ETF Sub Portfolio Manager in London

A leading global hedge fund with approximately $35bn in AUM is seeking an experienced ETF Sub-Portfolio Manager to join a highly successful Delta One Senior PM in London. The role will work closely with a well-established, top-performing Portfolio Manager and will play a key role in alpha generation, risk management, and execution across global ETF and index-linked products.

This is a high-impact position offering significant responsibility, strong visibility, and a clear pathway toward increased capital and autonomy for top performers.

Responsibilities

Act as Sub-PM within a Delta One pod, contributing directly to P&L generation

Design, implement, and manage relative-value, arbitrage, and directional strategies across ETFs, futures, and index instruments

Identify pricing inefficiencies between ETFs, baskets, futures, swaps, and underlying constituents

Manage risk tightly, including intraday and overnight exposures, factor sensitivities, and liquidity constraints

Partner closely with the lead PM on portfolio construction, idea generation, and trade structuring

Work with execution, trading, and technology teams to optimise trade implementation and reduce costs

Monitor market microstructure, flows, rebalances, index changes, and corporate actions

Contribute to ongoing enhancement of models, tools, and analytics supporting the Delta One strategy

Requirements

Proven experience in ETF trading at a hedge fund, proprietary trading firm, or top-tier investment bank

Strong track record of risk-adjusted returns as a trader, sub-PM, or PM

Deep understanding of ETFs, futures, swaps, index arbitrage, and basket trading

Excellent risk management discipline and ability to operate within tight drawdown and volatility limits

Strong quantitative and analytical skillset; coding experience (Python, VBA, SQL, or similar) is advantageous

Ability to thrive in a fast-paced, performance-driven hedge fund environment

Entrepreneurial mindset with a collaborative approach to working within a pod structure

For more information: thomas@pointonetalent.com

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