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We are looking for an experienced and accomplished fixed income emerging markets credit analyst and portfolio manager with a proven track record in emerging markets credit selection, portfolio construction and preferably also fund/discretionary mandates management to support the senior portfolio managers under a temporary assignment (expected 7-9 months). The role holder will join our emerging market desk (EMFI) in the CIO Office Fixed Income (CIOO FI) team with responsibility for emerging market bonds in mutual funds and discretionary mandates. This role is a unique opportunity to join Julius Baer’s growing and successful CIOO FI franchise, to drive emerging market credit analysis and selection as well as to join the management of our: - Julius Baer Fixed Income Emerging Markets Corporate Bond Ucit fund - Actively Managed Certificate on a Portfolio of Latin American Bonds - as well as other dedicated emerging market products and mandates.
IHRE AUFGABEN
The CIOO FI team is responsible for the management of the bank’s global fixed income funds and discretionary mandates. Located in CIO Office Global Equity & Fixed Income in Zurich, Switzerland, CIOO FI is the fixed income asset class competence centre in support of the Group CIO, Investment Committee and global Investment Management operation. The team is composed of 15 specialists based in Switzerland. The CIOO FI team has generated superior risk adjusted performance during the last five years by combining the best of institutional and private wealth management processes, talent and execution. The operation is fully aligned with client interest. Fixed Income mandates, building-block investment funds and certificates are all managed within the same team.
The fixed income emerging market desk (EMFI) has performance responsibility for the emerging market fixed income sub-asset class, with execution through investment products (e.g. building-block funds and managed certificates) and managed mandates (e.g. eligible credit universe).
The EMFI desk’s main focus is on liquid hard currency emerging bond markets globally, in exchange and collaboration with our investment grade and global high yield desks, as well as our offices in Asia, the Middle East and Latin America. EMFI is expected to provide strategic and tactical input on the EMFI asset class to the Head of CIOO FI and the PCT fixed income sub-investment committee.
The EMFI desk’s portfolio management responsibilities include the flagship JB FI EM Corporate Ucit fund, which is ranked highly amongst peers and has received top fund industry awards for risk-adjusted performance. The team also manages an Actively Managed Certificate (AMC) on a portfolio of Latin American bonds. Mandate-related tasks include the management of dedicated emerging market mandates, a seat in our fixed income credit selection sub-committee, and close collaboration with the model portfolio and the mandate portfolio management teams and processes.
The role is to support the Senior Portfolio Managers, involving notably the following tasks:
Perform detailed fundamental credit analysis of corporate issuers and relative value analysis for issuers and bonds across multiple currencies in the given market segments and sectors. Experience in the financial sector is preferred.
Perform fundamental sector analysis for the relevant sectors / regions / market segments from both a bottom-up credit quality perspective and relative value
Perform fund manager responsibilities, implement the investment strategy across formats (fund, AMC, mandates) according to specific investment guidelines
Optimise the EM funds’ risk-adjusted performance against market benchmarks and peers
Maintain a strong collaboration with the fixed income dealing desk for primary and secondary execution
Build/maintain relationships with financial counterparties (syndicates, sales desks), corporate debt issuers as well as analysts; meet and visit issuers in roadshows, perform due diligence
Perform financial modelling, scenario and covenant analysis on complex credits and corporate actions
Select and monitor the broad credit selection eligible for building-block bond funds, as well as the core credit selection eligible for single-line use in discretionary mandates
Contribute to internal and external communications, e.g. fund manager reports, strategy updates, investment proposals, prospective client meetings
Support the CIOO FI team in different tasks and projects, e.g. model portfolio construction and bespoke portfolio analyses
The role offers a challenging, dynamic and diverse workflow with team colleagues, management and other staff across functions and geographies.
YOUR PROFILE
University Master’s degree, CFA advantageous
Min. 5 years working experience as fixed income emerging market credit analyst and/or fund manager
Meaningful in-depth credit, sector and economic analysis experience in global emerging markets. Financial sector experience a plus.
Passion for investing and a buy-side oriented mind-set grounded in a thorough understanding of risks and solid judgment. Relentless focus on investment performance
Outstanding analytical skills, quantitative, detail-oriented, ability to think critically and form independent opinions
Flexible, independent and structured working style, capacity to manage multiple tasks in a dynamic environment and ability to work under pressure
Strong communication and presentation skills, established market network, experience in client interaction
Very good written and spoken command of English, other languages advantageous
Able to quickly establish credibility and trust, teamwork skills, client- and service-oriented personality
Strong Bloomberg (AIM) experience; MS Excel, MS Powerpoint and other IT skills (Python, Excel VBA experience useful)
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