Credit Analyst- Autos

Job content

Department Description

About the opportunity

At the centre of Fidelity’s success is our approach to managing money, which the philosophy unchanged since we were founded. Our approach places first-hand, detailed research at the core of our decision making, ensuring that every security – whether equity or bond – is investigated in detail before being included in our funds.

Global Investment Research (GIR) is a newly formed department, bringing all core investment research functions in Fidelity under one team. The industry-leading research team comprises equities and fixed income investment professionals, supported by a global research specialist function. GIR is expanding its remit into private markets, working to help build out a private credit investment capability, and now moving further into pre-IPO and unlisted equities. The GIR function works alongside our real estate, macro, systematic, quant and multi-manager research functions. Core to all investment activities is a passion for sustainable investing. Fidelity runs a fully integrated sustainable investing model - with research investment professionals owning the deployment of our industry-leading forward-looking proprietary ESG assessment methodology.

Fidelity International’s Fixed Income Investment team manages client funds across the globe. The group comprises expertise in Portfolio Management, Trading, Quantitative Analysis, Credit Analysis and Investment Directing. The Fixed Income group are based in London, Continental Europe, Hong Kong, Shanghai and Singapore.

Its Investment Philosophy Includes

• A belief that investors must look beyond traditional sources of alpha.
• A team-based strategy that combines distinct disciplines to consistently identify a wide range of investment ideas with the highest probability of success.
• A commitment to proprietary research that provides enough ideas to build diversified portfolios.
• A quantitative team that is integral to identifying alpha and providing rigorous risk analysis.
  

Purpose of the Role

Fundamental Credit Analysts perform in-depth analysis to evaluate the creditworthiness of an issuer and assess the relative value of its bonds. With additional input from the trading and quantitative research teams, analysts communicate their recommendations to the portfolio managers, via written and verbal means, and actively seek to influence investment decisions. The analytical work requires regular issuer contact, possibly travel, and working together with a team of more than 30 Fixed Income analysts globally as well as research specialists in India and China.

The credit research team in London is generally responsible for coverage of European, CEEMEA, North American and Latin American regions. Analysts work across the capital structure, including investment grade, high yield and emerging market asset classes. The FIL credit research team works collaboratively with over 100 equity analysts globally.

It is with this strategy in mind that we are searching for a Credit Analyst, ideally with experience covering the Automotive sector in Europe and the US. The role is expected to be based in London or in Continental Europe. As a Credit Analyst, you will be a highly valued core member of the research and investment team (which include portfolio managers, traders and quantitative research analysts) and actively participate in strategy sessions that address credit trends, investment decisions and asset allocation. The successful candidate will also be expected to build close working relationships with their peers in London, Toronto, Continental Europe, Hong Kong, Shanghai, Singapore and India within the fixed income and equity divisions.

Key Responsibilities

• Provide fundamental coverage of a sector within the global fixed income markets to contribute investment ideas that generate positive performance for our clients’ funds
• Participate in team-orientated structure, working daily with traders, portfolio managers, quantitative analysts and investment directing
• Prioritise core credit coverage from a larger sector universe by coordinating with investment team to find ideas that are most relevant for our funds to generate positive performance
  

Credit Research Process

• Perform fundamental analysis on your sector and individual companies to evaluate the creditworthiness of an issuer and assess the relative value of its bonds
• Incorporate ESG analysis into your analytical process and overall investment thesis.
• You are expected to become the internal sector expert for the fixed income team
• Conduct primary and secondary research on your companies and sectors
• Build and maintain detailed models, in conjunction with research specialists, that express your views and recommendations for your coverage
• Analyse covenants and capital structures to select individual bonds / issuers for our funds
• Lead company meetings, both in-house and externally, often in coordinating with PMs and equity colleagues
  

Communication / Collaboration

• Participate in regular team meetings across our range of fund disciplines
• Publish internal research notes that express your conviction and recommendations to the investment management team
• Partner with your trading desk counterpart to form relative value views taking liquidity considerations into account.
• Maintain regular issuer contact, including in-house and external meetings; this may include travel
• Participate in cross-asset class meetings with equity colleagues to sharpen your company and sector views
• Exhibit the values and behaviours expected of all Fidelity International employees
  

Other Responsibilities

• Work together with and mentor research associates / sector specialists who provide analytical and data support
• Represent Fidelity International in meetings with our clients, in both 1x1 and presentation formats
• Work closely and build relationships with peers in UK, Europe and Asia across the entire firm, including the equities, multi-asset, sales & distribution, and technology teams
  

Experience And Qualifications Required

• Degree or equivalent experience, ideally CFA charterholder
• Substantial experience as a Credit or Equity Analyst, ideally as a lead analyst
• Experience of modelling and relative valuation for companies, ideally in the Automotive sector
• A collaborative approach to working
• Ability to engage with the Fixed Income quantitative team, leveraging their models in your own investment process
• Understanding of Fixed Income securities, including the varying liquidity of instruments in a company’s capital structure
• Good communication skills and the ability to build effective relationships
• Flexibility in attitude and approach
• Willingness to undertake international travel
• An interest or knowledge of the investment management or wider financial services industry

About youAbout Fidelity International

We’ve been helping our clients plan and save for the futures they want for over 50 years. From more than 25 locations around the world, we provide investment services and retirement expertise to 2.5 million clients – everyone from central banks and financial institutions to wealth managers and private individuals. We think generationally and look to the long term. And today, building on the security of private ownership and our strong sense of purpose, we’re growing our business like never before.

What It’s Like To Work Here.

In our welcoming, caring culture, you’ll feel valued, trusted and free to express yourself. We recognise the value of inclusion and diversity in culture, in thought and in experience. With this in mind, please let us know if you feel you might benefit from any reasonable adjustments to perform to the best of your ability during the recruitment process and beyond.

As well as a clear commitment to inclusion, we offer real flexibility about where, when and how you work. It’s an approach we call ‘dynamic working’, and you’ll find it brings the very best out in you.

Getting started

For more about who we are, how we work and the part you could play in both our progress and our future, visit careers.fidelityinternational.com .

Or, if you’re feeling inspired, start your journey with us right now.

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