About the Opportunity

Company: FIL Fund Management (China) Company

Job Type: Permanent

Application Deadline: 31 August 2024

Title: FoF Analyst - Manager Selection

Department: Fidelity Solutions & Multi Asset (S&MA)

Location: Shanghai, China

Reports To: Head of Multi Asset Investment, China AMC

Level 7

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About Fidelity International

Fidelity International offers investment solutions and services and retirement expertise to more than 2.56 million customers globally. As a privately-held, purpose-driven company with a 50-year heritage, we think generationally and invest for the long term. Operating in more than 25 locations and with $783.6 billion in total assets, our clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals.

Our Workplace & Personal Financial Health business provides individuals, advisers and employers with access to world-class investment choices, third-party solutions, administration services and pension guidance. Together with our Investment Solutions & Services business, we invest $567 billion on behalf of our clients. By combining our asset management expertise with our solutions for workplace and personal investing, we work together to build better financial futures.

About Fidelity International China Business

China is a critical, long-term market for Fidelity International. We have been investing in Mainland Chinese companies for over 20 years. As a leading global financial institution, Fidelity International is a pioneer in China’s asset management industry. Our strategic decision is to build an independent business in China. This can ensure we bring global best practices to the market and deliver the same standard of services to Chinese investors as we do in every other market in the world.

In January 2017, Fidelity was the first global asset manager to register with the Asset Management Association of China (AMAC) as a private fund management (PFM) company. With a building-block approach, we are on track to continuously enhance our core capabilities in China. Today, we are the proud employer of over a thousand colleagues in Beijing, Shanghai, and Dalian. Ultimately, we aim to offer mutual funds in China which will allow us to adopt a consistent approach towards our operations in every market in the world and reach a wider group of investors in the country.

Investment Capabilities

We have one of the largest buy-side China investment teams which consists of 40+ investment professionals covering China. Under our WFOE entity, we have two Shanghai-based portfolio managers and a growing team of investment specialists. From the offshore perspective, we are one of the largest active stock pickers in the Chinese stock market and, through our mutual fund vehicles, thousands of retail investors globally can now participate in the remarkable growth story of China.

Retirement and Pension

Retirement is in our DNA and Fidelity International has the long-term ambition to participate in China’s pension market. With the development of the third-pillar pension system, investor education is crucial. This is why we established a five-year partnership with Ant Fortune, the wealth management subsidiary of Ant Financial, to work on an annual China Retirement Readiness Survey. The partnership will combine Ant Fortune’s vast digital platform and data analytics, along with Fidelity’s global investment and pension expertise, to produce research and insights into China’s retirement readiness on an ongoing basis.

Department Description

Solutions & Multi-Asset (S&MA) is a global team with assets under management on behalf of retail and institutional clients. The team manages investment strategies across various franchises, including Income, Volatility Managed, Absolute & Total Return, and Risk Rated & Open Architecture, designed to deliver specific outcomes for clients across market cycles. Portfolio Managers at Fidelity Solutions & Multi-Asset draw on an extensive toolkit for delivering investment objectives, including a large and well-resourced investment research team (comprising Tactical Allocation Research, Manager Research and Quantitative Research), as well as a dedicated Risk & Analytics team and implementation specialists. These resources support investment decision-making across various portfolio construction disciplines, including tactical asset allocation, strategy selection and risk management.

The China team within S&MA will manage onshore mutual funds and segregated mandates. The department’s edge is to bring local expertise required for China but also to bring the global knowledge base through true multi asset thinking, long term fundamental research and outcomes for key areas such as income and retirement. The team’s expertise is both in direct investing and a dedicated Fund of Fund (FoF) department.

Purpose of the Role

Your role will primarily consist of working alongside the Portfolio Managers in developing FoF department’s manager selection capabilities in China. Making recommendations for investments that will be implemented across the FoF product range.

Key Responsibilities

China Mutual Fund Research Analysis

• Conduct in-depth quantitative and qualitative analysis of managers’ investment philosophy and processes, including holdings and portfolio analysis, scenario and risk analysis, performance analysis and attribution, to identify those managers most likely to deliver alpha for clients over the long-term
• Work with the Head of FoF to develop investment tools and recommendations in our FoF portfolios
• Assist in the further development of the Fidelity Solutions & Multi Asset manager research model in China
• Potentially provide, monitor, and update model portfolios of portfolio managers in China in line with specific risk/return specifications
• Work with Portfolio Construction and Risk team in developing risk analysis models and tools for FoF portfolios
• Work with Fidelity China’s operational teams, providing input to the building out of investment infrastructure
• Respond to ad-hoc portfolio manager queries or specific client requests, providing comparative insight, reference model suggestions, etc

Team interaction

• Work as part of the China onshore and global Solutions & Multi Asset team
• Contribute quantitative insights to regular team research meetings and to Solutions & Multi Asset investment meetings
• Debate and discuss investment recommendations across asset classes
• Interact with portfolio managers regularly

Experience and Qualifications Required

• Bachelors or Masters in Economics, Finance, Engineering, Computer Science, Physics, or Mathematics
• 2-5 years of research experience in mutual fund company or insurance asset management company, preferred
• Experience of researching China onshore fund managers
• Strong understanding of data and applied quantitative skills, with experience in a programming language
• International experience preferred (work or education)
• High standard of personal integrity and alignment with Fidelity’s required values and behaviours
• Team player with the proven ability to build strong relationships internally and externally
• An inquisitive mind with excellent attention to detail
• Deadline oriented and highly organised, with the ability to work under pressure
• Proactive approach and a ‘can-do’ attitude to take ownership and resolve issues