Artificial intelligence in an emerging portfolio manager: the case of Evovest

Sylvie St-Onge, Catherine Vincent and Michel Magnan

Chapter 28 in Handbook of Banking and Finance in Emerging Markets, 2022, pp 523-537 from Edward Elgar Publishing

Abstract: Evovest is an emerging portfolio management firm based in Montréal (Québec, Canada). Pre-pandemic, the firm has just moved into a coworking office space dedicated to fintechs in downtown Montréal. Its ambition is to use artificial intelligence (AI) to deliver sophisticated and scalable investment products, powered by machine learning and science but driven by humans. This strategy makes it possible to obtain an advantageous return profile compared to the alternatives available on the market. The firm was recently awarded a global equity mandate via a government-led initiative to support emerging portfolio managers. The case illustrates and discusses the different impacts of AI in the financial services industry, as experienced by Evovest and its founder. It also raises some questions about the fit between current finance education curricula and labor market needs in the financial services industry.

Keywords: Development Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2022
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