资产管理

资产管理是指代表其客户或投资者维护，交易和最大化投资回报。

This financial service aims to increase the value or return on the investor's portfolio while mitigating the risk. It helps manage financial portfolios to ensurethat the investment strategyused for individuals and entities is aligned with their long-term goals.

这些服务的示例将是从养老基金中管理资bobapp下载链接化管理产或为客户确定投资机会。

Note that asset management can have different meanings depending on the sector. In the general sector, it has a different meaning where it can be referred to as the tracking, controlling, and developing of assets or inventory in a company.

In the financial sector, It refers to managing investments and portfolios for other people. This article focuses on the latter.

Key elements

有many companies, firms, and individuals who hold lots of liquid assets, such as cash idle in their accounts. Keeping a lot of unused cash is not in the best interest since there are various opportunities to get a higher return by investing in the金融市场.

However, managing financial assets can be a bit of a complicated process for many individuals and businesses. The unpredictable nature of financial markets may lead to irrational and regrettable decisions.

资产管理不是根据胆量和不可靠的提示做出决定，而是为许多个人，公司和拥有大量流动资产的公司的公司的投资领域提供可靠的帮助。

1. Tasks

有many tasks required in this form of financial service. Some of the main ones involve:

• Monitoring asset performance
• 制定增加的策略return on investment(ROI) or minimize loss
• Making purchase decisions
• Researching markets and identifying trends
• Working and collaborating with the asset management team

2. 资产类

资产类refer to the segment of the financial markets where investments can be made. Understanding the nature of these asset classes is essential since they affect the risk and return on the portfolio.

资产类别的五个主要类别是fixed income, equity, commodities, real estate, and alternative investments.

• Fixed income is an investment where the borrower is obliged to pay fixed interest or dividends until the maturity date. Examples of fixed income are government and公司债券，财政笔记，存款证书（CDs), etc.
• Equity is the value of shares issued by a company to raise funds. Examples of equity would be apple shares,amazon shares, etc.
• Commodities are raw materials or basic goods. The most common examples of commodities used for investment are gold, silver, oil, natural gas, etc.
• 房地产也可以归类为真实资产，涉及由土地和建筑物组成的房地产，通常用于长期投资。
• Alternative investment involves investing in hedge funds,共同基金, private equity,风险投资, etc.

资产管理器

资产管理器s are financial professionals tasked with managing the client's money. They are responsible for growing the value of the assets in the client's portfolio and are referred to by many titles such as financial advisors,registered investment advisors (RIAs), investment brokers, and many more.

这se professionals meet with the client regularly to determine their objectives and the risk they are willing to take. They provide strategic advice, manage the client's assets accordingly and prepare various reports on investment, management, risk, and finances.

So what makes a good asset manager?

Several factors make an excellent asset manager. One of the factors is to have stronganalytical and finance skills. They interpret information based on how certain assets will perform in the market, changes in the market, and how the assets will perform at the current or future market conditions.

这y also require experience in the industry to make confident and wise decisions regarding the choices of assets in the portfolio. Experienced asset managers will know when to make the most appropriate investment in different market conditions or when the market changes.

Relationship and communication skills are essential for asset managers. They work and liaise with a variety of clients throughout their careers. Understanding the client's objectives and building long-term relationships can help the firm grow in the long run.

Roles

这team requires different roles to determine a successful outcome for the company and its clients. The three key areas are the distribution, investment, and support channels.

这distribution channeltakes a more personal approach, mainly involving the sales team, marketing, events, and relationship manager. There are three key responsibilities and tasks that are required in this role.

这first involves serving the client's request, such as delivering information or answering doubts regarding the organization. Likewise, it ensures that the client is served in the best and most appropriate manner.

这second requires building relationships with the clients. They need to maintain good working relationships and always be on good terms with them. This will potentially extend and lead to business opportunities for the company in the long run.

第三个需要引入新业务并向公司推销客户。角色investment channel需要投资销售团队带来的资本。它由研究分析师，投资组合经理和交易员组成。

这y are responsible for the ideas and ways to invest in the financial markets and generate returns for clients.

这y need to make sure that the portfolio and the investments abide by the risk, measures, and preferences of individuals, corporations, or pension schemes who are investing their money into the organization.

