Ranjan Bhaduri


B.Sc. (Honours)


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Dr. Ranjan Bhaduri is the Founder, President & CEO of Bodhi Research Group. Bodhi Research Group is focused on research and education in the alternative investments industry.


Dr. Bhaduri has extensive experience in hedge fund research, hedge fund factorization, portfolio management, and due diligence (investment, operational, and structural). Dr. Bhaduri has designed and implemented an institutional due diligence and research program. Dr. Bhaduri’s experience includes being on an Investment Committee at Morgan Stanley where he conducted due diligence and helped design customized portfolios of Alternatives. Earlier, he was at a Canadian Fund of Funds, and at a multi-billion dollar capital management firm where he was involved in all aspects of its fund of hedge funds and structured finance business. He has also worked with two major Canadian investment banks in the Financial Strategy Consulting Group and in Global Risk Management & Control, respectively.


Dr. Bhaduri has a winning track record of leadership and training. Several of his former analysts and interns have gone on to have successful careers and have held positions at prestigious organizations, including the following firms:   Ontario Teachers’ Pension Plan, Goldman Sachs, J.P Morgan, Wisconsin Alumni Research Foundation, Securities Exchange Commission (SEC), Neuberger Berman, and Crabel Capital Management.


Dr. Bhaduri has held an advisory role at the East-West Center, a leading think tank on the Asia-Pacific region. He has taught finance and mathematics at several universities and lectured on Derivatives for the Montreal Exchange.  Dr. Bhaduri has published papers on and been invited to speak worldwide regarding hedge fund issues, and advanced portfolio and risk management techniques. Dr. Bhaduri was invited by the CME to be part of a special delegation that met with regulators in Beijing and Taipei to discuss hedge fund issues.


Dr. Bhaduri holds both the CFA and CAIA charters. He is a member of the American Mathematical Society, the Mathematical Association of America, the Toronto CFA Society, and PRMIA. Dr. Bhaduri previously served as a member of the All About Alpha Editorial Board and has previously served on the CAIA Chicago Chapter Executive. Dr. Bhaduri recently served on the Board of Directors of AIMA Canada, co-chair of AIMA Canada Managed Futures Committee, and on the AIMA Global Research Committee.

Dr. Bhaduri's Selected Speaking Engagements

Dr. Bhaduri's Selected Papers


Beaudry Kaneshige, MA


Operations Jedi

Ms. Shannon Beaudry Kaneshige is Operations Jedi at Bodhi Research Group. Her duties include operations, document infrastructure, and client services.


Shannon Beaudry Kaneshige comes to Bodhi Research Group with 15 years of experience in cultural institutions, nonprofits, small business, and start-ups. Most recently Ms. Kaneshige consulted with environmental, charitable, and social justice organizations in Honolulu, Hawai’i, assisting them with the creation of internal policy, business plans, and program evaluations. She has organized multi-day conferences with over 400 attendees, managed large-scale database moves, and has presented at several academic conferences. 

Shannon Beaudry Kaneshige received her Masters of Arts in Sociology from Roosevelt University and earned the prestigious Bronze R Award for her work as a founding member of the Roosevelt University Sociological Society. Ms. Kaneshige was awarded The Mansfield Scholarship for two consecutive years. She has published sociological essays in conference proceedings and periodicals and is also a published poet.

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Dr. Davide Sabatini

O.D, M.Sc., B.Sc. (Honours), B.Eng


Solutions Engineer

Dr. Davide Sabatini is the Solutions Engineer at Bodhi Research Group.  His duties include building infrastructure and assisting the CEO with analysis.  He uses multi-disciplinary skills to develop client-centered solutions focused on research and education in the alternative investments industry.


Dr. Sabatini draws on inter-professional experience in the business, clinical and engineering domains.  As co-founder of archerETF, he worked to offer investors low-cost, multi-asset-class portfolios using ETFs.  As a board-certified optometric physician, he worked to build multiple private clinics by creating cloud-based management systems and delivering therapeutic eye-care to a large patient base.  As an entrepreneurial engineer, he developed a secure web-based educational utility that facilitates, enhances and differentiates elementary-level curriculum delivery for both educators and students.


