Michael Armitage
Summary
Experienced Investment Specialist/Strategist with a background in product development and portfolio solutions for leading organisations. Prior senior roles within risk management, external manager selection and portfolio construction have granted me an excellent comparative understanding for various capabilities and communicating to various stakeholders effectively. Senior experience within capital markets, derivatives and business development to institutional and wholesale advisory channels compliments my technical understanding with commercial skill. Key strengths within critical thinking, content development, communication, and business development have provided success in elevating leading asset management firms and capabilities in Australia. Certified as a Chartered Alternative Investment Analyst (CAIA).
Overview
33
33
years of professional experience
1
1
Certification
Work History
Investment Specialist/Commercial Development
Fundlab Strategic Consulting
10.2012 - Current
- FundLab serves as a consultant to several investment capabilities, including institutional alternative, multi-asset teams and traditional investment managers with a focus on High Net Worth and Wholesale advisory channels
- Roles include research, improvement, and development of market positioning, content development and support of business development strategy for asset management groups raising of capital in Australia at institutional, model portfolio, platform, and IFA channels.
- Prior roles within hedge fund portfolio management, actuarial risk management, research house ratings, and investment consulting including portfolio allocation, provides key technical knowledge of broad array of strategies to communicate effectively. Further, understanding various gatekeeper needs adds to my ability to position strategies effectively
- Developed strong relationships with clients, ensuring trust and loyalty through consistent communication and personalized service.
- Conducted comprehensive market research to identify new investment opportunities and stay current on industry trends.
- Presentation experience to various stakeholders including institutional investment committee and industry conferences.
Partner – Investment Consulting
Mercer Investments, Mercer Australia
02.2019 - 08.2019
- My role was focused upon consulting with institutional clients (superannuation, retail platforms and insurance) delivering a broad range of investment advice, and presentations to Investment Committees
- Responsible for manager strategy evaluation, manager selections across traditional and alternative investments
- Mentored junior associates, providing guidance on case strategy and professional development opportunities.
- Consult on various asset allocation philosophies including Mercer Lifecycle, SAA and DAA formats
- Member of Pacific Investment Committee (PIC)
Director – Head of Fund Solutions
Milliman FRM , Sydney Australia
09.2013 - 02.2019
- Key aspects of my role were the spearheading a new business line for Milliman in Australia within implemented consulting and product development for Managed Risk Equity and Retirement solutions
- Practice focused upon quantitative research and solutions including reshaping return distribution, management of downside risk and efficient factor exposures
- Clients included Australian Superannuation, Insurance, DB and asset management companies building bespoke retirement solutions
- Daily activities include: Working with Milliman global research and capital markets teams in strategy research/testing and client solution customisation for bespoke multi asset and growth ‘managed risk' and retirement focused strategies, Portfolio Construction, parameters settings for volatility, left tail minimization, and max
- Risk/return profiles, Model, build, test quantitative rules-based strategies including monte carlo simulation for goals-based outcomes,
- Relationship management with pension asset managers, insurance investment teams and asset management companies developing retirement and risk managed solutions,
- Represent Milliman at industry conferences, board reviews and client roadshows, Development of ‘thought leadership' content and research papers
- Enhanced team collaboration through regular communication, goal setting, and performance evaluations.
- Boosted client satisfaction rates through exceptional relationship management and prompt resolution of issues.
- Secured key partnerships that contributed to the company''s overall growth strategy and market reach.
Director (Fund Manager Managed Research & Ratings)
S&P Capital IQ, Sydney Australia
01.2010 - 10.2012
- My role as Director (Alternative) - Managed Funds Research, managed 3 direct reports and was responsible for the qualitative/quantitative review and ranking of over +190 global manager/strategies across alternative equity (long/short/ market neutral,, traditional asset classes and broader alternatives including multi manager products
- Research included review and articulation of various equity styles and factor characteristics, quantitative strategies and other rules based hedge fund strategies
- Senior member of research and technical standards committees developing the ratings framework and scoring system for one of Australia's largest managed research businesses
- Work with adviser groups in their understanding of efficient portfolios using various investment strategies
- Increased company revenue by streamlining processes and implementing cost-saving measures.
- Enhanced team collaboration through regular communication, goal setting, and performance evaluations.
Portfolio Manager/Founder (Global Macro/Volatility)
AlphaPoint Capital LLC, San Diego CA
03.2005 - 12.2009
- AlphaPoint Capital LLC was a boutique asset management firm founded by Michael Armitage to focus upon volatility, macro and absolute return style trading strategies
- Flagship strategy was continuation of systematic program created for Sunrise Capital Partners focused upon volatility within Global Macro, FX, Equities and Gold markets
- Options and derivative trading strategy
- Established and managed the end-to-end investment policy, investment process and risk management framework of asset manager
- Responsible for all risk management design and implementation, strategy research and execution of strategies, including software development with in-house programming quant
- Founder of start-up fund management boutique
- Responsible for qualitative/operational set-up of firm including custody, administration, audit and prime brokerage functions.
- Enhanced portfolio performance by implementing effective investment strategies and risk management techniques.
- Increased client satisfaction by providing tailored financial advice and timely market updates.
Investment Officer – Manager Research & Portfolio Construction
Alternative Investment Consultants, San Diego CA
03.2008 - 11.2009
- Executed in-depth reviews of global managers within liquid alternatives, managed futures , Short Term Quant, macro strategies
- Developed portfolio construction and recommendations based upon qualitative and quantitative analysis
- Quantitative research of hedge fund/alternative managers, benchmarks, and risk – portfolio optimization
- Product development included the composite portfolio risk management and ability to use derivative overlay to reduce unwanted exposures
- Market education to pension and asset consultant community
- Provided excellent customer service, cultivating long-term relationships with high-net-worth clients.
