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Senior Portfolio Manager - EM Credit (London)
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Senior Emerging Markets Credit Portfolio Manager
We are excited to be working on a Senior Emerging Markets Credit Portfolio Manager seat for the London team of an ambitious, long-standing global hedge fund. They have excellent longevity across their senior team and have a host of long-term LP backing. They are looking for a seasoned EM credit investment professional that is an experienced risk-taker to help drive the growth of their London business.
Responsibilities
- Build and run a liquid EM credit book spanning sovereigns, quasi-sovereigns and corporate credit across hard and local currency instruments across LATAM, CEEMEA and broader global EM
- Identify and execute relative value opportunities across the EM credit universe, including curve trades, cross-market positioning, basis trades and spread relationships between sovereigns, quasi-sovereigns and corporates
- Construct and manage a market neutral book across cash and synthetic instruments including sovereign debt, corporate bonds, CDS (single-name and index), and other credit-related securities
- Develop and implement dynamic hedging strategies across CDS, interest rate options, futures, repo and FX, actively managing risk and market exposure across geographies and instrument types
- Monitor positioning, liquidity profiles and market technicals, adjusting the book in response to spread movements, macro developments and geopolitical dynamics across target markets
- Engage with sell-side trading desks, counterparties and market participants to maintain a strong read on market flows, technicals and pricing dynamics across the EM credit landscape
- Work closely with senior investment leadership on portfolio strategy, risk budgeting and thematic positioning across the EM credit universe
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Who we are looking for
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- Senior portfolio managers and experienced trading professionals with a track record running risk in EM credit, with strong relative value instincts across sovereigns, quasi-sovereigns and corporates in LATAM, CEEMEA and/or broader global EM
- Deep familiarity with EM credit market structure, pricing dynamics and instrument-level relative value across hard and local currency markets, as well as strong experience investing in event-driven situations
- Proven experience managing hedging programmes and expressing views through derivatives, including CDS, interest rate instruments, futures, repo and FX
- A strong grasp of market technicals, flow dynamics and the macro and geopolitical developments that drive EM credit spread behaviour
- Backgrounds in EM credit trading, relative value investing or macro-oriented credit strategies are particularly relevant; buy-side and sell-side profiles considered
- Established relationships across EM sell-side desks, trading counterparties and market participants viewed favourably
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Jessica, London
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