Small Hedge Fund Summer Internship
Hi, I am currently a second year student at a Canadian semi-target. I have recently interviewed and landed an internship with a small hedge fund (3 people working at fund with ~500m AUM). From our conversation, the role sounds like a lot of the work will be quite administrative and I am worried there will be no actual experience over the summer. It is quite unstructured so I am hoping I get exposure to actual operation of the fund, but from our conversation it sounded like they just needed help with administrative tasks. I am wondering if I should take this role or I should search for something else.
500M CAD (or USD) is not that small for a small fund like that.
But back to the question, this is actually fairly typical for internships at HFs because even when HFs hire full time, they're hiring an investment. It takes time for an analyst to get good and provide value. The way you can derive value out of this internship is to do the tasks they ask of you and being proactive. What does proactivity look like? Well, it's a small team so I imagine there are things under their nose that they're not getting a chance to look at. You could look at that for them and give your opinion. It's very unlikely they're just gonna take whatever you say at face value but you'll actually be doing some front office work. If they don't have any slack like that then just ask if every so often you can pitch a stock (or whatever they trade) anyway and they rate you on it. At least that way you can write that you pitched stocks to the PM on your resume.
Ok this makes sense, I was hoping this would be the case and I assumed it would be but I have never worked in a hedge fund before (obviously) and I was just unsure. Thank you so much for the input.
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