Job Description

GCB 4

We are currently seeking a high calibre professional to join our team as a Principal, Hedge Fund Research.

In this role you will:

Investment Research and Due Diligence

• Conduct initial and ongoing due diligence on hedge fund managers, assessing investment philosophy, process, organization, team, competitive advantage and alignment of interests.
• Evaluate portfolio construction, liquidity, leverage, capacity, concentration and risk-management frameworks.
• Analyse performance, risk-adjusted returns, drawdowns, factor exposures, attribution and peer-relative results.
• Assess whether performance and portfolio positioning are consistent with the manager’s stated process and risk parameters.
• Conduct manager meetings, on-site visits, reference calls and due diligence interviews.
• Monitor material changes in personnel, process, ownership, performance, positioning and risk, escalating concerns promptly.
• Produce initial due diligence reports and periodic review reports, monitoring notes, Investment Committee papers and client-facing commentary.
• Make clear, evidence-based investment recommendations and maintain complete, accurate and timely research records.

China and Regional Research

• Develop detailed knowledge of the mainland China and Greater China hedge fund markets.
• Source and evaluate prospective managers, including China-domiciled funds and qualified offshore managers.
• Monitor relevant changes in market structure, liquidity, regulation, policy and investor positioning.
• Maintain relationships with managers, industry participants and other relevant market contacts.
• Partner with China onshore Private Banking to evaluate proposed funds and support business growth.
• Support manager and strategy research in other regions as required.

Strategy and Portfolio Analysis

• Contribute to top-down strategy research, including market outlooks, opportunity-set assessments and relative-value analysis.
• Support portfolio assessments covering strategy allocation, diversification, liquidity and aggregate risk.
• Identify emerging opportunities and potential sources of manager or portfolio risk.

Impact on Business

• The role enables HAIL to provide full investment coverage of the current and prospective hedge fund investments.
• The role enables HAIL to support the client facing teams in AMG and GPB with timely information with regards to the hedge fund investments.
• The roles enables HAIL to construct meaningful top down strategy analysis with which to manage and advise on assets across the group.

Key Stakeholders

• Hedge fund research teams and portfolio management.
• China onshore and Global Private Banking.
• Operational due diligence, Risk, Compliance and Legal.
• Institutional clients and client-facing teams.
• External hedge fund managers and industry participants.

Leadership and Teamwork

• Collaborate with global investment due diligence, operational due diligence and portfolio management colleagues.
• Build effective relationships with China onshore Private Banking and other internal stakeholders.
• Contribute constructively to investment discussions and share relevant research and market intelligence.

Operational Effectiveness and Control

• Maintain complete, accurate and current due diligence and monitoring records.
• Obtain required information from managers and escalate material concerns promptly.
• Use data, analytical and AI tools in accordance with HSBC policies and confidentiality requirements.

Major Challenges

• Managing multiple manager reviews, monitoring requirements and competing deadlines.
• Obtaining reliable and timely information where manager transparency varies.
• Distinguishing temporary underperformance from a fundamental deterioration in an investment proposition.
• Producing rigorous, decision-useful research within demanding timeframes.
• Maintaining expertise across multiple hedge fund strategies while developing specialist knowledge of mainland China.
• Addressing due diligence requirements in coordination with Risk, Compliance and Legal.

To be successful you will need:

Essential

• Bachelor’s degree in finance, economics, mathematics, statistics, engineering, computer science or another relevant numerate discipline.
• Professional fluency in English and Mandarin, including the ability to conduct manager meetings and review investment materials in both languages.
• Relevant experience in hedge fund research or manager selection.
• Strong knowledge of hedge fund strategies, investment processes, portfolio construction and risk management.
• Experience analysing performance, attribution, exposures, liquidity, leverage, capacity and risk.
• Demonstrated ability to produce evidence-based due diligence reports and investment recommendations.
• Ability to present conclusions clearly to Investment Committees and senior stakeholders.
• Strong written communication, organization and time-management skills, with high attention to detail.
• Proficiency in Microsoft Excel, PowerPoint and Word.
• Proactive, accountable approach and willingness to travel periodically to mainland China.

Preferred

• Master’s degree or CFA, CAIA, FRM or another relevant professional qualification.
• Knowledge of the mainland China and Greater China hedge fund landscape.
• Understanding of Chinese fund structures, regulation and market-access arrangements.
• Experience using investment-data, performance-analysis or risk-management platforms.
• Experience applying data analysis, automation or AI tools to investment research and reporting.

Opening up a world of opportunity

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Issued by The Hongkong and Shanghai Banking Corporation Limited.

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