Portfolio Manager, Long/Short Credit

Wellington Management Company, LLP
Boston, USA
29 Sep 2021
21 Oct 2021
Job Function
Industry Sector
Finance - General
Employment Type
Full Time

Wellington Management offers comprehensive investment management capabilities that span nearly all segments of the global capital markets. Our investment solutions, tailored to the unique return and risk objectives of institutional clients in more than 60 countries, draw on a robust body of proprietary research and a collaborative culture that encourages independent thought and healthy debate. As a private partnership, we believe our ownership structure fosters a long-term view that aligns our perspectives with those of our clients.

We are transitioning to a hybrid work environment where both remote work and the office play a critical role. Our vision is a future where all employees are empowered to work flexibly to drive the best outcomes for our clients. Flexible work is a mindset and a core value. Our employees are encouraged to work remotely two days a week as a standard practice and will have flexibility in terms of working hours.

Wellington has a large and growing presence in alternative credit investing. Total platform assets are currently US$4.5 billion across multiple underlying funds, including our flagship long/short credit hedge fund called Ellbrooke. Ellbrooke (AUM of US$1.1 billion) utilizes a multi-manager process consisting of four experienced, diverse, and skilled portfolio managers, who have over 100 years of cumulative trading experience. The Fund employs a fundamental research-based strategy to identify attractive long and short situations in liquid, public credit markets across a cycle. This process is multi-strategy, whereby specialist portfolio managers are given independence and autonomy to identify opportunities across their areas of expertise including performing credit long/short, capital structure, catalyst situations, liquidity-driven dislocations, and tactical opportunities.

This role will reside within our broader Alternative Investments group. This group consists of various portfolio managers and analysts that take risk and contribute various strategies (e.g., hedge funds, private equity) that make up our approximately $31 billion AUM alternatives platform.

To ensure we continue to exceed our clients' investment expectations, we are seeking to recruit an experienced Portfolio Manager to join our Ellbrooke team to be based in Boston. Specifically, this individual will provide directional and non-directional credit market expertise and a clear skill set in trade construction and risk management. The ideal candidate will be fundamentally research driven with a focus on corporate credit, bonds, single-name CDS, single-name equities and various derivative instruments for active implementation and hedging purposes. The PM should have an event-driven lean on their risk taking and be able to work collaboratively with team analysts for idea generation.

The following essential skills are required for the role:
  • Investment acumen and track record - The Portfolio Manager will have strong long/short credit expertise and the ability to invest across sectors, asset classes, and geographies with trading flexibility to tactically shift exposure as market conditions change. The PM will have a demonstrated track record on a material capital base, of expressing idiosyncratic credit views in the market that translate into positive alpha in portfolios. The ideal candidate must exhibit a deep fundamental, research oriented, bottom-up approach, supported by a strong investment philosophy and process. Furthermore, the Portfolio Manager will be able to implement those ideas through an analytical and detailed approach.
  • Good collaboration skills - The successful candidate will enjoy being an individual contributor within a collaborative team and embrace the benefits of overlapping lines of idea generation. The Portfolio Manager will build strong trusting relationships internally with colleagues. The ability to take risk and challenge investment views is critical, as is the humility to admit mistakes and a desire to learn from others; the Portfolio Manager must recognize the benefits of diverse perspectives. The ability to communicate (both verbally and in writing) action-oriented opinions clearly and with conviction and contribute to an open investment dialogue is important.
  • Growth mindset - The flexibility and openness to continue learning, evolving and growing as an investor is required. The successful candidate will have a global perspective and creative approach for thinking about innovation and the next generation of the investment industry and evolution of credit markets.
Additional qualifications and characteristics include:
  • A minimum of seven years of credit portfolio management experience with an attributable hedge fund or long/short track record on a material capital base
  • Strong, well-articulated investment philosophy and process supported by rigorous analysis;
  • A track record as a risk taker that demonstrates clear investment skill;
  • Comfort taking risks within a strong risk management framework;
  • Ability to effectively communicate complex investment ideas and strategies to both internal peers and external clients;
  • Intellectual curiosity and flexibility in thinking;
  • Fiduciary and client-oriented mindset; and
  • Excellent academic credentials, an MBA/CFA or advanced degree will be viewed favorably.

Portfolio Manager, Long/Short Credit

280 Congress

As an equal opportunity employer, Wellington Management ensures that all qualified applicants will receive equal consideration for employment without regard to race, color, sex, sexual orientation, gender identity, gender expression, religion, creed, national origin, age, ancestry, disability (physical or mental), medical condition, citizenship, marital status, pregnancy, veteran or military status, genetic information or any other characteristic protected by applicable law . If you are a candidate with a disability, or are assisting a candidate with a disability, and require an accommodation to apply for one of our jobs, please email us at GMCANINQ@wellington.com .

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