Portfolio Manager, Public Equity Team

Why you’ll love working here:

• Competitive, 100% company-paid extended health and dental benefits for permanent employees, including coverage supporting our team's diversity and mental health (e.g., gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year, and newly extended maternity/parental leave top of 26 weeks)
• Learning and development initiatives, including workshops, Speaker Series events and access to LinkedIn Learning, that support employees’ career growth
• Yoga classes, meditation workshops, nutritional consultations, and wellness seminars
• Optional post-retirement health and dental benefits subsidized at 50%
• Access to an annual wellness reimbursement program for health and wellness-related expenses for permanent and temporary employees
• Our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves
• Membership in HOOPP’s world class defined benefit pension plan, which can serve as an important part of your retirement security
• High-performance, people-focused culture
• The opportunity to make a difference and help take care of those who care for us, by providing a financially secure retirement for Ontario healthcare workers

Team

The Public Equity team consists of 11 full-time staff. The team has two strategic objectives. Our research objective includes building fair-valuation models on about 200 Canadian and U.S. public companies, based on understanding value creation in the relevant industries. Our portfolio objective covers delivering alpha from carefully constructed portfolios. Because our portfolio mandate is an alpha mandate, we are typically focused on relative performance.

What You Will Do

Each member of the team has roles related to three activities: fundamental industry and company research, portfolio management, and project management and other tasks related to running the business of the team. The team’s portfolio mandate is an alpha or value-add mandate. Consequently, all our portfolios are focused on relative return. For this role, the incumbent should expect to spend time on research, portfolio management and on project management and operational tasks.

• Building individual company valuation models, including consideration and quantification of ESG factors
• Assessment of individual companies against the industry context
• Build strong relationships with internal and external partners.
• Support, project management and operational tasks: Includes monthly and quarterly reporting, report writing, help with presentations, risk analysis, management of external service providers, supporting the Senior Managing Director and the Managing Directors with business strategy and other tasks that help facilitate the team’s primary research and portfolio objectives. Specific task assignments to vary with the incumbent’s experience and skills as well as those of the rest of the team.
• Portfolio management: Develop a business case for a concentrated high conviction portfolio along with a reasonable benchmark or short portfolio. Lead, with a Managing Director, the approval process for the portfolio. Launch and run the portfolio.
• Research: research industry dynamics as context for the on-going fair-value analysis of 20 mid & large cap Canadian and U.S. stocks. Coverage to focus on companies with strong long-term value creation potential. Research includes:
• Industry analysis, including a thesis as to how long-term value is created in each industry.

Qualifications

• 5+ years leading or co-leading a Canadian or North American equity portfolio with a performance track record. If experience is co-leading, must be able to demonstrate that they are ready to solo lead such a portfolio. Track record should demonstrate the ability to add value in different market conditions. Should be able to explain how this portfolio relates to their investment philosophy and theory of alpha generation.
• Experience with analysis of ESG factors, experience reviewing compensation discussion & analysis disclosure
• Must have a philosophy and approach to equity portfolio risk management.
• University education in Business, Finance, Mathematics or another related field. Master’s degree or a CFA designation is an asset.
• 8-15 years of fundamental equity analysis, including analysis of industry attractiveness, and single stock valuation
• Must have experience working with a team
• Experience engaging with senior management and boards of public companies on issues of business strategy & results, compensation, and governance

Please provide a cover letter and brief summary of four specific points:

• A summary of your experience and approach to incorporating environmental, social and governance factors into company valuation, including a few specific examples.
• Overview of your view of public equity market efficiency in North America and the implications for successful public equity portfolio management, including exploitable sources of alpha;
• Description of your current approach to measuring and managing risk in the portfolio that you lead or co-lead, including any systems or tools you use for analysis;
• Summary of your experience leading or co-leading a portfolio, including size of assets managed, the number of stocks in the portfolio, the characteristics of the client, any tracking error constraints or expectations and the benchmarks for the portfolio;

Values, Competencies and Characteristics

HOOPP is a mission driven organization. HOOPP’s core values are: professional, compassionate, accountable, trustworthy, collaborative. HOOPP’s investment team has a strong sense of our fiduciary responsibility to safeguard the retirement security of our members. In addition to HOOPP’s core values, on the Public Equity team, we expect our team members to consistently demonstrate the following characteristics:

• Creative problem solver and Results- Driven
• A sophisticated and thoughtful approach to industry analysis and the fundamental analysis of individual equities, including well-defined criteria for finding a good investment.
• Strong written and verbal communication skills with both internal and external audiences.
• A philosophy of exploitable sources of alpha in developed public equity markets.
• Excellent project management skills, including the ability to reprioritize in a dynamic environment.
• A strong approach to risk management in an equity portfolio.
• Relationship Builder and Team-Player
• Accountable with a will to win and a strong focus on quantifiable results