Portfolio Manager – Macro Rates RV Semi-Systematic

Location: London (On-site/Hybrid)

The Mandate

We are partnering with a global multi-strategy firm in London seeking a Portfolio Manager to run a specialized Macro Rates Relative Value book. This mandate sits at the intersection of fundamental macroeconomic themes and highly precise RV trade construction. This is explicitly not a cross-asset macro seat; the focus is strictly on Developed Market (DM) Rates. The desk strongly prefers a semi-systematic, process-driven approach over purely discretionary risk-taking.

The Hard Questions (What You Will Solve)

The Implementation Gap: How do you translate a high-conviction fundamental macroeconomic theme (e.g., central bank divergence) into a tightly constructed, market-neutral RV trade that minimizes directional beta?

Process Codification: How do you build quantitative overlays and systematic entry/exit frameworks to remove behavioural drag from your fundamental macro views?

Curve Dynamics: How do you systematically exploit term-structure anomalies and fly pricing across sovereign curves while managing the negative convexity of the underlying instruments?

The Structural Edge

Tier-1 Balance Sheet: You are backed by the institutional capital required to warehouse complex, margin-intensive RV structures that smaller funds simply cannot afford to carry.

Quant-amental Infrastructure: Access to an elite centralized data platform that provides real-time macroeconomic data, central bank sentiment scraping, and tick-level pricing to support your semi-systematic process.

Ideal Profile

The Metric: 8+ years of verifiable live PnL in DM Rates RV. A demonstrable track record of maintaining a Sharpe ≥ 1.5 through rigorous risk management.

The Tech: You are not a pure quant, but you are highly literate in Python/SQL. You build your own pricing models, backtest your themes, and size your risk programmatically.

Compensation & Preferences

Non-compete: Preference for ≤12 months; buyouts considered for exceptional profiles.

Compensation: $250k-$350k + Formulaic PnL Cut ( This is not a guarantee of compensation or salary; a final offer amount may vary based on factors including but not limited to experience, domain expertise, and geographic location .)

At Onyx Alpha Partners, we are committed to connecting the most sought after talent in the financial world, to opportunities that expand the universe of unconstrained performance within their chosen discipline. If this opportunity aligns with your career aspirations, we encourage you to apply and explore the potential for growth and unparalleled success.

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