Asset Management. Filippo Stefanini

Transcription

1 Asset Management Filippo Stefanini

2 AGENDA venerdì 13 ottobre 2017 Introduction to Finance 2 Agenda Preliminaries 1. Asset management 2. Asset management jobs

3 Introduction to Finance 3 Asset management Asset management firms collect savings of inviduals and institutions and invest them on the international financial markets.

4 Introduction to Finance 4 Buy side research analyst Analysts in this role conduct financial and equity research in a team for their fund manager. Their primary responsibility is to collect data on a particular company or an industry and analyze its financial strength. They are required to make reports and present their opinions on buy, sell or hold decisions for a particular securities or stock. In addition to this, they are expected to make recommendations to their managers on diversifying the portfolios depending on their research.

5 Introduction to Finance 5 Financial risk manager Calculates VaR, TEV, use of risk budget Run peer group analysis for funds Run performance attribution analysis

6 Introduction to Finance 6 Chief Investment Officer He is responsible for asset allocation and for strategic choices Assess portfolio managers Over-rules portfolio managers Develop new products

7 Introduction to Finance 7 Operational risk manager Assess the counterparty risks Assess the risk of investing in illiquid securities

8 Introduction to Finance 8 Portfolio manager Quite literally this is the ultimate profile within asset management domain for an aspirant. As against making recommendations on which stock to include in your fund, here you really get to create your own fund depending on your own and your team s analysis. As a portfolio manager you will decide the composition of your fund in terms of which securities to include and how much. This is an extremely strategic profile and requires a lot of analytical thinking to take a decision. Also, you need to work closely with your team of analysts to understand the research behind every decision that you make.

9 Introduction to Finance 9 Financial advisor This is more of a business development profile where your primary task is to acquire more business or more clients. Depending on the requirement of your clients, you would sell a portfolio of investments to your clients.

10 Introduction to Finance 10 Relationship manager The relationship manager handles a specific number of clients. As a relationship manager you are the mediator between your client and your company. You will be required to be at your clients disposal at all times. Whether it is compliance, processes or even grievance handling, you will be required to do all of that for your set of clients. You will also be responsible for educating your clients on now products, services and offerings that your company might have and try to expand the current relationship for more business from the same client.

11 Introduction to Finance 11 Sales manager A sales manager is required to generate more business by acquiring new clients in a certain area. He makes presentation to the prospective clients and convince them to get in a business relationship with your company. This profile requires a lot of travelling and networking. As you wouldn t be sitting in office, you will have a support team of your own to do the back end job for you. This back end job involves identifying prospective clients and scheduling appointments for you.

12 Introduction to Finance 12 Junior research analyst An assistant to the research analysts in the company. He/she collects data on a specific company or industry, creating reports and helping the analysts in their analysis.

13 Introduction to Finance 13 Economist An economist studies macroeconomy to give analysts/portfolio manager insights that could impact their decisions. It involves studying monetary policies of central banks, macroecomic data (i.e. economic growth, unemployment and inflation) and deriving their impact on asset classes, countries or economic sectors.

14 Introduction to Finance 14 Quantitative analyst The analyst create models and tools for analysis. The quantitative analysts will understand the analysis requirement of the research analysts and develop a model that will help them do their analysis. Typically a quantitative analyst will have working knowledge of computing languages and will be required to write codes.

15 Financial adviser A financial adviser sells his clients a variety of products: funds segregated managed accounts unit linked. venerdì 13 ottobre 2017 Introduction to Finance 15

16 Introduction to Finance 16 Private banker Private bankers offer financial services and advice to wealthy individuals (at least 500k euro in financial assets). Private banking units usually charge their clients a fee for their services based on a percentage of assets under management.

17 Introduction to Finance 17 Compliance officer Compliance officer prevent company employees from violating internal regulations and laws. Track employees, trades to ensure that they aren't buying or selling securities; Develop the policies and procedures of the group along with company attorneys and external regulators.

18 Introduction to Finance 18 Internal auditor Controls that company employees respect internal procedures

19 Introduction to Finance 19 Trader Asset management firms have centralised trading desks, where traders execute the orders insert by portfolio managers He/she can decide the broker used to close the financial transaction with the best execution

20 Introduction to Finance 20 Product specialist Sitting side by side with the portfolio manager, he/she then travel to meet with clients or to speak at conferences or to conference call to update clients on the investment strategies In this way the portfolio manager can dedicate more time to face financial markets.

21 Introduction to Finance 21 Suggested links izon/en/index.jsp