INVESTMENT MANAGEMENT: BUSINESS AREA
with mainstream asset management houses, which
MARK PARSONSON, CFA
are more focused on liability-driven investing. One
Title: Client Investment
area where multi-managers can off er real return for
Strategist
money is with a holistic approach to investing,
Current employer: SEI
taking on more fi duciary responsibilities, suggests
Investments one industry participant.
University: London
School of Economics and
OPPORTUNITIES
Political Science
For candidates thinking about entering the
Degrees: Bachelors in
Economics
industry, there are a variety of careers to be had,
Professional
explains Patrick Disney, managing director of SEI’s
qualifi cations: CFA
European institutional business. “On the
investment side, it’s very much about portfolio
construction, theory, analysis of returns, and
everything to do with correlations. You need to be
What attracted you to this career path?
able to analyse each of the diff erent markets where
The ability to apply my economic and fi nancial background
the risk and returns are. Most people on our
to ensure clients’ assets are directed towards successful
investment team are CFAs, or they take the CFA
outcomes, was a key consideration and an investment-
once they start here,” he says.
based, client-focused role was ideally suited to this.
Candidates who want to enter the business
must also be comfortable making decisions that
What are the major challenges you face in
will deliver over the long term. Th ey must be able
your position? to research broader asset classes, but also develop
The challenge is ensuring that clients’ needs are balanced skills in portfolio blending. “You need people with
with their sophistication in order to defi ne suitable quant skills. Even when we have the most
investment strategies. Keeping the client focused on the subjective decisions, based on knowing star
long-term is also a key challenge, particularly in volatile managers and believing in what they do, every
markets. manager will get quant support,” says Munroe.
Disney believes in the industry will continue to
Are there certain skills you would consider useful for
grow, despite performance concerns. “Th e black
your job?
swan events of the last 18 months have aff ected
An intimate knowledge of fi nance is essential. The CFA is
everyone. While some of the more active
ideal in providing a basis for this understanding. In addition,
management approaches have been having
constant research and development is required to ensure
diffi culties, multi-managers have produced more
that you are fully appreciative of the market environment
diversifi ed returns,” he says.
Cg
and able to provide clients with the most up-to-date and
relevant information.
“On the investment side, it’s very
How do you think the role you’re in now will change over
time?
much about portfolio construction,
As clients become more sophisticated and solutions more
refi ned, this role will become increasingly challenging. A
defi ned focus on individual products and techniques will be
theory, analysis of returns, and
essential as the market becomes increasingly specialised.
everything to do with correlations.
Do you have advice for someone intending to pursue the
same career path?
You need to be able to analyse each
Bring a strong sense of ethics to a role such as this.
Developing, recommending and supporting investment
of the different markets where
strategies has signifi cant and real effects for the client.
This insight should always be kept fi rst and foremost in
mind.
the risk and returns are”
Patrick Disney, SEI Investments
WWW.CFAUK.ORG CAREERS GUIDE 2009 29
112-29 investment management.indd 292-29 investment management.indd 29 222/11/08 12:39:522/11/08 12:39:52
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100