Portfolio Manager, Commodities, Global Macro

Location:Singapore

Job Function:Fixed Income & Multi Asset

Job Type:Permanent

Req ID:17363

GIC is one of the worlds largest sovereign wealth funds. With over 2000 employees across 11 locations around the world we invest in more than 40 countries globally across asset classes and businesses. Working at GIC gives you exposure to an extraordinary network of the worlds industry leaders. As a leading global long-term investor we Work at the Point of Impact for Singapores financial future and the communities we invest in worldwide.

Fixed Income & Multi Asset

Our team employs a broad range of investment strategies that span macro credit and quantitative investing including multi-asset benchmark-agnostic constrained indexed and thematic strategies.

We are seeking an experienced Commodities Portfolio Manager to join our Global Macro investment team. The successful candidate will be a cross-complex generalist responsible for generating alpha through active management of commodity exposures spanning energy metals and agriculture expressed through both broad commodity indices and individual markets. This is an investment role with P&L accountability and a discretionary risk mandate.

Key Responsibilities

• Manage a discretionary commodities portfolio across the full complex energy base and precious metals and agriculture translating macro and fundamental conviction into sized hedged exposures at both the index and single-market level.
• Trade and manage exposure to broad commodity benchmarks (e.g. Bloomberg Commodity Index S&P GSCI) and their sub-indices including roll curve and index-rebalancing dynamics alongside relative-value positioning across and within complexes.
• Develop a cross-commodity macro framework covering supply-demand balances inventories term structure inflation linkages and the interaction of commodities with rates FX and broader multi-asset portfolios.
• Identify and implement opportunities across outright spread curve and volatility trades using linear and non-linear instruments with diligent hedging capability.
• Manage risk with full accountability for position sizing hedging and drawdown management within mandate guidelines and departmental risk parameters.
• Collaborate with strategists economists and other portfolio managers to translate macro and thematic views into actionable cross-asset trade ideas.
• Contribute a commodities perspective to broader portfolio construction and relative-value discussions including inflation-hedging and diversification themes.
• Build and maintain an external network across sell-side research brokers physical market participants and industry contacts to sustain market intelligence and deal flow.
• Communicate portfolio views performance drivers and risk metrics to senior management and investment committees.

Qualifications & Experience

• 510 years experience managing or trading discretionary commodity portfolios with a demonstrated track record across multiple commodity complexes rather than a single market.
• Generalist expertise across energy metals and agriculture with the breadth to run broad-based commodity index exposure preferred over deep specialisation in a single commodity such as oil natural gas or iron ore.
• Hands-on familiarity with broad commodity indices and their construction (roll methodology weighting rebalancing) and how index-level exposure is expressed and hedged.
• Strong track record managing a discretionary commodities book with a disciplined portfolio management and risk framework.
• Sound understanding of commodity fundamentals supply-demand inventories seasonality term structure and the macro drivers linking commodities to inflation rates and FX.
• Strong market acumen and in-depth understanding of derivatives (futures swaps options) used for hedging and expressing views.
• Excellent communication skills with the ability to present to CIO-level audiences and articulate complex views with clarity and conviction.
• Fluency in English required.

Work at the Point of Impact
We need to be forward-looking to attract the right people to help us become the Leading Global Long-term Investor. Join our ambitious agile and diverse teams - be empowered to push boundaries and pursue innovative ideas share your views and be heard. Be anchored on our PRIME Values: Prudence Respect Integrity Merit and Excellence which guides us in how we make our day-to-day decisions. We strive to inspire. To make an impact.

Flexibility at GIC
At GIC our offices are vibrant hubs for ideation professional growth and interpersonal connection. At the same time we believe that flexibility allows us to do our best work and be our best selves. Thus our teams come into the office four days per week to harness the benefits of in-person collaboration but have the flexibility to choose which days they work from home and adjust this arrangement as situational needs arise.

GIC is an equal opportunity employer

GIC is an equal opportunity employer and we value diversity. We do not discriminate based on race religion colour national origin sex gender gender expression sexual orientation age marital status veteran status or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process to perform essential job functions and to receive other benefits and privileges of employment.