Careers in Finance:Careers in Finance:Asset ManagementAsset Management

Kurt MartinsonKurt Martinson01.16.200801.16.2008

Overview Overview What is Asset What is Asset

Management?Management? Sub-classifications of AM. Sub-classifications of AM. Areas within AM.Areas within AM. Day in the Life.Day in the Life. How to get in?How to get in? Skills needed.Skills needed. Interview Prep.Interview Prep. Tools/Resources.Tools/Resources.

What is Asset What is Asset Management?Management?

Investment & Wealth Management Investment & Wealth Management solutions.solutions.

Clients: Clients: Institutions, high net worth clients, Institutions, high net worth clients, retail investors, pension funds, governments, retail investors, pension funds, governments, foundations.foundations.

Asset Classes: Asset Classes: Fixed Income, Equities, Fixed Income, Equities, Hedge Funds, Private Equity, Real Estate, etc.Hedge Funds, Private Equity, Real Estate, etc.

Asset Management Asset Management BranchesBranches

Asset Management

Investment Management Private Client Services Private Banking

Areas in AMAreas in AM Client Side v. Alpha Side:Client Side v. Alpha Side:

Client- Client- bringing in new business.bringing in new business. servicing current clients.servicing current clients. explaining strategy & products.explaining strategy & products.

Alpha (Analytics)-Alpha (Analytics)- construct portfolios.construct portfolios. directly trade securities.directly trade securities. monitor daily accounts.monitor daily accounts.

Typical Career PathTypical Career Path

2-4 Year Analyst Program Graduate School Associate Level

Portfolio Manager

Hedge FundManager

James MadisonUniversity

Analyst Job OptionsAnalyst Job Options Investment Analyst:Investment Analyst:

financial analysisfinancial analysis prepare client communication materialsprepare client communication materials assist PM in developing trade flowsassist PM in developing trade flows review comparisons of account positionsreview comparisons of account positions

Research Analyst:Research Analyst: work with buy-side analystswork with buy-side analysts analysis & views on products, securities, analysis & views on products, securities,

industry sectors, etc.industry sectors, etc.

Analyst Job OptionsAnalyst Job Options Quantitative Analyst:Quantitative Analyst:

build models for wide range of products.build models for wide range of products. provide metrics to PMs to help in portfolio provide metrics to PMs to help in portfolio

construction.construction.

Client/Marketing Analyst:Client/Marketing Analyst: product & services positioning.product & services positioning. prepare client presentations.prepare client presentations. perform competitive analysis.perform competitive analysis. respond to client inquiries.respond to client inquiries.

Day in the Life...Day in the Life... 06:15am-06:15am- Wake up to get ready for work. Read both the WSJ & Wake up to get ready for work. Read both the WSJ & Financial Times on my way in. Financial Times on my way in. 07:30am-07:30am- Just getting into the office; look over Research broker reports. Just getting into the office; look over Research broker reports. 09:00am-09:00am- Morning meeting to discuss news, results and anything else affecting Morning meeting to discuss news, results and anything else affecting client portfolios.client portfolios. 10:00am-10:00am- Meet with colleagues to discuss business issues regarding the team. Meet with colleagues to discuss business issues regarding the team. 11:00am-11:00am- Meeting with Hedge Fund which deals in international equities that Meeting with Hedge Fund which deals in international equities that some clients hold.some clients hold. 11:50am-11:50am- Take call from Research Sales guy inviting me to lunch later that Take call from Research Sales guy inviting me to lunch later that week with one of their corporate clients. Shares look expensive on week with one of their corporate clients. Shares look expensive on first look so I decline.first look so I decline. 12:45am-12:45am- Lunch with a potential investor. Lunch with a potential investor. 02:30pm-02:30pm- Meetings until 5:30 with teams and researchers discussing views on Meetings until 5:30 with teams and researchers discussing views on the market and portfolio strategies.the market and portfolio strategies. 5:30pm-5:30pm- Attend presentation being put on by Jersey trust company, one of Attend presentation being put on by Jersey trust company, one of our biggest clients. our biggest clients. 7:30pm-7:30pm- Pick up some research, return phone calls and head home on the train. Pick up some research, return phone calls and head home on the train.

Three SkillsThree Skillsfor AM for AM

QualitativeQualitative

QuantitativeQuantitative CommunicationCommunication

InterviewsInterviews Prep Work:Prep Work:

Be well read on the markets and the economy Be well read on the markets and the economy (WSJ, Barron’s, Financial Times etc.)(WSJ, Barron’s, Financial Times etc.)

Have your “Tell me about yourself” statement.Have your “Tell me about yourself” statement. Know three level above what your resume states.Know three level above what your resume states.

Know the job you are applying for.Know the job you are applying for. Why that particular company? Why that particular company? Why is that position a good fit? Why is that position a good fit?

Have thoughts on economy ready.Have thoughts on economy ready. Have pitch for securities that you are bullish on.Have pitch for securities that you are bullish on. How do you value a company?How do you value a company?

Tools/ResourcesTools/Resources JPMorgan Careers; Asset JPMorgan Careers; Asset

Management.Management. Vault Guides: Finance; Investment Vault Guides: Finance; Investment

Mngt.Mngt.