Career in asset management opens door to global experience

Fidelity Investments, founded in Boston in 1946, was one of the first global fund managers to set foot in Asia. The largest private company in asset management, Fidelity came to Hong Kong in 1981 and now has a presence in Taiwan, South Korea, Singapore, Australia and Japan.

As an asset manager, Fidelity serves both retail and institutional clients. Retail investors can invest in the mutual funds Fidelity manages while corporate clients can benefit from Fidelity's investment management of their assets as well as their retirement funds.

The company is optimistic about the year ahead.

'We foresee the business will experience growth in the new year and we shall be increasing our headcount cautiously to meet growing demand,' said Jenny North, Fidelity Investments' director of human resources, Asia Pacific.

The firm is tapping talent for its investment team, which is responsible for looking after fund portfolios and making investment decisions to ensure long-term growth of portfolio assets.

A new entrant can join as a research analyst dedicated to conducting extensive research and analysis, and making stock recommendations to fund managers.

Analysts need to meet the senior management team of the company in which they are interested in investing to understand its business objectives and performance. They are also required to carry out qualitative and quantitative research about competitors and the market to make appropriate investment decisions.

Moving upwards, analysts will be gradually promoted to roles such as country fund manager or portfolio manager, who decide which stocks to buy and sell for their portfolios. It usually takes more than five years to reach this level. After more years of experience, the manager can then advance to either a research head or chief investment officer position.

To find the right people for its investment team, the company relies heavily on its campus recruitment campaign to attract MBA graduates. The company likes to grow and groom leaders internally.

'We tend to promote investment professionals from within. It is quite unusual for us to hire mid-career executives in the investment team,' Ms North said. This is partly because Fidelity wants to ensure that its managers are at ease with its stock-picking philosophy.

Once executives have been hired, the company conducts an in-depth orientation to familiarise them with its organisational culture. In addition, training resources are provided to aid further career development.

Besides practical experience and knowledge, the company strongly emphasises some key qualities - intellectual curiosity, attention to detail and, most of all, passion for the investment market.

'They do need to have a passion for what we are doing - investing. They must like picking stocks,' Ms North said.

In addition, creativity is crucial. 'We need them to think out of the box and be willing to accept and adapt to change. We all should be able to embrace new ideas and ways of doing things.'

Working with an international company like Fidelity, staff can benefit from a multicultural and global setting.

'It is very seldom that our professional staff spend their entire career in one country,' she said. 'It is a very rewarding experience for all of us. We are proud of our reputation, as we conduct all our business with the highest of ethical standards and with great integrity. We only do what is right for our investors.'