Associate Portfolio Manager (Quant)

Team

MIO takes a team-based approach to everything we do. Over decades, we have created distinctive investment frameworks, systems, and processes. We seek a colleague who can use those institutional capabilities to create value for our investors and assist us in continuously improving our capabilities.

A majority of MIO’s active assets under management are invested with external third-party managers (i.e., hedge funds and other alternative investment managers). These third-party investments span a wide range of strategy areas, including equities, global macro, quantitative, multi-strategy, credit, commodities, and fixed income.

A minority of MIO’s active assets are deployed through MIO’s own in-house macro trading strategies, which are supported by MIO’s deep macroeconomic and cross-asset class market research. Our asset class coverage spans global rates and government bonds, commodities, foreign exchange, and global equity and corporate credit indices.

In both activities, the portfolio management team is leveraged by MIO’s robust proprietary analytics platforms, in-house data, and experienced support team.

Position

In an apprenticeship with a Portfolio Manager (PM) and the public markets CIO, the APM will be principally responsible for assessing and managing hedge fund investments, including equity-focused quant funds, multi-asset class quant funds, and CTAs; additionally, a portion of the APM time might be dedicated to supporting MIO internal trading activities.

Primary responsibilities

• Support the CIO and PMs in managing a book of external hedge fund investments, adding alpha to MIO’s portfolios net of all assessed risks and capital charges. Key activities include:
  • Performing in-depth research to source new manager opportunities
  • Preparing analyses and shortlists of potential managers and providing evidence-based hiring (or firing) recommendations
  • Active, comprehensive monitoring of managers, including regular discussions to understand their market insights, alignment with investors, and business objectives
  • Keeping a detailed record of corresponding documentation for existing and prospective managers
  • Help manage the relationship with new and existing managers and negotiating fund investment terms
  • Operating within MIO’s proprietary investment frameworks and processes. Learning these frameworks will be an important early element of success in the role
  • Further building out MIO’s manager assessment frameworks, improving the team’s forecasts of each manager’s alpha generation potential, grounding those forecasts in concrete evaluations of each manager’s investment capabilities
• Support the CIO and PMs with special projects, including:
  • Developing and enhancing MIO’s frameworks for assessing external managers
  • Synthesize learnings from ongoing dialog with external hedge funds and MIO’s in-house research
  • Developing frameworks for forecasting long and short term expected returns for various hedge fund strategies
• Own selected elements of MIO’s internal macro trading research:
  • Collaborate with PMs and Investment Associates to analyze, refine, and optimize existing or new quantitative investment strategies
  • Manage a range of internal (automated) research chartpacks & analytics
• Support the CIO and PMs with special projects, including:
  • Developing and enhancing MIO’s frameworks for assessing external managers
  • Synthesize learnings from ongoing dialog with external hedge funds and MIO’s in-house research
  • Developing frameworks for forecasting long and short term expected returns for various hedge fund strategies

Beyond the primary responsibilities listed above, all successful members of the Investments team are often called upon to support the broader team by leading selected initiatives outside of their designated strategy areas.

Desired background

• 5-8 years of experience in quantitative / systematic investment management, ideally in the equity space 
• Desire to work in a values-oriented environment focused on maximizing returns for our investors
• A record of outstanding academic achievement and evidence of broad intellectual interests 
• Distinctive problem-solving and analytical skills; Mastery of the quant toolkit (statistical modeling, derivatives pricing. risk modeling, numerical methods)
• Proficiency with AI tools, including Cursor, ChatGPT, Claude, and agentic workflows; proficiency in Excel and PowerPoint also required
• Superior written and verbal communication skills; able to interact on an equal footing with some of the world’s top hedge fund managers
• Willingness to become a specialist focused on mastering the nuances of a single investment strategy and interest in owning responsibility for investment decisions
• Decisiveness based on thorough research and the ability to speak with conviction about an investment (or divestment) idea
• Strong work ethic and drive necessary to out-think the competition