Navigating entry into a career in investment and asset management can be tricky, this guide aims to equip you for the upcoming applications period.

Introduction to Asset and Investment Management

Asset and investment management refers to the managing of funds on behalf of individuals and companies. By investing funds and assets through an asset management firm, clients are ensured a diverse portfolio of investments which may include; stocks, commodities, bonds, mutual funds and real estate, as well as access to higher value privileged asset investments which are not ordinarily accessible to the individual investor. The function of these firms, put simply, is to maximise returns through risk-averse investing, long-term investments for their clients.

The Asset and Investment Management industry is securely poised as a focal point of the U. K’s financial services sector. With total sum of assets under management in the UK reaching £8.5 trillion in 2021, the UK has secured its position as the second largest centre of asset and investment management in the world after the United States. Further, whilst the onset of the COVID-19 pandemic has slowed economic growth nationally and globally; the asset management market is forecasted to grow to $145.4 trillion internationally by 2025. Due to the exponential growth enjoyed by the asset and investment management industry, the number of employees is also set to grow from the 40,000 directly employed by asset management firms in 2019- the lucrative success of the industry has firms attracting the best and the brightest cohorts of recent graduates.

Different roles available in Investment and Asset Management

Analyst is a graduate-entry level role, and entails research and evaluation of investments, an Analyst is responsible for the thorough analysis of potential investments. The role of an Analyst is typically to provide financial briefings and recommendations to an Investment Manager, which requires real-time awareness of capital markets, bonds, and stocks

Investment Managers are tasked with a multitude of roles; namely, choosing investments, and developing investment strategies in order to maximise returns. The Investment Manager creates the investment portfolios for clients, based on research done by the Analyst in order to ensure secure and profitable outcomes for a client’s investment positions. Whilst the Analyst researches, the Investment Manager executes. 

The Application Process

Those who are interested in a career in investment and asset management are encouraged to begin CV-building from the start of their degree in order to ensure that they are a competitive candidate throughout all stages of the extensive application process. 

Online Application Form: Typically, firms will require those interested in a graduate role to apply through an online form on their dedicated careers website. This will include filling out necessary information pertaining to your academic achievements, and employment history (if applicable). You may also be required to pen lengthy answers to motivational questions and competency questions which will likely ascertain your knowledge about the firm and its various operations. 

Tip: Do not lie! Be as honest and straightforward as possible, firms will use background recruiting checks before you are accepted onto any scheme/program in order to confirm the information you have given. If you embellish your CV, or falsify grades or experience- your application will be rejected immediately by the HR team.

Online Assessments: Having completed the online application form, you will likely be invited to take some numerical, verbal, and logical reasoning tests. Whilst these Psychometric Tests are designed to test a candidate’s competency in a spontaneous manner, practising for them is extremely important in order to ensure that you are familiar with the structure, and content of the questions and the tests. Practising will give you a distinct advantage over other candidates!

Tip: Keep a calculator and a notepad with you when sitting the numerical reasoning tests. Whilst the tests are time-limited, firms are more interested in your understanding of numerical problems and solutions- not your ability to complex mental maths under time restraints.

Telephone/Video Interview: By this stage, the firm knows your academic history, and know that you are competent enough to carry out the Assessment Centre, the video/telephone interview is a way for the firm to see how you think on your feet and to assess the level of knowledge that you have about the firm and the role. Typically, candidates will be sent a link to a Robotic Interview* which they are required to complete within a set number of working days, and which will consequently will be reviewed by a member of the firm’s Graduate Recruitment team. Whilst you cannot do any prior preparation; you are strongly advised to practice speaking in front of a camera, giving answers to question prompts regarding your motivations for applying for that particular role at that particular firm will ensure that you are somewhat prepared.

Tip 1: Most robotic interviews are conducted within time limits. Ensure that you have strong WiFi connection, and that you are ready before opening the link, because you may not get a break once the interview has commenced.

Tip 2: Wear appropriate clothing. Although a robotic video interview will make it seem as though nobody will view the footage- they will! Ensure that you make a good first impression by dressing in business or business casual attire.

Robotic Interviews are video interviews which are automated, candidates will be given question prompts on the screen and their answers will be recorded- to be viewed at a later date by the graduate recruitment team.

Assessment Centre: Ordinarily, Assessment Centres take place at the firm’s offices. However, owing to the pandemic- they have been taking place on online for the duration of 2020/21. An assessment centre day functions as a microscopic evaluation of you as a candidate for recruiters. Your ability to work in a team will be assessed through various group exercises, you may be asked to deliver a presentation, and often there are more psychometric and personality tests. These exercises serve one primary purpose- to test a candidate’s versatility. You will be assessed as part of the collective whole and as an individual- the key thing is to remain calm and be yourself.

Tip: In order to prepare for any written or group exercises- be sure to practice analysing business case studies and hone your analytical skills.

Final Round Interview: The final stage interview will most likely be with two or more partners. You may also be asked to deliver a presentation. Up-to-date knowledge on the firm and financial news is essential at this stage. The final interview is an opportunity for candidates to be assessed on their qualities.

Tip: Be yourself. The final interview is an occasion in which candidates can see if they feel comfortable in the office milieu of the firm, ask lots of questions!

Firm Profiles

PIMCO

PIMCO is an investment management firm operating globally, with a focus on active fixed income management. Since 1971, PIMCO has been a market-leading firm with $2.2 trillion worth of assets under management.

Baillie Gifford

Baillie Gifford is an investment management firm owned and run by the partners who are employed there. Whilst managing over $486.8 billion in assets, Baillie Gifford’s focus is on long-term, sustainable investment with profitable outcomes for clients. The firm is also unique in that they have no degree-subject requirements for the majority of their graduate programmes and internships.

