Job Title: Product Manager - Fixed Income Mutual Funds
Type of Company: I work for one of the largest asset managers in the country. We offer retail, institutional and separately managed accounts.
Education: BS, Finance, Boston University MBS, Finance, University of Connecticut
Previous Experience: I have been with the same mutual fund company for 15+ years: a financial analyst for seven, sales analyst for two, business writer for four, and I have been in my current job for the past two.
Job Tasks: I am responsible for implementing any changes made to our mutual funds. Prior to making any material changes to a mutual fund, any number of approvals are required and I am responsible for preparing and presenting the proposed changes to the requisite committees or boards.
If the mutual fund manager (or another person at the firm) would like to make a change -- in a fund's investment objective, for example, or the benchmark the fund is compared to -- it's my duty, first, to make sure I understanding what's being proposed and then to conduct some research to determine what the impact will be on the mutual fund shareholders (who actually own the fund; the management company I work for is essentially only a servant).
After I've prepared my analysis, I manage the preparation of the documents which will be used to discuss the proposed changes to the various company committees and mutual fund board trustees. All of these groups will have to analyze the changes and determine whether they're in the best interests of the shareholders. The fund board trustees, especially, are required to look out for the shareholders; if they approve the changes the changes will be filed with the SEC and shareholders will be notified. If not, though, nothing can be altered.
The groups we work with include the legal department, portfolio managers, the sales and marketing departments, the performance team, the shareholder services team and others.
Best and Worst Parts of the Job: The best part of my job, the thing about it I like is the people: the friendships I've made. No matter where you go, it's the people who make or break the job. You can make a ton of money, but hate the job because you do not like anyone (or no one likes you). You spend more time with your co-workers than with your family, so get into a mix of good people and you will likely be happy.
The worst part? Asset management is a very difficult business to be in right now -- lots of uncertainty and layoffs. The absence of prosperity and, more than that, of market optimism have made my job very trying.
1. Be certain that you have a real passion for business or industry. 2. Educate yourself. 3. Maintain a database of contacts and references throughout your career. 4. Do not burn bridges, no matter how badly you would like to. You never know who will know whom when you are interviewing for the next job, whether within your firm or outside it.
Additional Thoughts: Important qualities or traits: -- You need to be extremely flexible. Priorities can change very quickly at times, and you have to be able to juggle tasks and adapt to a changing environment.
-- You need to be well versed in technology. Computer systems and software programs are the name of the game.
--You need to continue to study and educate yourself to remain relevant especially when it comes to technology, terminology, business experience and understanding of the industry
These schools offer particularly quick info upon request, and we have written detailed profiles for each (click school names to see the profiles).
Request info from multiple schools, by clicking the Request Info links.
Baker College is proud to be the largest independent college in Michigan with the most focused approach to education and training available. With one of the highest graduate employment rates in the country, our mission is to help our students find meaningful employment.
Liberty University provides a world-class education with a solid Christian foundation, equipping men and women with the values, knowledge, and skills essential for success in every aspect of life.
Syracuse University’s School of Information Studies (iSchool) - The Original Information School - is proud of its position as a leader in the field.
Founded in 1911, Southern Methodist University (SMU) is a nationally ranked private university with seven degree-granting schools.
See What’s Possible When You Earn a Degree at Florida Tech 100% Online
Welcome to Argosy University
Argosy University offers doctoral, master's, and bachelor's degree programs to students through its eight colleges: College of Behavioral Sciences, Graduate School of Business and Management, College of Education, College of Health Sciences, College of Arts and Sciences, College of Creative Arts and Design, College of Clinical Psychology and Western State College of Law at Argosy University as well as certificate programs in many areas.
Saint Xavier University, Chicago’s oldest Catholic university, has a long history of educating students to prepare them for professional success and lay the foundation for personal fulfillment.
Earn your graduate degree online with Northcentral University.
Work toward your graduate degree with New England College Online.
Technology changes everything®
You’ve found Ashford University, where school comes to you
The inside stories from people actually working in the field.
Click a story title to show the story, and click the title again to hide it.
Career Stories are concise, real-world career overviews written by people relating their personal career experiences and wisdom. They provide invaluable insights and mentoring advice to students and career changers.
Most stories include:
Please also see our detailed information about Financial Managers, including: