Investment Manager Research Analyst - Equities

Job Locations US-PA-Philadelphia
Job ID
# of Openings



Headquartered in Harrisburg, PA, PFM Asset Management LLC (PFMAM) is among the largest investment-grade fixed-income managers in the United States. For the period ending December 31, 2019, PFM Asset Management LLC had $153.1 billion in total assets, including $113.1 billion in discretionary assets under management and $40.0 billion in non discretionary assets under advisement.


PFMAM specializes in managing investments for clients in the government, insurance, healthcare, higher education and other institutional sectors.  The firm manages short-term fixed income assets for operating funds and bond proceeds as well as longer-term multi-asset class portfolios.  For long-term assets, PFM provides experienced, independent investment consulting and asset management for institutional clients such as pension funds, endowments, foundations and healthcare and higher education institutions who employ a variety of asset classes in their portfolios including equities, various fixed income strategies, real estate, and other asset classes.


Our longer-term multi-asset class business is referred to as “Multi-Asset Class Management” or “MACM”.  PFM’s MACM business started in 2006 and is now responsible for the management of more than $13 billion in institutional assets. In this capacity, we serve as an Outsourced Chief Investment Officer (OCIO) and a discretionary manager-of-managers for various types of plan sponsors countrywide.


PFMAM’s MACM group is seeking an Investment Manager Research Analyst to be responsible for equity manager research, as well as some economic, macro and asset class research. This role will be based in our Philadelphia office.



  • Responsible for research and due diligence of equity investment managers, strategies, and funds
  • Formulate opinions and ratings of investment funds and strategies using a combination of qualitative and quantitative analysis, including manager meetings and various quantitative measures of relative performance, or formulates opinion of asset class opportunities and portfolio positioning
  • Organize, prepare for and lead meetings with current and prospect portfolio managers to discuss portfolio strategy, investment philosophy and process and strategy objectives
  • Provide peer group performance comparisons and analysis
  • Maintain coverage of existing managers and research new funds and strategies, or maintain coverage of global economies and asset classes
  • Maintain and continue to build approved list of managers
  • Write manager research reports for distribution to external clients and internal Investment Committee
  • Participate in various meetings including weekly research and monthly Investment Committee
  • Write and contribute to various monthly and quarterly reports distributed to external clients and internal Investment Committee.
  • Work on ad hoc projects and other duties as assigned




  • Bachelor’s degree in finance, economics, or other relevant discipline
  • At least 3 years of related investment experience involving investment manager research and due diligence or economic, macro and asset class research
  • Preference for international equity manager research and due diligence experience
  • CFA charterholder, or interest in pursuing CFA charter is preferred
  • Master’s degree in finance or MBA is desired (but not required)
  • Broad knowledge of capital markets and investment firms
  • Motivation and focus to outperform relevant benchmark(s)
  • Ability to work independently and as part of a team
  • Ability to manage and prioritize multiple projects, assignments, and deadlines
  • Strong analytical, writing and communication skills for interaction with colleagues, superiors, and external investment managers


Compensation includes a competitive base salary, bonus eligibility, and comprehensive benefits package.  PFM also offers the option for participation in profit sharing and 401K plans.



PFM is not offering visa sponsorship for this position.

PFM is an Equal Opportunity Employer (EOE, M/F/D/V) and maintains a drug-free workplace.


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