Who are we?
What do we do?
OpemMind Capital is a quantitative and technology driven portfolio manager that generate alpha and improve the risk-return relationship by combining option overlays with Active Smart-Beta (Smart Alpha) strategies. We manage several equity strategies using an innovative approach in terms of portfolio construction and stock selection.
Our investment philosophy is based on the concept of Adaptive Investment. With this approach, investors adjust their investments to reflect market conditions such as :
- the volatility of investments
- The return or the current state of the market (Bull or Bear).
We adapt the risk profile of our strategies based on Volatility Regime conditions in the equity market and we use our proprietary Effective Volatility Regime methodology. Academic research demonstrates that portfolios that take less risk when volatility is high produce large, positive alphas and increase factor Sharpe ratios by substantial amounts. Our systematic and quantitative stock selection process is based on the concept of free cash flow and dividend payout ratio.
Investment methodology and process
Our investment methodology is backed by sound and robust micro-economic theory and our investment decision making process is powered by an automated state-of-the-art information technology system.
Experience | Knowledge | Integrity
Karl Gauvin M.Sc. – President and Chief Investment Officer
Karl Gauvin has twenty-five years of experience in the field of investment management (capital markets). He held numerous positions at portfolio management and product development levels in firms like TAL Global Asset Management, Brockhouse Cooper and Montrusco Bolton Investments.
In 2007/2008 he took a temporary leave from his area of expertise and invest (angel investor) in 8D Technologies. The company is the developer of the original IT solution that propels the street bike rental system “BiXi” and has been sold to dozens of cities worldwide.
During his career, Mr. Gauvin managed (and co-managed) close to 50 mutual funds and investment strategies. He also led the development of nearly twenty investment products that generated assets under management of more than eight billion Canadian dollars. In particular, he was one of the first to include the use of financial derivatives (options and futures) in the mutual fund industry in Canada and to promote the use of systematic financial risk management technique for traditional investment strategies. In 2015, he co-founded Openmind Capital. His extensive expertise in this sector gives him an ability to manage projects at all levels of the management chain of financial products (investment, marketing, distribution, compliance and information systems).
Mr. Gauvin holds a M.Sc. in Finance from H.E.C. (Université de Montréal) and an undergraduate degree in Business, Finance and Economics.
Paul Turcotte, Ph.D. – Vice-President and Chief Scientific Officer
Paul Turcotte has held multiple positions at Caisse de dépôt et placement du Québec (CDPQ). In 2007, he was responsible for assessing the technical/expertise needs for the establishment of a new quantitative analysis group. From 2002 to 2005, as a quantitative analyst, he developed a real-time analysis system for data gathering, interest rate curve and volatility surface computations. From 1998 to 2002, he developed Sarah, the software used to evaluate financial market risks for Caisse’s global portfolio. In addition to designing the methodology and the architecture of the system, he provided expertise to managers on risk allocation strategies.
During this period, Mr. Turcotte presented risk measurement and management methods both internally and in « Become a CFA » sessions as well as in scientific conferences and at Université de Sherbrooke as a guess lecturer. Before working at CDPQ , Mr. Turcotte worked as a post-doctorate researcher in numerical imaging in Montreal and also in fundamental physics in Taiwan.
From 2010 to 2013, Mr. Turcotte was Chief Risk Officer for Akira Capital, a Montreal-based discretionary commodity Hedge Fund.
Mr. Turcotte holds a Ph.D . in physics from Université de Montréal. His thesis was on subatomic particle phenomenology. He also holds a Bachelor in physics degree from Université de Montréal.
Dino Mastroianni, M.Sc. – Vice-President and Portfolio Manager
Dino Mastroianni has over 20 years of experience in the field of investment management. From 2005 to 2011 he was the lead risk manager for the New York market neutral operations for La Caisse de Dépôt et Placements du Québec. From 1995 to 2004 he held numerous positions at Barra International in Canada and the U.K.
While at Barra International Mr. Mastroianni has advised numerous portfolio managers in Europe and Canada on risk aspects and portfolio construction methodologies using factor models. During his time at La Caisse, he helped portfolio managers better understand the risks in their portfolios and how best to neutralize them. He also advised internal teams on Smart Beta strategies.
Mr. Mastroianni holds a M.Sc. in Finance from Concordia University and undergraduate degree in Economics and Finance from Université de Montréal and H.E.C.
About OpenMind Capital
Our investment philosophy is based on the concept of Adaptive Investment Approach. This concept is the name given to the investment strategies that under which investors can constantly adjust their investments to reflect market conditions such as the volatility of investments, the return or the current condition of the market (Bull or Bear).
307 – 4060 St-Laurent Blvd.
Montreal, QC, H2W 1Y9