Portfolio Manager – Emerging Market Local Debt
The Global Fixed Income, Currency and Commodities team (GFICC) at J.P. Morgan Asset Management is one of the world’s deepest and best‑resourced fixed‑income managers, with expertise across all major fixed‑income sectors, including niche markets. Every investment decision in our fixed‑income solutions is underpinned by proprietary research from a globally integrated team of sector specialists. Our shared research language, combining fundamental, quantitative valuation and technical inputs, facilitates the comparison of ideas across sectors and geographies. GFICC manages a broad range of strategies, through funds and/or separate accounts, including broad market, long duration, stable value, intermediate high yield, emerging‑market debt, short and ultra‑short duration, global bonds, structured products, mortgages and tax‑aware strategies.
The Emerging Market Local Debt team is responsible for managing Local‑Currency denominated government bond portfolios within GFICC, as well as contributing to the Emerging Market macro view across the broader GFICC team. The team has a long and proven track record in managing portfolios throughout various cycles over the last 20 years, and has launched innovative products in the sector, positioning the team well to see significant asset growth as investors reconsider the space more strategically.
Role Summary
- Own the generation, evaluation, and implementation of investment ideas in Emerging Markets (EM) local rates and currencies to deliver excess returns consistent with the portfolios’ risk budgets, investment guidelines, and benchmark constraints.
- Develop and articulate macro and market views across assigned EM countries/regions, and translate those views into portfolio positioning recommendations.
- Collaborate across the Global Fixed Income, Currency & Commodities (GFICC) platform to incorporate cross‑sector insights into EM Local portfolios and to communicate the EM Debt (EMD) team’s house view to internal stakeholders.
Key Responsibilities
- Idea Generation and Implementation
- Source, structure, and execute trade ideas across EM local curves and relative value expressions, targeting alpha within defined risk limits and liquidity parameters.
- Manage positions through the full lifecycle: entry, risk calibration, performance attribution, and exit, with clear documentation of thesis, catalysts, and risk factors.
- Optimize country and curve exposures (e.g., duration, DV01 allocation, curve shape, breakevens) in line with portfolio objectives and client guidelines.
- Macro and Country Coverage – Maintain and present a rigorous macro framework for assigned EM countries/regions.
- Produce timely, high‑conviction recommendations informed by data, policy trajectories, and market technicals; update views as catalysts evolve.
- Cross‑Platform Collaboration – Partner with global rates, FX, credit, and quant teams to integrate cross‑asset insights into EM Local portfolios.
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