Senior High Yield Trader

Description:

The Credit Investment Team at Purpose Unlimited is an autonomous business unit and OSC registrant that manages the Purpose Credit Opportunities Fund and the Purpose Strategic Yield Fund. The group runs $1.4 billion in AUM and has a culture of absolute return investment success and partnership.

We are seeking a highly analytical and detail-oriented Senior High Yield Trader to join our team at Purpose Investments. This role will be the capital markets eyes and ears of the desk that result in new idea generation and loss prevention. The objective of the role is to facilitate investment idea generation by overseeing the investment process of the group and staying on top of capital markets activities both new issues and secondary markets. Additionally, there is potential for sector-specific coverage as an investment analyst.

Responsibilities:

• Ensure regular investment reports/analyses are generated and processes are documented including investment screens, trading reports, and daily P&L.
• Lead and oversee the investment process for activities that lead to idea generation.
• This includes measuring group progress in activities that lead to idea generation including company meetings, site and conference visits, analyst and sell-side meetings, and other non-traditional research.
• Manage process for staying on top of existing holdings including relevant data series with correlation to changes in fundamentals for relevant positions and earnings previews for positions based on size threshold.
• Stay on top of daily new issue activity and flag interesting ideas for the group. Conduct relative value analysis on new issues based on existing bonds and comparable issuers.
• Interact with sell-side dealer counterparty trading desks to get the best fill and allocate trades based on potential new issue activity and idea generation.
• Pitch and execute trade ideas to produce uncorrelated P&L.

Qualifications:

• Experienced fixed-income credit trader or capital markets professional
• Strong fundamental business education (BCom, HBA, MBA, CFA) or advanced accounting knowledge
• Proven detail-oriented process and managerial skills (investment or non-investment setting).