Fixed Income

Graduate Programme

Investment management. Fund management. Portfolio management. They’re all generic terms for what we do but we usually refer to our front-office business as Asset Management, as it’s where our investment decisions are made. It’s here that you’ll find Portfolio Managers, Research Analysts, Traders and Quantitative Specialists working in Equities (stocks and shares) or Fixed Income (bonds, gilts and similar), property, cash and commodities (goods and services). This is also home to Multi Asset, which invests across multiple-asset classes to get the best returns from a client’s fund or portfolio. 

Our Fixed Income Investment team manages money for investors across the globe. They do it by working collaboratively to look beyond traditional sources of information on risk to get the most intelligent, complete picture of an investment opportunity. The group comprises expertise in Portfolio Management, Trading, Quantitative and Credit Analysis, Investment Operations and Product. 

We have opportunities in the UK and Asia, so please apply to your location of choice. 

 

Rebecca - Fixed Income Graduate Programme
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Programme overview

What you'll be doing

On this two-year programme, you’ll spend at least three months in each of our Credit Research, Quantitative Research, Trading and Product departments, with an opportunity to spend a rotation in Asia. The experience you gain will give you a detailed understanding of all Fixed Income investments that Fidelity offers.

Our aim is to bring you up to speed as quickly as possible. Among other things, you’ll learn how to research and measure risk exposure, carry out financial modelling, prepare financial reports and interpret desk policies. All the while, you’ll be working out how best to develop the commercial aspects of our Fixed Income products.

Who we look for

You’ll need excellent attention to detail, a talent for multi-tasking and a flair for numbers. You will need to have high grades at A level and achieved (or be on track for) a 2:1. We want to see your motivation to work for Fidelity together with your ability to think for yourself, personal drive, communication skills and, of course, lots of intellectual curiosity.

Your training and development

We invest a lot in our graduates. In Fixed Income, we’ll prepare you to sit both the Chartered Financial Analyst (CFA) Level 1 exam and Investment Management Certificate (IMC). We support further training such as the CFA Levels 2 and 3, however, these are not mandatory.

Day in the life

How we make it happen

Through outstanding investment solutions and world class customer support, we do the utmost to help our clients achieve their financial goals. As part of that, we’re always on the lookout for new business opportunities, ways to refresh our investment product offering, as well as for prospective new clients to invest – something that calls for the expertise of a variety of teams across a number of stages. It’s the combination of their specialist knowledge that makes it all happen.

Use our interactive game to learn more about each step in the process

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Test your knowledge by ordering each step one through to eight on the right. You’ll get two chances to score eight out of eight.

If you’re interested in a particular part of the process, you can click through to view the related graduate programme or internship.

 

Business opportunity identified

Fidelity is always looking for new business opportunities and we go about it in two ways. If we have the investment capability to launch a new product, we look to our Investment Team to determine how it could be worked into a new product. On the other side of things, our Sales and Marketing team speak to clients; listen to their requirements and spot gaps in the market place for a new product.

If this part of the process interests you, find out more about our Sales and Marketing or Business Management graduate programmes.

New fund designed, approved and created on system

Once an opportunity has been identified by the Sales or Investment teams, the Product Development team will progress its potential launch by analysing the competitive market, assessing its asset gathering potential and pulling together a business case for submission to the product review group. Once the new fund has been reviewed and formally approved by the product review group, it's set up on the Fidelity accounting system and in every country and currency that it wants to invest in.

If this part of the process interests you, find out more about our Business Management and Operational Management graduate programmes.

Fund launched with marketing campaign

With the new fund secured, we'll look to the Sales and Marketing team to launch it into market through as many channels as possible. That might include traditional advertising like specialist financial and general publications, mail shots to existing clients, poster campaigns, conference presentations and direct sales pitches. But we'll also make the most of new media and social networking platforms like Facebook, Twitter and various websites and blogs in order to reach the widest audience possible.

If this part of the process interests you, find out more about our Sales and Marketing or Business Management graduate programmes.

New client decides to invest in fund

As a result of our wide spread Sales and Marketing activity, a client will decide to invest in the new product. To do that means contacting our Customer Contact Centre and giving instructions on how much is to be invested and in which funds. Similarly, if a client wishes to redeem their holdings and withdraw their cash, they also call to speak to our Client Services teams. As often the only members of staff that a private investor will ever talk to, our Client Services teams are critical to our operation.

