Fundamentals

Fundamentals — Portfolio Manager

Applications open

Lead an investment team of seven Fundamental Analysts. You will oversee an equity and ETF portfolio that runs through the full year, including inter-term breaks. Your team chooses investments, sizes and instructions; its assigned Execution desk carries out the trades.

What you'll do

Arm: Fundamentals · Places: 1 per team · Team size: 8

About QTE

Queen's Tower Exchange is a financial-markets simulation for Imperial College London students. Teams use live market data and simulated capital to develop investment judgement through research and measured results.

Responsibilities

Set research priorities and challenge analysts' investment cases.
Approve position sizes and sign investment theses before opening or increasing positions.
Review and sign material changes to the investment case.
Set ticket quantities, hard price limits and urgency, and decide on ordinary ticket cancellations or replacements.
Oversee concentration, gross and short exposure, liquidity, drawdowns and required risk reductions, supported by the analysts.
Include unfilled increasing tickets in projected exposure and distinguish entry limits from hard position caps.
Maintain the cure and review calendar, check carried positions against new-term liquidity caps, and track execution costs and capital deployment.
Coordinate with Execution and prepare for Directors' risk reviews where required.

What success looks like

A coherent portfolio with documented reasoning and a team willing to revise its views. Scoring combines risk-adjusted returns, net profit and loss, and capital deployment. Research is compulsory and reviewed, but carries no subjective scoring points.

Prerequisite knowledge

Basic understanding of company accounts, valuation and portfolio diversification.
Ability to weigh evidence, explain an investment decision and revisit it.
Experience coordinating a group project, society or other shared activity.
Clear written communication and a willingness to challenge ideas respectfully.

Coding and professional investment experience are not required. Student research and independent study are valid evidence.

Useful, but not required

Stock pitches, valuation models, sector research or experience using spreadsheets for analysis.

What you'll be taught

Much of your learning will take place during a dedicated training week, held after teams are selected and before trading begins. Your Head of Arm will deliver lectures exclusively for the teams in your arm, giving you a strong grounding in the concepts and tools you will use in your role.

How to build, review and update a sourced investment thesis.
Position sizing, portfolio construction and liquidity-aware investment decisions.
How to work with Execution through tickets and assess realised trading costs.
QTE's portfolio limits, cure-ticket process and drawdown reviews.

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