Execution Trader to Portfolio Manager?

I know many portfolio managers that started as ET's

NYCinvSo obviously for many analysts the long term path is PM, but what about traders? I've been an execution trader at a HF for 1-2 years, wondering what long term prospects are possible/probable. I'm pursuing CFA as well and figure that years of first hand market knowledge coupled with CFA designation should be enough to at least break in at high level analyst or PM assistant type role later.

Is this unheard of? Are there a lot of PM's who started as traders (if so only prop or execution too)? Would I have to first get CFA and MBA at a top BS to make the shift worth it without starting at bottom?

Any thoughts or advice is much appreciated. I know some people maintain ET is just a blackhole and I should start all over again at entry level if I want to do anything else. Hoping (some may say refusing to believe) that's not the case, surely knowing the markets inside and out is worth something.

Mind me asking what does an ET actually do? I think I have a pretty good understanding, but it's still a bit of a grey area for me. Which sort of firms can have ETs in addition to asset managers and hedge funds?

Mutual funds can have Execution traders although they don't make much and the job is a lot different although similar. Execution trading can mean a lot of things, working at a hedge fund as an execution trader can lead to the PM path. I would recommend going for the CAIA before the CFA if you want to work as a PM for a hedge fund. CAIA is easier to obtain, requires less time, and is more relevant before the CFA. If you have both the CAIA and CFA and you've been working as an execution trader at a hedge fund, you'd have a really really good shot at becoming a PM.