If this part of the process interests you, find out more about our Sales and Marketing graduate programme.

Customer account set up and checks completed

Before a new client can place a deal with Fidelity, our Accounts team need to set them up on our systems - allowing us to record their investment in the funds they wish to buy and account for the cash that they send us. It's also vital to carry out stringent checks as to where the money is coming from to ensure it is from a bona-fide source - a process carried out by our Anti Money Laundering Team

If this part of the process interests you, find out more about our Operational Management graduate programme.

New client monies invested in fund

Once the client is set up, the Dealing team uses the cash they've invested to buy units in the fund. The units are bought at the NAV (Net Asset Value) price calculated at close the previous working day and based on the value of the assets owned by the fund at that point. As part of our Broker Services, we also charge a one-off initial fee to the client in order to cover the cost of buying the stock in the market.

If this part of the process interests you, find out more about our Equity Research, Fixed Income, Fidelity Solutions graduate programmes.

Fund manager manages the fund

Every morning the Fund Manager gets a cash flow report. It's up to the Portfolio Services Group to make sure that new client money is invested promptly and that there is enough cash in the fund to pay clients if they want to redeem their existing holding in a fund. From there, the Fund Manager draws on insight provided by our in-house team of Research Analysts to decide which stocks to invest the client money in, or which to sell. It's then down to the Traders to take the stock purchases and sales transactions to market where funds are bought or sold at a Net Asset Value (NAV) price - a price calculated by our Accounting team based on the value of the assets owned by each fund.

If this part of the process interests you, find more out about:

Fund performance calculated and fees charged

The performance of the fund is calculated on a daily basis by our Investment Statistics group. They monitor a fund's long-term performance compared to both its Index and similar funds run by competitors. Each fund is charged an annual management fee that's taken from the total assets owned by the fund so that all clients invested in the fund are charged equally.

If this part of the process interests you, find out more about our Business Management graduate programme.

Recruitment process

1. ONLINE TESTING

For this programme, you will firstly be required to take a numerical reasoning online test. You can only progress to the next stage of the recruitment process if you pass this test, so make sure you are prepared by practising the numerical test here

2. ONLINE APPLICATION

This is your first chance to impress us. Start by researching our business and the programme you’re interested in. Why do you want to work at Fidelity, and why you have picked this particular programme? Find out about our clients, services and competitors. Watch our video profiles. Use this site to see which programmes are best suited to your skills. 

As well as background questions, our application form has competency sections which require further thought around the business area you’re applying to. Give it your undivided attention and complete it accurately and in full. You don’t have to do it all in one go – you can save and log in as many times as you want with your username and password.

Please note: We recommend that you apply early for all programmes. If application numbers are high, we may decide to bring the application deadline forward.

3. TELEPHONE INTERVIEW

If your application is successful, we’ll ask you to sit a competency-based telephone interview. Lasting 30-45 minutes, it will be carried out by a member of our campus recruitment team. We’ll be looking to find out why you chose your specific business area (and us), as well as uncovering a bit more about your background and skills, and how you use these day to day.

We’ll ask you specifically about skills relating to the role, so be sure to re-read the requirements of your chosen programme. It’s worth having a copy of your application to hand for reference too. And be ready to talk about topical financial news issues.

 

4. ASSESSMENT CENTRE

Impress us in your telephone interview and you will quickly know whether you've made it to the assessment centre. The assessment day will involve a mix of technical and motivational interviews, an Excel test and a technical case study exercise.

During the day, you’ll also get to meet the team and current graduates who’ll give you a real feel for what it’s like to work for us. This is also your chance to decide if we’re the right company for you, so use it to gain as much information as you can.

 

5. FINAL ROUND INTERVIEW

Stand out at the assessment centre and you will be invited to a final round interview. This will be conducted with the graduate programme’s sponsor and they will be looking to find out what makes you tick and delve deeper into your performance at the assessment centre. This is your chance to shine so prepare well.

6. OFFER

If you’re successful at the final round interview, we’ll offer you a place on our graduate programme. You’ll have two weeks from the day you receive your offer to make a decision. We know you’ll have many questions at this stage and the Campus Recruitment Team will be on hand to guide you. We can even assign you a current graduate as a buddy to help with your decision making. Having gone through the process previously, they’ll be well-placed to answer questions and offer advice. Plus they’ll continue to be on hand to support you on your first day and beyond.

Deadlines

Applications close Wednesday 30th November 2016.