Any helpful material for UK undergraduates (UPDATE: AM in the United Kingdom)

UPDATE: Any questions related toAMin the United Kingdom.

Hi everyone!

i will be applying for graduate positions (AM mainly) soon and was looking for a good guide or any other material related to SPECIFICALLY the United Kingdom job market. I will be a final year student in a semi-target (kinda) university with some good names on my CV. Also, is theWSOIBguide still relevant to UK (because of the different nature of interviews).

Thank you!

Comments (15)

4y
WSO Monkey Bot, what's your opinion? Comment below:

bruhbruh, have you checked out these or run a search:

4y
bruhbruh, what's your opinion? Comment below:

Bump

4y
1234567990, what's your opinion? Comment below:

Some reason I couldnt log-into my original account.

I got intoAMout of uni. Macro fund - semi target also.

If you're hoping to join in 18, you're a bit late to the party. For 2019, recruitment has/will start soon (firm dependent). First thing would be what's your experience?

In my view - I found the interviews and ACs on the buy-side a lot more random vs. sell-side (i.e. the guide wasn't super helpful) - each firm I interviewed with focused on and wanted something different. Do you know if you're targeting a specific asset class?

First thing I would do is decide which firms you want to prioritize - it's competitive out there and some firms (Aberdeen for example) don't hire out of university unless you have interned with them. Look at the types of strategies they run and what you're interested in. Second, get your CV to beAMfocused - emphasis on anything you have 'disrupted', in my experience whilst collaboration is important in the investment process, no-one is going to sit down and explain concepts to you - unless you ask. Emphasize any leadership, 'quant' (notice '' - as it depends on the firm/role). Main thing is conveying your interest in markets.

In terms of resources - I'm not sure what you mean? Do you want stats on comp? Job portals?

  • 3
4y
Whatever1984, what's your opinion? Comment below:

Do you have a role/asset class/vehicle desire?FISMAs are rather different from EquityETFs, and recommendations are going to be largely related to the role, asset class and vehicle you are targeting.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
  • 1
4y
bruhbruh, what's your opinion? Comment below:

I had an internship inFIresearch and enjoyed the analysis (fundamental I guess and some bond relative value analysis) and an internship in valuation where I did absolute and relative valuation of companies. Regarding equity research and credit research, I cannot really tell that I am interested in one more than another,however, I was leaning more towards credit research graduate roles. I feel underprepared now because until this month I haven't been thinking about vehicle and types of funds I want to work at (before it was just largest European AMs). Also, bear in mind that I will be applying forAMgraduate roles in the UK so I don't have that many options.

4y
bruhbruh, what's your opinion? Comment below:

Additionally, I am not sure about Active or Passive funds as the last two years the main idea I extracted from the news is that active fund management is shrinking due to higher fees and lower returns accompanied by the inflow of money into passive fund management. I might be overthinking but I keep "will my job/skills be replaced by AI at some point?What is going to happen in case of a bear market asETFswon't make money no more( am I wrong?)Will active fund management thrive again?" in the back of my mind.

  • 1
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4y
big1, what's your opinion? Comment below:

It sounds like you don't understand the area. That's okay, but good to know.

Both make money while there are allocations in the fund.ETF/index have lower fees so require higher AUM to make the same on a management fee basis, but there's no upside if you're good at analysis/stock picking/trading etc. You can only be as good as the benchmark in Passive.

In Active you are measured fairly or unfairly against benchmarks. Active is not going away but the wheat is being separated from the chaff. If you're shit, you'll get cut a lot easier today than 15 years ago. The money will be worse for the same output because today you need either to be MUCH better (which is MUCH harder) or to have a niche/edge.

If you are choosing between Active and Passive you're not really sure what you're doing, because they are totally different beasts. Active is closer to investment analysis / being correct / exploiting a system, whereas Passive is closer to selling a product which better tracks an index, or building a system which has minimal tracking error and no cost. Totally different ball games.

Offshore liffe
  • 5
4y
Budussy capital, what's your opinion? Comment below:

bruhbruh,

I am an equity analyst at a boutique firm from a target (top 5 UK uni). I initially didn't break in to UKAM(got rejected by Aberdeen, Schroders, Fidelity) so worked at an investment research firm (think mercers, towers watson). I basically trained myself in stock research ,e.g reading warren buffet, doingDCFvaluations, industry research etc and applied for loads of equity research jobs - landed an interview, impressed the PM with a trade idea I made and go the offer. I basically wold follow a similar approach unless you get into a good firm straight away.

  • 2
4y
bruhbruh, what's your opinion? Comment below:

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