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Money Management

Money Management. Definition.

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Money Management

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  1. Money Management

  2. Definition • The process of budgeting, saving, investing, spending or otherwise in overseeing the cash usage of an individual or group. The predominant use of the phrase in financial markets is that of an investment professional making investment decisions for large pools of funds, such as mutual funds or pension plans.

  3. Portfolio Manager • Portfolio managers will usually work for a money management firm or pension fund to select and manage investments which meet the goals of a group of investors. Many managers now work in specialized commodity funds or hedge funds. Portfolio managers have different styles ranging from a bargain-hunting approach (value investing) to a growth stock selection approach. This work requires patience, discipline and a strong understanding of financial markets and companies.

  4. Top Firms (2007) • 1. State Street Global • 2. Barclays Global • 3. Fidelity Investments • 4. Legg Mason • 5. Mellon Financial • 6. Black Rock • 7. AIG Global Investment • 8. Northern Trust Global • 9. Wellington Mgmt. • 10. Vanguard Group

  5. Skills • People skills: High • Sales skills: Medium • Communication skills: High • Analytical skills: High • Ability to synthesize: High • Creative ability: Medium • Initiative: Medium • Work hours:55-75/week

  6. Investments Opportunities • Fixed income securities • mortgaged-backs • corporate bonds • municipal bonds • agency securities • asset-backed securities • Equities • small stocks • large caps • emerging market stocks

  7. Tips • Think About How You Are Going to Get Started • Know that this is a career • It's Important to Have a Broad Understanding of Business • Must be Able to Take Risk • Be comfortable handling others money

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