadekar, Senior Analyst Amit has over 9 years of experience having worked with Raymond's Ltd. in Corporate Finance and also with First Global Securities tracking US banks, before joining Alchemy Capital Management. He is a Chartered Accountant and holds an MBA in Finance from Jamnalal Bajaj Institute of Management Studies and a B.Com degree from the Mumbai University. Nirav Parikh, Analyst Nirav is an MBA Finance from NMIMS and a CFA. He has over 5 years experience in the securities industry and has worked with Anand Rathi, Alchemy Broking and Reliance Equities. During this period he has done research on the Real Estate and Cement Sectors. Aishwarya Deepak, Senior Analyst Aishwarya an Oil & Gas industry specialist and has worked in Industry (at BPCL) for over 5 years before joining the financial services industry - where he worked for 4 years in organizations like Irevna (a research subsidiary of CRISIL) and B&K Securities as a senior Oil & Gas analyst. He is Chartered Accountant by qualification and is pursuing his CFA.

Investment Process
Idea Generation and Analysis :
Strong reliance on in-house reserach We use filters based on investment themes to build a working universe, Meet trade and industry, attend industry specific seminars to identify new ideas Encourage analysts to generate ideas, active guidance from the Portfolio Managers. Leverage promoters and Fund management team s network to identify business ideas early Undertake detailed financial analysis with in-built financial models , forecasts and valuation

Company/Management Meets : Focus on Primary research active engagement with large number of companies
to identify those with Huge addressable opportunity Sustainable competitive advantages High quality management Scalability and clear visibility of growth We meet over 200 companies every year. We also meet their suppliers, customers and competitors to build conviction in investment drivers

Portfolio Construction & Ongoing Review : Build a select portfolio of high conviction ideas
Structural long term ideas, ideally buy and hold -with low churn Meaningful bets in best ideas concentrated portfolios 10-20 stocks depending on risk appetite Portfolio structuring based on timing of clients investment- speed of deployment, which stocks Attempt to deliver superior return per unit of risk, try to contain volatility , while delivering alpha Exit Strategy We set target prices for each stock in the portfolio and continuously review. Exit stocks when the risk-return is not in the investors favor or when there are better opportunities available.

Praj Industries

ALCHEMY PRODUCTS

Adjusted Closing Price (Rs.) 300

Exit Price = Rs. 196.2 Mkt. Cap = Rs. 3585 Cr

39X in 3.4 years

250

200

150

100

THANK YOU
Entry Price = Rs. 5.06 Mkt. Cap = Rs. 81 Cr
11/06/2005 11/06/2006 11/06/2007 11/06/2008 11/06/2009

50

0 11/06/2004

Investment drivers Pioneer in alternative energy (Ethanol) in India Innovative products for the segment at competitive prices allowed the company to take high market share both in India and overseas, which allowed the company to grow in excess of 40% CAGR.

Titan Industries

ALCHEMY PRODUCTS
Exit Price = Rs. 1726.5 Mkt. Cap = Rs. 7291 Cr

Adjusted Closing Price (Rs.) 2000 1800 1600 1400 1200 1000 800 600 400 200 0
0 9/08/2002 09/08/2003 09/08/2004 09/08/20 05 09/08/ 2006 09/ 08/2007

26X in 5.2 years

Entry Price = Rs. 66.8 Mkt. Cap = Rs. 285 Cr

THANK YOU
09/ 08/2008 0 9/08/2009

Investment drivers A play on Specialty organized retailing Leadership position in watches and jewellery segments Created a very profitable and high ROCE business model in two verticals with pioneer status Ability to choose large fragmented markets and create brands and distribution to create leadership positions.

Siemens

Ltd.

ALCHEMY PRODUCTS
Exit Price = Rs. 971.88 Mkt. Cap = Rs. 32772 Cr

Adjusted Closing Price (Rs.) 1200

27X in 4.6 years

1000 800

600

THANK YOU
Entry Price = Rs. 36.48 Mkt. Cap = Rs. 1209 Cr

400

200

0 16/05/2003 16/05/2004 16/05/2005 16/05/2006 16/05/2007 16/05/2008 16/05/2009

Investment drivers Play on increased spend on T&D by the government Company with its innovative products from the parents' R&D could benefit on account of high orders being received

Jyoti Structures

ALCHEMY PRODUCTS
Adjusted Closing Price (Rs.)

