Investment Manager, Large Fund of Funds (70-85K)

Morgan McKinley Hong Kong

Posted 1 month ago Permanent Competitive

Responsibilities

Portfolio Strategy & Asset Allocation

Top-down allocation: Define strategic and tactical asset allocation across public fixed-income sectors (e.g., government bonds, corporate credit, high-yield, emerging market debt).
Macro analysis: Analyze global macroeconomic trends, interest rate movements, central bank policies, and credit cycles to position the portfolio.
Risk budgeting: Allocate risk capital across different fixed-income styles, durations, and credit spectrums to optimize the risk-adjusted return.

Manager Selection & Due Diligence (Research)

Manager sourcing: Identify top-tier fixed-income managers, mutual funds, and institutional mandates globally.
Investment due diligence (IDD): Evaluate managers' investment philosophies, credit research capabilities, trading execution, historical performance, and consistency.
Operational due diligence (ODD): Assess the institutional framework of target funds, including risk controls, compliance, valuation policies, and infrastructure.
Fee negotiation: Leverage the large size of the FoF to negotiate institutional share classes, sub-advisory fees, or customized side letters.

Portfolio Construction & Implementation

Blending strategies: Combine complementary managers (e.g., pairing a macro-driven duration manager with a bottom-up credit picker) to minimize unwanted overlap.
Liquidity management: Ensure the FoF maintains adequate liquidity to meet investor redemptions, especially during fixed-income market stress.
Transition management: Oversee the efficient movement of capital when hiring or firing underlying fund managers to minimize transaction costs.

Risk Management & Monitoring

Performance attribution: Use tools like Barclays POINT, Aladdin, or Bloomberg to analyze which underlying managers are driving or dragging returns.
Exposure tracking: Monitor aggregated portfolio metrics including duration, convexity, credit rating breakdown, and country/currency exposures.
Style drift policing: Ensure underlying managers strictly adhere to their stated fixed-income mandates and risk limits.

Stakeholder Communication & Reporting

Client reporting: Prepare performance updates, market commentaries, and portfolio insights for institutional clients, boards, or internal investment committees.
Investment committee presentation: Write formal investment memos and pitch new manager recommendations to the firm's leadership.

Requirements

Bachelor's degree holder from a globally recognised university
CFA would be preferred
At least 5-8 years of relevant experience in Fund of Funds (FOFs) investment
Experience in the asset class of fixed income preferred
Excellent command of English

Job ID JN -082022-1753478

ABOUT COMPANY

Morgan McKinley - Hong Kong

Hong Kong

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Morgan McKinley has been successfully connecting talented candidates with career opportunities for over 30 years. It’s in our DNA to Go Beyond – above...

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