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Fund Manager

Do you want to become a Fund Manager? Here is some information to help point you in the right direction:

Job Description - Print Page

Fund managers invest the money held by pension funds, insurance funds and unit trusts. They buy and sell shares, bonds and other assets in order to increase the value of their clients' portfolios.

For the clients to believe in their fund manager's decision, they need a great deal of self-confidence and credibility. This is especially vital when the markets are going down and the portfolio may not be performing well. Fund managers usually specialise in one of three areas:

• institutional fund management - such as company pension schemes
• retail funds - like unit trusts sold independently to the public
• private clients - where a wealthy individual has a very large sum of money to invest.

New entrants start in fund management in a research or analyst role. Most specialise in a particular sector commodity or geographic region.

Fund managers usually work Monday to Friday, from 8am to 6pm. At times the working hours can be longer than this. The work is largely office based, but much time is spent visiting clients. This can involve travel throughout the UK and sometimes overseas.

Salaries range from around £26,000 for new entrants, to £141,000 or more for executive fund managers.

A fund manager should:

• be self-confident and able to make informed decisions quickly
• have good communication skills and work well under pressure
• have strong analytical, numerical and literacy skills
• have a strong understanding of the financial markets and be well informed about all the activities affecting their specialised sector.

Many fund managers work for global banks and fund management companies. Most fund managers in the UK are centred in London and Edinburgh, with a few opportunities in Glasgow and Liverpool. Competition for jobs is fierce.

Many fund managers have a good degree, often in subjects such as accountancy or economics. Increasingly, entrants also have postgraduate qualifications. For non-graduates, employment options are limited.

Many employers provide intensive on-the-job training for new entrants, where they train with a senior research analyst. This can last up to a year, and they are often expected to sit an exam approved by the Financial Services Authority.

Those with experience and a good performance record could be promoted to head of a fund management team. Later they may take on a more consultative role.

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