Onyx Alpha Partners
Portfolio Manager, Systematic Futures (SMA Launch | $750M Committed Capital)
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Portfolio Manager, Systematic Futures (SMA Launch | $750M Committed Capital)
Location: London
Work Pattern: Hybrid or Remote
The Mandate
A high-caliber PM/CIO is launching an institutional platform backed by $750M in initial SMA commitments. The platform is built around a pure systematic architecture, targeting high-capacity, liquid global futures markets.
We are actively engaging with Portfolio Managers who deploy fully automated, systematic strategies who are seeking to run independent books that have not made the dollar PnL requirements of the top multi-strategy firms.
Key Priorities & Investment Focus
- Pure Systematic Execution: Completely rule-based signal generation, portfolio construction, and risk management. No discretionary intervention layer.
- Orthogonality & Uncorrelated Alpha: The primary mandate is signal uniqueness. We are looking for strategies that demonstrate absolute orthogonality to standard CTA, momentum, and generic macro risk factors.
- Capacity & Execution Depth: Sourcing high-capacity signals designed to trade global liquid futures (Rates, FX, Commodities, Indices) with low slippage and automated execution architectures.
- Signal Durability: Proven research process for mitigating alpha decay, cross-validating models, and managing regime shifts across multiple market cycles.
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Scale & Capital Experience
Candidates must demonstrate proven comfort operating at institutional scale:
- Prior Scale: A track record of running live risk on allocations of $100M+ (with proven capacity to scale to $500M+ within a liquid futures universe).
- Execution Footprint: Demonstrated experience managing market impact and liquidity dynamics at significant contract volumes.
The Structural Edge
- Immediate Day-1 Scale: Backed by $750M in hard SMA commitments from day one.
- Pure Performance Economics: Formulaic revenue share negotiated directly, eliminating pod-level netting risk and internal capital competition.
- Operational Architecture: Existing institutional infrastructure, and risk reporting are handled at the platform layer, freeing the PM to focus 100% on signal research, portfolio construction and execution.
Ideal Profile
- The Metric: 3+ years running live systematic risk in liquid futures. Verifiable track record exhibiting a Sharpe ratio of >= 2.0 with clean return attribution and low correlation to standard benchmark factors.
- The Stack: Advanced production-level signal construction in Python, C++, or Julia, backed by rigorous automated execution pipelines.
- Background: Prior experience inside a top-tier quantitative fund, multi-strat pod, or elite proprietary trading desk.
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Compensation & Preferences
- Non-compete: Preference for >6 months.
- Compensation: £150k-200k salary plus a formulaic share of net revenue.
This is not a guarantee of compensation or salary; a final offer amount may vary based on factors including but not limited to experience, domain expertise, and geographic location.
At Onyx Alpha Partners, we are committed to connecting the most sought after talent in the financial world, to opportunities that expand the universe of unconstrained performance within their chosen discipline. If this opportunity aligns with your career aspirations, we encourage you to apply and explore the potential for growth and unparalleled success.
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