Portfolio Manager, Fixed Income & Relative Value

Alberta Investment Management Corporation (AIMCo); Toronto; On-site; CAD 140,000 - 230,000; Full time

Job summary

AIMCo (Alberta Investment Management Corporation) is seeking a Portfolio Manager for Fixed Income & Relative Value based in Canada. The role focuses on actively managing a levered rates relative value book, daily trading, and risk oversight within a disciplined VaR framework.

Ideal candidates bring deep experience in rates investing, strong quantitative skills, and the ability to originate ideas and calibrate models with our analytics resources to broaden strategy breadth over time.

Qualifications

• Experienced rates investor with demonstrated risk ownership in relative value strategies.
• Strong quantitative foundation and disciplined risk mindset.
• Ability to originate ideas independently and expand strategy breadth over time.

Responsibilities

• Manage active portfolio across levered rates relative value book and daily trading.
• Assess risk/return drivers and monitor performance within VaR framework.
• Develop and calibrate proprietary models and repeatable processes with analytics support.
• Contribute to portfolio construction and ongoing strategy evolution.

Skills

Rates investing

Relative value strategies

Quantitative analysis

Portfolio construction

Risk management

Job description

AIMCo (Alberta Investment Management Corporation) is one of Canada’s largest and most diversified institutional investment managers with more than $179.6 billion of assets under management. Their priority is their clients, and they invest globally on behalf of 25 pension, endowment, insurance, government, and specialty funds in Alberta across 30 pools of capital. AIMCo is at an exciting point in its history – going through significant change and transformation as it continues to build its leadership team, transform its investment strategy and approach and broaden into new investment areas in public and private assets. The company has become a truly global corporation with offices now in Edmonton, Calgary, Toronto, London, and Luxembourg, and its culture based on principles of collaboration, innovation and diversity have won numerous awards as a ‘Top Employer’.

The Fixed Income Team at AIMCo plays an important role by providing their clients with capital preservation, liquidity and superior, risk‑controlled returns relative to benchmark. The department is made up of five teams: Money Markets, Bonds, Private Placements, Credit Research and Relative Value, and manages more than $35 billion in investments. The Relative Value team manages a levered global fixed income relative value portfolio and provides ‘alpha’ to the Fixed Income portfolio. The team primarily deploys quantitative bottom‑up approaches to identify investment opportunities and utilizes a top‑down approach in looking for potential investment themes. The team manages and monitors the portfolio positions using a customized analytical platform with detailed daily return and risk measures.

Due to the success and growth of the strategy, the team is now looking for a Portfolio Manager, Fixed Income & Relative Value. Reporting to the Director, Fixed Income & Analytics, the successful candidate will join a team of three responsible for active portfolio management, daily trading, and ongoing assessment of risk and return drivers across a levered rates relative value book. Operating within a disciplined VaR framework, the role will focus on originating and executing relative value opportunities across cash bonds, futures, swaps, and rates options, while contributing to portfolio construction and risk oversight. The individual will also help develop and calibrate proprietary models and repeatable processes that support idea generation, monitoring, and systematization in partnership with the team’s analytics resources.

The ideal candidate is an experienced rates investor with demonstrated risk ownership in relative value strategies and a strong grasp of leverage, funding dynamics, and portfolio construction. This background may come from an institutional internal alpha team, hedge fund, alternative asset manager, or a bank rates desk with portfolio‑level accountability. Success in the role will require a strong quantitative foundation, a disciplined risk mindset, and a collaborative approach, with the ability to independently originate ideas and take risk to expand strategy breadth and reduce key‑person dependency over time.

Based in Toronto, Ontario, or Calgary, Alberta, this is a tremendous opportunity to join a high performing team with one of largest institutional investors in Canada.

We thank all applicants for their interest in this position. Please note that we will only be in contact with those individuals moving forward with our client.