Or more specifically Sheridan Admans, manager of our TC Share Centre Multi-Manager fund range.
A week in the life of a Fund of Funds manager
Although my week is diverse, there are a number of constant checks I go through. Monitoring the status of the financial markets, regular catch-ups with my immediate team and the wider investment team at The Share Centre to discuss market developments, relevant trends and current events, are all a must. As is checking the daily valuations, overnight benchmarking against peers, reading the overnight briefings, liquidity checks, and reviewing the data output from our models that look at region and sector valuations, market technical, fundamentals and macro data.
Alongside this, a few other regulars in my week are; portfolio construction and risk review, and writing my weekly ‘Admans’ Saturday Pop’ email newsletter, which provides a short and snappy briefing note to interested investors, directly to their inbox every Saturday morning.
There are always ad-hoc meetings and monthly or quarterly meetings, such as investment committees, meeting with our Authorised Corporate Director (ACD) on a wide range of issues, as well as regular communications.
If any trades are undertaken that week I will make the final decision on what volume we will commit to and which funds will be purchased. These decisions will be taken after I have consulted with the team and the analyst that has undertaken the research.
Before allocation to investments are made there will be numerous meetings held with potential fund managers that we believe may be suitable for inclusion in the portfolios. After we have narrowed the options through our screening process, we will arrange to meet those managers, and then meet with 3 to 4 investment managers a week between us. Each manager we meet will be taken through our appraisal process, and if we are happy with the output from this we then conduct a number of other checks and tests to get a feel for how they might integrate into the existing portfolios, before coming to a final decision. From start to finish, purchasing a new investment can be concluded within weeks, but there have been a number of occasions where it’s taken us 6 months to make a firm commitment, and on one occasion it took three years.
The work outlined above in itself is not sufficient to draw conclusions on how the Multi-Manager funds should be constructed. A lot of reading on a broad range of subjects is required. A significant amount of my time can be spent keeping up with the financial press, regulations, research papers, white papers and general interest.
In addition to meeting with the analysts, monitoring the markets and current events, and undertaking portfolio construction, there are other responsibilities. I, and some of the team, will often have communication with investors and potential investors in person, over the phone, or via other online channels. I also often conduct interviews with the financial media, such as The Financial Times, Telegraph, Daily Mail or trade press, such as Investment Week or Portfolio Advisor.
A day in the life of a multi-manager is filled with a wide scope of challenges. I’m normally found at my desk at 7am and the day normally ends late, but in between can provide some interesting challenges while I, and the team, seek opportunities we believe will give us an edge over time.
Read more about our Multi-Manager funds .
All information given including prices, yields and our opinion is correct at the time of publication. Our opinions on investments can change at any time and for our latest view please go to www.share.com. To understand how our Investment research team arrive at their views please read our Investment Research Policy.