AlphaGrep operates with a clear philosophy: data-driven, algorithm-based investment decisions that eliminate human biases and aim to deliver performance
Bhautik Ambani, Chief Executive Officer
India's portfolio management services sector is witnessing unprecedented transformation. Over the past decade, the number of PMS managers has grown exponentially to nearly 500 across the country, offering diverse strategies spanning equities, derivatives, fixed income, and multi-asset approaches. This reflects high-net-worth individuals seeking personalized investment solutions beyond traditional mutual funds. However, this solutions comes with the significant challenges.
Firstly, the operational complexity of maintaining separate DMAT accounts, navigating tax inefficiencies across multiple holdings, and accounting for trades in individual books creates a substantial administrative burden. Secondly, for clients with multiple PMS accounts, complications multiply when different managers trade the same stocks, creating first-in-first-out taxation headaches. Lastly, regulatory restrictions further limit certain derivative strategies, constraining the platform's full potential. In this complex landscape, investors seek managers who deliver not just returns, but operational simplicity, tax efficiency, and truly differentiated investment approaches.
Amid these challenges, AlphaGrep Investment Management has emerged as one of the distinctive player pioneering systematic, quantitative investing in India's portfolio management space. Founded sixteen years ago, the group operates with a clear philosophy: data-driven, algorithm-based investment decisions that eliminate human biases and aim to deliver performance. Unlike discretionary managers relying on fund manager intuition, the firm harnesses sophisticated mathematical models, extensive data mining, and cutting-edge technology infrastructure.
The AlphaGrep Group manages USD 1.3 billion globally across proprietary investments and third-party capital, with its India asset management business overseeing Rs 2,000-2,500 crore across AIF, PMS, and GIFT City platforms. "We aim to bring institutional-grade quantitative capabilities, typically found only in global hedge funds, to Indian high net worth investors", adds Bhautik Ambani, Chief Executive Officer.
A Global Quantitative Powerhouse with Deep Indian Roots
AlphaGrep's Group has competitive advantage stems from its extraordinary team and technological infrastructure. The group employs over 450 professionals, with highly qualified quant researchers and traders holding advanced degrees in computer science, engineering, mathematics, and statistics from premier institutions like IIT. These researchers are supported by 125-150 technology professionals who build and maintain sophisticated trading systems and data platforms. The group's data capabilities encompass not just historical depth but remarkable breadth across multiple sources, meticulously cleaned and stored. This institutional infrastructure enables AlphaGrep to trade across multiple global exchanges and asset classes, validating that their strategies work not just in India but in developed markets worldwide.
The India asset management business operates across multiple platforms. In AIF, AlphaGrep focuses on long-short and absolute return strategies. Their PMS offering represents their most innovative product: AlphaGrep Multi-Factor Fund Quant PMS, a fully systematic, quantitative long-only strategy. Running for over three years, this strategy invests in the top 200 stocks with a large-cap bias, targeting 3-5 percent annualized outperformance over benchmarks. During a period when most discretionary managers struggled to match benchmarks, the firm consistently beat them across one, two, and three-year periods, achieving top-quartile performance. This consistency reflects quantitative investing's strength-the strategy adapts across multiple factors rather than being biased toward any single investment style.
Built on Proven Global Principles, AlphaGrep's leadership brings an exceptional pedigree. Founders Mohit Mutreja and Parshant Mittal are Bachelor of Science in Engineering and from Wharton School of the University of Pennsylvania. over 30+ years of combined experience at world-leading quantitative hedge funds like Citadel, D.E. Shaw before establishing AlphaGrep in 2010. Praveen Kumar, CIO for Alternates overseeing AIF and PMS, is an IIT graduate with over fifteen years of experience running quantitative strategies in India, including more than a decade at Edelweiss before joining AlphaGrep five years ago.
AlphaGrep operates with a clear philosophy: data-driven, algorithm-based investment decisions that eliminate human biases and aim to deliver performanceBhautik Ambani, Chief Executive Officer
Journey of Strategic Growth and Future Vision
Since launching its asset management business three years ago with Rs 100 crore, AlphaGrep has grown its assets to Rs 2,500 crore, demonstrating strong investor confidence. This growth has been accompanied by strategic platform expansion the firm now offers two Category III AIFs, a long-only PMS, and a dollar-based GIFT City product. Distribution partnerships have expanded from a handful of wealth managers to nearly twenty relationships across India's private banking sector, ensuring nationwide client reach. The client base now spans the entire country, reflecting the universal appeal of systematic, research-driven investment strategies.
Looking ahead, AlphaGrep's most significant initiative is entering the mutual fund space.It has received in-principle SEBI approval and now is in the final stages of obtaining its license. This platform will democratize access to its quantitative capabilities beyond the Rs 50 lakh PMS minimum. The mutual fund business will be led by two IIT-graduate fund managers with couple of decades of experience each in running quantitative strategies. AlphaGrep aims to differentiate through investment approach quant versus discretionary and innovative product structures. The firm is particularly excited about SEBI's new Specialized Investment Fund (SIF) category, which will allow them to launch long-short strategies leveraging their expertise beyond traditional long-only mandates.
“In a market where consistent outperformance remains elusive for most managers, our systematic approach and track record position us as a preferred choice for high net worth individuals seeking data-driven wealth creation”, concludes Bhautik Ambani, Chief Executive Officer.
