Assistant Portfolio Manager

Assistant Portfolio Manager

We are working with a boutique asset manager ($6bn+ AUM) that are looking to hire an Assistant Portfolio Manager.

Purposes of Role:   To join a growing team responsible for the International Equity and Opportunistic Value strategies at a boutique fund management firm focused on listed funds. The successful candidate will work closely with, and in support of, the existing team of portfolio managers to manage institutional portfolios, with a primary focus on Opportunistic Value portfolios. The role encompasses all aspects of portfolio management including security research and selection, risk management, process improvement and client/consultant engagement.

Candidate Profile:   The position would suit someone with 4-5 years front-office experience in third party fund selection, manager research and analysis seeking to grow into a portfolio management role. Familiarity with listed closed-end funds would be ideal, as would multi-asset experience. A grounding in a process-driven environment with a focus on investment performance would be preferred. Active portfolio management experience would also be a positive but is not essential. The candidate will be comfortable in a team-oriented environment where a collegiate approach is expected. This role would also be ideal for someone that is bored of pure analysis work and that wants to move into a role where decision have more impact on portfolios

Educational Requirements

Bachelor’s Degree

Key Skills/Attributes

Investment   Demonstrated enthusiasm for investment and markets. Experience of third party fund analysis and selection, including making investment recommendations. Awareness of regulatory requirements & FCA Principles. Ability to form market relationships and assist in execution of portfolio rebalancings & daily trading essential.

Self-Management   Ability to manage workflow and be self-motivated.

Integrity   Adherence to highest ethical standards. Commitment to high work quality and timely results.

Flexibility   Ability to adjust priorities/workload in real time. Responsive to changing demands in workflows.

Excel/Technology   Strong Excel skills essential, VBA & Bloomberg familiarity a positive.

Team Oriented   Strong cultural emphasis on collegiate behaviour. Expected to work with fellow investment professionals across the firm to support idea generation.

Communication Skills   Able to communicate complex ideas succinctly and clearly, both verbally and in writing. Able to propose and challenge constructively. Comfortable presenting ideas to a wider audience. Needs to be client-facing.

Responsibilities

Portfolio Management - To participate in the decision making and implementation process for Opportunistic Value CEF strategies. To provide assistance on International Equity CEF strategy accounts. To provide informed idea generation & challenge for these strategies. Contribute to “constant improvement” objective in investment process.

Trading – to assist in execution for the Opportunistic Value CEF strategies and International Equity CEF strategies.

Research – Work alongside the firm’s research resource to provide insight primarily on the universe of Opportunistic Value universe of closed-end funds. Includes meeting with fund managers, attending presentations/seminars, analysis of fund literature and press releases, writing research reports and making investment recommendations.

Asset Allocation – Contribute to asset allocation decisions within the Opportunistic Value CEF strategies. Contribute to the asset allocation process & discussion during weekly team meetings.

Client Servicing & Marketing – participate in giving presentations of the strategy to existing and prospective consultants and clients. In addition, aid the production and review of relevant COL publications, periodic reports and presentations.

Trading and execution – Acquire competence with firm’s dealing systems and procedures. Develop and maintain relationships with the London and US brokerage community for closed end funds. Supporting trading undertaken in London and US.

Corporate Governance – Assist in evaluating and recommending appropriate action on Corporate Actions, Proxy Voting and Disclosures for portfolio securities.

Other Points to Note:

• $6.5bn firm AUM
• Funds will typically express AA views through investing in closed-end funds, which often trade at a discount – they will find these dislocations and will aim to buy these funds at a discount to generate alpha
• Team has grown from $250m to $1.6bn AUM in last 4 years
• 2 Spokes to the team:
• Long-only vanilla equity strategy
• Opportunistic Value fund - $270m AUM
• Reasons this role exists
• This role exists because assets on the team have grown quickly and there is simply too much work to be done for a team this small (3 people)
• There is also a genuine busines need to have additional PM level resource. Primary job is to support growth and aid with decision making and process improvement
• Because of remote working, it will be important that whoever joins can hit the ground running without requiring too much hand-holding

Key Success Factors in first 12 months:

• A smooth and happy integration with the team, as well as strong chemistry with the other PMs (which have been working together for over 10 years)

• This person will have adapted and absorbed the culture and investment process, as well as how to contribute to it
• At the margin, if value is added, then this is excellent
• Within 12 months, this person should be able to form market relationships, undertake trading and is a safe pair of hands and competent execution trader.