Pension Fund v. Hedge Fund for Internship

I have a choice between a 30ish billion plus gov. pension fund internship near my hometown and a smaller hedge in NYC (300-400 mill). The gov fund doesn't actually manage anything but working capital in house. They research managers and allocate money out to them. My role would be making performance reports and doing other intern type work. The hedge is multi-asset class and manages all money in house. I would have a bit more involved role (research, seeing how things happen) but the internship is much shorter than the other (ie full year v. half a summer).

Which internship would be preferred by recruiters and which do you think I should accept? I'm looking to getting into trading with a bulge bracket.