Intern (WAM - Fixed Income Investment/ Rotational)

Franklin Templeton; Singapore; On-site; SGD 17,000 - 23,000; Part time

Job summary

Franklin Templeton’s Western Asset Management internship in Singapore offers a multi-rotation program across Portfolio Analysis, Macroeconomic and Rates Research, and Credit Research. You’ll gain exposure to the full investment process from macro views to portfolio construction and risk monitoring.

The program targets second-year students or higher studying Economics, Finance or Business, with strong Excel skills and familiarity with Bloomberg.

Qualifications

• Second-year university students or above studying Economics, Finance, Business or related discipline.
• Knowledge of fixed-income instruments and macro markets.
• Strong analytical skills and ability to work in a team.

Responsibilities

• Translate investment instructions into appropriately sized trades, including cash, duration, currency and hedge calculations.
• Complete trade entry, pre-trade compliance, execution support, allocation, system posting and settlement monitoring.
• Monitor portfolio cash flows, liquidity, overdrafts, investment guidelines and operational deadlines.
• Investigate and resolve trade, pricing, position, allocation and settlement discrepancies.
• Support new issues, portfolio transitions, account openings, closures and liquidations.
• Prepare portfolio reports covering positioning, performance, risk exposures and investment activity.

Skills

Fixed-income knowledge

Portfolio mathematics

Analytical skills

Excel proficiency

Education

Second-year university student or higher

Economics/Finance/Business major or related

Tools

Bloomberg

Investment systems

Job description

Western Asset Management (WAM) is part of Franklin Templeton, a forward-thinking asset manager that has built its success through powerful partnerships. We leverage cutting-edge strategies and deep insights to unlock opportunities for long-term wealth creation. Our talented, global teams bring expertise that is both broad and unique.

Western Asset Management focuses on supporting our clients’ financial goals and creating positive outcomes for all kinds of people. Primarily a globally integrated fixed-income manager, we source ideas and investment solutions worldwide, with an emphasis on long-term fundamental value investing, using multiple diversified strategies.

Western Asset is a global asset management firm renowned for its expertise in fixed-income investments. Operating as a cohesive team, we leverage an open, integrated investment platform to deliver superior results. Our collegial team culture is a significant asset, enabling us to harness the combined experience and fixed-income acumen of our investment professionals worldwide.

We are looking for an Intern to join the Franklin Templeton office in Singapore. The internship is expected to commence in December 2026 for 25 to 35 weeks.

The intern will complete three rotations within the Western Asset Management Fixed Income team over six months, covering Portfolio Analysis, Macroeconomic and Rates Research, and Credit Research. This role provides exposure to the full investment process - from developing macroeconomic and issuer views to portfolio construction, trade implementation, and ongoing risk monitoring.

Western Asset Management (WAM) is a wholly owned subsidiary of Franklin Templeton. WAM is a global specialist firm of experienced fixed-income experts, operating as a single team with an open, integrated investment platform. Our collegial team culture is an advantage that makes the most of the combined experience and fixed-income acumen of our investment professionals throughout the world.

WAM utilizes our globally integrated operations platform to help preserve value and drive performance, and we leverage it as a catalyst for diversification and value creation.

Visit Global Asset Management | Western Asset to learn more who we are.

How you will add value?

Core Responsibilities Throughout The Rotation

• Translate investment instructions into appropriately sized trades, including cash, duration, currency and hedge calculations.
• Complete trade entry, pre-trade compliance, execution support, allocation, system posting and settlement monitoring.
• Monitor portfolio cash flows, liquidity, overdrafts, investment guidelines and operational deadlines.
• Investigate and resolve trade, pricing, position, allocation and settlement discrepancies.
• Support new issues, portfolio transitions, account openings, closures and liquidations.
• Prepare portfolio reports covering positioning, performance, risk exposures and investment activity.

Phase 1: Portfolio Analysis and Implementation

• Monitor portfolio duration, spread exposure, currency risk, sector allocation, credit quality and benchmark positioning.
• Prepare portfolio maintenance and rebalancing trades arising from cash flows, benchmark changes and investment decisions.
• Support performance attribution, portfolio reviews and analysis of the impact of proposed trades on portfolio risk and return.
• Support in writeups or ad-hoc reports where needed
• Harness AI tools to integrate workflow and analysis

Phase 2: Macroeconomic and Rates Research

• Analyse Asian growth, inflation, monetary policy, fiscal conditions, external balances and foreign-exchange developments.
• Evaluate yield curves, real yields, carry and cross-market relative-value opportunities.
• Prepare macroeconomic and rates recommendations covering duration, curve and country positioning, including key catalysts and risks.

Phase 3: Credit Research

• Conduct fundamental analysis of Asian issuers
• Assess financial performance, leverage, liquidity, refinancing risk, debt structure
• Develop credit opinions and relative-value recommendations, and prepare research reports supporting portfolio investment decisions

What will help you be successful in this role?

• Second-year university students or above, preferably studying Economics, Finance, Business or a related discipline
• Knowledge of fixed-income instruments, portfolio mathematics, and Asian macroeconomic and credit markets
• Strong analytical skills, with a solid understanding of financial statements and credit metrics for analysing Asian issuers
• Proficient in Microsoft Excel, with Bloomberg and investment-management systems experience preferred
• Excellent attention to detail, communication skills, and ability to collaborate effectively in a team environment

Franklin Templeton is an Equal Opportunity Employer. We are committed to providing equal employment opportunities to all applicants and employees, and we evaluate qualified applicants without regard to ancestry, age, color, disability, genetic information, gender, gender identity, or gender expression, marital status, medical condition, military or veteran status, national origin, race, religion, sex, sexual orientation, and any other basis protected by federal, state, or local law, ordinance, or regulation.