Investment Analyst - Manager Monitoring
To determine whether a manager has veered from their investment style or the manager's corporate entity has changed for any reason. The individual occupying this role assumes special responsibility if they uncover a change in the manager's style and highlights potential problems before they become actual ones. The individual should assist the client consulting team/asset class team whenever consideration is given to the relative merits of an incumbent manager against a replacement manager.
- Educational background in investments and/or finance (CFA qualification would be an advantage), with knowledge of security analysis, equity related instruments and portfolio theory/performance attribution;
- Minimum 3 years' experience in a related role is a requirement;
- Previous investment experience in a fund management organization, investment bank or experience as an Equity Analyst would be a clear advantage;
- Working experience in fundamental company analysis would be a plus in light of my clients philosophical preference for fundamentally-driven managers
- Day to day responsibility for monitoring designated asset classes / investment managers. Undertaking detailed analysis of portfolios for the purposes of supporting the team's understanding and interpretation of the manager's investment decision making process. This will include fundamental analysis relating to the key characteristics of the individual portfolios as well as how they can combine as part of the multi-manager packages.
- Acquiring a thorough understanding of investment managers' investment disciplines and their expected portfolio characteristics and investment activities, employing an evidence-based approach throughout.
- Assessing 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.
- Identifying, summarising and presenting the key investment issues for discussion at regular manager monitoring meetings based on the underlying portfolio analysis. Attendance at and recording such meetings. Following a disciplined sequence in relation to such meeting i.e. agenda, pre-meetings, post-meeting de-briefs, meeting notes and action points.
- Analysing multi-manager investment packages, including fundamental characteristics of aggregate portfolio. Liaising with managers and uploading data into applications and proprietary tools as necessary.
- Contributing to the continuous effort to evolve and improve the analytical processes.
- Compiling investment commentaries for the designated asset classes/investment managers for inclusion in regular investment reports, discussing the key issues arising from analysis of the underlying investments and the manager's portfolio activities.
- An assessment of portfolio risk (relative, absolute, tracking error etc.) Assess the degree of conviction/active exposures within the portfolio. Analysis of historic investment results including detailed performance attribution and also by following/recording news flow on portfolio holdings.
- Organising meetings with investment managers on the basis agreed with the Head of Investment Manager Monitoring.
- Acquiring an awareness of personnel and corporate changes and their likely impact on portfolio management activities
- When agreed between the Head of Manager Research and the Head of Investment Manager Monitoring, provide analytical support to the manager research process within certain managers/ asset classes - 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.
- Assisting in other duties as may be reasonably required from time to time.
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 required 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 interests are met.
- Accuracy, attention to detail and ‘forensic' focus on portfolios and securities represent an important prerequisite for this role
- Ability to form evidence-based conclusions (on investment strategies and listed stock investment case studies).
- Excellent literacy and writing skills are required;
- Strong understanding of fundamental investment ratios/statistics/analytics e.g. P/E, P/B, ROE, DCF, 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 Factset and Bloomberg would be preferable.
- High degree of computer literacy, and strong Excel skills
- Self-motivated, able to work independently and use initiative;
- Flexible attitude and adaptable in day-to-day activities;
- Excellent communication and interpersonal skills to work effectively in a small team environment;
- Eligible to work in the UK.