350 300

9.7X in 2.7 years

Exit Price = Rs. 214.45 Mkt. Cap = Rs. 1731 Cr

250

200

150

100

Entry Price = Rs. 22.01 Mkt. Cap = Rs. 130 Cr

THANK YOU
05/11/2006 05/11/2007 05/11/2008 05/11/2009

50 0 05/11/2004 05/11/2005

Investment drivers Play on increased spend on T&D by the government Company could exploit the opportunities in the transmission towers segment and was able to grow in excess of 30% CAGR

Dynamatic Technologies
Adjusted Closing Price (Rs.) 2000 1800 1600 1400 1200 1000 800 600 400 200 0 25/11/2004 25/11/2005 25/11/2006 25/11/2007 25/11/2008 25/11/2009

5.5X in 4.7 years

Entry Price = Rs. 210.1 Mkt. Cap = Rs. 88 Cr

Exit Price = Rs. 1161.45 Mkt. Cap = Rs. 628 Cr

THANK YOU

Investment drivers A play on the growing opportunity in the Indian Defense and Aerospace sector It is one of the largest company in the hydraulics for the tractor industry globally Company is also the sole supplier of wing flap track beams for Airbus 320 series

Provogue (India) Ltd

ALCHEMY PRODUCTS

Adjusted Closing Price (Rs.) 300

4.4X in 1.8 years

250 200

Exit Price = Rs. 188 Mkt. Cap = Rs. 1795 Cr

150

Entry Price = Rs. 42.71 Mkt. Cap = Rs. 344 Cr

100

THANK YOU
23/06/2007 23/12/2007 23/06/2008 23/12/2008 23/06/2009 23/12/2009

50

0 23/12/2005 23/06/2006 23/12/2006

Investment drivers A mall management and development company which has plans to develop malls with total of 3 mn sq. ft. over the next 2-3 years Company also has its own retail chain named as 'Provogue' which complements the mall business

INDIA Opportunity in Chaos

DRIVERS OF THE INDIAN BULL MARKET Indias economic growth Superlative corporate performance Market architecture and infrastructure in place The tectonic shift of imperatives to invest in emerging markets Vast under-exposure to equities in India India Opportunity Indian Entrepreneur ship
Sustainable Profit Growth & Wealth Creation Through Cycles

Indian Business Model

Why the India Opportunity is Unique

Size : GDP of USD 1254 billion Expanding Investible universe : Billion dollar companies multiplied 7.5 times in 8 years Diverse Sectors Improving Liquidity

Opportunity Exists!!! Exists!!! Opportunity How to to Play Play How

PRODUCT POSITIONING

Alchemy PMS Strategies

PRODUCT CORE POSITIONING CAPITALIZATION BIAS STYLE BENCHMARK

ALCHEMY HIGH-GROWTH ALCHEMY LEADERS ALCHEMY MOMENTUM STRATEGY

DIVERSIFIED LONGTERM GROWTH DIVERSIFIED LARGESIZED COMPANIES DIVERSIFIED FUND OF FUNDS

MIDCAP BIAS

GROWTH

BSE 500

LARGE-CAP

GROWTH

S&P CNX NIFTY

MULTI-CAP

GROWTH

S&P CNX NIFTY

Alchemy High Growth

Investment Objective Investment Strategy Fund Manager Minimum Investment The strategy aims at generating long-term returns by investing in equities across market capitalizations but with a strong mid cap bias A typical portfolio consists of between 20-25 stocks. Indicative asset allocation is 25% large cap, 10% small cap and balance mid cap Chandraprakash Padiyar Rs 50 lacs Type Suggested Time Horizon Open Ended 3 years

Why Alchemy High-Growth?

India a high growth economy with a strong entrepreneurial culture to exploit the growth opportunity Through a combination of top-down and bottom-up fundamental research, endeavor to identify and invest in growth companies which will enable long term wealth creation. Alchemy High- Growth has outperformed its benchmark index (BSE 500) in 8 out of 9 completed calendar years since its inception The fund has created substantial wealth since inception. Rs 1 crore invested since inception (8th May, 2002) has grown to Rs 12.5 crores v/s. Rs. 6.6 crores if invested in the benchmark* The Product has a consistent track-record of over 8 years

Alchemy High Growth

Alchemy High Growth 160.00 BSE 500

TOP 10 HOLDINGS
SCRIP Holding (%)

120.00

CAGR: 33.9%

80.00

CAGR: 24.4%

BAJAJ AUTO FINANCE LTD SINTEX INDUSTRIES LTD PTC INDIA MAYTAS INFRA LTD MAHINDRA & MAHINDRA LTD BOMBAY DYEING MFG.CO.LTD VOLTAS LTD APTECH LTD STRIDES ARCOLAB DEEPAK FERTILISERS & PETROCHEMICALS MARKET CAP ALLOCATION

