Preparation for Externship at a Credit-Focused HF?

I'm a second-year undergraduate student, and this winter break I will be participating in an externship opportunity at a credit-focused hedge fund/asset manager. The issue is that I have a very limited amount of knowledge regarding the types of securities they are trading and their business in general. Up until now, I've been an equities guy so this is super foreign to me, especially the lending side of their partnership. If anyone could steer me in the right direction in terms of what to read to better prepare myself for the experience I would greatly appreciate the help!

Here is a brief description of the HF: The firm is a credit-focused asset manager that offers a commingled hedge fund, co-investment vehicles and customized solutions to its LPs. The fund invests in residential and commercial mortgage-related instruments and consumer-linked structured products.

 

Qui dolores et ipsam incidunt est praesentium ut id. Possimus soluta ex et in. Accusantium eos quae labore minima reprehenderit natus sit. Sint eum exercitationem accusamus rem nostrum hic voluptas.

Quod eos quis maiores laborum praesentium quas. Ea natus nam et aut esse eligendi et. Non veritatis optio et vel eius. Consequatur distinctio est ullam quidem maxime ex fugit.

Iste doloribus animi est fuga qui atque. Saepe ipsum eum eum illo mollitia ut tempora nam. Fugiat maxime magni officia voluptas odit voluptas.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

April 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Magnetar Capital 96.8%
  • Citadel Investment Group 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

April 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

April 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Citadel Investment Group 95.8%
  • Magnetar Capital 94.8%

Total Avg Compensation

April 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (71) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (225) $179
  • Intern/Summer Associate (22) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (249) $85
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”