Asset management
Investing money for pension funds, insurers and other institutions, in funds the firm runs.
Asset management is the business of investing other people's money for them, for a fee. The clients are pension funds, insurers, charities, governments and ordinary savers who buy funds. The manager is usually paid a small percentage of the money it looks after each year, so it grows by winning new money and by investing the existing money well.
There are two broad styles. Active managers pick investments to try to beat a benchmark; passive managers track an index as cheaply as possible. Teams are split by what they invest in, shares (equities), bonds (fixed income), a mix of both (multi-asset), and private markets such as property, infrastructure and private credit.
A junior on the investment team researches companies or bonds, builds models and helps a portfolio manager decide what to buy and sell. Other junior seats sit in client relationships, sales, product and operations. This is the buy-side. You are deciding where money goes, not advising someone else on it, and the hours are usually steadier than in a bank. A posting that mentions a portfolio, a fund, a benchmark or "investment analyst" is usually hiring into this world.
Open jobs
| Job | Firm | Level | Stage | Posted |
|---|---|---|---|---|
| Asset management · Emerging markets |  Morgan Stanley | Off-cycle starts Jan 2027 | Recent graduates | 12 days |
| Asset management · Real estate | Morgan Stanley | Off-cycle starts Feb 2027 | Recent graduates | 2 weeks |
| Asset management · Real assets | Morgan Stanley | Summer starts Jun 2027 | Second-to-last year at university | 2 weeks |
| Asset management · Liquidity | Morgan Stanley | Off-cycle starts Jan 2027 | Recent graduates | 2 weeks |
| Asset management · Infrastructure |  Partners Group | Associate | 3 to 5 years | 3 weeks |