Dr. Sabatini holds degrees in mathematics, physics, applied mathematics, optometry and engineering. Academic awards include a Governor General Award, Chancellor Scholarship, NSERC Scholarship, Burke Memorial Ring, Milos Novotny Graduate Fellowship and Graduate Teaching Award.  Dr. Sabatini was a founding board member of Wellspring Niagara which provides free social, psychological, informational and spiritual support to individuals and families living with cancer.  He has represented Canada internationally in ball hockey.


Visiting Research Fellows

Bodhi Research Group has talented visiting research faculty members that can be invoked instantly if necessary. Bodhi's Visiting Research Faculty follows the university model of visiting Professors, adjunct Professors or affiliate professors. This model allows Bodhi to have lower overhead; savings which are passed along to the client.



Kalina Berova is Visiting Researcher at Bodhi Research Group. Her duties include manager research, co-investments, private equity, and portfolio diagnostics.


Ms. Berova has over 15 years of investment and risk management industry experience. Most recently, she was part of the External Relationships Team at the New York office of OMERS, a Canadian pension fund, where she gained experience in a broad range of traditional and niche hedge fund strategies, custom alternative investment solutions, and private equity funds & co-investments. Previously, Ms. Berova worked at the Ontario Teachers’ Pension Plan (OTPP) in Toronto where she was part of the Total Fund Asset Mix and Risk Team, responsible for a number of investment programs, including alternatives, quantiative trading, and etc. While at OTPP, she also developed a quantitative solution for evaluating hedge funds and hedge fund portfolios.


Ms. Berova has an MBA from Simon School of Business, University of Rochester, USA. She is a passionate experimental cook.

Kalina Berova


Visting Researcher

October 2019 - Current

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Ela Karahasanoglu


Visting Researcher

April 15, 2019 - September 14, 2019

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Dave Finstad

M.Sc., CFA


Visiting Researcher

August 1, 2018 - July 31, 2019

Ela Karahasanoglu is a Visiting Researcher at Bodhi Research Group. Her duties include manager research, portfolio diagnostics, and asset allocation analysis.


Ms. Karahasanoglu has over 20 years of investment industry experience.  Ms. Karahasanoglu’s adaptability is demonstrated in her diverse experience; she has worked in Turkey, Germany, USA, and Canada.  Moreover, Ms. Karahasanoglu has worked at pensions, banks, a hedge fund, and at a consulting firm.  Her experience gives Ms. Karahasanoglu a global lens and a broad perspective in alternative investments and asset management matters.


Most recently, Ms. Karahasanoglu was a Managing Director, Multi-Asset Strategies at Investment Management Corporation of Ontario (IMCO).  At IMCO, she oversaw the $8.5bn Multi-Asset Strategies portfolio, comprising risk parity and absolute return strategies, including hedge funds as well as private investments. She held a similar position at Workplace Safety and Insurance Board (WSIB).  Previously, Ms. Karahasanoglu was VP & Institutional PM of Currency and Asset Allocation at CIBC Asset Management. She was also a Principal at Mercer conducting manager research.  Ms. Karahasanoglu has trading experience – designing models for a quantitative systematic CTA, and a discretionary trader in fixed income and currencies in the emerging markets.


Ms. Karahasanoglu won the Institutional Investor Hedge Fund Rising Star Award in 2018.  She holds a Master of Business Administration from Georgetown University. She is both a CFA Charterholder and a CAIA Charterholder. She also volunteers as the Co-Head of the CAIA Toronto Chapter. Ms. Karahasanoglu’s husband has served as a firefighter in Toronto for almost 34 years. 

Dave Finstad is Visiting Researcher at Bodhi Research Group. His duties include manager research, portfolio analysis, and assisting with any mandates from pension clients.


Mr. Finstad has over 25 years of investment industry experience. Most recently, he built and led the external management team at the New York office of OMERS, a Canadian pension fund based in Toronto. Previously, he spent 10 years at AIMCo in Edmonton, Alberta in a similar position. He also worked for Frank Russell Canada (now Russell Investments) and for the Workers' Compensation Board - Alberta.


Mr. Finstad is a member of the board for Alignment of Interests, a non-profit, investor-driven organization focused on strengthening the alignment between hedge fund industry participants. He has spoken at numerous industry conferences and has written a number of articles across a range of investment topics including manager selection and investment culture.


Mr. Finstad has a M.Sc. in Finance from the London School of Economics and is a CFA charterholder.  Dave Finstad is also an avid ice hockey fan.

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