Portfolio manager assistants are responsible for monitoring potential investments, supervising portfolio attributes. They also help in maintaining relations with clients. Candidates who have completed their graduation recently can work as a portfolio manager assistant for two to three years before shifting to the investment research department.
This portfolio manager assistant career differs from firm to firm, and also responsibilities of the portfolio manager assistant changes and it largely depends on the type of firm you work. For example, assistant to high net worth portfolio work with clients most of the time, whereas institutional assistants mostly observe and evaluate portfolios. However, the main job of the assistant is to assist the portfolio manager.
Mostly, portfolio manager assistants are involved in the course of viewing for potential investments. They use common strategy of the investment product including market-capitalization, valuation multiples earnings growth to prepare a list of available stock in the market that fulfills the portfolio's norms. For an active portfolio, the screened list usually varies between 100 and 300 securities. Portfolio manager assistants also collect extra research information to start the procedure of examining the potential investment.
After the investments are done, the portfolio manager assistants observes the squaring off of the trades. They also ensure that the portfolio is appropriately updated and performance proceedings are correct. Many companies have a separate operations department which is responsible for reconciling trades and preparing client reports on a monthly basis. Small companies expect that assistants should also perform the operations activities.
Portfolio manager contributes in the client service procedure. However, time spend on the procedure depends on the type of client. The mutual fund portfolio manager may spend a lesser time on client service. Also, high net worth and institutional portfolio managers have a less number of clients. They meet their clients for one or two times in a year.
The portfolio manger should have a good knowledge of capital markets. He should be able to meet deadlines and should enjoy handling more than a project at a time. The disadvantage is that operational work is repetitive and seems boring after some time.