Requisition ID: 272013
Purpose:
As a member of the Equity Income team within 1832 Asset Management L.P., the Portfolio Manager, Equity Income (PM) is responsible for providing oversight, guidance, and expertise in portfolio construction and analysis for income-oriented equity mandate. The PM will be responsible for investing assets in their respective funds/mandates, with a focus on Canadian, North American and/or Global equity markets, emphasizing dividend-paying companies, total return, downside protection and long-term capital appreciation. The PM will be responsible for implementing equity income strategies within their portfolios and managing the day-to-day portfolio trading.
The PM will be responsible for selecting securities for portfolios managed and/or comanaged, as well as helping to recommend financial stocks for the team as a whole.
The PM will manage and/or co-manage several equity income mandates that may span multiple distribution channels within Scotiabank. As a result, the PM will be required to engage in marketing and client-facing activities to support these various distribution channels and will collaborate with channel representatives to ensure investment alignment with the objectives, risk profiles and income requirements of the various mandates.
Broadly, the PM will contribute to 1832 Asset Management by sharing and debating investment ideas within the Equity Income team as well as across the broader investment management team. The PM will collaborate with other PMs, associate PMs and portfolio analysts in the team.
Major Accountabilities:
An Equity Income PM is responsible for the following:
• Determining and implementing investment strategies for their respective equity income funds/mandates, based on investment objectives, income requirements, risk parameters and requirements determined in partnership with the various Bank distribution channels;
• Researching and analyzing market trends, sector dynamics, interest rate conditions, dividend sustainability, valuation and company fundamentals as they relate to equity income opportunities;
• Preparing recommendations on equity income investment strategies and securities, factoring in multiple sources of information, including but not limited to:
o Corporate reports, earnings updates and dividend policy disclosures
o Industry publications and sector research
o Sell-side and institutional research, including valuation, yield and cash-flow analysis
o Management interviews, investor presentations and engagement feedback
• Analyzing, selecting and monitoring dividend-paying and income-oriented equity investments to ensure alignment with investment strategies, mandate objectives and risk parameters;
• Maintaining the funds' asset positioning, sector exposure, yield profile and risk characteristics, adjusting where necessary;
• Researching and identifying new equity income investment opportunities, including companies with sustainable dividends, dividend growth potential and attractive total return characteristics;
• Engaging with corporate management teams, investment bankers and analysts where an investment exists and/or an opportunity to invest exists, with emphasis on capital allocation, balance sheet strength, cash-flow durability and dividend sustainability;
• Attending and actively participating in various internal investment meetings, including weekly Partners meetings and semi-annual Offsite meetings;
• Assisting in Marketing efforts, including presentations to clients and the production of Marketing materials;
• Collaborating with the 1832 Asset Management investment management team, including Portfolio Managers, Associate Portfolio Managers, Analysts and Traders, with an interest in and the ability to share equity income investment ideas across the broader investment management team.
Education/Work Experience/Designations:
A successful Equity Income PM will possess the following skills and experience:
• Undergraduate degree in Accounting, Finance, Commerce, or related field;
• MBA/Graduate degree would be considered an asset;
• CFA or equivalent designation completed;
• Minimum 10+ years of experience in portfolio management, equity research and/or equity income investing;
• Registered, or the ability to be registered, as a Portfolio Manager;
• Superior analytical, evaluative, and problem-solving abilities;
• Strong quantitative abilities, including knowledge of Excel and other financial software packages, as required;
• Excellent mathematical abilities, interpretative and analytical skills, with knowledge of accounting an asset;
• Proven ability to collaborate with and work effectively as part of a team of investment professionals;
• Superior knowledge and understanding of the portfolio management process, investment policy, equity valuation, dividend analysis and risk management;
• Ability to work independently;
• Self-motivated and results driven;
• Strong presentation skills, with the ability to communicate to various audiences as required.
• Coachable and ability to adapt
Working Conditions:
This is a high-paced, stressful environment that can be unpredictable. Incumbents should be prepared to respond to market activity, company-specific developments, dividend announcements and changing client or channel needs.
Location(s): Canada : Ontario : Toronto
