Portfolio Manager - London
At a glance
Manager-level Investment & Corporate Development role at Capula. London · full-time · no salary stated · we estimate £46,875–£133,161.
Capula has not published a salary for this role. The figure below is our estimate, not theirs.
financeroles summary, based on the employer's posting.
What you'll do
- Build and run discretionary or systematic macro and relative-value strategies across global markets, especially rates and FX
- Turn economic themes, central-bank decisions and market dislocations into trades across related instruments
- Control portfolio exposure by sizing positions and managing liquidity and drawdowns
- Work with trading, research and risk colleagues on trade construction and execution across swaps, futures, options and sovereign bonds
- Explain portfolio positions, results and risk to internal stakeholders, while refining strategies as markets change
What you bring
- A demonstrated record of generating alpha in macro or relative-value investing, backed by disciplined risk control
- Strong command of global economics, monetary policy and relationships across asset classes
- The ability to execute in developed and emerging-market rates and FX products
- A repeatable investment approach and the independence to manage a substantial allocation
Who this fits
This London-based role suits an experienced portfolio manager who can operate autonomously while contributing ideas and market views with colleagues. The position is onsite.
From the employer
Company Overview:
Capula Investment Management, founded in 2005, is a global investment manager specialising in absolute return, enhanced fixed income, macro and crisis alpha strategies. With offices across key financial centres globally and approximately USD 35bn in assets under management, the firm focuses on delivering low or negatively correlated returns to traditional equity and fixed income markets. Capula manages a range of strategies with a strong emphasis on relative value, macro and interest rate markets, supported by a sizeable and experienced investment team. The firm operates with a broad investment mandate, enabling it to trade across a wide range of global markets and instruments.
Requirements
Capula Investment Management is seeking experienced Portfolio Managers across a range of strategies, including but not limited to:
- Fixed Income Relative Value
- Macro (including credit, commodities, mortgages and broader cross-asset opportunities)
- Rates
- Crisis Alpha
- Quantitative and Systematic Strategies
In this role, you will be responsible for managing a significant capital allocation, implementing disciplined risk management, and operating within a highly specialised, research-driven environment. The firm places strong emphasis on collaboration, with regular dialogue around global macroeconomic developments, monetary policy, and interest rate markets.
We are looking for professionals who can generate differentiated insights within their investment universe, contribute to the firm’s broader macro and relative value perspective, and leverage shared expertise to deliver consistent, risk-adjusted returns.
Key Responsibilities:
- Develop and execute discretionary and or systematic macro and relative value strategies across global markets, with a focus on interest rates, FX and related instruments.
- Identify and express thematic and relative value opportunities driven by macroeconomic fundamentals, central bank policy and market dislocations.
- Actively manage portfolio risk within a disciplined framework, including position sizing, liquidity and drawdown management.
- Partner closely with trading, research and risk teams to optimise trade structuring and implementation across instruments such as swaps, futures, options and sovereign bonds.
- Continuously refine strategies in response to evolving market conditions and economic developments.
- Communicate portfolio positioning, performance and risk exposures clearly to internal stakeholders.
- Contribute to the broader investment platform through active participation in idea generation, market discussion and cross-team collaboration.
Qualifications:
- Proven track record of alpha generation within macro and or relative value strategies, supported by strong risk management discipline.
- Deep understanding of global macroeconomics, monetary policy and cross-asset relationships.
- Strong execution capability across developed and emerging market rates and FX products.
- Clear, repeatable investment process, with the ability to manage capital with a high degree of autonomy.
- Collaborative mindset, with the ability to contribute effectively within a team-oriented investment environment.
Benefits
Capula is committed to supporting all employees in developing their careers and delivering their best work. We offer a collaborative and high-performance environment where portfolio managers are empowered with resources, autonomy, and the opportunity to make a significant impact. Benefits include:
- A highly competitive base salary and discretionary bonus structure, reviewed annually
- 20 days of paid annual leave, plus public holidays
- Comprehensive medical and dental insurance, along with other core employee benefits
- Exceptional training, mentoring, and staff development opportunities to support continuous professional growth
- Exposure to a flat and agile organisational structure, enabling greater ownership and decision-making responsibility
- Onsite breakfast, lunch, and dinner provided daily in our employee restaurant
- Onsite gym facilities and corporate gym membership
- Access to a dynamic, intellectually engaging team with cross-asset collaboration and open communication
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