Global Macro & Relative-Value Portfolio Manager

Capula Investment Management LLP; Greater London; On-site; GBP 180,000 - 260,000; Full time

Benefits offered by this job

Competitive base salary

Discretionary bonus

20 days annual leave

Medical and dental insurance

Training and development

Onsite dining and gym facilities

Flat and agile organisation

Job summary

Capula Investment Management LLP is seeking experienced Portfolio Managers across macro and relative value strategies, including rates, FX and fixed income, to manage significant capital allocations. The role requires disciplined risk management, independent decision making within a collaborative, research-driven environment, and the ability to contribute to the firm’s macro and value framework.

Capula offers a high-performance culture with strong mentorship, global collaboration, and

Qualifications

• Proven track record of alpha generation in macro or relative value strategies.
• Strong understanding of global macroeconomics and policy.
• Ability to manage capital with autonomy and discipline.
• Collaborative mindset within a team-oriented investment environment.

Responsibilities

• Develop and execute discretionary and/or systematic macro and relative value strategies across global markets, focusing on rates, FX and related instruments.
• Identify and express thematic and relative value opportunities driven by macro fundamentals and policy.
• Actively manage portfolio risk with a disciplined framework, including position sizing and drawdown management.
• Partner with trading, research and risk teams to optimise trade structuring and implementation across swaps, futures, options and sovereign bonds.
• Continuously refine strategies in response to evolving market conditions and economic developments.
• Communicate portfolio positioning, performance and risk exposures clearly to internal stakeholders.
• Contribute to the broader investment platform through idea generation, market discussion and cross-team collaboration.

Skills

Alpha generation

Macro strategy

Risk management

Cross-asset experience

Autonomy

Job description

Capula Investment Management LLP is seeking experienced Portfolio Managers across macro and relative value strategies, including rates, FX and fixed income, to manage significant capital allocations. The role requires disciplined risk management, independent decision making within a collaborative, research-driven environment, and the ability to contribute to the firm’s macro and value framework.

Capula offers a high-performance culture with strong mentorship, global collaboration, and