What are 'Assistant PM' roles like at Asset Managers?

Just started working in a risk quant type role at an AM/HF firm. From what I've seen my firm seems to have opportunities sometimes for people to transition from my area of the business to being an assistant PM, which sounds pretty interesting. Does anyone have insight into what it's actually like working in these APM type roles? Do people tend to spend a few years in these and then get promoted to PM?

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