Hi all, looking at the job description below, do you think someone with no experience in the investment industry, but with a finance background can apply ? In term of profile, what is the good fit for you for this kind of position ? “…contribute to and coordinate the ongoing due diligence, monitoring, governance, oversight and support of alternative investments (including hedge funds, closed-end funds, split corps and flow-through shares). Specific accountabilities include: - Contribute to the active evaluation of the current investment manager approval process/criteria and recommend areas that need modification, enhancement, etc. - Actively participate in all hedge fund and closed-end fund due diligence – organizational, operational and investment management reviews and oversight - Contribute to the platform review of existing managers and mandates on the hedge fund platform - Provide support for all interaction with the Risk Committee - Provide investment advisor support by providing alternative investment recommendations and portfolio construction advice - Contribute to research articles and publications on a regular basis - Participate in education and training activities This role will also require contributions to the Separately Managed Accounts Wrap platform…”
Yes I think its possible.
I imagine that they would like to see candidates with entry level experience in one of those duties. Did they list any required qualifications?
ohai Wrote: ------------------------------------------------------- > I imagine that they would like to see candidates > with entry level experience in one of those > duties. Did they list any required qualifications? Yes, the want CFA L3 candidate (I’m L2), with a degree in Finance or econ. And they added CAIA is preferred. This is not a research position right ? And how much of alternative invest/hedge funds do one needs to master when going for this kind of job ?
It’s definitely a research role. Sounds like a manager research role for an investment consulting shop or FoFs. You could probably land this job with less than a year of work ex.
It’s not a research job, it’s a fund-of-funds job. you pick managers that invest. You’re not actually investing anything or doing security analysis, and instead do overall funds allocation, say 30% of your funds go to Manager A and 20% to Manager B. You may run risk analysis on the overall portfolio to make sure you’re not too heavily concentrated in one area or another. Generally, all that’s really required for this job is a decent understanding of alternatives, different strategies used, a decent general finance background.
lol, finally, research or not research ? That’s the question. I am not looking for a research position, that’s why I really like this job as it sounded to me to be a good way to have my feet in the investment industry. I have a finance degree and a finance background in terms of experience, but nothing related to hedge fund nor investment. I think I’ll apply and see if they call me at least…
Sounds like many of the product managers I work with at various firms. It’s a research position in so far as you’d be doing the preliminary due diligence on alt funds for their SMA platform. You wouldn’t actually be picking the funds for their platform, just gathering info for the decision makers. Entry level…depends on the size of the firm. If this is for a wirehouse or one of the larger independent BDs, it’d be tough to snag this job without some prior experience, but not impossible. Smaller BD, definitely attainable. I work with these guys everyday. Let me know if you have any other questions.
you are researching funds, not securities. Aka you’re building a team of players, not becoming a player yourself.
Chuckrox8 Wrote: ------------------------------------------------------- > It’s definitely a research role. > > Sounds like a manager research role for an > investment consulting shop or FoFs. You could > probably land this job with less than a year of > work ex. 100% agree. You would do meetings calls with current alternative investments/potential managers, create some statistical analysis on past performance, reading there monthly & quarter reports, read there year end audit, keep track on there strategy, holdings, talent, etc. For entry level this would pay 40-50k + 0-10% bonus. For someone with 3-5yrs of exp, CAIA and some level of the CFA I would guess maybe 60-70k + 0-20% bonus and a bit more at a major city (SF, NYC, BOS). Exit oppt would be (descending in terms of pay) FoF, large pension fund, consulting, endowment. EDIT: just noticed the SMA plat - so i’m guessing this is at a BB PWM shop. Not a bad gig but not a great gig, a step up from BO imo and on par with a MO job.
