Portfolio Manager- Direct Indexing

Chicago, Illinois
Jan 19, 2022
Feb 18, 2022
Employment Type
Full Time

The Group

The Morningstar Investment Management group (MIM) is a global team guided by Morningstar’s investment principles to deliver great long-term investment results and help investors reach their financial goals. We use our expertise in asset allocation, investment selection, and portfolio construction to create world-class investment strategies built on Morningstar’s research. The group specializes in multi-asset investing, using building blocks in equities, fixed income, and alternative investments to construct robust portfolios. Through our investment offerings, we support financial advisors, institutions, and the investors they serve.

The Role

The Investment Management group requires an experienced portfolio manager to lead our efforts in direct indexing. This position will help develop direct indexing solutions and will provide ongoing portfolio management, implementation, and monitoring. Specific responsibilities will include mandate development, advisor and client engagement, portfolio optimization, tax management, trade review, risk management, and performance analysis. The portfolio manager will work closely with our trade and operations team and will collaborate with product, marketing, and sales teams to communicate effectively with clients to drive product adoption. In addition, the portfolio manager will act as an industry thought leader in direct indexing through commentary and presentations at due diligence events and industry conferences. This role will be based in our Chicago office.

Job Responsibilities

  • Contribute to development of direct indexing solutions
  • Manage, implement, and monitor direct index portfolios
  • Optimize direct index equity portfolios for tax alpha
  • Coordinate with trades & operations and a dedicated investment analyst to support model and client-level trades and transactions
  • Consult with financial advisors and their clients to create customized direct indexing solutions
  • Act as subject matter expert to internal and external audiences via quarterly reporting, white papers, webinars, road shows, and conference presentations
  • Support product, marketing, sales, trading, and operation functions as needed to ensure seamless execution and effective communication
  • Lead and contribute to the global best practice methodologies and investment working groups
  • Participate in investment team meetings, including the Americas Investment Policy Committee


  • Undergraduate Bachelor’s degree required, Graduate degree education preferred, particularly an MBA or CFA designation
  • 7+ years of hands-on investment experience
  • Experience managing and implementing equity direct index portfolios, equity index optimization strategies, or other quantitative equity strategies
  • Experience generating tax efficiency and a proven track record of tax alpha
  • Demonstrated ability to consider holistic portfolio construction and long-term client outcomes
  • Client-centric and engaging, able to interact easily with financial advisors and their clients
  • Strong communication skills, both written and verbal
  • Excellent interpersonal skills, team-player
  • Excellent critical thinking skills
  • Familiarity with equity index replication, including equity index construction methodology and optimization
  • Familiarity with a range of quantitative tools and research platforms
  • Familiarity with portfolio optimizers and related tools – (MIM) will utilize Axioma as the main optimization tool for direct indexing

Morningstar employees are required to be fully vaccinated or submit to regular testing to work in any office. Morningstar’s vaccine policy may be modified to comply with evolving legal requirements and other changing circumstances.


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