Portfolio Manager (Passive & Factor Based Equities) Portfolio Manager (Passive & Factor Based  …

LGPS Central Limited
in Wolverhampton, England, United Kingdom
Permanent, Full time
Last application, 26 May 20
Competitive
LGPS Central Limited
in Wolverhampton, England, United Kingdom
Permanent, Full time
Last application, 26 May 20
Competitive
About LGPS Central Limited

LGPS Central Limited is a fund management company, regulated by the Financial Conduct Authority (FCA), managing the pooled assets of nine Midlands-based local government pension funds.

With combined assets of approximately £45bn, and representing the retirement savings of over 900,000 scheme members across over 2000 employers, LGPS Central Limited’s Partner Funds are; Cheshire Pension Fund, Derbyshire Pension Fund, Leicestershire Pension Fund, Nottinghamshire Pension Fund, Shropshire Pension Fund, Staffordshire Pension Fund, West Midlands Pension Fund, and Worcestershire Pension Fund.

Since its launch in April 2018, LGPS Central (LGPSC) has become responsible for around £20bn of these assets. Around £10bn is held in funds structured in an Authorised Contractual Scheme (ACS, itself authorised by the FCA) and around £10bn in a range of advisory and discretionary mandates. The volume of assets under management is expected to grow rapidly over the next few years as, in partnership with our Partner Funds, new sub-funds are developed and launched into which Partner Funds’ assets will transition. A range of further sub-fund launches are planned for this financial year across a range of asset classes.

LGPS Central Limited is owned equally by the pension funds and is dedicated to the management of local government pension assets. The aim of the Company is to use the combined buying power of its Partner Funds to reduce costs, improve investment returns and widen the range of available asset classes for investment – all for the benefit of local government pensioners, employees and employers. We are also committed to fully integrating Responsible Investment and Engagement into all our investment processes.

The management of Local Government Pension Scheme funds is going through significant change, providing career-changing opportunities for those who have the relevant investment experience and who want to work within a company which values integrity, trust, transparency, diversity, fairness and partnership. LGPS Central Limited aims to be a centre of excellence and we seek candidates who share our values to help us achieve that goal.

Our objective is to be a leading investment management company working with and for our Partner Funds. With a focus on value for money and performance we want to aspire to be one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds.

We are a diverse and inclusive employer and would welcome interest from all sections of the community.

We are now seeking to hire an experienced Portfolio Manager to join the Passive Equity team based in the Midlands.

About the role

Passive Equity Team

The LGPSC Passive Equity team is responsible for the in-house management of approximately £5bn of global and regional equity assets for our Partner Funds in a range of market cap and factor-based strategies.   The team consists of the Investment Director, a Senior Portfolio Manager and two Investment Analysts.

The LGPSC Passive Equity team take care of the day-to-day management of the funds including all trading activity.  However, they are also involved in the development of investment systems and processes for LGPS Central as well providing our Partner Funds with research on a range of passive and factor-based equity benchmarks available in the market.

The role of Portfolio Manager at LGPS Central offers an opportunity to be part of the development and growth story of a multi-billion-pound asset manager, to join an organisation where you will not only have the prospects to develop your investment skills but also be actively involved in the development and launch of new products.

You will be expected to work as part of the team and will be required to support the Investment Director.  Duties will include, but not be limited to:

  • Management of designated index funds or factor-based funds, ensuring that funds closely track the performance of the benchmark.
  • Monitor cashflows
  • Prepare trade lists and execute single and multiple orders with brokers
  • Analyse index changes and corporate actions
  • Review and attribute fund performance
  • Assist with the preparation of marketing and presentation materials
  • Use expertise to provide market commentary and undertake research and development of new index fund products and industry developments.
  • Work closely with teams across LGPSC to facilitate the efficient transfer and transition of Partner Fund Assets.
  • Provide support to the Chief Investment Officer and public markets teams as and when required.

If you are interested in applying for this role, please forward your CV with a covering letter to recruitment@lgpscentral.co.uk highlighting your key strengths and experience in relation to the job profile and demonstrating why you have the skills to perform this role. Please note that the application closing date is 5th June 2020.

