What are the responsibilities and job description for the Manager, Fixed Income and Alpha Strategies position at MacAthur Foundation?
The Foundation’s investment team is responsible for managing the Foundation’s $8.8 billion investment portfolio. The money is managed in a globally diversified/multi asset class portfolio with the objective of earning a 5% real return annually. This portfolio is the source of funds for the Foundation’s grant making activity and other organizational expenses.
The Manager, Fixed Income and Alpha Strategies reports to the Managing Director, Fixed Income and Alpha Strategies and assists in the development of investment strategies for, and management of, the Foundation’s Fixed Income (Treasury, Credit, and Special Situations) and Marketable Alternatives (Alpha sources) portfolios totaling $2.6 billion. This individual provides comprehensive research and analytic support, including risk management, at both the individual strategy and aggregate portfolio levels.
The Fixed Income portfolio consists of a beta overlay of government and corporate fixed-income assets, largely achieved through derivative instruments, combined with a diversified collection of alpha sources including multi-strategy, long/short, relative value arbitrage, and global macro strategies with an absolute return focus. The underlying asset classes include high-yield bonds, loans, and structured credit, as well as equities, rates, and currencies. Alpha sources may be long only or hedge fund strategies, in open or closed end structures.
The Manager, Fixed Income and Alpha Strategies reports to the Managing Director, Fixed Income and Alpha Strategies and assists in the development of investment strategies for, and management of, the Foundation’s Fixed Income (Treasury, Credit, and Special Situations) and Marketable Alternatives (Alpha sources) portfolios totaling $2.6 billion. This individual provides comprehensive research and analytic support, including risk management, at both the individual strategy and aggregate portfolio levels.
The Fixed Income portfolio consists of a beta overlay of government and corporate fixed-income assets, largely achieved through derivative instruments, combined with a diversified collection of alpha sources including multi-strategy, long/short, relative value arbitrage, and global macro strategies with an absolute return focus. The underlying asset classes include high-yield bonds, loans, and structured credit, as well as equities, rates, and currencies. Alpha sources may be long only or hedge fund strategies, in open or closed end structures.
Job Description
Essential Duties and Responsibilities:
- Assist with the monitoring and management of the Fixed Income and Marketable Alternatives portfolios
- Perform thorough due diligence on potential investments, meet with prospective and existing managers, and analyze and evaluate fund strategy and performance, firm operational considerations, and legal documents
- Responsible for both verbal and written presentations to the Foundation’s Investment Committee on issues regarding the portfolios, including Investment Committee meeting reports and quarterly portfolio updates to the Committee
- Conduct economic research and present informed views on alternative asset strategies and topics related to fixed-income investments (i.e. interest rates, credit spreads, and the capital markets)
- Manage Analyst, Fixed Income and Alpha Strategies in a rotational program
- Contribute substantial input into the Foundation’s asset allocation process
- May perform other duties as assigned
Qualifications:
- A bachelor’s degree; graduate degree, CFA and/or other advanced certification preferred
- Minimum of seven years of experience in the investment management industry, and previous experience with fixed income and hedge fund investments
- Must be willing to pursue CFA if not presently a candidate
- Solid quantitative and economics background
- Strong experience with the selection and management of external asset managers
- Expertise in analysis and implementation of alternative strategies, including hedge funds and structured products; strong analytic skills related to cash securities, currencies, exchange-traded, and over-the-counter derivatives
- Significant experience in portfolio construction, research, and administration; familiarity and experience with investment software packages
- First-hand knowledge of hedge fund strategies, fixed income product types, major markets, and private investment partnership structures
- Strong reputation in the investment arena with an established network and peer respect
- Strong leadership and organizational skills, and must work well in a fast-paced, collegial team environment
- A person of high ethics and integrity who is well respected within the investment community, not only for his/her technical skills, but also for his/her credibility and high standards of professional conduct
The position is hybrid and based in Chicago, Illinois.
Annual salary for this role will start at $225,00 and is incentive bonus eligible. We offer a generous total compensation package that emphasizes both base salary and a comprehensive benefits package to support your life, health, and well-being.
Physical Requirements and Work Environment
The work environment is an office setting. Intermittent physical activities will include bending, reaching, sitting, and moving around the office during working hours. Reasonable accommodations may be made to enable a person with physical disabilities to perform the job.
