How to Become a Asset Manager

About Asset Manager

An Asset Manager is a person who manages client assets. He is responsible for analysing the assets and investments. The asset manager also identifies the amount of risk and gain in those investments. Some of the major tasks performed by an asset manager are managing multiple client accounts and maintaining effective interaction with stakeholders, communicating with clients for any needed account change, making needed changes to the portfolio of the client, creating impact analysis reports and organizing meeting with stakeholders to review their accounts. A good asset manager travels regularly to meet clients and stakeholders to generate reports for them in a timely manner. 

There are many types of asset management such as financial asset management, infrastructure asset management, enterprise asset management, public asset management, IT asset management, fixed assets management and digital assets management. Candidates who are interested in managing asset activities can opt for a career as an asset manager. Asset managers are mostly hired by the management firms and banks. 

Eligibility to become Asset Manager

Candidates must meet the minimum eligibility criteria mentioned below

Education: Candidates who are looking for a job as an asset manager must have cleared a graduate or postgraduate degree in finance. Most of the companies hire candidates who have cleared CFA (Chartered Financial Analyst) for key positions and an MBA in Finance. However, it is not mandatory to have a degree to start a career in asset management.

Experience: Candidates must have some experience to have a successful career in asset management. They can get some experience by working part-time at any finance-related company. Besides this, those who are new to this industry can also apply for a junior-level position to get some experience. After that, they can apply for a job as an asset manager. 

Skills: Candidates should have certain skills to have a successful career in asset management. Some of the important skills are listed below.

• Strong analytical skills
• Excellent communication skills
• Highly skilled in Math and Finance
• Strong time-management skills
• Skilled in negotiation and project management
• Detail-oriented and highly organised
• Excellent critical thinking skills
• Time management
• Technical skills
• Creativity

Types of Job Roles Asset Manager

The major function of an asset manager is to collect the data of an organization or a company and analyze its financial strength. He will be responsible for making reports and giving opinions on selling, holding or buying decisions of a particular stock. There are many job roles available for an asset manager. Some are given below.

• Financial Analyst
• Portfolio Manager
• Financial Advisor
• Relationship Manager
• Sales Manager
• Economist

Employment Opportunities for Asset Manager

Asset managers can apply for a job at asset management firms. They can check the job description decided by the company to know if a particular job is suited for them or not. There are many other sectors which hire asset managers. Some of the job opportunities for an asset manager are listed below.

• Real estate asset management companies
• Real estate development companies
• Charitable and religious organizations
• Commercial banks
• Mortgage brokerage firms
• Real estate investment trusts

Top Recruiting Agencies for Asset Manager

Some of the top recruiting agencies for an asset manager are as follows

• CICI Prudential Asset Management Company Ltd
• HDFC Asset Management Company (AMC)
• Reliance Nippon Life Asset Management Limited
• SBI Funds Management Pvt Limited
• Aditya Birla Sun Life Asset Management Company Limited. 
• UTI Asset Management Company Ltd. 
• Kotak Mahindra Asset Management Company Limited. 
• Franklin Templeton Asset Management (India) Pt Limited. 
• DSP BlackRock Trustee Company Private Ltd. 
• IDFC Financial Holding Company Limited

Pay Scale/Salary of Asset Manager

The average salary of an asset manager depends on the type of industry and location. An entry-level asset manager with 1-4 years of experience can earn up to 5 lakh per annum. There are some companies that also offer some bonus to the asset manager besides their monthly salary. Candidates can check the table below to know the average salary of an asset manager across all levels.

Books & Study Material to Become Asset Manager

An asset manager should be updated with current marketing trends and strategies. He should be able to offer the best advice to the companies for their investments. Asset managers can also refer to some books to learn some new strategies for asset management. Some of the books recommended for asset managers are:

• Quantitative Portfolio Management by Edward Qian, Ronald Hua, Eric Sorensen 
• Quantitative Value by Wesley Gray and Tobias Carlisle
• The Fundamental Index: A Better Way to Invest by Robert D. Arnott, Jason Hsu, John West
• Expected Returns by Antti Ilmanen 
• Quantitative Momentum by Wesley Gray and Jack Vogel 
• Little Book that Still Beats the Market by Joel Greenblatt
• Dual Momentum Investing by Gary Antonacci
• Complete Guide to Factor Investing by Andrew Berkin and Larry Swedroe
• Active Portfolio Management by Richard Grinold and Ronald Kahn 
• What Works on Wall-Street by James O'Shaughnessy 
• Asset Management: A Systematic Approach to Factor Investing by Andrew Ang
• Shareholder Yield: A Better Approach to Dividend Investing by Mebane Faber

Pros of becoming a Asset Manager

• A career as an asset manager is full of learning. They get to learn about new marketing strategies every day.
• Salary of an asset manager is good. Their average salary increases with experience.
• Asset managers don’t have to depend upon the work of other employees. 

Cons of becoming a Asset Manager

• There is a huge competition for a career as an asset manager. Candidates who are applying for a job as an asset manager need some experience to get hired.
• Assent managers have to analyse the risk and gain in investment on a regular basis. He will be responsible for providing investment advice to the clients.
• A career as an advice manager can be very helpful at times.
• Asset managers will have to stay updated with the current market trends and strategies to get maximum benefits.