Portfolio Management Associate - Boston, MA

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Description

Company Profile

Founded in 1977, GMO is a private partnership committed to delivering superior investment performance and advice to our clients. We offer strategies where we believe we are positioned to add the greatest value for our investors. These include multi-asset class portfolios as well as dedicated equity, fixed income, and absolute return offerings, many of which employ the firm’s proprietary 7-year asset class forecasting framework.  Our client base is comprised primarily of institutions, including corporate and public defined benefit and defined contribution retirement plans, endowments, foundations, and financial intermediaries.

GMO, whose sole business is investment management, employs approximately 550 people worldwide and is headquartered in Boston with offices in San Francisco, London, Amsterdam, Sydney, and Singapore. We manage roughly $77 billion in client assets using a combination of top-down and bottom-up approaches that blend traditional fundamental insights with innovative quantitative methods to identify undervalued asset classes and securities. Our valuation-based approach embeds several key factors, including: a long-term investment horizon, discipline, conviction, and a commitment to research. Our research emphasizes not only identifying and exploiting pricing dislocations but also understanding the long-term drivers of return in the markets in which we invest. We are known for our candor in sharing our views with clients and for our willingness to take bold, differentiated positions when opportunities warrant.

Overview

The successful candidate will be part of the Asset Allocation team, which is responsible for managing multi-asset portfolios and conducting research across a variety of asset classes.  The team values clarity of roles and decision-making while maintaining a culture of intellectual curiosity, debate, respectful disagreement, candor, and collegiality.  The associate’s role will be to support the portfolio managers through improved information flow and structure, rigorous documentation and monitoring of investment decisions, and informed contributions to the ongoing challenges of managing institutional capital. In this role, the associate will develop and improve his or her understanding of multi-asset portfolio construction techniques, the fundamental sources of long-run returns to broad asset classes, and quantitative and fundamental approaches to active management within asset classes. The individual will be based in GMO’s Boston office and is expected to travel only occasionally.

Responsibilities:

The individual’s specific responsibilities will include:

  • Running periodic and ad hoc updates to portfolio construction and attribution models, analyzing sensitivities and risks to key assumptions, and presenting this information to the team

  • Monitoring portfolio positioning relative to market developments and building tools needed to do so systematically and efficiently

  • Initiating portfolio management discussions as and when needed, including providing clear analysis and presentation of relevant information both in writing and orally

  • Participating in portfolio management discussions and documenting decisions made, key inputs to those decisions, and conditions under which decisions require review

  • Monitoring competitor positioning and performance and staying abreast of both commercial and academic research in the field of portfolio construction

  • Participating in discussions with GMO’s portfolio managers across equity, fixed income, and alternative investment strategies, documenting key learnings, and conducting supporting analysis

Qualifications:

Members of the Asset Allocation team are passionate about markets and often have backgrounds in multiple elements of the investment universe. In addition, the successful candidate will possess the following qualifications and attributes:

  • Three or more years of experience in capital markets

  • Excellent academic credentials, including strong quantitative reasoning and writing skills

  • Understanding of modern portfolio theory, sources of returns for major asset classes, and attribution analysis techniques

  • Ability to comprehend, synthesize, and communicate clearly and concisely investment discussions and decisions

  • Strong experience and fluency with Excel

  • Good nature; comfort with ambiguity; self-motivation

  • Long-term orientation; self-confidence; humility; team-orientation

  • Ability to persevere through challenges and failures

  • Experience in a multi-manager, multi-asset class setting, such as an endowment or foundation, a fund-of-funds, or an internal multi-manager platform preferred

  • Matlab programming ability; familiarity with Bloomberg and FactSet preferred