- Established strong partnerships with external vendors, ensuring access to valuable resources for successful investment execution.
Portfolio Manager/Research Option Trading Strategies
Sunrise Capital Partners, Solana Beach CA
02.1999 - 03.2005
- Full life cycle research and development of systematic option volatility trading system for large US based CTA
- Sunrise grew from 450 million to +3 billion USD fund manager during the period of my engagement
- Researched non-correlated trading strategies and portfolio optimization for diversified portfolio of strategies including short volatility programs and tail risk solutions
- Focus (FX, Commodity, Equity, and rates) – drove quantitative research/testing with in-house programming staff (VB, C#, SQL)
- Interacted with Consultant and Institutional Due Diligence including global leading Pension Funds
- Program recognised as one of the first systematic volatility trading strategies from alternative investment manager.
- Enhanced portfolio performance by implementing effective investment strategies and risk management techniques.
- Increased client satisfaction by providing tailored financial advice and timely market updates.
Emerging Markets Fixed Income Derivatives
ICAP, Cantor Fitzgerald and Tradition North America
01.1995 - 01.1999
- Senior member of market leading team responsible for business development and sell-side wholesale brokerage business within inter-bank market
- The team was leading broker within emerging markets fixed income derivatives
- Research and creation of derivative markets surrounding emerging market credit, introducing new products for interbank community including CDS on emerging market sovereign debt
- Responsible for new business development, relationship building and gaining execution business from the largest financial institutions
- Enhanced market understanding by conducting in-depth research on emerging markets and their investment opportunities.
- Established strong relationships with clients and stakeholders in targeted regions, expanding the company''s presence in emerging markets.
- Spearheaded thought leadership initiatives, creating valuable content that showcased the firm''s expertise in this niche area of finance.
Derivatives Trader
Sumitomo Bank, New York NY
11.1990 - 01.1995
- Proprietary Trader within FX and FX options for the largest Japanese Bank in FX market
- Significant option portfolio management of global options book, P/L performance consistently exceeded budget (>3mm p.a.)
- Maximized trading profits by analyzing market trends and executing strategic trades in a timely manner.
- Developed and implemented risk management strategies for the derivatives portfolio, reducing overall exposure.
- Collaborated with sales team to provide clients with tailored hedging solutions, increasing client satisfaction.
- Maintained strong relationships with key market participants, fostering a network of information sharing for better decision making.
Education
Bsc. of Business Administration/Finance -
Villanova University
Villanova, PAInternational Economics Programme -
University of London – Imperial College / Boston University
London, UKSkills
- Investment Technical Understanding
- Communication Skill and Experience for Content Development and Presentation
- Critical Thinking - Problem Solving
- Qualitative and Quantitative Investment Analyst
- Business Development, Relationship Management
- Market Research
- Alternative Investments
- Capital Markets
- Creative Thinking and Self Motivated Professional
- Self-Directed
- Interpersonal Communication
- Active Listening
Certification
Chartered Alternative Investment Analyst, 2007
Articles
- Keeping One's Powder Dry - Defensive Alternatives, https://www.linkedin.com/pulse/keeping-ones-powder-dry-defensive-alternatives-michael-armitage-caia/
- Hedge Fund Rocks, https://www.linkedin.com/feed/update/urn:li:activity:6928195538022522880/
- Lucky Hedge for Australians - Gold vs AUD, https://www.linkedin.com/pulse/lucky-hedge-australians-gold-vs-aud-michael-armitage/
- Failings of Diversification Benefits in Multi-Tiered Strategies, https://www.linkedin.com/pulse/failings-diversification-benefits-multi-tiered-michael-armitage/
- The Cost of Diversification, https://www.fssuper.com.au/media/library/FS_Super/FS_Super_-_The_cost_of_diversification_-_Matterson_and_Armitage.pdf?d9016
- Inside Investor, https://insideinvestor.com.au/?p=19050
Industry Participation
Australian Hedge Fund Industry Awards – Hedge Fund Rocks – Judge (2019 – Current)
AIMA - Educational Committee (2012)
Timeline
Partner – Investment Consulting
Mercer Investments, Mercer Australia
02.2019 - 08.2019
Director – Head of Fund Solutions
Milliman FRM , Sydney Australia
09.2013 - 02.2019
Investment Specialist/Commercial Development
Fundlab Strategic Consulting
10.2012 - Current
Director (Fund Manager Managed Research & Ratings)
S&P Capital IQ, Sydney Australia
01.2010 - 10.2012
Investment Officer – Manager Research & Portfolio Construction
Alternative Investment Consultants, San Diego CA
03.2008 - 11.2009
Portfolio Manager/Founder (Global Macro/Volatility)
AlphaPoint Capital LLC, San Diego CA
03.2005 - 12.2009
Portfolio Manager/Research Option Trading Strategies
Sunrise Capital Partners, Solana Beach CA
02.1999 - 03.2005
Emerging Markets Fixed Income Derivatives
ICAP, Cantor Fitzgerald and Tradition North America
01.1995 - 01.1999
Derivatives Trader
Sumitomo Bank, New York NY
11.1990 - 01.1995
Bsc. of Business Administration/Finance -
Villanova University
International Economics Programme -
University of London – Imperial College / Boston University