Would like to work in Fund Mgmt

F

Franko43

Guest
Hi All
First post - so go gentle on me ..LOL..Over this past number of years I've put together a portfolio of funds and I've found that I really really enjoy picking funds, looking at companies in the funds and how they are performing and reading up on the macroeconomic + political tensions in each area. I would really like to get into this area. The problem is I’m now 34 and have circa 10 years experience as an IT Business Analyst, Project Manager/Consultant but I feel I’m too old to retrain and get into this area. I suppose I have dealt with large Blue Chips if that’s of any use. Ideally – I’d love to be a Fund Manager but I feel I’ve made the wrong career move into IT and it’s too late possibly to move into this area or retrain, if not what sort of courses should I look at. Appreciate any comments from anyone who is in this space right now and if I’m completely mad please tell me now.
 
Hi there

Welcome to the forum, as regards your question, if you think that the average person works around 50 years productively and you'v currently worked around 15 (just a guess) whats to stop you working the next 35 as something else...

May only take a couple of years to train up but it would be worth it

So my advice....Go for it and live the dream you want to live!
 
A friend of mine does this. He has no qualification other than a part-time six month funds course he did in the National College of Ireland.

It seems it's hard to get staff in this area.

Regarding you thinking you're too old: forget about that! You're only thinking that because you're comparing yourself to everyone else. Just do what you want to do and you'll be happier in the long term.
 
You should look at the Chartered Financial Analyst course/qualification.

Flax said:
A friend of mine does this. He has no qualification other than a part-time six month funds course he did in the National College of Ireland.
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Is he actually responsible for asset allocation/trading?
 
DCU do a masters or post grad diploma in Investment & treasury Management on a part time basis, that would probably be a good way to get into the industry,
Otherwise I’m sure entry level positions would be reasonably easy to come by, get your foot in the door and let your ability show
 
For what it's worth, think the best fit for your skills would be a role first trading/dealing on an execution-only basis at a stockbrokers or a bank which has a stockbroking arm and take the benchmark minimum qualifications to authorise you while working. Then push hard to secure a role as a portfolio manager. Getting a role where you're the named fund manager of a product which the public is familiar with is going to be very difficult but not impossible which I guess is what you're looking for. For that however, I think you would have to move to London to get that type of break. The fact that you've a lot of experience in IT might lend itself to analysis of tech stocks; a lot of analysts have a practitioner background but then they will also have a role at an investment bank which will be hard to get into given your age as they mostly take grads. Often, in many organisations, there are in reality very few people who take the decisions anyway. The portfolio managers are given a house view set down by their strategy committee of the stocks they can buy and recommended weightings. A more ambitious route and this is feasible, just!, is to save like mad, badger friends, family etc, get the right advice and service providers to raise your capital and set a fund up yourself. Good luck with it- it can be done and you have the most important attributes; desire and enthusiasm
 
Just re-read your post and saw you're actually talking about running a FOF portfolio; slightly different opportunity set there and different advice which I'll stick on in a minute..
 
bamboozle said:
DCU do a masters or post grad diploma in Investment & treasury Management on a part time basis, that would probably be a good way to get into the industry,
Otherwise I’m sure entry level positions would be reasonably easy to come by, get your foot in the door and let your ability show
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I'd second this course.

I know some people who have taken it and one of the guys who was involved in its start up as a lecturer. It's a well respected course and a lot of the individuals taking it are already working in finance.

It can prove to be useful in terms of gaining contacts for employment. This might be an avenue that would help you move into a level higher than you could otherwise achieve.

CFA is another route that is well respected, but perhaps more suited to doing afterwards if you have no background in finance.

Other than that, I'd suggest the looking at the institute of bankers courses to see what might suit you.
 
Flax said:
Sorry I meant to state he's a fund accountant, but it's a step in the right direction...
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There is a world of difference between a fund accountant and a fund manager (or a fund of funds manager, or a fund of hedge funds manager).

The fact that your friend got a job with nothing but a six month course as qualification says volumes about the quality of the work being done by many fund "accountants" in Ireland these days.
 
efm said:
There is a world of difference between a fund accountant and a fund manager (or a fund of funds manager, or a fund of hedge funds manager).

The fact that your friend got a job with nothing but a six month course as qualification says volumes about the quality of the work being done by many fund "accountants" in Ireland these days.
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Pretty broad sweeping comment, A qualified Accountant working in the funds industry can expect to earn at least 20% or more than he would in industry as an accountant & the level they work at gives them a lot of exposure & daily dealings with the Fund Manager and how he/she operates, but I do see your point, kinda like the bank employees just fresh out of college ringing up SSIA holders offering their advice where to invest your SSIA when it matures, of course their expertise extends as far investments schemes offered by that bank!!!!
 
bamboozle said:
Pretty broad sweeping comment, A qualified Accountant working in the funds industry can expect to earn at least 20% or more than he would in industry as an accountant & the level they work at gives them a lot of exposure & daily dealings with the Fund Manager and how he/she operates...
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Well Flax's friend is not a qualified accountant - he did a six month course in funds so he knows a little bit about the offshore funds industry but I'd bet anything he doesn't know the correct debits and credits required to account for a Mortgage Backed Paydown, or a swaption, or a hedge share class etc etc. The closest he'll get to talking investment strategy with an investment manager will be reading about it in the trade mags. Still, he's producing a NAV everyday and that NAV decides the value of joe public's investment in a fund so let's all hope he has a good manager!!
 
Working as a fund accountant or in fund admin while doing a masters or CFA would almost certainly be a step in the right direction.
 
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