这support function由合规，法律，人力资源和金融等团队组成。他们往往被认为是back officeratherthan the front office, where client-facing is unlikely. They all work together to ensure that the goals and objectives of the client are fulfilled.

How does it work?

客户和资产之间应讨论的第一个问题经理是风险承受能力. Many people or groups have different levels of risk, unique circumstances, and preferences toward their investment portfolio.

例如,退休人员或养老基金administrators are likely to be more risk averse towards their investment portfolio, while younger and passionate investors probably gamble more on higher-risk investments.

资产管理器s will then evaluate several other factors involving the client's long-term financial objectives. These managers would then recommend and propose a mix of investments aligned with the client's objectives.

这investments are then handled according to a certain process or an investment mandate formulated internally. Due to the nature of these firms, they mostly offer their service to big companies and wealthy individuals.

这reason is that it would be difficult to charge the same price for their services to smaller investors.

这se wealthy investors deposit their money into private accounts with these firms and, in some cases, withthird-party custodians. It is usually placed in a market money fund which offers a greater return than a regular储蓄帐户.

这asset manager then manages the account through their power of attorney. They can offer positions customized for the client's income needs, tax expectations, and liquidity expectations.

Asset management vs. Wealth management

Asset management focuses more on investing assets and serves high-net-worth clients. Wealth management, on the other hand, addresses the financial situation of an individual or family and provides solutions to maximize and manage their wealth in the long run.

Wealth management helps clients grow their wealth, protect their assets, and reduce their financial risk. Similar to asset managers, wealth managers work with their clients to understand their objectives, finances, and assets and propose investments according to their strategic plans.

财富管理服务的示例将是有关投资管理和计划，退休计划，房地产计bobapp下载链接化管理划，债务管理，医疗保健和社会保障管理，保险服务，收入保护，税务服务计划，资产保存等等的建议。

资产管理公司（AMC）

Simply put, anAMCis a firm that operates by managing funds from individuals and companies. AMC works with a group of investors to diversify their client's portfolios, enabling them to offer higher value options and mitigate the risk.

这se firms invest pooled funds from their clients through different varieties of asset classes like fixed income, equities, real estate, and many more, depending on the financial objectives of the clients. Their primary goal is to increase the value of their client's portfolios by making smart purchasing decisions.

A common question is: are the AMCs on the buy orsell side?AMC属于买边公司。他们帮助客户根据对未来投资前景的研究做出投资和购买决策。

However, their investment plan also utilizes information and security recommendationsfrom the sell-side公司。

On the other hand, sell-side firms such as investment and commercial banks sell securities to these management firms. They perform market analysis and create projections in order to generate the trade orders for which they will receive commissions and transaction fees.

For more info, you can refer to这个video.

Another frequent question is: How do AMCs earn revenue?AMC charges investment fees, usually determined as a percentage of the client's total AUM. The fees can range from a几个基点to a large basis point of the shared profit.

例如，如果AMC收取2.5％的年费，则每年将向客户的投资组合收取25万美元的费用，该投资组合价值1000万美元。在某些情况下，公司可以收取最低年费，例如10,000美元或20,000美元。

AMCs are usually distinguished by thetotal market valueof the assets or investments managed or controlled by the firm. This is referred to as assets under management (AUM) and can be a strong performance indicator for AMCs.

Larger values in AUM may indicate higher revenues for the company (assuming a constant ROA).

有many asset management firmswhere as of 2021, the top 5 largest companies based on global assets under management (AUM) were Black Rock ($9.464 trillion),先锋小组($8400 trillion),瑞银group ($4.432 trillion),忠诚投资（$ 4.230）和State Street Global Advisors（3.860万亿美元）

客户

Understanding the different types of clients that AMCs serve is critical since the job varies depending on the client. The clients typically fall into one of the three main categories: (1) High-net-worth individuals, (2)Mutual funds, and (3) Institutional investors.

In most cases for AMCs, they would usually participate in all three categories. However, some firms specialize in only one. They assemble the three components as separate and different divisions within the company.

For example,JP Morgan has divisionsfor high-net-worth clients but also sponsors mutual funds as well.

Below is a brief description of each category.

