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Kurt Winkelmann


Kurt Winkelmann is founder of Navega Strategies, Llc. Prior to Navega, Kurt was Managing Director and Global Head of Research at MSCI, Inc, and a member of the firm’s Executive Committee. A particular focus of Kurt’s as Head of Research was the development of modern, macroeconomic-based asset allocation and risk models. Before joining MSCI, Kurt spent 17 years at Goldman Sachs, first in Fixed Income Research, and later in GSAM. At GSAM, Kurt was a Managing Director and Head of the Global Investment Strategies group, a group focused on providing advice and solutions to institutional investors. Kurt has a PhD and MA in Economics from the University of Minnesota, and a BA in Mathematics and Economics from Macalester College. Kurt is a member of the Investment Risk Advisory Panel for the Monetary Authority of Singapore; Chair of the Advisory Board for the Heller-Hurwicz Economics Institute at the University of Minnesota; a Trustee Emeritus for the University of Minnesota Foundation and a former Director of the Alberta Investment Management Company.

Raghu Suryanarayanan


Raghu is a co-founder and partner of Navega Strategies. Prior to Navega, he was an Executive Director at MSCI, where he focused on multi-asset class research. He and his team were responsible for applying new macro finance research to develop and bring to market macro-based risk models. Those models help institutional investors assess the impact of macro scenarios on global, multi-asset class returns. Raghu also developed and implemented models to manage the risk of alternative investments, including direct real estate and private equity. And, he researched portfolio construction methods for investable equity factor (“smart beta”) indices. His paper “Efficient Replication of Factor Returns” won the William Sharpe Award for best research paper. Prior to MSCI, Raghu worked in the Global Economics and Strategy group at Morgan Stanley. He holds a PhD in Economics from the University of Chicago, an MA in Economics from the Paris School of Economics, and an MA in Applied Mathematics and Statistics from ENSAE (Paris, France).

Ferenc Szalai


Ferenc is a co-founder of Navega Strategies. Prior to Navega, he worked on numerous international high-performance, grid and cloud computing projects including LHC CERN EGEE. Author of several scientific publication on the field. He designed, operated and developed large-scale computing systems and web services. He is an active member of the Hungarian start-up community: co-founder, angel investor and advisor of various high-tech startups. Ferenc has a MSc in physics.

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