Role

Purpose:

LGPS Central is looking for an Index Fund Manager to join the Investments team.  Based in the Midlands (ideally in Wolverhampton or alternatively in Matlock), the successful candidate will report to the Investment Director (Passive and Factor Based Investment).

You will work closely with the Investment Director and your peers in the Investments team to research, build and manage a range of professional, high performing index and factor-based funds.

Financial

  • Supporting the Investment Director with the financial and performance management of the index and factor-based portfolios.

Non-Financial

  • N/A
  • Health and Safety

Delegated Authority Levels: N/A

Reports to:

  • Investment Director (Passive & Factor Based Investment)

Relationships Internal:

  • Executive Directors/ Board/NEDS/Heads of Service/Portfolio Managers and other LGPSC staff, Stakeholders and Clients

Need to do

Key Responsibilities:

  • Management of designated index funds or factor-based portfolios ensuring that portfolios adhere to all regulatory, investment and risk parameters and closely track the performance of the benchmark.
  • Deputise for the Investment Director and Senior Investment Manager when necessary.
  • Analyse index changes and corporate actions and develop suitable trading strategies to implement changes and cash flows.
  • Prepare trade lists and execute single and multiple orders with brokers using a range of techniques including high touch, algorithms and program trading.
  • Analyse and report trading performance using BTCA.
  • Review and attribute fund performance and produce monthly and quarterly reports within agreed timescales.
  • Work closely with Partner Funds to determine priorities and requirements for index and factor-based products.
  • Support the Investment Director and Senior Investment Manager in the development of future index or factor funds launched by LGPS Central Limited.
  • Assist with the preparation of marketing and presentation materials.
  • Develop strong relationships with index providers and use expertise to undertake in depth research to assess and compare index products and market trends.
  • Provide product commentary and thought pieces relating to index products and developments in index and factor-based investing.
  • Support the investment team with improvements to existing products and the development and enhancement of investment systems.
  • Work closely with other teams within LGPS Central to facilitate the efficient transfer and transition of Partner Fund assets.
  • Contribute to a rigorous culture of high performing, collaborative, research based and responsible investing across the Investment team.
  • Provide support to the Deputy Chief Investment Officer and public markets teams as and when required.

Need to know

Skills/Knowledge/Experience/Competence:

  • Experience of passive fund management and advanced knowledge of indexation methodologies and portfolio construction.
  • Strong technical and analytical skills with experience in an investment role in asset management or investment banking.
  • Detailed knowledge of ETF and equity securities, FX and exchange traded derivatives.
  • An understanding of fixed income fund management and trading would be useful.
  • Good communication and experience of collaborative investment decision making in an FCA regulated environment. 
  • Demonstrates experience of contributing to and following policies on the selection of investments, documenting the rationale for making investments, portfolio construction, and portfolio monitoring and reporting.
  • Understanding of middle and back office functions.
  • Can evaluate performance and risk of investment portfolios objectively.
  • Has or can meet all the requirements of being an FCA, CF30 approved person.

Skills/Knowledge/Experience/Competence:

  • High degree of professional ethics, integrity and gravitas.
  • Team player
  • Excellent judgement and analytical skills.
  • Demonstrates first class interpersonal, people management and communication skills.
  • Excellent attention to detail and accuracy under time constraints.
  • Knowledge of Bloomberg or other financial data systems
  • Advanced Excel, PowerPoint, Word

Qualifications

  • Degree level or equivalent.
  • IMC essential
  • CFA or equivalent qualification/relevant investment experience.

Regulatory SMCR certification

  • Client Dealing Function
  • Material risk taker

Values and Behaviours

Values:

  • Integrity
  • Client Focus
  • Supportive Workplace
  • Togetherness
  • Cutting Edge

Behaviours:

  • Open, fair and transparent
  • Honest and trustworthy
  • Empowered in making right decisions
  • Accountability for results and delivery

If you are interested in applying for this role, please forward your CV with a covering letter to recruitment@lgpscentral.co.uk highlighting your key strengths and experience in relation to the job profile and demonstrating why you have the skills to perform this role. Please note that the application closing date is 5th June 2020.

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