High Yield Portfolio Manager

Role Overview

We are working with a global asset manager to hire a High Yield Credit Portfolio Manager. The role is within their established high-yield credit franchise, managing approximately £5bn in AUM.

The candidate should have 5+ years of direct risk-taking experience, ideally 8-12+ years in total, as a PM or Co-PM. The role involves trading across the HY spectrum, including CCC and B-rated credits, using a combination of bottom-up credit selection and top-down strategic positioning. Experience managing global HY portfolios with exposure to US credit markets is highly relevant.

This position is part of the ongoing expansion of their fixed income and credit teams, which have recently added senior hires globally.

Key Responsibilities

• Co-manage global high-yield portfolios, aiming for consistent outperformance relative to benchmarks.
• Analyze credit fundamentals and identify investment opportunities across sectors and capital structures.
• Take risk positions across the high-yield spectrum, including CCC-rated credits, to generate strong alpha across the portfolio range.
• Implement risk management strategies to control drawdowns.
• Work closely with Credit Research and Trading teams globally to align on strategies and execution.
• Contribute to the development of strategies for portfolio optimization and expansion.

Requirements

• 5+ years of experience as a PM or Co-PM in high-yield credit, with demonstrated performance attribution.
• Strong knowledge of US high-yield markets, including sector trends and capital structures.
• Experience managing global high-yield portfolios, collaborating with credit analysts and trading teams.
• Proven ability to manage portfolios across the high-yield spectrum, including CCC/B-rated credits.
• Strong understanding of credit fundamentals and advanced risk management practices.
• Ability to implement strategies and identify opportunities across high-yield markets.
• Experience managing portfolios through periods of market stress, including multiple credit cycles, is an advantage.