Portfolio Manager, Manager of Managers and Targeted Return Portfolio Manager, Manager of Managers and  …

LGPS Central Limited
in Wolverhampton, England, United Kingdom
Permanent, Full time
Last application, 19 Jan 22
competitive, plus LGPS DB pension scheme
LGPS Central Limited
in Wolverhampton, England, United Kingdom
Permanent, Full time
Last application, 19 Jan 22
competitive, plus LGPS DB pension scheme

About LGPS Central Limited

LGPS Central Limited is a fund management company, regulated by the Financial Conduct Authority (FCA), managing the pooled assets of nine Midlands-based local government pension funds.

With combined assets of approximately £40bn, and representing the retirement savings of over 900,000 scheme members across over 2000 employers, LGPS Central Limited’s Partner Funds are;

Cheshire Pension Fund, Derbyshire Pension Fund, Leicestershire Pension Fund, Nottinghamshire Pension Fund, Shropshire Pension Fund, Staffordshire Pension Fund, West Midlands Pension Fund, West Midlands Integrated Transport Authority Pension Fund, and Worcestershire Pension Fund.

LGPS Central Limited is owned equally by eight of the nine pension funds and is dedicated to the management of local government pension assets. The aim of the Company is to use the combined buying power of its Partner Funds to reduce costs, improve investment returns and widen the range of available asset classes for investment – all for the benefit of local government pensioners, employees and employers. We are also committed to fully integrating Responsible Investment and Engagement into all our investment processes.

The management of Local Government Pension Scheme funds is going through significant change, providing career-changing opportunities for those who have the relevant investment experience and who want to work within a company which values integrity, trust, transparency, diversity, fairness and partnership. LGPS Central Limited aims to be a centre of excellence and we seek candidates who share our values to help us achieve that goal.

We are a diverse and inclusive employer and would welcome interest from all sections of the community.

LGPS Central Limited is now seeking to hire a Portfolio Manager, Manager of Managers and targeted Return to be based either in the Wolverhampton or Matlock offices of LGPS Central Limited.

About the role

This role is part of the Investment Team within the Midlands and the successful candidate will report to the Investment Director, Manager of Managers and Targeted Return.

You will work within the investment Team to assist in analysing and monitoring the performance and investment activities of the external investment managers who are part of the Targeted Return Fund, which has an expected launch date of March 2022. This will require an in-depth knowledge of their investment processes and the role that they play within the Fund. You will also be encouraged to monitor the market for new strategies that might be useful for enhancing the key risk/return metrics of the Fund.

You will also be part of the team that provides oversight in respect of other internally and externally managed assets of LGPS Central, to provide assurance that they are being managed in a manner that is appropriate for the relevant mandate. This will include ensuring that all investments adhere to responsible investment and risk and compliance polices set out by the Investment Committee. 

If you are interested in applying for this role, please forward your CV with a covering letter to recruitment@lgpscentral.co.uk, quoting reference PMTR, highlighting your key strengths and experience in relation to the job profile.

Purpose:

This role is part of the Investment Team within the Manager of Managers and Targeted Return Team as a Portfolio Manager. Based in the Midlands (ideally in Wolverhampton or alternatively in our Matlock office), the successful candidates will report to the Investment Director, Manager of Managers and Targeted Return.

You will work with your peers both within your own team and across the organisation to support the build out of a professional, high performing investment function. Specific responsibilities will include the monitoring of both internal and external investment managers and a specific focus on the management of targeted return assets. You will ensure adherence to responsible investment and risk and compliance policies set by the Investment Committee within the investments for which you are responsible.

Need to do

  • Assist the Investment Director – Manager of Managers and Targeted Return in the management of Targeted Return assets and the oversight of both internal and external investment managers.
  • Assist the Investment Director and other LGPS Central staff in evaluating information that is relevant to the selection of external investment managers.
  • Under the supervision of the Investment Director, integrate, document and maintain the Investment Committee’s investment policies applicable to the asset classes/portfolios for which you are responsible, in addition to observing the house policy on Responsible Investment and Engagement.
  • Always manage risk and compliance in accordance with the Company’s Risk and Compliance Framework.
  • Assist in running investments in a manner which will deliver value for money for Partner Funds whilst seeking to identifying opportunities to improve the risk adjusted returns after costs in the Targeted Return Fund.
  • Provide documented assurance to the Investment Director, that the Targeted Return investments are managed within the parameters set in the Prospectus and the IMA, and in accordance with the Company’s policies.
  • Contribute to a rigorous culture of high performing, collaborative, research based and responsible investing across the Investment Team.
  • Be an ambassador for LGPS Central within the investment community, Partner Funds and with regulators and key stakeholders.
  • As directed by the Investment Director, implement the creation of new external mandates or the retender or consolidation of existing external mandates.
  • Always follow the manager selection, appointment, monitoring, reporting, retender and transition framework (the “Manager of Managers Process”) set by the Investment Director, Manager of Managers and Target Return.
  • Compile performance reports and associated commentary.
  • Carry out financial, legal and commercial due diligence at the request of the Investment Director.
  • Ensure that knowledge of all investment managers that are appointed by LGPS Central, or on which manager monitoring is carried out, is up-to-date and comprehensive enough that their investment performance and other aspects of their portfolio management can be judged in the context of what might reasonably be expected.
  • Take ownership of tasks the Investment Director asks you to manage, for example, regulatory work, investment analysis, manager selection, portfolio reporting, investor relations and strategy development.
  • Under the direction of the Investment Director, deliver a transparent, auditable and repeatable manager selection and manager monitoring process.
  • Perform any tasks commensurate with the role.

Need to know

Skills/Knowledge/Experience/Competence:

  • Experience of investment/financial analysis within investment markets, preferably gained with an asset manager or other financial institution.
  • Demonstrated skill in providing oversight and monitoring of investment managers, including documenting the manner in which the monitoring has been carried out and the level of comfort provided by the monitoring.
  • High degree of professional ethics, integrity and gravitas.
  • Excellent judgement and analytical skills.
  • First class interpersonal, collaborative and communication skills.

Qualifications

  • Relevant degree and/or professional qualification.
  • IMC gained and working towards CFA qualification or similar/or relevant investment experience would be a plus. 

Values: 

  • We are a great place to work
  • We are Client Focus ed
  • We are Inclusive
  • We are Ambitious

Behaviours

  • Open, fair and transparent, acting with integrity.
  • Doing the right thing.
  • Honest and trustworthy 
  • Empowered in making right decisions 
  • Collegiate and Collaborative.
  • Valuing and treating everyone equally.
  • Listening to individual ideas to support growth.
  • Constructively challenging the status quo.  Accountability for results and delivery 
  • Friendly, honest and supportive

LGPS Central Limited provides an exciting, supportive and family-friendly working environment, and we are committed to helping our people achieve their full potential and a healthy work-life balance. We are an inclusive employer and offer equal opportunities to all regardless of an individual’s age, disability, gender identity, marriage or civil partnership, status, pregnancy or maternity, race, religion or belief, sex and sexual orientation.

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