The Group
Headquartered in Boston, the High Income & Alternatives group manages over $100 billion in assets under management (AUM). The group’s investments span “across the capital structure,” including high-yield bonds, leveraged loans, convertible bonds, alternative credit, structured credit, and equities. Fundamental research forms the backbone of the group’s investment process. The team allocates capital from various Fidelity funds and separately managed accounts (SMAs) for institutional and retail clients. Additionally, it oversees Fidelity Investments’ global collateralized loan obligation (CLO) issuance business, encompassing the USD Ballyrock CLOs and the EUR Grand Harbor CLOs, with a combined CLO AUM of $11 billion.
The Role
The Collateralized Loan Obligation (CLO) Research Analyst will provide fundamentally based investment recommendations and maintain and update written research reports/models for names under their coverage. Their recommendations will underpin the investment decisions and credit positions held by the European CLO business in the issuers within the analyst’s coverage universe.
The role requires a deep understanding of below investment grade capital structures, and the instruments typically issued by high yield issuers (broadly syndicated Leveraged Loans, Senior Secured Bonds, etc.).
Located in London, you will report to the Managing Director of Research for the European CLO business within Fidelity’s Global High Income & Alternatives business.
The Value You Deliver
Identify investment opportunities with an attractive/unattractive risk/reward profile within the CLO’s investment universe
Drive the CLO’s investment/disinvestment decisions within your coverage universe via regular communications with the Managing Director of Research and the CLO Portfolio Managers
Publish in-depth research and ad hoc reports, including same-day analysis of market-moving events
Build financial models, maintain and grow industry knowledge, establish relationships with borrowers
The Expertise and Skills You Bring
We are seeking candidates who have the following characteristics:
Strong academic background
7 or more years of relevant work experience in leveraged finance/alternative credit
Demonstrable modeling and company valuation experience
Strong written and oral communication skills
Certifications: