|Author||Topic: Mutual Fund Analyst|
|I have an opportunity to become and Mutual Fund Analyst at a top-tier fund company. Any color on what these jobs can lead to and whether they are worth my time?|
|I've heard of investment management firms who call their Mutual Fund Accountants "MF Analysts." If this position entails accounting for fund activities and computing NAVs for funds then it is not a very desireable job. You will not learn much about the investment industry and the only saving grace about this position would be interaction with the portfolio management team (which is often very limited). A similar-type position that would offer more contact with the PM group would be portfolio administrator, which involves settling trades and working with custodians, but this position is equally undesireable. They are both operational/administrative positions that do not offer much upward mobility, exit opportunities or inv management experience.
However this is only my experience with what this title is at my firm and my occassional interaction with those who hold it, you really need to elaborate on what your responsibilities would be.
|Well, I don't know Mikey ... X
Your question includes "Mutual Fund Analyst" and "top-tier fund company" which both sound good to me. Isn't it a no-brainer?
Since you post this question on this forum, I assume you are also on a CFA path (or even already a charterholder) and generally people in this forum have their eyes set to get into Fund Management. And fund managers usually start as analysts or you want to be a fund manager directly without having to go through analysis process?
|I am a finance major, and a level I canidate, who worked in funds accounting. It was horrible, you don't learn jack. It does help somewhat with accounting though. Mutual fund analysis sounds boring, how much analysis can be done on a mutual fund. I got into structured finance where I work with the complex cash flows of mortgaged backed securities. much more interesting then working with mutual funds. oh yeah, that experience I got working with portfolio managers did nothing, they think of funds accounting people as operations.|
|Agree with earlier poster, 'Mutual Fund Analyst' sounds pretty vague.
If your job is calculating NAVs, factsheet numerics, etc, it is not a front office job, so don't consider it fund management (though if you're interested in middle/back office you may like it).
My job is front office analysis of closed, open and hedge funds which we, as a fund of funds, invest in. If 'Mutual Fund Analyst' analysis of performance, outlook, etc of funds then its a great 1st front office job - you'll get exposure to loads of different investment styles, and when you say "jump" all the managers of funds you're invested in will say "how high" - you'll get lots of good networking opportunity! Lots of work in itself as well as learning though - there are some really interesting developments coming out of behavioural finance/prospect theory from fund of fund analysis whihc are turning financial mathematics on its head (e.g. general, non Gauss-Markov dependent, risk-return analysis).
So, if it is the first, remember this is a mid/back office role. If it is the second it could be really interesting (but not something I'd like to do for 3 years +, personally). Good luck!