What does a Portfolio Manager do?
Portfolio Managers are responsible for managing client investment portfolios and making profits on those investments. They can work for companies or individual clients. Part of their day-to-day duties includes spending time analyzing financial markets, economic forecasts, and current events.
Portfolio Managers work closely with analysts to assess the effects of current market trends and determine viable investment opportunities. They share research results with investors and suggest a possible course of action. Portfolio Managers are not just responsible for finding viable investment opportunities but also managing and taking suitable actions on the investments. Portfolio Managers are typically employed by insurance companies, pension firms, hedge funds, and private investment corporations.
Portfolio Manager skills and qualifications
Efficiency in data interpretation, data analysis skills, and efficiency in both verbal and written communication skills are important qualities for any successful Portfolio Manager. Additionally, a Portfolio Manager needs to have an in-depth understanding of financial markets to find viable investment opportunities. Top skills for Portfolio Managers include:
- Ability to meet deadlines
- Attention to detail
- Accurate numerical skills
- Highly organized
- Demonstrable knowledge of financial markets
- Ability to work within teams and individually
- Excellent interpersonal skills
- Analytical and problem-solving skills
Portfolio Manager experience requirements
Portfolio Manager candidates typically need two to five years experience working as an Investment Analyst or Portfolio Manager to gain the necessary foundation of knowledge to make crucial portfolio decisions. While Portfolio Manager candidates can adapt to many different industries, ideal candidates will have relevant experience in the industry of the position.
Portfolio Manager education and training requirements
Portfolio Manager candidates should have an undergraduate degree in commerce, business, finance, math, or economics. An MBA with a focus in asset management or finance is also an asset for candidates. Additionally, candidates with certifications in risk management or financial analysis will be at an advantage. For example, candidates with Chartered Financial Analyst status are ideal. Other certifications in economics, finance, and accounting can also be beneficial.
Portfolio Manager salary expectations
According to Indeed Salaries, the average salary of a Portfolio Manager in Canada is $80,856 per year. This can vary depending on location, experience, and the size of the portfolio they will be managing.
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