Should I make the move to a multi-manager platform?Subscribe
I have graduated from college for 4 years and am working in a financial center in Asia (think Hong Kong/Singapore/Tokyo). Currently I am an equity research analyst in a fairly large Asian asset manager (>US$1bn, quite large in the context of Asian homegrown managers) and I have been with this firm for around 1.5 years. The philosophy is concentrated, very long term, quality and growth focused. The founder admires the philosophy of Buffett and Sequoia Fund very much so we have a very strong culture about this philosophy in the firm. I just got an offer from a multi-manager platform (those usual ones), covering the same region and sector I am covering (and I enjoy covering these).
I am not sure if I should move over. Below are my analysis:
Pros of moving
1. Better brand name. My current one is fairly reputable in Asia, but yeah, those platforms have even better brand
2. Better comp, my current firm has L/S strategy but the majority of AUM is in long-only. Comp is decent but not that great.
3. Definitely faster progression. My firm is all about promoting from within, but the process is definitely much slower than platforms.
4. The pod I got offer from is among the better pods in that office.
Cons of moving
1. Mismatch in philosophy. I am a true believer in the philosophy of my current firm and I enjoy working here very much. The pod, despite also fundamental-focused, is much more short term and trading oriented (as with all the platforms out there).
2. The nurturing/training part will be much worse. My current fund is very willing to nurture young people, the founder is very patient and the AUM base is among the most stable within Asian managers. We have a lot of chance and time to learn from different PMs. We are multi-manager also (but not the platform type) and most managers are fairly successful in the strategies they run. I cannot imagine such nurturing scene in a platform.
I feel like moving to the platform is more for short term benefit (the prestige, comp and progression) but I may be underestimating the difficulty and stress working in those platforms. In the long run, I would still like to go back to the type of funds I am working in, just not sure if it would be better to get a better brand under belt first and try to make a faster progression in a platform would help.
Any input will be much appreciated. Thanks.