Developed Fixed Income Rates Strategist

Company Profile

Founded in 1977, GMO is a global investment manager committed to delivering superior long-term investment performance and advice to our clients. We offer investment strategies and solutions where we believe we are positioned to add the greatest value for our investors. These include multi-asset class, public equity, public credit, and liquid alternative offerings.

We manage approximately $68bn for a client base that includes many of the world’s most sophisticated institutions, financial intermediaries, and private clients. Industry-wide, we are well known for our focus on valuation-based investing, willingness to take bold positions when conditions warrant, and candid and academically rigorous thought leadership. Jeremy Grantham, GMO’s Co-Founder and Long-Term Investment Strategist, is renowned as an expert in identifying speculative investment bubbles and also as a leading climate investor and advocate.

GMO is privately owned and employs over 430 people worldwide. We are headquartered in Boston, with additional offices in Europe, Asia and Australia. Our company-wide culture emphasizes commitment to clients, intellectual curiosity, and open debate. We celebrate and respect our differences, while embracing and valuing what each of us brings to work, as we know that diverse teams in an inclusive, caring environment achieve higher engagement and better client results.

Please follow the prompts included in this job posting to apply. The application window for this role is anticipated to remain open until the job is filled, or as otherwise determined by GMO.

Working with the Developed Fixed Income team, in partnership with Asset Allocation, the Developed Fixed Income Rates Strategist will generate and represent investment ideas in the bond markets.  They will work closely with researchers and portfolio managers within the teams and take primary ownership of duration positioning for existing and new portfolios.  This role will report to the Head of Developed Fixed Income, but work very closely with Portfolio Managers in Asset Allocation.  The role is Boston based with a hybrid schedule (minimum of three days in the office).  

Responsibilities:

•Generate investment ideas and opinions in the bond markets – specifically focused on the government or risk-free parts of the market throughout the developed space (US, UK, Japan and Europe). 

•Generate creative relative value trade ideas in the interest rate space that could be used in Developed Fixed Income or Asset Allocation portfolios.  

•Develop an investment thesis on duration and curve positioning for existing Developed Fixed Income portfolios, as well as any new portfolios. 

•Stay up to date on interest rate and currency markets, highlight noteworthy changes to the Fixed Income Quant team, as well as Asset Allocation.

•Leverage a fundamental framework while considering quantitative inputs to develop fundamental views to complement and improve our existing interest rate models. 

•Research and propose duration positioning within all developed markets (both US and overseas) within Asset Allocation Fixed Income portfolios. 

o Understand the objectives, constraints and positioning for each of the Asset Allocation strategies.

o Partner with Asset Allocation to determine duration and key rate targets.  

o Translate model output into positioning and trades.

o Ensure proper positioning and risk targets.

o Provide detailed performance and attribution reporting.

•Act as an effective sounding board, engage in intellectual debate with Asset Allocation to result in the best outcome for the portfolios. 

•Partner with the Fixed Income Quant Research team to think critically about model output:

o Evaluate and assess any hidden risks that would make the model vulnerable in the market environment.

o Consider and propose what research or enhancements would be most helpful for the portfolios.

o Evaluate if the portfolio construction process provides the right balance of risk contribution.

•Communicate effectively across Developed Fixed Income and Asset Allocation.

• 8 years of industry experience, including relevant Fixed Income investment experience.
• The individual should be a self-starter with a demonstrated passion for investing.
• A strong understanding of financial markets, and an understanding of Fixed Income analytics is required.
• The individual should have the ability to both generate and effectively communicate portfolio ideas through effective spoken communication, across both Developed Fixed Income and Asset allocation, as well as with other investment teams.
• Demonstrated experience generating and implementing high conviction investment ideas in G10 rates and FX.
• Deep understanding of individual risk factors—including duration, curve, and liquidity risks—with a demonstrated ability to identify, quantify, and mitigate exposures through both analytical tools and market intuition.
• Extensive knowledge of G10 sovereign bond markets, macroeconomic drivers, and their impact to underlying investment strategies.
• Expertise in the technical structure and market dynamics of FX and interest rate related securities, including forwards, futures, swaps, options, and sovereign bonds. Experience with inflation linked products a plus. Trading experience a plus.
• Effective oral and written communicator with the ability to work closely with Portfolio Management, Research, and Trading to integrate views and refine strategies across fund vehicles.
• Ability to work in a collaborative, intellectually rigorous environment.
• Experience with Python, Matlab, or related programming languages a plus.

GMO is committed to the recruitment, employment, and promotion of all candidates equally, regardless of an individual's gender, race, color, national origin, ancestry, age, religion, pregnancy, marital status, sexual orientation, gender identity or expression, military or veteran status, genetic information, physical or mental disability (except where such disability is a bona fide occupational disqualification) or any other classification protected under federal, state or local law.

Salary : $150,000 - $175,000