Equity Domestic Research Analyst I-Low -1704537
Company: Fidelity Investments
Location: Boston, MA
Posted on: May 19, 2017
Job Description:
Duties: Fidelity’s global Equity Capital Markets (ECM) team is
focused on creating unique investment opportunities and managing new issue
processes for the benefit of Fidelity’s client investor funds. Our
objective is to enhance investment performance and to maximize the deployment of
investment capital against attractive opportunities. We are currently recruiting for a Research Analyst to join our
office based in Boston. The Analyst will report to the Chief Investment
Officer/Head of Equity Capital Markets. Primary Responsibilities This Analyst will be responsible for both identifying new
opportunities and monitoring existing positions within assigned Equity Capital
Market positions. This Analyst will work closely with the Portfolio
Managers, other Analysts, and members of the Equity Capital Markets team
while playing a vital role in contributing to the investment
performance of those products. Specific responsibilities include: 1. Generate and validate new ideas that are consistent with the
team’s investment process. Specifically, idea generation involves: a. Investigating private placement opportunities generated by
the proprietary process to identify potential to meet the fund’s key
criteria of attractive valuation and future positive change. This process
typically requires a quick look and, for those companies that continue to
meet the fund’s criteria, more extensive fundamental analysis. b. Identifying companies through Analyst’s own process of
monitoring opportunities in his/her sub-sector area(s) by, for example,
using screens, Fidelity research, and sell-side research. 2. Perform Fair Value (FV) analysis on 15+ illiquid securities
held in the Fidelity Funds on a monthly basis using Discounted Cash Flow
(DCF), comparable multiples, comparable transactions, and other
valuation approaches. Collect and maintain the necessary documentation for
the inputs into the FV process. Discuss the FV inputs and process with
internal and external auditors. 3. Maintain coverage of assigned positions held in the
required portfolios. Specifically, coverage involves: a. Performing industry analysis -- monitoring trends and
developing a view regarding the relative attractiveness of the assigned sub
sectors. b. Maintaining up-to-date recommendations and target prices. c. Creating and maintaining proprietary financial models and
valuation analysis. d. Monitoring investment thesis to track progress of
improving dynamics and other critical variables. e. Conducting proprietary research. f. Collaborating with other Fidelity Analysts. g. Interacting with company management through meetings and
calls. 4. Communicate updates and recommendations to the Fidelity
investment organization. The most important form of communication will be
in-person discussions, supplemented by brief written reports, voicemails,
and emails. Requirements: Bachelor’s degree (or foreign education
equivalent) in Economics, Finance, Business Administration, Mathematics, or a
closely related field, and two (2) years of experience in the job
offered or two (2) years of experience in buy-side fundamental equity research
within the technology sector. Candidate must also possess: Demonstrated
Expertise (“DE”) developing long-term investment strategies within the
technology sector -- specifically Telecommunications Equipment Supply Chain
verticals, or Semiconductor and Electronic Supply Chain verticals -- to
inform stock selection recommendations for portfolio managers throughout the
business cycle; DE developing sensitivity models to analyze the impact of
macro events, including impact of unit demand on company-specific
business models within the technology sector -- specifically Telecommunications
Equipment Supply Chain verticals, or Semiconductor and Electronic Supply
Chain verticals; DE analyzing technology business models and market
cycles -- market share, product differentiation, customer preference,
earnings and revenue projection -- and performing proprietary equity research
and analysis (including building earnings forecasts and revenue
models using Excel, Bloomberg, and FactSet); and DE conducting interviews of
C-level executives of publicly traded companies, industry experts, and
industry participants -- competitors and suppliers -- to develop
actionable investment insights to support stock selection recommendations
for portfolio managers. To apply, visit http://jobs.fidelity.com and search for Job
Number 1704537.
Keywords: Fidelity Investments, Somerville , Equity Domestic Research Analyst I-Low -1704537, Finance , Boston, MA, Massachusetts