Investment Fund Managers

Finance

Level 6619 of 1200 points

Job description

Investment Fund Managers

Job purpose

To plan, direct and coordinate the investment strategy and operations of a large pool of liquid assets supplied by institutional or individual investors — selecting the investments held, directing the execution of trades and monitoring performance against risk goals — so that returns to clients are maximised within the fund's investment policy and its regulatory obligations.

Skills

Deep knowledge of economic and accounting principles, the financial markets and banking, and of the analysis, valuation and reporting of financial data, supported by the mathematics and statistics used in forecasting and valuation, the law and regulation governing funds, offering documents and transaction reporting, and tax law as it bears on fund structure. A master's degree is the norm and most of the remainder hold a bachelor's degree, with extensive related experience — commonly more than five years — expected on entry rather than acquired in post.
Meets investors to establish their investment goals and to discuss strategy, and presents investment information including product risks, fees and fund performance statistics to audiences ranging from institutional professionals to individuals with no technical background. Identifies target investors, directs the drafting of offering documents and marketing material, and responds to regulatory enquiries. Hires, evaluates and instructs the staff supporting the fund.
Selects the specific investments and investment mixes the fund buys, and evaluates new product developments and market opportunities against their business plans and market potential. Performs or evaluates detailed company and industry research to inform forecasting and valuation, and monitors regulatory and tax changes for their effect on the fund. The material is incomplete and constantly moving; there is no precedent for the next allocation decision, and the consequence of error falls on client capital and on the fund's regulatory standing.
Develops and implements the fund's investment policies and strategies and its security valuation policies, then works within them: directs the execution of trades and keeps abreast of markets through investment briefings and the financial media. Sets own tasks, priorities and goals to a very large degree, but market events and regulatory deadlines determine when the work must be done.
Work is carried out seated at a workstation and in meetings, using market data, research and trading systems. No manual handling or dexterity demands.

Responsibilities

Hires and evaluates staff and directs the activities of the accounting and operations departments serving the fund, coordinating and leading others on shared work. The people responsibility is real but secondary; the postholder's principal accountability is for investment outcomes rather than for the size of a team.
Responsible for a large pool of liquid assets belonging to institutional or individual investors. Manages the funds to maximise the return on client investments, selects the investments and investment mixes purchased, and selects or directs the execution of trades, monitoring each holding against the portfolio's risk goals. Discretion is bounded by the fund's own investment and valuation policies and by regulatory and tax requirements; the capital at risk is the clients'.
Ordinary care of a workstation and of the market data, research and trading systems used. No responsibility for premises, plant or stock.
Owns the fund's valuation and performance information: develops, implements and monitors security valuation policies, presents product risks, fees and performance statistics, directs the preparation of offering documents and marketing material and reviews them for regulatory compliance, and verifies the regulatory compliance of transaction reporting. The content is price-sensitive and its form is prescribed by regulation.

Effort required

Obtaining and analysing information is the substance of the work: sustained analytical concentration across many holdings, markets and data sources, with exactness required in valuation and reporting. Decisions are frequent, taken under time pressure on incomplete evidence, and their consequences reach clients, colleagues and the firm.
Carries direct personal accountability for other people's capital in a strongly competitive market where performance is measured and published. Must present poor results as well as good ones to investors, and remain composed under regulatory enquiry.
Sedentary work; the greater part of the day is spent seated at a workstation and in meetings. No lifting or exertion.

Working conditions

Indoor, environmentally controlled office work without physical hazard or unpleasant exposure. The demand is psychological: a competitive environment, a high consequence of error, and the standing of the fund resting on judgements the postholder makes personally.
Almost all incumbents work an established routine to a set schedule, but the hours are long, with the large majority working more than a standard week. The postholder has very wide freedom to make decisions and to determine tasks, priorities and goals, makes them frequently and under time pressure, and is answerable for their impact on the fund and the firm.

Skills

40% · 283 points▾

KnowledgeLevel 5 of 8
90 of 144 points
Specialised and theoretical knowledge within a field of work and an awareness of the limits of that knowledge. The job requires a comprehensive range of cognitive and practical knowledge to develop creative solutions to abstract problems.
Interpersonal and communication skillsLevel 3 of 5
58 of 96 points
Effective communication and interpersonal relationships. The job holder is required to adapt communication to different audiences and foster trust, cooperation and positive working relationships.
Problem-solving skillsLevel 4 of 5
77 of 96 points
Non-standard problems. The job involves solving complex, non-standard problems involving multiple factors to consider. Solutions often require careful analysis and the adaptation of current methods.
Planning and organisational skillsLevel 4 of 5
58 of 72 points
Advanced organisational skills required. The job requires planning and managing complex, often overlapping tasks or schedules. The job requires a degree of autonomy and joint planning, and managing interdependencies across teams or departments.
Physical skillsLevel 0 of 5
0 of 72 points
Not applicable. The job does not require any particular physical skills (although there is likely to be some physical activity).

Responsibility

35% · 240 points▾

PeopleLevel 3 of 5
86 of 144 points
Moderate responsibility for people. The job includes overseeing or coordinating the work and well-being of others. This may involve supervising, providing regular support, managing conflicts, responding to an individual's needs and ensuring the personal and professional development of individuals.
Goods and equipmentLevel 0 of 5
0 of 84 points
Not applicable. The job does not involve any responsibility for goods or equipment.
InformationLevel 4 of 5
77 of 96 points
Considerable responsibility for information. The job manages large amounts of valuable or sensitive information, deciding what is needed and how it is used and ensuring it is protected.
Financial resourcesLevel 4 of 5
77 of 96 points
Considerable responsibility for financial resources. The job involves managing large budgets or financial portfolios, making decisions on allocations, or overseeing the financial integrity for a department or organisation. The job may include liaising with auditors or financial officers.

Effort

15% · 65 points▾

Mental effortLevel 3 of 5
36 of 60 points
High level of mental effort. The job involves frequent concentration on complex tasks that require considerable mental effort, such as interpreting complex data.
Psychosocial and emotional effortLevel 2 of 5
29 of 72 points
Occasional psychosocial and emotional effort. The job requires occasional involvement in emotionally demanding situations, such as handling minor conflicts or dealing with upset individuals.
Physical effortLevel 0 of 5
0 of 48 points
Not applicable. The job does not require any physical effort.

Working Conditions

10% · 31 points▾

Environment (physical, psychological or emotional)Level 1 of 5
17 of 84 points
Minimal exposure to hazards or stress. The job involves little or no exposure to physical hazards (e.g. chemicals, moving equipment, noise) and minimal emotional or psychological risks (e.g. occasional routine tasks with no emotional burden). There is minor exposure to dust, dirt, fumes, noise, waste, poor lighting, etc.
Organisational environmentLevel 2 of 5
14 of 36 points
Occasional organisational demands. The job may involve occasional irregular hours (e.g. the requirement to work weekends or holidays), minimal travel or limited digital connectivity outside normal working hours.