I have an interview next week for a position of a trainee portfolio manager. I have been asked to prepare a business plan by this Friday in preparation for the interview. The business plan asks me to focus on “how I plan to grow the business and what value I will bring to the role of Trainee Portfolio Manager.” It’s target length is 2-3 pages. Has anybody on here completed a request such as this for a job before? If so, what advice would you have for me in terms of putting this together? I’m mainly concerned with format primarily and what sort of headings, presentation method I should be completing for it. Any advice gratefully received.
Weird, a portfolio manager’s role is not really to “grow the business”, other than organically via good performance in their primary duties. (The portfolio manager’s main duty is to define an investment strategy, to manage analysts/researchers and traders in implementing that strategy, and to take intelligent risks and execute them efficiently – maximizing return and minimizing variance for a given risk appetite.) Growing the business, i.e. raising capital/increasing AUM, is largely the role of Investor Relations. Are you sure this job is in asset management?
Any position that has anything to do with “growing a business” is a sales position. It has nothing to do with asset management. Maybe you’re interviewing for institutional sales (an external wholesaler position)?
justin88 Wrote: ------------------------------------------------------- > Weird, a portfolio manager’s role is not really to > “grow the business”, other than organically via > good performance in their primary duties. > > (The portfolio manager’s main duty is to define an > investment strategy, to manage > analysts/researchers and traders in implementing > that strategy, and to take intelligent risks and > execute them efficiently – maximizing return and > minimizing variance for a given risk appetite.) > > Growing the business, i.e. raising > capital/increasing AUM, is largely the role of > Investor Relations. > > Are you sure this job is in asset management? What Justin88 said. This job may have the title of trainee portfolio manager, but the way you just described it - and based on the interview format - this PM is looking for a marketing person. Maybe by “grow the business” he means looking for new opportunities for funds? I.e. this is a smid-cap fund, and you come back to him with the idea for a smid-cap international fund? I dunno, can you show us the posting or part of the posting that was advertised?
Or this could just be a small office where people have to do many sorts of jobs. It’s interesting that the guy wants a 2-3 page essay. Does he really want to read all that?
I considered it odd myself, I’ve never been asked to perform this type of duty before. The most concise spec I have for the role is: "The role will involve providing Portfolio Management and Stockbroking support to a Senior Portfolio Manager and to his/ her Discretionary & Advisory clients. It is expected that the successful candidate will become a Portfolio Manager responsible for managing a client base and generating significant sales and revenue. " http://www.goodbody.ie/aboutgoodbody/vac_20110812.html So my reading of the role is that I would initially be brought in to support senior port mgrs duties and observe how they operate. After I can prove that I can fulfil the duties I will become more autonomous. It’s for a private clients division, a part of which is a discretionary portfolio management service (of which this role is applicable) http://www.goodbody.ie/products/discretionary.html It seems to be a mix of broking and port mgmt…be that as it may, my concern is about how to put the actual business plan together.
Sounds like being a salesperson and being asked to find new clients, but trying to attract people by hinting that you will be doing portfolio management. However, for a small private wealth manager targeting mass affluent retail customers, you’d probably have to do some of each anyway.
It could also be asking you to build out the PM infrastructure and do all the support to begin with. I’ve seen that before So tailor it this way: Initiial phase: Work in partnership with PM to create a solid team. Basically do all his/her operational work so he doesn’t have to worry about it. Learn everything during the extensive training they give. Talk about gathering information about all aspects of the firm & job as you would do. 6 months Second phase: Over time, take on more responsibilities particularly in relation to investment methodology and supporting key clients. Provide support to PM and build out suite of analytical & reporting tools (bring in CFA relevant stuff here). 1 year Third phase: Alleviate portfolio managers resps so that either he or you can promote firm efforts to clients. Do client portfolio reviews on behalf of PM/firm. 1 year Fourth phase: More client meetings and support sales. Aim to grow role organically in terms of the business and client growth. 1 year Final phase: Lead, manage and grow own team as appropriate relative to size of buisness and clients. Presume you have a 2.1 as that is listed, so you’ll have no problem fleshing it out. Show you have a plan and are ambitious and you should at least get an interview.
Sorry just read the first line of your post. So you have the interview, well done. Now get cracking!
Thanks for that. That’s very helpful.