Multi-Asset Class Solutions

isic's picture
Rank: Senior Baboon | 211

So I received a job offer in this department/group. So they should either form a component of AM or PWM.

From what I know, its similar to portfolio/fund management but since I have almost nada/zero experience to be a junior/assistant fund manager, what could be the possible job function? I'm quite sure there are specific teams in this group, like the Ops, the fund mgrs etc.. Been trying to find out from them but to no avail..

Anyone have any idea or related experience?

Comments (2)

Dec 31, 2009

If you're a first year analyst within AM/PWM, you're going to be getting coffee and lunch for a few months. You may also get to program a bit in VBA to make some of your tasks easier.

I would imagine you are going to help in calculating fund performance (probably on an account level) and making powerpoint presentations and pitch books.

Over time, you may get a chance to sit on a trading desk to learn about about buy-side execution and to build relationships with salesmen at banks. You will also probably spend some time learning the operations aspect of the business. Everyone seems to want to run money, but it's pretty important to learn how transactions actually get settled.

After learning the systems, the operations, the benchmarks used, and the trading platforms, if you've gained the respect of the people you're working with, you may get the chance to run money as a junior/assistant PM (2-3 years into the job). From there, if you do well and establish a record of strong returns, you can expect to be given your own funds to run.

The company is going to want to introduce you to its investors over a period of time before telling them, "Here is this newbie who is going to be managing your cash." Clearly, that sales pitch wouldn't work well. If, though, you've been around for a little while, learned a bit, and (most importantly) had a chance to meet some of the clients, the transition will be much more natural.

Therefore, you're going to want to make sure you get to attend client meetings. Even if you only sit there attempting to remain awake, you're still going to become recognizable to the people on the other side of the table. In this way, you have a natural transition from the sort of back/middle office functions of a 1st year analyst in the AM world to the front office PM role you're really looking to get.

And multi asset strategies is a pretty good group to start in regardless of the firm since you'll get exposure to a range of products. This will allow you to avoid specialization and make you attractive to a host of firms with different investment strategies.

Jan 4, 2010