I'm a sophomore at a target and received an offer to work for a ~20-25 person mutual fund shop in LA that runs about 2bn. They are only long equity, small cap. can any speak to their experience at a similar place in terms of what they did, their experience, and if they did any financial modeling, etc.?
My ultimate goal is to do BB IBD next summer. Thanks in advance
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Why you would want to do IBD over working on the buy side is beyond me... but to each their own.
Although I did not intern at a place like yours sophomore year, I don't know how much they could possibly expect you to do. I'd imagine that they'd have you call up folks for their due diligence, do research projects for them (like if they were looking at AAPL they might ask you for historical size of markets or give an overview of chinese connectivity reqs vs. other parts of world), or summarize what happened on a qtrly call. There would probably be some less finance related work too... but that's interning. Overall, I'd imagine that you'd learn a lot and that it will be highly beneficial for finding something junior year so congrats!
Bump, thanks for the help! Anyone else have any clue about equity mutual funds?
honestly i dont think you need financial modeling experience at such an internship to get a BB IB internship. Heck, in an IB internship they won't even expect you to model well. Sounds like a good opportunity. Variable experience. Honestly, they will teach you alot if 1. theyre nice 2. they think you could possibly work there full time in the future. Otherwise, your experience will be a luck of the draw type thing in my opinion.
I would definitely take the offer. It will look good for next summer.
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