Looking for another SM HF seat as I lost faith in the PM - How to explain in the interview without being a douche?
SM HF event-driven equity, mid-to-high hundred $. I'm the lead analyst out of a team of 4and have 6YOE - all at the fund. Since early 2021 we've been underperforming as our portfolio was basically a factor bet, even though some of our team fought to change that but were unsuccessful in convincing PM on that. Now we are well below high watermark. I don't trust the PM anymore as he basically just plays golf all day and has other life priorities - been this way for the past 2 years as he hit out of the park during 2018-2020 and is now super rich. His work pace in the fund has reduced drastically. He's been getting everything wrong - which is ok, it happens. But I feel he is getting more and more arrogant stock-picking-wise - ignoring good calls from our team and taking less feedback. We're not an mgmt fee fund, so we need to perform well to earn good $.
I'm sure I can get many interviews at larger funds with higher job stability. But how can I kindly explain this situation to other funds? I fear I can sound like I'm blaming everything on him and/or being arrogant. Note: I assume I would get good references from him by leaving on good terms. As I have a good relationship with him, I can easily tell him I would leave because I had a better offer and would like a new challenge after 6 years in the fund. I plan to search for the seats by myself (have enough contacts).