The asset management industry in Singapore is currently experiencing growth that outpaces the global average, and offers a plethora of promising career opportunities for those interested in investment and asset management. Nonetheless, it is crucial to acknowledge that there are underlying economic uncertainties, despite the favourable prospects in the job market.

According to the 2023 Investment Managers’ Outlook Survey by the Investment Management Association of Singapore (IMAS), 67% of industry leaders forecasted a global recession. For newcomers, achieving success in this field may seem like a daunting task, but it should not deter you from pursuing your career goals. By acquiring the necessary expertise and knowledge, and equipping yourself with relevant foundational, critical, and technical skills, you can confidently pave the way for your career advancement.

As you embark on your journey from becoming a novice to an expert, here are four essential strategies to master investment management:

1. Diversify Your Product Knowledge

As you step into investment management, you will face a diverse range of financial products in the market, and different investment styles and strategies. To make informed investment decisions that meet your clients’ financial goals and objectives, you need a deep understanding of key asset classes and the principles of asset allocation. Alternative investments in particular have been on the rise, with Singapore’s Alternative Assets Under Management  (AUM) soaring by 30% in 2021.

As the industry continues to expand, having extensive knowledge of different alternative asset classes, such as hedge funds and private equity, and understanding their risk-reward profiles, has become an added advantage. This in-depth knowledge will enable you to construct well-diversified portfolios and customised investment solutions that meet the unique needs and objectives of your clients.

2. Harness the Power of Technology and Data

Rapid and continuous advancements in technology have altered industries across the board, and the investment management world is no exception. Key among these disruptive technologies are Artificial Intelligence (AI) and Machine Learning (ML), which when combined with Big Data, have transformed how investment professionals approach portfolio optimization, risk management, and investment research.

However, these tools are only as effective as the individuals using them. Developing a deep understanding and technical expertise in these technologies can give you a significant edge in this competitive field. With advanced analytics tools at your disposal, you can make more informed investment decisions with greater speed and accuracy, and ultimately stay ahead of the curve.

3. Cultivate Enduring Client Relationships

In an industry where the competition for client acquisition and retention is fierce, establishing long-lasting and trusting relationships with your clients is critical. This requires a client-centric approach that relies on critical thinking and key communication skills. On top of aligning to clients’ needs and providing personalised service, you need to be updated with the evolving regulatory landscape.

Staying updated on the latest changes involving licensing requirements and restrictions on business operations demonstrates your commitment to ethical and responsible investing practices.

Additionally, being able to make effective pitches to clients is a critical component of successful client relationship management. This requires not only clear communication of investment strategies but also the ability to concisely convey complex financial information.

By consistently catering to clients’ needs and effectively demonstrating the value you bring to them, you can increase client satisfaction and retention, leading to greater success in the long term.

4. Deepen your knowledge in ESG

In the same IMAS 2023 Investment Managers’ Outlook Survey, 68% of the industry leaders surveyed expect a further increase in Environmental, Social and Governance (ESG) investments. This move towards incorporating ESG considerations into investment decisions calls for an elaborate framework that includes guidelines on how to identify and evaluate ESG risks and opportunities, integrate ESG information into investment analysis, and monitor ESG investments.

It is now more imperative than ever to gain a comprehensive understanding of ESG trends and practices, ESG data and analysis, and the barriers to widespread sustainable investing. Stay informed on the latest ESG investing developments and regulations through industry publications and conferences. In doing so, you will be better positioned to weather ESG risks and meet ever-changing client needs.

With WMI’s Certificate in Applied ESG Investment Advisory, you will learn about ESG and sustainable investment techniques that go beyond foundational knowledge, covering practical content such as the different types of ESG strategies, best practices to integrate ESG investing in different asset classes and alternative investments, the governance and evaluation methodologies to assess ESG investments, as well as challenges risks associated with ESG.

Learn more about WMI’s Certificate in Applied ESG Investment Advisory

While elevating your expertise in these four areas will help you kickstart your journey to becoming an expert in investment management, there is much more that needs to be learned and acquired before you can achieve success in the field.

Wealth Management Institute’s (WMI) Advanced Diploma in Asset Management equips you with these skills and more through nine experiential learning modules taught by a faculty of experienced industry professionals. At the end of the programme, you will gain the comprehensive knowledge and skills necessary to excel in Portfolio Analyst, Investment Analyst, or Fund Management Assistant roles. Against the backdrop of a volatile economy, this structured and comprehensive training program will be vital to thrive in the investment management industry.

Speak to one of our programme managers today to learn more!