Hey everyone,
Really need your help here -- I have an analyst interview coming up for a Hedge Fund Research Firm, called Aksia. Please find below a job description:
Analysts assist the senior investment partners with research related to hedge fund investments. Over the course of a 3-year program, Analysts will have the opportunity to gain a deep understanding of the various hedge fund strategies practiced by managers globally, and will develop both the subjective and objective skills necessary to assess the attractiveness of hedge funds from an investor’s point of view. A significant portion of the role will entail writing investment reports that detail the various qualitative and quantitative aspects of individual hedge fund managers’ strategies, in addition to more general research reports. Analysts are also expected to attend industry conferences, participate in due diligence meetings with senior investment professionals at hedge funds, and liaise with other third parties such as capital introduction groups at various investment banks. Over time, Analysts will be expected to forge their own relationships and participate more actively in sourcing investment ideas and performing due diligence. There will be relatively few mid-level employees (i.e. Vice Presidents), so Analysts will be working directly with hedge fund managers, clients, and the partners of the firm.
Qualification:
BA or BS
-excellent writing skills
-demonstrated interest in financial markets
-high academic achievement
-analytical
-good people skills
-independent and critical thinking
What type of questions (both qualitative and quantitative) do you think I should expect? I'm really confused here -- not sure what they will ask me. Can anyone please comment on what I would need to know for a Hedge Fund Advisory/Research firm? Thank you in advance!
Just in short: - risk measures (VAR, etc) - return measure (Sharpe-ratio, etc) - Hedge fund strategies (nothing to fancy, just a general overview with examples) - Due Diligence (also operational) stuff: what would you look at when investing into a fund...
I am working at a HF, NOT in HFoF industry, so this list just reflects what I would ask a applicant for a junior position. - Good luck
Can you please give an example of what a great answer would be for, "what would you look at when investing into a fund"? Thanks.
Thanks, anything else?
hey man, how did your interview go?! What kinda of questions did they ask?! I have a friend who's applying for a similar position at a competitor. Any insight on your experience?
Just in general: - correlation to different asset classes/investment strategies (concerning asset allocation of HFoF/clients) - Leverage, diversification (amount of positions) and max size of largest positions - max draw down in history - to what extend are positions hedged - what prime brokers (operational) - reputation / track record of managers Bad numbers are not necessarily bad, ie use comps; eg -2% in a year is not a disaster if the market tanked and comps are down 10%. Google, some of the larger HFoF explain a bit about their investment strategy.
Thanks!
PM me.
Dude.. I can't PM you. I can haz help too?
EtherBinge, I can't yet PM you, but would you be able to offer some insights on an interview with Aksia? Same type of role as the OP described.
Etherbinge, Can you pm me too??
BUmpity
.
What would you look for in investing in a fund?
Divide this into quantitative and qualitative.
Quantitatively, you're looking at risk metrics, return metrics, and correlation to standard indices.
Qualitatively, you're looking at track record, employee bios, general presentation ability of manager presenting, AUM, how much money they have in the fund, their geographical location, their operating capacity, etc.
Hope this helps.
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