Associate Portfolio Manager, Multi-Asset, Target Allocation
PRIMARY PURPOSE OF THE POSITION
This Associate Portfolio Manager (APM) works with the Multi-Asset (MA) Target Allocation portfolio managers across multiple aspects of portfolio management and strategy support. The candidate would partner with Portfolio Managers on research associated with existing strategies as well as the expected growth in multi-asset model portfolios and customized multi-asset solutions. This position will also facilitate the development of Asset Allocation Committee related fundamental and quantitative analysis and higher-level investment information content. Additionally, they will collaborate with other Multi-Asset colleagues (Quantitative Investment Analysts, Solutions Strategist, Product, Risk Team, Allocation Analysts, Portfolio Analyst, etc.), as well as investment staff and members of distribution teams across the organization in the execution of research projects.
KEY AREAS OF FOCUS FOR THE ROLE:
- Portfolio construction related to target allocation strategies, custom mandates and model portfolios
- Due diligence for proprietary and external investment strategies
- Analysis and research into alternatives, non-proprietary investment strategies
- Fundamental and quantitative analysis in support of tactical decisions
- Capital markets views and Asset Allocation Committee (AAC) communications related to portfolio positioning and drivers of performance
1. Portfolio Management
- Provide support to Portfolio Managers for MA Target Allocation portfolios, separate accounts and model portfolios (~40 accounts/$40 billion AUM)
- Liaise with internal stakeholders and participate in firm-wide efforts involving multi-asset topics
- Provide analytical support in developing and enhancing current and prospective multi-asset portfolios
- Coordinate with risk team in developing and interpreting risk analysis
- Lead portfolio construction research and analysis for custom multi-asset mandates and model portfolios
- Cultivate ongoing understanding of financial markets, instruments, and T. Rowe Price funds/strategies along with associated implications for MA portfolios
- Keep abreast of industry trends in the areas of asset allocation and quantitative financial techniques
- Build close partnerships with key internal staff, most notably quantitative team members across MA, Equities, Fixed Income and Risk
- Conceptualize and execute custom research/analysis for client portfolio requests in close coordination with MA quantitative research, solutions, and investment analysts
- Execute operational duties, such as ongoing generation and maintenance of related investment reports, data sets, or analytical infrastructure
2. Investment Strategy Research and Due Diligence
- Coordinate research and analysis into alternative investment strategies
- Coordinate with MA quantitative research analyst in structuring research projects
- Develop/oversee due diligence processes for internal and externally managed investment strategies
- Develop quantitative and qualitative review and evaluation processes for due diligence
3. Tactical Asset Allocation Analysis
- Complete research projects on special topics for the AAC, including fundamental, quantitative, and statistical analysis of asset classes
- Develop and coordinate analysis for weekly MA Investment Strategy meeting
- Synthesize and summarize investment research from internal and external resources
- Maintain strong understanding of key market themes and associated viewpoints and analysis from both internal and external sources
4. Client Communications and Presentations
- Support the servicing of relationships via close interaction with a wide range of T. Rowe Price staff, including portfolio managers, portfolio analysts, relationship associates, operations staff, and other staff responsible for producing and delivering content to internal and external audiences
- Attend investment meetings, read research reports, utilize information services, etc. to maintain a knowledge base required to successfully represent the capabilities of T. Rowe Price and Multi-Asset
- Synthesize analysis for discussion with clients supporting strategic portfolio enhancements and innovations representing MA’s best practices (e.g., introduction of Real Assets equities, managed volatility, case for alternative strategies, fixed income enhancements)
- Develop communications supporting funds, client portfolios, due diligence reporting, RFP responses, and bespoke client inquiries
- Engage with internal stakeholders and external markets representing MA products and views, including meetings (clients, prospects, consultants, etc.) and presentations (seminars, webinars, etc.)
- MBA or Master’s degree in finance, economics, accounting, mathematics or a related quantitative field.
- 5+ years of experience in the financial services/asset management industry; ideally with experience in or related to multi-asset portfolio management, fundamental and/or quantitative investment research.
- Experience with asset allocation products, portfolio construction and related concepts.
- Experience in manager due diligence, open architecture and oversight of traditional and alternative investment strategies.
- Experience with database tools and risk analytics. (e.g. MSCI/Barra, PORT)
- Client facing experience. Strong presentations and writing skills.
- Completion of or progress towards CFA or comparable designation or a commitment to obtain the CFA charter in the future.
- Strong collaboration skills.
- A self-starter with strong analytical/communication skills, ability to “own” initiatives and work in a dynamic environment.
- BA/BS degree in finance or related field, with strong credentials and relevant financial services work experience.
- Strong analytical and problem-solving skills.
- Excellent communication and inter-personal skills with the ability to excel in a dynamic and interactive team environment.
- Ability to work independently as well as a part of a team.