Portfolio Manager, Emerging Market Macro

GIC; Greater London; Hybrid; GBP 170,000 - 210,000; Full time

Benefits offered by this job

Flexible work arrangements

Hybrid work model

Job summary

GIC is seeking an experienced Emerging Markets Portfolio Manager to join its Global Macro team. This senior role will involve managing rates, FX, and sovereign credit with P&L accountability and a strong discretionary mandate.

You will engage with strategists and economists to convert macro views into actionable trades, maintain a robust risk framework, and build a broad external network across central banks and research providers.

Qualifications

• 10–15 years' experience managing discretionary macro portfolios.

Responsibilities

• Manage a discretionary portfolio across rates, FX, and sovereign credit, translating macro conviction into sized, hedged exposures.
• Identify macro and micro opportunities across yield curves, FX, and volatility surfaces.
• Set the region's macro framework by views on monetary policy, fiscal trajectories, and political risk across CEEMEA economies.
• Manage risk with position sizing, hedging, and drawdown within mandate and risk parameters.
• Collaborate with strategists and economists to translate macro themes into trade ideas.
• Execute trades across linear and non-linear instruments with delta-hedging.
• Build external network with central banks, policymakers, research, and brokers.
• Contribute to cross-regional themes and portfolio construction discussions.
• Communicate portfolio views and risk metrics to senior management and investment committees.

Skills

Discretionary macro portfolio管理

Job description

GIC is one of the world’s largest sovereign wealth funds. With over 2,000 employees across 11 locations around the world, we invest in more than 40 countries globally across asset classes and businesses. Working at GIC gives you exposure to an extraordinary network of the world’s industry leaders. As a leading global long-term investor, we Work at the Point of Impact for Singapore’s financial future, and the communities we invest in worldwide.

Fixed Income

Our team employs a broad range of investment strategies that span macro, credit, and quantitative investing, including multi-asset, benchmark-agnostic, constrained, indexed, and thematic strategies.

Global Macro

We are seeking an experienced Emerging Markets Portfolio Manager to join our Global Macro investment team. The successful candidate will be responsible for generating alpha through active management of rates, FX, and sovereign credit in emerging markets. This is an investment role with P&L accountability and a substantial discretionary risk mandate.

Key Responsibilities

• Manage a discretionary portfolio across rates, FX, and sovereign credit, translating macro and political-risk conviction into sized, hedged portfolio exposures.
• Identify and implement macro and micro-driven opportunities across yield curves, FX pairs, and volatility surfaces.
• Set the region's macro framework by developing views on monetary policy, fiscal trajectories, and political risk across CEEMEA (Central and Eastern Europe, the Middle East, and Africa) economies, and maintain the analytical edge that underpins portfolio decisions.
• Manage risk with full accountability for position sizing, hedging, and drawdown management within mandate guidelines and departmental risk parameters.
• Collaborate with strategists and economists to translate macro themes into actionable trade ideas.
• Execute trades efficiently across linear and non-linear instruments with diligent delta-hedging capability.
• Build and maintain a senior external network by engaging central banks, policymakers, sell-side research, and brokers across the region to sustain deal flow and market intelligence.
• Contribute to cross-regional themes and relative value trades, bringing a CEEMEA perspective to broader portfolio construction discussions.
• Communicate portfolio views, performance drivers, and risk metrics to senior management and investment committees.

What qualifications or skills should you possess in this role?

• 10–15 years' experience managing discretionary macro portfolios, with deep, demonstrated expertise in CEEMEA
• Strong, consistent track record managing a sizeable discretionary portfolio (rates, FX, and/or sovereign credit) with a disciplined portfolio management framework.
• Strong macroeconomic foundations in CEEMEA economies, central bank policy frameworks, and political risk analysis, with an established network of senior regional contacts.
• Strong market acumen with an in-depth understanding of derivatives (swaps, futures, options) used for hedging and expressing views.
• Excellent communication skills, with the ability to present to CIO-level audiences and articulate complex macro views with clarity and conviction.
• Demonstrated experience mentoring or managing junior investment professionals.
• Fluency in English required; additional regional languages (Russian, Arabic, Turkish, etc.) a plus.

Work at the Point of Impact

We need to be forward-looking to attract the right people to help us become the Leading Global Long-term Investor. Join our ambitious, agile, and diverse teams - be empowered to push boundaries and pursue innovative ideas, share your views, and be heard. Be anchored on our PRIME Values: Prudence, Respect, Integrity, Merit and Excellence, which guides us in how we make our day-to-day decisions. We strive to inspire. To make an impact.

Flexibility at GIC

At GIC, our offices are vibrant hubs for ideation, professional growth, and interpersonal connection. At the same time, we believe that flexibility allows us to do our best work and be our best selves. Thus, our teams come into the office four days per week to harness the benefits of in-person collaboration but have the flexibility to choose which days they work from home and adjust this arrangement as situational needs arise.

GIC is an equal opportunity employer

GIC is an equal opportunity employer, and we value diversity. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.

Please email [e-mail] at any point of the application or interview process if adjustments need to be made due to a disability.

Learn More

Learn more about our Fixed Income Department here: https://gic.careers/group/fixed-income/

Our PRIME Values

GIC is a values driven organization. GIC’s PRIME Values act as our compass, enabling us to fulfil our fundamental purpose and objectives. It is the foundational bedrock which governs our behaviors, our decision making, and our focus. It informs both our long-term strategy as a firm, and the way we relate to our Client, business partners and employees. PRIME stands for Prudence, Respect, Integrity, Merit and Excellence.