Macquarie

Macquarie operates as a multinational investment bank and financial services firm. Macquarie currently manages over $A562.2 billion in assets; and is the world’s biggest infrastructure asset manager. Specialising in infrastructure, real estate, agriculture, equities, fixed income, transportation and private credit investment; Macquarie manages portfolios for companies ranging across several industries.

BlackRock

Currently situated as the world’s biggest asset manager, BlackRock manages over $9 trillion in assets in over 38 countries- securely placing it as the premier global asset management firm. BlackRock’s clients range the full spectrum of industries and institution- from private companies to governments. With an increasing focus on ESG investing, the firm has also launched The Sustainable Energy Fund which aims to invest 70% of assets in the securities of sustainable energy companies.

Schroders

Schroders plc., is a British asset management firm steeped with a precedent of over 200 years of consistent profitability for its wide array of clients. As a multinational firm, Schroders operates in 32 locations around the world and currently manages £575.4 billion in assets.

Interviews

Exclusive Interview: Charles Dart

B.A. Spanish and Management Finalist at UCL, Incoming Analyst at Barclay’s, Spring Week intern at Schroder 2020s, Spring Week Intern at Fidelity International 2021

Why Asset and Investment Management?

In allocating capital to economic opportunities, money and expertise work to enable businesses, economies and individuals around the world expand and improve their effectiveness. AM guides existing businesses to be more successful. It helps individuals attain and preserve wealth — which in turn creates opportunities for others. Not a day would go by where I wouldn’t feel relevant to our world. It is gratifying and empowering!

What advice would you give to incoming Freshers hoping to secure a Spring internship?

An immaculate one-page CV; write efficiently and quantise where possible. It’s only viewed for 10 seconds – make the most of it! If you get your foot through the door, great, but you must then keep it open: in your interview, prepare stories relating to common interview questions – what did you learn that’s applicable to the role? Interviews are all about connecting the dots in your own way. Most importantly, smile and breathe! If you’d like any further advice, please reach out on LinkedIn.

How did you stand out as a candidate when applying for internships?

I wasn’t afraid to take risks, challenging professionals on the house view. I was highly creative in final-stage assessments, going above and beyond. Most importantly, I was myself – then when you secure a role, you know that it was *you* they chose, not the person you tried to be and will have to continue being throughout your career. My experiences have been much more fulfilling as a result, especially through the COVID downturn. Trust yourself!

What was the most valuable thing you gained from your internships?

Undoubtedly the network. Ultimately, business is people. Of course, there are variations, but the general function of AM is the same across companies, so winning business – similar to securing a job – can be down to who you know and what they’re looking for. Think long term too: when senior, you may end up doing business with your internship cohort. Networking is invaluable at every stage of your professional journey. Start now! Finally, please know that rejection is inevitable with the average City rate being ~70 applicants/job. This is by no means a reflection of your self-worth or value, you just haven’t found the right opportunity yet. Learn, improve, move on. Good luck!

Bernice Ng

Second year B.A European Social and Political Studies at UCL, Spring Intern at Macquarie 2021, Female Business Series at Macquarie 2020

Why Asset Management?

• I am interested in developing the investor mindset and a more long-term strategic approach to investments.
• Infrastructure assets: It is fulfilling to know that I am building projects that can create a positive impact for the community. Most of the projects are greenfield in nature, which makes it even more exciting to see the progress the team can make.

What advice would you give to incoming Freshers hoping to secure a Spring internship?

• Know yourself WELL and be honest – people can tell when you are not being genuine and are merely rehearsing the ‘standard answer’.What are your strengths and weaknesses? What makes you unique? People like to work with interesting people! What are you interested in and what drives you? Enthusiasm goes a long way for someone just starting their career. At this stage, no one is expecting you to have all the technical knowledge but you need to show that you have done your research and you really thought this through. What skills have you acquired from previous activities and jobs? Remember it does not have to be finance-related! Don’t self-reject!
• Be open-minded: talk to people and learn about different perspectives. There may be opportunities that better suit you if you are willing to explore
• Interviews: Show that you are willing to learn and have a can-do mindset. The learning curve is especially steep when you are starting out so you need to convince the interviewers that you have the determination and resilience to do it. Be personable – At the end of the day, you will be spending a lot of time at work. Are you someone that people will enjoy working with? Can they have a conversation with you?
• CV – be specific regarding your impact and learning; quantify whenever possible; ask peers and seniors to have a look and give feedback

How did you stand out as a candidate when applying for internships?

• Be enthusiastic and prepared: read about the company and show that you are clear why you want to be there · Show that you have ideas to bring to the table: develop your commercial acumen through reading the news. What was the most valuable thing you gained from your internships?
• Embrace the challenges, they are what help you grow the most.
• Believe in yourself – If you put in the work and have a positive attitude, that will bring you far

What was the most valuable thing you gained from your internships?

• To embrace the challenges, they are what help you grow the most.
• To belief in myself – If you put in the work and have a positive attitude, that will bring you far
• How to enjoy the process and learn from others.
• Take initiative and do the task no one wants to do – if you put your hand up, people will remember.

How the Guild can help

• Join the Guild Academy for exclusive events and a library of resources throughout the academic year.
• Browse our Mentorship Programmes for the chance to gain valuable skills that will help you kickstart your career.
• Meet our sponsors, firms such as Macquarie and PIMCO, at our Flagship Events.

1. Introduction to Investment & Asset Management
2. Different roles available in Investment & Asset Management
3. The Application Process
4. Firm Profiles
5. Interviews
6. How the Guild can help

I. Introduction to Investment & Asset Management

The Asset & Investment Management industry is securely placed at the genus of the U.K’s financial sector.