7.1 6.7 4.8 4.5 4.5 4.4 3.5 3.4 3.3 3.2

40.00

0.00 May-02 May-03 May-04 May-05 May-06 May-07 May-08 May-09 May-10

* CAGR as on 31 Dec, 2010

Alchemy High Growth BSE 500

> 5000 cr

500 cr - 5000 cr

< 500 cr

Cash & Equivalents

160.0%

134.9%

11.7%
120.0% 101.1% 96.5% 77.9% 80.0% 36.6% 40.0% 4.8% 0.0% -2.4% 26.1% 17.5% 40.8% 38.9% 17.3% 16.4% 63.0% 58.7% 90.2%

5.4%

31.3%

-40.0% -56.1% -80.0% CY 2002* CY 2003 CY 2004 CY 2005 CY 2006 CY 2007 CY 2008 CY 2009 CY 2010 -58.1%

51.7%

* From inception of product (8-May-2002)

Alchemy Leaders
INVESTMENT OBJECTIVE Investment Strategy Fund Manager Min investment The strategy aims at generating long-term returns by investing in Large-Cap equities

Focuses on companies with market capitalization > Rs. 5000 crores Chandraprakash Padiyar Rs 50 Lacs Type

Open Ended 3-5 years

Suggested Time Horizon

Why Alchemy Leaders?

This universe gives us an opportunity to invest in larger mid caps and large cap companies across the leading sectors Invests in growth companies which have achieved scale and have either reached or have potential to be amongst the leaders in their field/industry segments. Typically these companies would have experience of operating through good-bad business cycles. Our extensive top-down and bottom-up approach helps build a portfolio of high conviction ideas to deliver steady returns This strategy has delivered consistent and superior returns as indicated by the Sharpe ratio compared to the benchmark (Nifty) Alchemy Leaders has outperformed its benchmark index (Nifty) in 2 out of 5 completed calendar years since its inception

Alchemy Leaders
Alchemy Leaders 20.00 18.00 16.00 14.00 CAGR: 12.4% 12.00 10.00 8.00 6.00 Dec-06 Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Nifty CAGR: 13.7%

TOP 10 HOLDINGS
SCRIP RELIANCE INDUSTRIES LTD SINTEX INDUSTRIES LTD BAJAJ-AUTO LTD CORPORATION BANK MAHINDRA & MAHINDRA LTD ENGINEERS INDIA LTD CROMPTON GREAVES LTD ICICI BANK LTD VOLTAS LTD UNITED PHOSPHORUS LTD Holding 7.9 7.0 6.3 5.6 5.5 5.0 5.0 4.8 4.7 4.6

* CAGR as on 31st Dec, 2010

Alchemy Leaders 76.9% 80.0% 60.0% 40.0% 20.0% 0.0% -20.0% -40.0% -60.0% CY 2006* CY 2007 -51.3% CY 2008 -51.8% CY 2009 CY 2010 2.9% 3.5% 15.6% 17.9% 54.8% Nifty 75.8%

MARKET CAP ALLOCATION

> 5000 cr 500 cr - 5000 cr Cash & Equivalents

63.6%

9.7% 8.4%

81.9%

* From inception of product (21-Dec-2006)

ALCHEMY MOMENTUM STRATEGY Alchemy Momentum Strategy

Investment Objective Investment Strategy Launch Date To generate superior equity returns by investing in a portfolio of open-ended equity mutual funds. The universe of investable funds includes liquid mutual funds to bring in an overlay of asset class risk management. A strategy that is unbiased and devoid of human intervention, in which the fund selection process is based purely on the results of the quantitative model MSI. 1st February 2010 Subscription Once a month All money inflows should be credited into the pool account by the 25th of the month and will be invested in the first few working days of the following month Type Open ended (Fund of Funds) Redemption Once a month Redemption requests should be intimated by the 25th day of any month for the redemption amount to be made available to the client by the 10th day of the following month

Why Alchemy Momentum?

A Fund of Funds which selects equity mutual funds based on relative momentum. Keeps moving to the relatively better performing funds, thereby capturing the themes or trends driving the markets at that time. Aims to reduce capital drawdown due to weak equity markets by including liquid funds in the investable fund universe.

ALCHEMY MOMENTUM STRATEGY Alchemy Momentum Strategy

AMS simulations done for historic periods indicate that by aggressively seeking and reviewing relative carriers of momentum on a monthly basis, a portfolio based on funds identified by the MSI model can, in the long run, provide returns far superior to the Nifty. AMS historic simulations and performance Trailing Returns (%) as on 31 December 2010 Period
1-month 3-month 6-month 1-year 2-years 3-years 4-years 5-years

AMS
-0.4 -5.2 3.4 12.8 92.9 17.6 103.6 175.8

Nifty
4.6 1.7 15.5 17.9 107.3 -0.1 54.7 116.3

Average Equity Mutual Fund Returns

2.1 -0.7 11.9 18.4 118.5 -0.5 54.7 112.0

ALCHEMY MOMENTUM STRATEGY Alchemy Momentum Strategy

Risk / Reward vs. Nifty (3-years)*
Monthly Alpha Beta R-squared Standard Deviation (annualized) Sharpe Ratio
Nifty (base 525.00

Period*

AMS Rank

No. of Equity Funds

1 month

234 235 238 194 177 32 14 11

31-1 -200 5 = 10 0)

262 257 252 246 214 182 166 145

0.46 0.59 0.56 26.94 -0.03

31-1-20 05 = 100)

3 months 6 months 1 year 2 years 3 years 4 years 5 years

A MS (base

475.00

425.00

375.00

325.00

275.00

225.00

175.00

125.00

75.00 1-Jan-05 1-Jul-05 1-Jan-06 1-Jul-06 1-Jan-07 1-Jul-07 1-Jan-08 1-Jul-08 1-Jan-09 1-Jul-09 1-Jan-10 1-Jul-1 0

* Data as on 31-12-2010

Offshore Offerings Opportunity Exists!!! How to Play

Funds Structure

Opportunity Exists!!! How to Play

Fund Alchemy India Long Term Fund Launched June 2008

Alchemy India Fund Launched Feb 2010

Opportunity Exists!!! How to Play

Alchemy India CB Fund Launched Oct 2010

Opportunity Universe: All listed stocks in India PIPES and Pre-IPO possible Market Cap agnostic where liquidity can be challenging at times Buy & Hold with a long term perspective plus selective hedging and shorting opportunities Focus on liquidity, hence universe restricted to 200 stocks available on the derivative exchange in India Long biased actively managed fund with net long exposure ranging from 30-70% Relatively lower volatility Monthly Liquidity Fund comprising of India Convertible Bonds Focussed approach dedicated fund managers focussed only on one asset class Diversification Diversified portfolio with 15-20 bonds Leverage up to 2X to maximise returns Fund will have a mixture of new bond issuances, secondary market bonds and restructuring opportunities that would arise from time to time. Fund Strategy will include a combination of pure yield play, yield with optionality and pure arbitrage strategies

Risk Factors & Disclaimers

General Risk factors All investment products attract various kinds of risks. Please read the relevant Disclosure Document/ Investment Agreement carefully before investing.

General Disclaimers The information and opinions contained in this report/ presentation have been obtained from sources believed to be reliable, but no representation or warranty, express or implied, is made that such information is accurate or complete. Information and opinions contained in the report/ presentation are disseminated for the information of authorized recipients only, and are not to be relied upon as advisory or authoritative or taken in substitution for the exercise of due diligence and judgement by any recipient. The information and opinions are not, and should not be construed as, an offer or solicitation to buy or sell any securities or make any investments. Nothing contained herein, including past performance, shall constitute any representation or warranty as to future performance. The services related to Mutual funds, Insurance, Real Estate, Art, Commodity etc. may merely be a referral / advisory services in nature. Such third party investment products or services do attract the general and specific risk factors unique to those respective products or services, which would be mentioned by the manufactures of those products in the respective product documentation. The prospective investors in such third party products are advised to read and understand those risk factors & disclaimers, in addition to what has been stated herein. Alchemy Capital Management Pvt. Ltd., its Group or affiliates have not verified and do not take any responsibility for any statements, numbers or claims made, omitted to be made or implied in any documentation, presentations etc. which have been created by the manufacturers of such third party products or services. The client is solely responsible for consulting his/her/its own independent advisors as to the legal, tax, accounting and related matters concerning investments and nothing in this document or in any communication shall constitutes such advice. The client is expected to understand the risk factors associated with investment & act on the information solely on his/her/its own risk. As a condition for providing this information, the client agrees that Alchemy Capital Management Pvt. Ltd., its Group or affiliates makes no representation and shall have no liability in any way arising to them or any other entity for any loss or damage, direct or indirect, arising from the use of this information. This document and its contents are proprietary information of Alchemy Capital Management Pvt. Ltd and may not be reproduced or otherwise disseminated in whole or in part without the written consent.

ALCHEMY PRODUCTS

THANK YOU

Thank you