Manager Research Analyst recruitment

The emphasis of this role is on investment/portfolio analysis.  The position supports investment manager research in respect of allocated asset classes.  Measures of success in this role will be: attention to detail and accuracy, timeliness of deliverables, a forensic focus on portfolios and individual securities and the ongoing contribution of ideas in relation to the development of the tools used in the analytical process.  The Investment Analyst will have a strong understanding of fundamental analysis and an understanding of investment styles, their nuances and how they mix in a multi-manager package.

WORKING RELATIONSHIPS WITH OTHER POSITIONS:

The primary internal client of this role is the Head of Manager Research; secondary clients are the asset class research analysts.  It is expected that this position will interface with the Head of Manager Monitoring with respect to projects of joint interest/importance.  The Investment Analyst will supervise Graduate Trainees, including assisting in their training and mentoring.

SPECIFIC RESPONSIBILITIES AND EXPECTATIONS:

•        Provide analytical support to the manager research process – this will include gathering qualitative and quantitative information, performing detailed portfolio analysis of sample/model portfolios and assessing their consistency with the manager’s espoused investment approach, preparing and presenting investment analytics/meeting papers prior to manager research meetings, attending and recording manager research meetings (subject to location), etc.

•        Acquire a thorough understanding of investment managers' investment disciplines and their expected portfolio characteristics and investment activities.

•        Assess whether the characteristics of, and activity within, the investment portfolios are consistent with the managers' espoused investment disciplines and be able to identify any inconsistencies.

•        Analyse multi-manager investment packages, including fundamental characteristics of aggregate portfolio, tracking error, commonality of aggregate portfolio with benchmark index, and overlap between underlying portfolios.

•     Contribute to the continuous effort to evolve and improve analytical processes.

•        Assessment of stock and portfolio fundamental characteristics.

•        Critique of trading activity and portfolio turnover.

•        Assessment of portfolio risk (relative, absolute, tracking error etc.

•        Assess the degree of conviction/active exposures within the portfolio.

•        Analysis of historic investment results.

•        Detailed performance attribution including following/recording news flow of portfolio holdings.

•        Supervision of the Graduate Trainee, in relation to the allocation of work, assessing training needs and providing relevant feedback to the Head of Manager Research on matters such as performance and discipline.

General

The individual occupying this role will be self-motivated, able to work under pressure and conscious of the timing of deliverables.  They will be highly numerate and be a good spoken and written communicator, as well as having a flexible attitude to their working hours as the demands require from time to time.  They will perform their duties in an efficient and competent manner.  They will be expected to contribute ideas and create input in the enhancement of systems and processes in their role. They will be alert to the compliance implications of their duties.  They will assist the Management Team, Investment Committee, investment Team members and the Board as necessary to ensure that the companies interests are met.

Person Specification

Qualifications:

• Educational background in investments and/or finance (CFA Level II qualification is a pre-requisite), with a fundamental knowledge of portfolio theory, finance and security analysis;

• Previous investment experience in a fund management, investment bank or investment consultancy would be a clear advantage;

• Previous multi-manager experience would be a plus

Skills:

• Accuracy, attention to detail and ‘forensic’ focus on portfolios and securities represent an important prerequisite for this role;

• Excellent literacy and writing skills are required;

• Strong understanding of fundamental investment ratios/statistics/analytics e.g. P/E, P/B, ROE, liquidity analysis

• An understanding of investment styles, their nuances and how they mix in a multi-manager package would be a plus

• Working experience of Wilshire and Bloomberg would be preferable;

• High degree of computer literacy – advanced Excel skills;