Succeeding as a fundamental or quantitative analyst requires a unique set of skills and abilities. The best senior analysts will demonstrate a consistently high level of accuracy in their work product, acute attention to detail in their research and analysis, a strong sense of urgency, creative idea generation and an intuitive understanding of their investment portfolio.
But while these skills set a solid foundation for consistently generating strong returns, they aren’t enough to succeed at the pinnacle of the investment profession – as a portfolio manager.
High-performing portfolio managers must exhibit mastery in the skills needed to succeed at the analyst level, but the key to their success is the ability to also effectively manage people and risk.
Oftentimes, individuals with strong investment abilities don't inherently have great management competency. They’ve honed the skills needed to analyze company and stock performance with hawkish precision. But perhaps they haven’t yet learned how to encourage, motivate and train others. And they may not be able to balance the simultaneous demands of stock picking, managing risk, trade execution, building a team, hiring new talent and developing junior employees.
Training and mentorship are critical in helping to develop high-performing analysts into successful portfolio managers. And the importance and value of career development programs is increasingly being recognized by external, as well as internal, stakeholders. Indeed, 9 out of 10 investors believe that a fund manager’s talent management program is important when making investment decisions, and over half indicate that the quality and substance of the talent program are critically important to their investment decision.
At BAM, we encourage development and career growth at every level, which includes giving senior analyst talent a pathway to successfully run their own portfolio. We launched our Anthem program in 2016 with the goal of providing the next generation of high-performing portfolio managers with the coaching, development and support needed to successfully manage people, risk and trading.
As part of our Anthem program, we vet and onboard high-potential senior analyst talent that are ready to advance to the next phase of their investment career, and we work with them to develop the skills needed to lead an effective, top-performing investment team.
A typical program hire will have 7 to 10 years of buyside investment experience. We offer full portfolio manager economics with robust day-one capital allocations, albeit within a risk framework that is tighter than veteran portfolio managers – and learn as they go.
Participants receive proactive mentoring from our equities, risk and data and technology teams, as well as senior BAM leaders and consultants in the areas of portfolio construction, risk management, effective communication, hiring and training of investment talent and more. The goal is to develop a full-fledged portfolio manager in 12 to 18 months with adequate experience in a market-neutral investment style that balances bullish and bearish bets.
We believe that with adequate mentorship, training and development, a strong stock picker can learn how to effectively manage people and manage risk and trading. Our track record of success with the Anthem program has been extremely strong – a total of 35 high-performing individuals have entered the program, and the cumulative program PnL since inception is over $400 million. And our level of care and attention is unmatched – we give participants genuine responsibility at an earlier level than anywhere else and better guidance along the way.
To learn more and find out if you qualify for BAM’s Anthem program, visit our Careers page.