Fixed Income Graduate Programme 2022 - Hong Kong

Fidelity International
Hong Kong, Hong Kong
Oct 19, 2021
Nov 15, 2021
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
About Fixed Income

Fidelity International (FIL) has been managing fixed income funds since 1982 and has a long established presence in Asia (since before 2000). FIL has invested consistently and significantly to support the growth of its fixed income franchise globally, and with this long standing commitment has developed a market-leading presence in Asia. This investment is set to continue, including in China which has been identified as a strategic focus for the firm.

The fixed income investment team manages money for investors across the globe and across investment strategies from money market to high yield and total return funds. As of June 2021, fixed income assets under management were US$108.7 billion, or about 24% of FIL's overall AUMs. With 136 fixed income professionals based in London, Hong Kong, Shanghai and Tokyo, the team comprises expertise in portfolio management, trading, credit and quantitative research, product management and investment services. Fidelity places a great deal of emphasis on developing best-in-class proprietary research, trading insight and execution, and we have substantial expertise and resources at our disposal.

Its investment philosophy includes:

* A belief that investors must look beyond traditional sources of alpha

* A team-based strategy that combines distinct disciplines to consistently identify a wide range of investment ideas with the highest probability of success

* A commitment to proprietary research that provides enough ideas to build diversified portfolios

* A quantitative team that is integral to identifying alpha and providing rigorous risk analysis

Purpose of your role

The length of the programme is two years, and during that time the Fixed Income Investment Graduate will be able to rotate between the Credit Research, Quantitative Research, Trading and Product departments to develop a detailed, end to end understanding of the FI investment process. There is no set length of time per rotation some might be longer than others, therefore the programme can be tailored towards the needs of the business as well as the strengths of the Graduate, although over the two years you will have the opportunity to spend a minimum of 6 months within each team with one of the rotation possibly be in our Hong Kong or London office.

We will prepare you to sit in Chartered Financial Analyst (CFA) Level 1 exam during your graduate programme.

Key Responsibilities

Credit Research

Credit Research Associates typically work with two credit analysts, mostly in a support function. The Associate is an important part of the team and can expect a certain degree of hands-on involvement from the start.
  • Preparing financial analysis and reports and providing other support work for analysts as they formulate investment ideas for the Funds.
  • To develop strong financial modelling skills.
  • Be aware of the current Anti-Money Laundering requirements as they affect the business.
  • To be familiar with and adhere to the requirements of Fidelity's code of ethics.

Quantitative Research

Fixed Income Quantitative Research works closely with Portfolio Management, Trading and Credit Research. The team is responsible for generating trade ideas, contract sensitivity generation, risk measurement and the development of portfolio construction tools. All members of the team regularly interact with the other groups in the Fixed Income division and Investment Management Systems support.
  • Research into and development of relative value models to suggest trades for implementation in the fixed income portfolios.
  • Research into and development of models to measure risk and exposure in the fixed income portfolios.
  • Research into and development of portfolio construction techniques.
  • Be aware of the current Anti-Money Laundering requirements as they affect the business.
  • To be familiar with and adhere to the requirements of Fidelity's code of ethics.


Learn, understand and execute trade support functions and procedures; learn and understand how to facilitate trade

related information and interpret desk policies as they relate to operational compliance and best practice requirements;

generate suggestions for improvements within the group; manage all activities with absolute care and attention.

  • Work with team members and support groups to resolve trade problems, allocations or settlement issues in accordance with Fidelity's policies and procedures.
  • Use all available trading and market information systems to efficiently provide quick information for resolution of trade problems and settlement issues.
  • Proactively identify, research and correct pre and post trade problems resulting from daily trading activity of any international trades.
  • Learn how to utilise Bloomberg and Point of Trade (POT)

Desk Compliance
  • Learn internal compliance requirements and procedures as they relate to desk activity.
  • Learn to understand and interpret daily compliance reporting.
  • Overview a number of trading reports.

Broker Relationship
  • Support traders by facilitating communication between brokers and traders in relaying messages and answering phone calls.

Portfolio Management
  • Support traders in effectively communicating with Portfolio Managers.
  • Resolve Portfolio Manager queries with regards to holdings, pricing, valuations, cash etc.

Team Performance
  • Work as a member of the trading team.
  • Provide assistance to all members of the trading team and prioritise and manage expectations where there are conflicting requirements or demands on your time.

Trade Execution
  • Support traders in accurate receipt, entry and checking of Portfolio Manager orders in the trading system.
  • Support traders in booking trade executions/inter funds.
  • Learn how to source, understand and apply relevant information from internal and external sources to resolve trade queries.

  • Assist traders in determining proposed trades in response to Portfolio Manager order instructions.
  • Provide general daily support to fixed income traders.
  • Work with and suggest improvements to current trading and operational procedures.


This function includes the strategic design and maintenance of our range of product offerings, regular representation of the existing funds and their portfolio managers in both written and oral form, and development of tactical marketing strategies that help our sales teams position our funds appropriately.

Learn about how to develop the commercial aspects of the fixed income product range by:
  • Offering comprehensive and outstanding reporting on fixed income funds.
  • By promoting and creating new products to meet investors' demands.
  • Generating marketing material to support sales activity.
  • It will increase your knowledge of the market structure.
  • It will help you to gain a deep and permanent knowledge of portfolio strategies and a capacity to communicate these in different formats.
  • Also you will have the opportunity to support the sales team through direct client relationship when necessary.

Experience and Qualifications Required
  • Final year student of Bachelor or Master's degree in university (Class of 2022)
  • Strong numerical skills
  • Excellent communication and interpersonal skills
  • Ability to multi-task and maintain close attention to details under pressure
  • Creative, excellent organisation, judgment and problem solving skills
  • Strong team player and enthusiasm to learn

How to Apply

Please submit your CV and cover letter through this QR code below or by Sunday, 14 November 2021. In your application, please state your reasons for applying to Fidelity International and our Fixed Income Investment Graduate Programme.

For any enquiries in Asia Pacific, you can email us at

We are committed to being an inclusive and diverse company to work for and strive to create a culture where flexible working is encouraged so that we retain and attract the best talent by offering working patterns that suit both individual and business needs.

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