Miss*Yiota Wrote: ------------------------------------------------------- > lol, finally, research or not research ? That’s > the question. I am not looking for a research > position, that’s why I really like this job as it > sounded to me to be a good way to have my feet in > the investment industry. I have a finance degree > and a finance background in terms of experience, > but nothing related to hedge fund nor investment. > I think I’ll apply and see if they call me at > least… Well what is it you ultimately want to do? Because if you are hoping this is a good lead to get into a hedge fund, that’s not the case either
It sounds like you would have to do some research, albeit not securities research. As previously stated, you would be researching funds/managers. I guess the question is: if you don’t want to do “research” then which of the below do you want to do? 1) Sales/Marketing 2) Asset allocation 3) General management 4) IT 5) Accounting 6) Etc…
Sweep the Leg Wrote: ------------------------------------------------------- > Sounds like many of the product managers I work > with at various firms. It’s a research position > in so far as you’d be doing the preliminary due > diligence on alt funds for their SMA platform. > You wouldn’t actually be picking the funds for > their platform, just gathering info for the > decision makers. > > Entry level…depends on the size of the firm. > If this is for a wirehouse or one of the larger > independent BDs, it’d be tough to snag this job > without some prior experience, but not impossible. > Smaller BD, definitely attainable. > > I work with these guys everyday. Let me know if > you have any other questions. Thanks Sweep the Leg. What is exactly by due diligence on funds ? The posting requires: 5 years of progressive experience in the financial services industry Manager research and due diligence experience preferred Strong financial background In depth knowledge of the hedge fund/ closed-end fund industry is preferred When I say I don’t want to do research, I mean “Equity Research”. Based on how you explain it and the requirements of the job, I think for someone like me it might be difficult, but not impossible. Actually I think it will depend on the competition I’m facing, With no practical exp in hedge fund or investmt industry
It’s really not that hard. Here’s exactly how it works. Morgan Stanley fires a large growth manager on one of their managed account platforms and begins a search for a new one. You would run some screens that MS has already built and take the, say, top 10 funds (or SMAs) that make the cut. Then you’d call someone like me and we’d go over our fund, then you’d send me an RFI to complete. After reviewing the RFIs, you would then further reduce the number of funds based on what MS is looking for. Then you and your manager, and me and my PMs get together (generally a conference call to start, then maybe a meeting down the road). Then you write a report and submit it to your boss who, in turn, would present his/her (really your) findings to the investment committee. Then they pick the fund they feel is the best fit. That’s really the “fun” part. Most of your time will be monitoring the funds already on the platform and keeping an eye on the other funds within the sector you cover. You meet with guys like me regularly who constantly try to get you to switch in to one of our funds.
Sweep the Leg Wrote: ------------------------------------------------------- > It’s really not that hard. Here’s exactly how it > works. Morgan Stanley fires a large growth > manager on one of their managed account platforms > and begins a search for a new one. You would run > some screens that MS has already built and take > the, say, top 10 funds (or SMAs) that make the > cut. Then you’d call someone like me and we’d go > over our fund, then you’d send me an RFI to > complete. > > After reviewing the RFIs, you would then further > reduce the number of funds based on what MS is > looking for. Then you and your manager, and me > and my PMs get together (generally a conference > call to start, then maybe a meeting down the > road). Then you write a report and submit it to > your boss who, in turn, would present his/her > (really your) findings to the investment > committee. Then they pick the fund they feel is > the best fit. > > That’s really the “fun” part. Most of your time > will be monitoring the funds already on the > platform and keeping an eye on the other funds > within the sector you cover. You meet with guys > like me regularly who constantly try to get you to > switch in to one of our funds. Hmmm, networking speaking, it looks nice. Now I understand why they are asking for some sales skills as well then. Thanks for your clairification Sweep the Leg. I think this kind of job might be what I’m looking for right now. Not to much technical, like doing all the quantitative analysis, but also technical enough to understand a business or industry and be able to discuss it, while giving you an opportunity to switch to something else later.
this job sounds good. apply good luck. ignore 99% of people on here on whether this job can lead to xyz. the only career most of these people have on here is posting on this forum.
Just a last point, what do you think are the main point that I should mention in my resume when applying to this ? I mean what are the key point that the hiring person would like to see ? I have already an idea, just want to confirm. Thanks @Frankarabia: hahaha, ur so mean, lol
Don’t you currently work in investment consulting. That skill set should be very easy to transfer. If you have some investment related writing sample, that can’t hurt.
Miss*Yiota Wrote: ------------------------------------------------------- > > Hmmm, networking speaking, it looks nice. Now I > understand why they are asking for some sales > skills as well then. Thanks for your > clairification Sweep the Leg. > I think this kind of job might be what I’m looking > for right now. Not to much technical, like doing > all the quantitative analysis, but also technical > enough to understand a business or industry and be > able to discuss it, while giving you an > opportunity to switch to something else later. It depends what your end goal is. If you want to go here to try to network yourself into a hedge fund, those are poor odds, no joke. I’ve worked in a FoF for alternatives and equities. You are most likely to be asked asset return correlation questions and portfolio management questions than anything else. sharpe-ratios, std dev, comparison to mkt return. testing basic knowledge of finance and various alternative instruments You won’t be doing anything bottom-up. at all. The advice others have already posted are true, and are not trying to bring you down at all. If you choose to ignore them because of 1 guy FrankA, so be it.
They called me for an interview on Friday morning. Do you guys know what kind of questions I should expect for this position ? How deep do I have to go in potfolio management, alternative invest or hedge funds strategies ?