Can anyone share with me thoughts about saleman position in hedge fund? Is that similar to any other sales position in sell side or any more requirements? Thanks
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So the term salesman is a little vague, but I think you're referencing being on the investor relations team/investor acquisition team, in which case the role is very different from sell-side banking sales. At a HF your clients are big fund of funds/pensions/high net worth individuals, where your job is to meet with them, brief them on what's happening in their portfolios, and pitch the HF you work at to new investors. At a bank, your clients are asset management firms and hedge funds, where you are pitching to them over the phone investment positions and taking a commission.
So to answer your question, no, the positions are very different.
Thanks for the reply! so that means you have to have a good understanding of the investment porfolios right? Simply good communication is probably good enough? In other words, what kind of skills does a HF salesman need to have?
Yeah, you're primarily communication based. Generally when you go to pitch to a new client it's you + a/the PM of the fund. The PM talks to the potential investors about his philosophy, maybe a case study on an investment he recently worked on, and your job is to discuss with potential investors the fee structure of the fund, how long they would be locking up funds, the investment vehicle and tax structure they want to achieve. So it's a bit scripted and you're not in a particularly technical position. Generally they will let the PM talk about understanding the investment portfolios rather than give that duty to someone who isn't directly involved with the investment process.
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