Is it over if I messed up technical question?

Had an interview for a credit fund, the very first question they asked me in the interview was a technical question on credit instruments.

I openly said:


“I currently do not know the answer, given I come from an ECM background I haven’t had exposure to the credit side before so unfortunately am not familiar with those terms to a level I can answer the question but I am a fast learner and confident I can pick up anything on the job. Happy to also read anything online if any resources you recommend”

The interviewer said “ah this is a very technical role, 80% of the role is dealing with really complex debt instruments so I assumed you would have known everything already to have been invited for an interview, but that’s ok thanks for telling me why don’t I hand over to you and you can ask me questions about the role and we go from there”

Is this a rejection? Should i send a follow up email? How long to typically hear back after an interview with a fund?

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