Fund Manager, Fixed Income

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Sector: Banking and Financial Services
Role: Manager
Contract Type: Permanent
Hours: Full Time

At M&G, our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life, and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients and superior shareholder returns.

Through our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

We will consider flexible working arrangements for any of our roles and also offer workplace accommodations to ensure you have what you need to effectively deliver in your role.

M&G Investments is recognised as one of Europe's leading fixed income investors with one of the largest credit research teams in the industry and a long history of actively investing across both public and private markets. The Fixed Income Team manages a diverse range of fixed income strategies for external institutional clients (such as pension schemes, insurance companies, banks, family offices, and others) and also for the internal insurance client (the Life business of M&G, comprising with-profits and annuities businesses).

The Fund Manager will have responsibility for co-managing internal client portfolios, supporting the development and growth of the Life business, in addition to supporting the take on of new external client business as may be required.

Key Responsibilities:

• Day to day co-management of a range of segregated fixed income credit funds, contributing to investment decision-making processes and the implementation of trades to achieve diverse mandate objectives.
• Analysing public and private credit investment opportunities for value and suitability in the context of specific mandate requirements and objectives.
• Co-management of hedging strategies for the management of currency, interest rate, and inflation rate risks; structuring and implementing derivatives as required.
• Performing wide-ranging analysis, that may include discounted cashflow assessment, determining asset eligibility under Matching Adjustment guidelines, and relative value assessment (both economic and within a regulatory capital framework).
• Helping to grow M&G's Life business (including BPAs and other products) by providing input to various parts of the new business process, from pricing to asset take on.
• Providing input to the structure of new investment mandates and the construction of model portfolios as required.
• Responding to client queries and reporting on such areas as investment transactions, asset pipeline, sector, and asset developments.
• Reporting and presenting to internal client management and to external stakeholders, including pension scheme trustees and their advisors.
• Engaging with a wide range of teams and business areas across M&G.

Key Knowledge, Skills & Experience:

• Strong understanding of fixed income markets and security types. Experience of private fixed income assets and property-related assets is desirable.
• Experience in analysing credit investment opportunities and transacting (or as a minimum, making recommendations on) credit investments.
• Usage of derivative instruments for hedging purposes within an ALM framework. A good understanding of the concept and application of cashflow matching.
• Knowledge of the pensions de-risking market, annuities, and insurance company regulation (e.g. Solvency UK, Matching Adjustment).
• The candidate would most likely have existing fund management experience in an SMCR regulated role.
• University degree (or equivalent).
• CFA Charter holder (or relevant further degree or professional qualification).
• Competency with front office systems (Aladdin, Bloomberg).
• Technical skills in the financial modelling of complex data.
• Proactivity and a positive attitude to problem-solving.
• Strong communication skills.
• A team player and able to build good relationships internally and externally.

Work Level: Manager or Expert

Recruiter: Emily Northcott

Closing Date: 30th March 2025

We have a diverse workforce and an inclusive culture at M&G plc, underpinned by our policies and our employee-led networks who provide networking opportunities, advice, and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability, or long-term condition, we are looking to attract, promote, and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.

M&G is also proud to be a Disability Confident Leader, and we welcome applications from candidates with long-term health conditions, disabilities, or neuro-divergent conditions. Being a Disability Confident Leader means that candidates who meet the minimum criteria of a job will be offered an interview if they 'opt in' to the scheme when applying.

If you need assistance or an alternative means of applying for a role due to a disability or additional need, please let us know by contacting us at: