BB asset management firms sell-side or buy-side?
Can someone elaborate on BB asset management firms? For example, JPM manages money for institutional clients. So are they considered buy-side or sell-side? Do undergrads have an opportunity to work as an intern for the fund management or only in sell-side equity research?
These firms are buyside. There is practically no difference between JP Morgan Asset Management or GSAM and BlackRock other than that JP and GSAM happened to be attached to large banks. They are managing money for clients and have plenty of fund management/portfolio management jobs.
Thanks. As a follow up to that, do these banks also provide sell-side equity research services? If so, how do the two divisions interact?
Yes banks wil have an equity research division which is considered sell side. They sell their research to broker dealers, buy side firms, etc.. GSAM or JPMAM will have in house Equity Research Analysts who perform research as well for the PMs and that research is not public or available for purchase. GSAM can also use the research that sell side puts out if they choose.
What are you in AM? Buyside or Sellside (Originally Posted: 10/15/2011)
Throughout the forum each specific area is very clear what each one does and the career path of each, but when I see the word 'Asset Management' there is a whole world in asset management and each path is not so clear.
So as a matter of clearing up and sorting out the noise how many of you here in that follow the Asset Management Powow what are you working at?
A. Analyst at a Mutual Fund Co. (Stock, Debt Picking) B. Analyst of a Asset/Wealth Management Firm (Selecting Mutual Funds assisting Sales) C. Financial Consultants (managing customers assests i.e. Sales) D. Something else (Please specifiy)
AM/PE is all in the category of buy-side. In AM you buy things, trade pre-existing instruments
Sell-side is the type of thing you see investment banks do. They create the instruments. For example when a firm goes IPO the investment bank values it, creates the stocks and sells them to people on the buy-side (like AM) Investment banks are also involved in providing advice for companies who are doing mergers, acquisitions, etc. but do not actually invest their own capital or buy anything.
For more info:
//www.wallstreetoasis.com/what-is-the-buy-side
//www.wallstreetoasis.com/what-is-the-sell-side
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