Hi I've been an excel/powerpoint monkey (in an emerging market) for a couple of years (and internships) but I feel dumb and bored. I want to move to a more quantitative position in the buyside. I come from an engineering background and I have good knowledge of stats/econometrics and a rather basic knowledge of stochastic calculus and programming (Java, VBA, SQL).
I'd like to move to a position related to asset allocation with a macro perspective with some semi-quant requirements (doing some macros and maybe programming some stuff on matlab).
However most positions I've seen are very qualitative (very much like ib) or extremely quantitative (they ask for PhD in physics or related fields).
Is there a position in the middle that can lead to a portfolio management job? And if there is, in what kind of funds or desks can i find them? I've thought about global macro funds but the people i know who work in them have mostly PhDs... I feel i'm stuck with this stupid ibd position... and MM to make it worse...
Right now i'm working on the CFA and looking at finance and investment programs in UK universities...
Some funds have groups which are in between the physics phd quants and gut traders. They want someone with a quant background but also a understanding of how things work in the realworld that has a bit more imagination on where to look to find alpha instead of just creating models. These groups look at tons of data, look for new data sources and basically do engineering type research by creating a hypothesis and test it on collected data.
Unfortunately finding any information about the groups at a quant fund is difficult as they never post what they do online so the best hope is to know someone working at one. A way to break into a fund is via programming which not always requires a phd, learn what you need and take advantage of internal recruiting.
Are you based in the UK currently? What are some funds there? I know of Winton and Man. Interested in working in the UK but based in the US.
Hi, thx for your reply. I'm not based in the UK currently but I've heard many Global Macro funds are based in the UK to take advantage of the time zone.
Take a look at the global multi-asset management groups within the asset management firms (Blackrock, Fidelity, JPMAM, etc.). These groups look at global asset allocation, have the possibility of becoming a portfolio manager within these groups (which don't require the PhD's you speak of), and some responsibilities even involve programming (for instance, creating a program to automatically calculate what are the optimum option strikes and quantities to hedge macro tail risk in your portfolios)
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