Incoming intern at a fixed income hedge fund. Ideas on what to expect/how to prep?

Starting an internship in the investments team of a discretionary fixed income hedge fund. Can anyone with some experience in the industry explain what are the day-to-day activities I can expect to be doing? All I know is that the fund specializes in relative trades and that PMs do things pretty much in whatever way they prefer. Some are more quant, some are not at all. A bit more than half of my intern class is very math-driven, while the rest seem to be stronger in market acumen and economics. I can work with python, but I am by no means as comfortable with it as some of my other peers look like. The fund knows about my python skills and still decided to move forward with me, so I guess they expect me to add value in some other way. Does anyone have an idea how? In addition, does anyone have some material they recommend studying before starting? Many thanks!

9 Comments
 

You should enjoy your last few weeks of school. That being said, some things you may want to touch up on are: 

  • Python coding (is a useful skill beyond the internship as well) - do some side projects with pandas, sklearn, numpy, etc libraries
  • Refresh memory on common statistical methods: principal component analysis, linear regression
  • Follow what is going on in the market - listen to podcasts, watch some news shows on youtube
  • Read about some basic trades (e.g. bond vs futures basis), asset swaps
 

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