Junior Portfolio Manager Government Credit
SAMCo’s objective is to provide cost effective investment advice and asset management services to its clients. On behalf of its clients SAMCo invests in fixed income, equity and alternative investment categories such as private equity funds and hedge funds.
The company is internationally oriented with clients in 8 different countries and employing approximately 140 professionals. SAMCo is regulated by the Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB) as an asset manager and investment fund manager. Continuous change in financial markets and investment regulations make it a professionally challenging environment to work in.
We are currently looking to recruit a Portfolio Manager to join the Fixed Income department of Shell Asset Management Company BV (SAMCo) in Rijswijk. The Portfolio Manager will be part of the Government Credit team and primarily focus on a number of liability hedge and (semi-) passive portfolios. Shell Asset Management Company (SAMCo) provides investment advice and investment management services to Royal Dutch Shell companies and their associated pension funds worldwide. Currently managing over EUR 35 billion in assets, it is a mid-sized fund manager investing in equities, fixed income and alternative investments globally. SAMCo operates relatively independently from the Shell Group, supporting its own investment, risk, treasury, settlement and reporting operations. The Fixed Income department manages more than EUR 18 billion in assets on behalf of our clients. This is spread over Developed and Emerging Market Government Bonds (EUR 12 bln) and Investment Grade and High Yield Corporate Credit (EUR 6 bln). Most of the assets are managed through segregated accounts, but the department also manages three funds, which have a total value of more than EUR 1.5 bln. The department has also appointed mandates to a number of external asset managers. Next to assets the department also manages derivative overlay positions.
Job Description
Position responsibilities
Including the team lead of the Government Credit team, the team currently consists of five portfolio managers. The Portfolio Manager will frequently interact with the other team members, the team lead, as well as with members of other investment departments. The team manages a broad range of portfolios including liability hedge portfolios, global developed markets government bonds and EM external and local currency debt.
The Portfolio Manager will, together with one or more Senior Portfolio Managers, focus on liability hedge and (semi-) passive portfolios.
The responsibilities include:
The daily management of (semi-) passive and liability hedge portfolios, including monthly rebalancing, portfolio transitions and regular maintenance, taking into account the performance targets and risk profile of client mandates. The portfolio manager is expected to add significant value by influencing actual management of these portfolios (around EUR 10.5 bln worth of exposures)
- Develop, propose and execute further improvements in the investment process of passive management.
- Contribute to the future improvement of the active investment policies the team pursues by developing and proposing new strategies.
- Acting as a backup for other team members.
- Maintaining and extending the current network of contacts, which includes representatives of banks and brokers, senior management representatives of sovereign issues and global clients.
- IT-related projects relevant to the team.
- The team manages around EUR 6.5 billion of assets in active portfolios and over 10.5 billion in liability hedging and (semi) passive portfolios.
Position requirements
With a master’s degree, preferably in economics or econometrics, you have at least two years of working experience in portfolio management, fixed income trading or a related area. You have relevant knowledge of various fixed income instruments. A good understanding of macro economics is preferred. Ideally you also hold a CFA or VBA certification or are in the process of achieving this.
You have strong analytical and problem-solving skills and the ability to work independently within the context of the Government Credit team. As a good communicator with a creative and collaborative style and strong presentation skills, you’ll be effective at building relationships, and at influencing and negotiating in a challenging environment. Being a dedicated team player, you will have the ability to engage and work with people from other disciplines as well as the experience of working in high performance teams.
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