Sophomore internship @HF with two summers of IBD experience

Actively looking for a summer internship at a hedge fund. I've been grateful enough to already have two upper MM IBD summer internships and before setting myself into a career in IBD, I wish to have some buy-side experience. Any recommendations on which funds already have a sophomore internship program or funds that I should heavily pursue? All advice would be greatly appreciated!

 
Best Response

I did one sophomore year, and I'll give you my tips (but not specific fund names), but its not a one size fits all process. First of all, its unlikely that you'll find a fund with an actual program for sophomores (at least one that offers research experience).

Tips: Obviously, your best bet it alumni network and family/friends. Honestly, it'll be tough with or without this, but definitely possible.

Build a list of small, but not brand new, funds. (One's that could benefit from someone just doing random clerical stuff). They're not impossible to find. One possible strategy scour Insidermonkey for names. Join a group that the person is in. Message for free.

First reach out to as many people as possible and ask to learn more about hedge funds, keep it extremely short, and be very mindful of their time.

Then reach back out LATER about an internship (shows interest, not just asking for something off the bat).

Offer to work unpaid if possible (you will be a burden, the value of a good experience will far outweigh costs).

A while after you've gotten a brief informational call, email again with a well written message describing your passion for investing, why the funds strategy is appealing, that you are willing to do menial work, can learn by osmosis, understand they are busy/won't take up time. Not too long. Mention banking experience, but acknowledge your lack of knowledge.

Rinse and repeat

Other tips:

Read their 13F and learn about one of their holdings. Ask to learn more about it, or say why it drew you to the fund

If you just do an email for internship immediately, and they say no, ask if you can still chat with someone to get some career guidance and learn about investing. Shows interest, builds contacts.

Have a personal portfolio, be able to talk in depth about at least one stock.

On the job, do everything asked, show interest in a company they're looking at, do some kind of value added research, email it to them.

Look for value oriented funds, unless you're already comfortable with coding or macro stuff.

Be wary of very, very small funds (Citadel.

hope this helps and good luck

 
Anchor:

Build a list of small, but not brand new, funds. (One's that could benefit from someone just doing random clerical stuff). They're not impossible to find. One possible strategy scour Insidermonkey for names. Join a group that the person is in. Message for free.

I should clarify this as I've gotten some questions in PMs. What I meant was that, if you find a name, you go BACK to Linkedin and join a group that they're in. If you're in a group with someone, you can go to that group page and click the Members list. Then it will allow you message people for free.

Hope this helps.

 

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