Fund manager

Interview with fund manager Alois Wögerbauer, CIIA

Fund managers are responsible for investing their clients' money with the aim of generating returns. A good understanding of mathematics and strong logical thinking are important skills for this. In the following interview, Alois Wögerbauer explains what the job involves and what it takes to be a successful fund manager.

Mr Wögerbauer, you are a fund manager at 3 Banken Generali Investment GmbH. What are the responsibilities of a fund manager? What does the job involve?

Wögerbauer: Clients entrust us with their money and expect us to justify that trust by generating good returns, always within the opportunities and constraints of the respective asset class. Everything we do revolves around one key question: How can I create added value for the client and outperform the market?

To outperform the market, you need the confidence to form and act on your own views rather than simply tracking an index. This means continuously building expertise in the market segment you are responsible for.

For me, fund management remains one of the most exciting professions. No two days are the same, and you always have to keep your eyes open to what is happening around you. Markets are interconnected, so the job gives you a broad perspective on economic and political developments around the world. This perspective is valuable in your personal life as well.

What does a typical working day look like for you?

Wögerbauer: There are different approaches within the fund management industry. At 3 Banken-Generali, we strongly believe in a team-based approach. Markets are influenced by many different factors, including interest rates, central banks, currencies, commodities and, increasingly, global politics. There is also fundamental analysis and technical analysis to consider. No single person can cover all of these areas in sufficient depth.

A key part of the working day therefore involves gathering and evaluating information relevant to your area of responsibility, discussing it within the team and agreeing on a coordinated course of action.

What qualifications and skills do you need to work as a fund manager?

Wögerbauer: In addition to a solid education and as much experience as possible in financial markets and economics, two qualities are particularly important.

First, you need the confidence to form your own views and take responsibility for your decisions. At some point, every analysis has to result in a clear decision: buy or sell? Investors entrust us with significant amounts of money and expect us to act decisively.

Second, you need to be able to distinguish what really matters. We live in a world of information overload. The key questions are: Which issues have the potential to change the market or affect a company? And which topics may receive a great deal of media attention but ultimately have little real significance?

Are there any specific requirements that applicants should meet?

Wögerbauer: Decisiveness and a willingness to take responsibility are essential, as I mentioned earlier. Fund managers should also try to remain as objective as possible when assessing a situation.

When everyone is optimistic, or everyone is pessimistic, simply following the crowd is rarely the best approach. Instead, you should step back and analyse the situation objectively, without allowing emotions to influence your judgement.

Thank you very much for the interview!