1. High-net-worth individuals (HNWI)

这se are classified as people with liquid assets exceeding a certain value. A good rule of thumb suggests that they invest assets with a minimum of $5 to $10 million.

2. Mutual funds

这se are professionally managed investment portfolios that pool money from many investors to purchase securities. They are structured and maintained to follow the investment objective usually stated in theprospectus.

Mutual funds are renowned as the retail division of these management firms where investors of this investment vehicle are typically below the high-net-worth investors. They are intended to serve investors with lower net worths.

Since mutual funds are managed in a single portfolio, investors can directly invest in the fund. They can simply put $5000 of capital in mutual funds offered by firms like Vanguard or JP Morgan. Not only mutual funds butindex funds and exchange-traded funds are also traded.

3. Institutional investors

这se are typically companies or organizations that represent a large pool of assets. Examples would be government pension funds, corporate pension funds, endowments, insurers, and many more.

As to why the job varies for different clients, the need for different objectives and strategies are required in the handling of the investment portfolio.

For example, theportfolio managerwho represents high-net-worth individuals would have an entirely different focus than the one who handles institutional investors.

职业生涯管理是其中最competitive careers in the finance industry. It takes passion, ambition, and dedication to succeed in such a role.

A key question normally asked is: What are the initial steps to help you get started in this career?这most recommended path in starting your career is to get a经济学学位或由顶级机构提供的资金。较大的公司将要求高级证书，例如chartered financial analyst (CFA) certification.

有many skills demanded and required. Some of them are analytical skills, decision-making, communication, time management, and initiative.

分析技能涉及确定趋势，预测定性和定量研究中的股票回报，研究数据和头条新闻等等。

Decision-making skills ensure making confident, wise, and right investment choices based on the facts given by the research and information extracted from the market.

Communication skills are essential to explain the investment decisions made to the clients and build long-lasting relationships with them.

时间管理技能处理与您对市场发生的事件的反应速度有关的压力。

该倡议是能够积极寻找新的机会和解决方案的能力。

Work-life balance: Asset management vs. Investment banks

In the finance industry, asset management is known to have a reasonable work-life balance compared to a career in investment banking. The average hours that asset managers work is around 40 to 50 hours which is the standard working hour for an average person.

资产管理可以充实的职业生涯meone who prioritizes work-life balance at the top of their list. On the other hand, investment banking can be a bit of a "havoc" for people who prioritize work-life balance at the top of their list.

Investment banking employees can work up to 80 hours per week which can be a staggering amount of work. Even on weekends, especially Saturdays, investment bankers are obliged to work, whereas Sundays are not guaranteed a day off for these employees.

One of the most asked questions is: What is the average salary asset managers receive?根据薪级表, the average salary for an asset manager in the United States is:

• Base salary: $50k - $117k
• 奖金：$ 2K- $ 24K
• Profit Sharing: $1k - $20k
• Commission: $0 - $2k
• 总薪水：$ 45K-126K

Career threats

有concerns regarding future careers in management due to the increased use of artificial intelligence (AI). AI models have helped the finance industry in many ways, from投资组合管理风险management, trading hedge funds,ETFs, and even cryptocurrencies.

Based on information from再镀金, there is an idea that many managers believe:

“投资组合管理应通过应用以更具动态的方式分析大数据的同时消除投资过程中的情绪的技术来进行现代化。”

根据a study from theCFAinstitute research foundation, the use of AI has improved asset management, trading, and risk management practices by increasing efficiency, accuracy, and compliance.

同样，它帮助基于更准确的风险和回报预测来构建投资组合。这CFA研究具有提到过,甚至有一个相当大的number of AMCs that are now using AI and statistical models to run trading and investment platforms.

根据更好的参与, there are five maininterview questions for assetmanagers.

1. What are some of the challenges currently faced by the asset management industry? How can they be overcome?
2. 当您不得不为客户谈判有利的条款时，您能描述一种经验吗？
3. 请描述您的财务背景。您会说您最强的品质是什么？
4. What method do you use to eliminate the errors in your work?
5. How你监视吗？asset performance and market trends?

Researched and authored by Viriyan Dharma|Linkedin

Reviewed and edited by Sakshi Uradi|LinkedIn

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