We are looking for a long term investment...
Fund Associate – Real Estate Income (Long Lease Property)
Working with M&G Prudential as a Fund Associate in the Real Estate Income Team means becoming part of a brand with a global reputation and an exciting vision: to become the best loved and most successful savings & investments business.
The forthcoming planned de-merger of M&G Prudential from the Prudential Group PLC provides a terrific opportunity to create a truly international and integrated savings and investments firm. A firm built on a rich and long history and with a commitment to an innovative future centred on the needs of customers and clients. There is a genuine opportunity to drive competitive advantage with value creation through the formation of this new organisation.
If you’re inspired to join us, and have the necessary qualities, then this could be the opportunity you’ve been looking for.
• To assist in the transaction activity of the REI funds (SPIF, SLIF, ESPIF, Annuities)
• To assist in the day to day management of the REI Funds
• To assist in the marketing and investor communications of the Real Estate Income (REI) funds
• To assist in ensuring that the necessary support and correct procedures are being followed by parties connected to REI
The Real Estate Income business at M&G is responsible for the management of M&G’s long lease property investment activities on behalf of both the Prudential and external institutional clients. It currently has around £7.5 billion of assets under management and the flagship product of the business is the M&G Secured Property Income Fund (SPIF) with assets of £4.0 billion, currently the largest pooled institutional real estate Fund in the UK. The Fund invests across all sectors of the market including hotels, healthcare, residential, student accommodation and leisure in additional to office, retail and industrial assets. Other key strategies include the M&G European Secured Property Income Fund (ESPIF) and M&G Secured Lease Income Fund (SLIF) along with other real estate based inflation-linked income and fixed income credit arbitrage transactions for various segregated account mandates. These strategies are delivered by a team of 15 investment professionals working in partnership with colleagues across M&G's Fixed Income and Real Estate divisions.
• Analysis of suitable new investment opportunities and making purchase recommendations to the relevant Fund Manager
• Assist in the preparation of investment committee papers and appropriate deal analytics
• Assist in active management of existing properties
• Monitor and ensure compliance with the investment policies and restrictions of the fund
• Assist in the provision of adequate investor, consultant, compliance and internal reporting
• Assisting with capital management (capital queue management, drawdowns, payments, reporting, etc.)
• Develop and maintain strong relationships with key internal stakeholders and external service partners
Job & Personal Skills
This role will be suitable for someone who has an interest in transacting and managing a portfolio of hybrid real estate/illiquid credit assets and dealing with a sophisticated institutional investor base. It is recognised that candidates are unlikely to have specific experience in long lease property.
A general understanding of, and interest in, real estate fund management and experience in credit analysis would be ideal but the absence of this will not exclude an otherwise well-qualified candidate.
The key skills for the role are:
• Very strong analytical skills and attention to detail
• Highly numerate
• Good level of proficiency in Excel and sound financial modelling skills
• Excellent oral and written communication skills
• Highly motivated person and self-starter: ability to work independently and use initiative
• Team oriented person and ability to work across different business units
• Ability to prioritise, meet deadlines and work under pressure
• Flexible approach to role and responsibilities.
Likely to be degree educated possibly with CFA qualifications.
A real estate fund management/investment or credit background would be useful.
Knowledge & Experience
Likely to have specific of working in fund management/financial services. Must have the ability to analyse and model cash flows from a property.
Desirable attributes include:
• Knowledge of credit analysis and ratings.
• Understanding of UK and continental European property market.
• Understanding of decision making of pension funds and pension fund consultants and reporting requirements of investors.
People who work at M&G Prudential agree that ours is a great place to work with a brilliant team spirit. It’s also an innovative, high-performing, commercial environment that’s totally focused on customers. As an M&G Prudential colleague you’ll get all the support you’d expect, including full training and professional development. You’ll receive a competitive salary and reward package. And in a fast-changing world, you’ll join an organisation that’s leading the way in helping customers achieve their long-term financial goals.
M&G Prudential is committed to a diverse and inclusive workplace. Our role as an employer is very simple – to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.
We welcome applications from individuals who have taken an extended career break, and we are willing to consider flexible working arrangements for all of our roles.