Seeing a few HFs starting Implementation internships

So I just saw a Portfolio Implementation summer analyst intern role at AQR with the following description -

This role offers the opportunity to work with senior investment professionals within the firm and exposes the candidate to all aspects of portfolio management, in particular
A successful Portfolio Implementation Analyst will become intimately familiar with global financial markets, financial economics, asset management, quantitative investing and AQR’s investment philosophy.

  • Portfolio Construction: optimize portfolios based on model views, market frictions, and investment guidelines
  • Portfolio Implementation Research: research and improve portfolio construction and optimization techniques
  • Model Research: play integral role in the implementation and improvement of new and existing systematic signals
  • Analytics: manipulate and analyze large data sets to identify patterns in the performance and characteristics of AQR’s portfolios
  • Trading: measure, model and control trading costs to improve execution

What's interesting is that this role is relatively new, and another interesting fact is that Bridgewater has started a very similar internship in the implementation space, which covers things much like those listed above. I guess my questions are -


- What's the prestige of these kinds of roles? Are they seen as quant or quantamental?

  • Are these roles seen to be FO or MO? I guess the distinction seems a little blurred because these roles are facing the securities as well.

  • Do they pay well? I'm sure the base pay is solid but bonus wise. Also, could this be a good gateway to PM roles down the line?

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