Portfolio Manager
Job overview
At an international level portfolio managers work with a team of financial analysts and researchers, and are ultimately responsible for making the final investment decisions for a fund or asset-management portfolio.
In Zimbabwe portfolio managers actually play the role of financial analysts. They carry out financial analyses in consultation with research analysts and thereafter make sound investment decisions.
What do people do in this occupation?
Though portfolio managers' working days are diverse, they consistently check the status of financial markets and remain abreast of current events.
Portfolio managers meet regularly with their team of analysts and other relevant professionals, in order to discuss market developments and current events. Based on recommendations, portfolio managers make the ultimate decision regarding which securities to buy or sell or which investment to move into, be it money market, stock/equities market or property market.
Further to this, portfolio managers often meet with existing high-level investors, or potential investors. This customer relationship management ensures that clients keep their confidence in the portfolio manager.
Portfolio managers of large funds often write articles and conduct interviews with local and international financial media such as The Financial Gazette, The Herald and The Sunday Times.
While they often only give an overview of current economic conditions, appearing in the financial media provides publicity for the investment vehicles they manage as well as the firms they represent.
What kinds of people are suitable for this career?
Since a portfolio manager's day is dictated by the start of the financial markets, they generally tend to start work very early and often work late into the night. People who are interested in a career in portfolio management must therefore be willing to work long hours.
Though financially and intellectually rewarding, being a portfolio manager can be stressful and requires a person to be able to operate under pressure.
A portfolio manager must be highly analytical and have a love of financial markets as well as current events.
What qualifications are needed?
Professionals must work their way up to the position of portfolio manager.
Within a firm, portfolio managers are often promoted from the rank of research analyst, so working in this capacity is a great training ground.
There are however a few initial steps that can assist.
If you are an undergraduate student considering a career as a portfolio manager, it is advisable to take courses in business, finance, banking, economics, accounting and maths.
Many portfolio managers also have an academic background in computer science, engineering, physics or biology.
An MBA degree is also highly regarded while a professional designation such as Chartered Financial Analyst (CFA) or Chartered Alternative Investment Analyst (CAIA) can be useful.
