Emerging Markets Macro – Senior Portfolio Manager

An established hedge fund with a strong track record has retained us to hire a Senior Portfolio Manager into its London-based Emerging Markets Macro team. The strategy invests in EM across corporate and sovereign bonds, FX and rates through a top-down, macro-driven lens, with sovereign dynamics, rates and geopolitical risk informing credit selection and positioning across global EM. The fund is well-capitalised and offers the right candidate genuine discretion over how the book is run. The role Construct and manage a global Emerging Markets fixed income portfolio through a top-down macro lens, with sovereign dynamics, rates developments and geopolitical risk informing credit selection across sovereigns, quasi-sovereigns and corporates in LATAM, CEEMEA, APAC and broader global EM Identify and execute asymmetric trade opportunities, expressing macro-informed views through relative value strategies across curves, cross-market dislocations and spread relationships Design and manage technically complex, multi-instrument hedging strategies across interest rate swaps, FX options, credit indices and other derivatives, managing risk across geographies, currencies and instrument types Monitor sovereign credit dynamics, rates markets, geopolitical developments and market flows across target EM regions, adjusting credit positioning dynamically as the macro backdrop evolves Maintain close relationships with sell-side trading desks to source liquidity, stay across market technicals and execute efficiently across cash and synthetic instruments Work alongside senior leadership on risk budgeting, capital allocation and the continued development of the strategy The ideal candidate A demonstrable track record running Emerging Markets portfolios at a senior level through a top-down, macro-informed investment process, with coverage across LATAM, CEEMEA and/or APAC Genuine depth across a broad instrument set including sovereign and corporate bonds, EM credit indices, interest rate swaps, FX options and related derivatives, in both hard and local currency markets A technically rigorous approach to hedging and a well-developed instinct for identifying and sizing asymmetric credit opportunities informed by macro and sovereign dynamics Strong understanding of sovereign credit, EM rates markets and the geopolitical factors that drive spread and currency behaviour across target regions Buy-side PM and experienced sell-side trading backgrounds are both relevant; the priority is a track record of deploying capital in EM credit with a clear macro-driven process Established relationships across EM sell-side desks and trading counterparties viewed favourably