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Municipal Research Analyst



Merrimack, NH, USA
Posted on Tuesday, June 25, 2024

Job Description:

The Department

Fidelity’s Fixed Income Division is one of the world’s leading fixed income managers with over $1.8 trillion in fixed income assets managed by a staff of more than 200 investment professionals. At Fidelity, we combine fundamental research on debt issuers with macroeconomic and quantitative analysis to develop investment decisions that aim to maximize risk-adjusted total return for our clients. The Fixed Income Division is headquartered in Merrimack, New Hampshire, and has a team of more than 20 associates located in Fidelity’s London office.

The Role

The successful candidate will join the Municipal Research Group as an analyst, covering one or more municipal credit sectors with a primary emphasis on revenue-backed credits. The successful candidate’s coverage assignment will include a significant focus on credits rated ‘bbb’ and below, as well as core investment-grade credits. At Fidelity, analysts interact daily with the municipal portfolio managers and traders and play a vital role in determining the investment performance of the municipal funds. Analysts are highly valued, core members of the research and investment teams (which also include portfolio managers and traders) and actively participate in making investment decisions. The Fidelity municipal team manages approximately $86 billion of assets across bond funds, money market funds, and separately managed accounts.

The Expertise and Skills You Bring
The ideal candidate will have demonstrated experience and interest in municipal credit analysis. Applicants should be prepared to demonstrate an ability to identify and analyze relevant credit factors affecting municipal issuers, to form cohesive credit opinions and to communicate investment recommendations effectively to a broader investment team. At least 5 years of prior relevant municipal credit experience is preferred. The analyst will be responsible for managing a high volume of work flow, documenting investment recommendations and monitoring securities that may be held by Fidelity funds as well as opportunities in the broader market.

Additionally, the ideal candidate will have the following qualifications and attributes:

  • Bachelor’s degree

  • Advanced degree (e.g. MBA or MPA) is relevant but not required

  • At least 5 years of relevant experience as a municipal credit analyst

  • Well-developed relative value ability

  • Demonstrated success making fixed income investment recommendations

  • Ability to work collaboratively on a team of investment professionals

  • Strong analytical and critical thinking skills

  • Excellent oral and written communication skills

  • Good time management ability

  • Flexibility and skill in handling the demands of a broad and diverse coverage load

  • Ability to think creatively, work collaboratively and make decisions quickly, often with limited information

  • An ability to engage with quantitative and portfolio analysis

  • The ability to develop and present investment ideas and investment information in a clear and effective way

  • A high level of enthusiasm for discovering and responding to new investment opportunities

  • The confidence and the maturity to lead meetings internally and externally

  • Exhibit the highest level of personal and professional integrity