Associate Portfolio Manager, Global Thematic
FINDING THE RIGHT FIT
While the posting is for an Associate Portfolio Manager, we will consider candidates with between 3 to 10+ years of experience and adjust the position level as appropriate. We offer this flexibility because we care more about fit than parameter. In all candidates we are looking for passion, intellectual curiosity, and a team-oriented mentality. Beyond this, we are looking for a balance between previous fundamental research experience, as well as a demonstrated ability to think outside the box and be resourceful. This also means we encourage people to apply with less traditional finance backgrounds, including those with previous management consultancy experience.
The Public Markets department manages a portfolio of fixed income and equity investments representing approximately $125 billion utilizing both index and active management strategies. The department invests in Canada, the U.S., and Internationally in both the developed and emerging markets. Assets are managed using both internal and external managers. The department uses a diverse mix of financial instruments including bonds, equities, and derivatives. In addition, the department is a leader in Responsible Investing actively integrating environmental, social and governance factors into our investment analysis and decision-making.
The Global Thematic Portfolio is an approximately $6 billion concentrated long-only public equities portfolio investing in leading companies that will disproportionately benefit from long-term social, technological, economic, political and sustainability trends.
Our world class seven-person team makes investment decisions using a blend of top-down and bottom-up fundamental research. Themes and related value chains are researched for desirable attributes, while individual investments are made using fundamental analysis leveraging our Theme knowledge.
The portfolio is style, sector, geography, and market capitalization agnostic. Also, as a long-term oriented program, the actively managed portfolio has relatively low turnover and is primarily measured on a rolling five-year basis against the MSCI World Ex-Canada Index.
Reporting to the Managing Director, the Associate Portfolio Manager (APM) utilizes out-of-the-box thinking to build theses around themes that benefit from long term macro trends. The APM then builds unique investment theses on companies that should outperform as the themes plays out. High conviction companies are reflected in the portfolio through a set of concentrated investments.
The APM can assess multiple sectors and industries around the world. Consideration will be made to candidates with a wide range of previous experience, although existing knowledge and analytical experience looking at Healthcare and / or Financials would be an asset.
The APM thrives a dynamic team environment. She or he actively collaborates with their Global Thematic colleagues to maximize the overall performance of the portfolio through actively debating and challenging ideas, sharing knowledge and resources, and embracing an openness to new ideas and perspectives from all team members. The APM also mentors and helps develop less experienced team members.
The APM is resourceful by proactively building and maintaining an extensive network of industry experts to deepen knowledge and challenge incumbent beliefs in the service of making sound long-term investment decisions. He or she builds collaborative relationships with other teams at BCI, inclusive of relationships with other asset classes, to maximize the dissemination of thematic opportunities across BCI. The APM is also responsible for establishing and nurturing relationships with current and prospective management teams.
Being an APM on the Global Thematic team requires a unique skillset. It requires the ability to think outside the box and create structure from undeveloped thematic hypotheses. It also requires strong fundamental valuation and communication skills.
- Minimum of 5 years of experience in global investment management, consulting, corporate finance, investment banking or related fields is preferred. Applicants with less than 5 years of experience may be considered at a reduced level
- Relevant degree and/or CFA is preferred
- Strong knowledge of global industrial and business services stocks, or other relevant value chains, as well as global economic drivers
- Strong research, financial modelling, analytical and valuation skills
- Excellent communication skills, both written and verbal
- Strong interpersonal skills and a history of working successfully in team environments
- Eager, strong work ethic, and desire to learn
- High ethical standards
- Research and develop global themes based on long-term macro trends
- Conduct intensive fundamental analysis with focus on the drivers behind long-term valuation and scenario-based risk analysis
- Perform primary research, develop a network of industry contacts, visit companies, attend trade shows, etc.
- Develop and maintain relationships with research contacts, management teams, and other stakeholders
- Source, select and manage concentrated public equity positions that fit investment themes and can outperform global markets over the long-term
- Contribute to team performance through collaboration with other team members. This includes developing a base knowledge of other team members’ portfolio holdings and themes to contribute insights and research
- Work on various ongoing projects that build and improve on a common core of research for portfolio stocks
- Help mentor and develop less experienced team members
- Perform duties as directed by the Managing Director
- Assist with the day-to-day management of the portfolio including and not limited to, responding to corporate actions, daily cash management, and implementing stock and FX trades
- Embrace and demonstrate high ethical standards
Effective performers understand that a primary factor in success is establishing and maintaining productive relationships. They devote appropriate time and energy to establishing and maintaining networks. They initiate contacts readily and maintain them over time. They are able to capitalize on relationships to facilitate business transactions.
Effective performers recognize the essential value of continuous information exchange and the competitive advantage it brings. They actively seek information from a variety of sources and disseminate it in various ways.
Effective performers have strong analytical skills; they are able to provide well thought out recommendations based on a rigorous process of collecting, organizing and analyzing data. As timelines can often be short or uncertain, analysis must be done in a timely manner, balancing the need for detail and requirement for action.
Effective performers apply knowledge of securities analysis and portfolio management to identify and act upon attractive investment opportunities taking into account risk and return potential.
Effective performers are proactive and take action without being prompted. They don’t wait to be told what to do or when to do it. They see a need, take responsibility, and act on it. They have a strong results orientation and make things happen.
WHY WORK AT BCI?
BCI is one of Canada’s Top 100 Employers and has built programs and benefits to support our employees. As an employee of BCI you will have access to benefits such as:
- Extended health and dental coverage
- 20 days’ vacation per year
- Participation in our defined benefit pension plan
- 1 day paid for volunteering
- Various wellness benefits
- World class learning and development programs
BCI is happy to confirm that we have returned to our offices as of Monday, April 4, 2022. We are piloting a hybrid program whereby a majority of employees may work from home up to two days per week. Please note that some positions are not eligible for hybrid work.
This role is in our Victoria-based office. We offer relocation support for the selected candidate.
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