Getting to top LO seats or to top SMHF/MMHF seats out of undergrad
Hi, I am an incoming freshman at UT in their business honors program hoping to go into the public markets ideally or Investment Banking and the 2+2+M7 route for the sake of optionality, but I don’t care about having a traditional path (I’d rather not go through the IB/PE grind but seems kinda interesting).
Regarding the small number of investment associate (FO) seats at top LO funds like Fidelity, Wellington, etc. What is the typical profile of someone who gets there out of undergrad? It seemed really interesting to me as I love value investing and investing in general, would probably love to join a value SMHF or a L/S role at an MMHF also which I’ve heard can be done from a strong LO seat.
For context on my background, I have been a part of two student-led investment fund, write investment articles for fun and publish them (making $), did a family office internship last summer, going to get another different one this summer or a search fund internship, and then next summer (freshman summer) I will likely have an internship with a mutual fund manager with top decile returns and who is well-known within the field of value investors.
Navigating the path to securing top Long-Only (LO) or Small/Mid-Cap Hedge Fund (SMHF/MMHF) seats straight out of undergrad is indeed a challenging yet rewarding journey. Your interest in value investing and the public markets, coupled with a proactive approach to gaining relevant experience, sets a solid foundation. Here's a breakdown of what typically makes a candidate stand out for these coveted positions:
Academic Excellence: Being in a business honors program is a great start. Top LO funds and hedge funds often look for candidates with strong academic records from prestigious programs. Continue to excel in your studies, particularly in finance, economics, and related fields.
Relevant Experience: Your involvement in student-led investment funds and internships with a family office and a mutual fund manager are impressive. These experiences not only demonstrate your passion for investing but also provide practical skills and knowledge. Aim to diversify your experience with internships in different areas of finance, such as investment banking or private equity, if possible, to broaden your understanding of the financial markets.
Demonstrated Passion for Investing: Writing and publishing investment articles is a fantastic way to showcase your interest and expertise in investing. Continue to build your personal brand as an investor by engaging in activities that highlight your investment philosophy and analytical skills. Participating in investment competitions, maintaining an investment blog, or contributing to financial publications can further solidify your profile.
Networking and Mentorship: Building relationships with professionals in the industry is crucial. Attend finance-related events, join investment clubs, and seek mentorship from experienced investors. Networking can provide insights into the industry, advice on career development, and potentially lead to internship or job opportunities.
Technical Skills: Develop a strong foundation in financial modeling, valuation techniques, and market analysis. Proficiency in tools like Excel, Bloomberg, and programming languages (e.g., Python for quantitative analysis) can be advantageous.
Cultural Fit and Soft Skills: Top LO funds and hedge funds value candidates who not only have the technical skills but also fit well with their culture. Demonstrate your ability to work well in teams, communicate effectively, and adapt to fast-paced environments.
Given your current trajectory and interests, you're on the right path. Continue to seek out opportunities that align with your career goals, stay curious, and be proactive in your learning and networking efforts. Remember, the journey to securing a position at a top fund is competitive and requires persistence, but your passion and dedication can make you a standout candidate.
Sources: What is top-tier sourcing performance for an associate? How competitive is $200m+ sourced for UMM or MF PE/SM HFs/BSchool?, Q&A: ex-McKinsey EM and current L/S hedge fund analyst, Q&A: Joined a top Hedge Fund out of undergrad, Sup guys, where should I go to school?, L/S vs LO from a non-monetary perspective
Wow congrats
Thank you! Do you think if post that Mutual Fund Internship I maybe get an IB role for sophomore summer or another well-regarded public markets role I’ll have a shot at SMHF, MMHF, or top LO for junior summer? Would it just come down to how well I interview at that point as I’ve heard many public markets and even IB roles are much more school-agnostic?
Offers are generally given to top students from target schools, no different than anything else in finance. If you do not fit that profile, networking will be more important.
What about for roles like at Citadel or P72 that are known to be more meritocratic? UT BHP had like 3-4 people each year for the last two years that got citadel/P72 non-quant which is probably near that of top targets given sizes of classes at those firms.
Do you think an internship at a top yet small mutual fund manager ($400M but top decile returns) is good for freshman year with my goals?
Magnam sed et velit autem et omnis. Animi unde rem cumque est. Mollitia esse consectetur esse sunt est doloribus eveniet aut. In porro tenetur aut quaerat excepturi.
Voluptatum quae sunt minus. Placeat est sunt minima. Non sed et et quibusdam ipsum est. Eligendi quo voluptas sit quidem et praesentium consequatur natus.
Consequatur et natus possimus sapiente veritatis est veritatis. Qui soluta sed quo molestias inventore occaecati. Reiciendis cupiditate maxime eius nihil. Aliquid error autem eaque voluptatum. Aliquid numquam iusto illo. Et cumque eum autem eos autem vitae. Hic dolores provident ut corrupti quia placeat voluptas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Doloribus officia dolorum nesciunt aliquid. Sed tempora illum ad ullam. Quidem sunt eos sit praesentium.
Molestiae est sint deserunt magnam placeat et. Asperiores voluptas iste odio magnam quasi. Optio perspiciatis enim itaque recusandae minus cumque corrupti. Veniam modi consequatur molestiae sequi commodi id doloremque corrupti. Distinctio delectus aliquid aliquam. Beatae aspernatur eos reprehenderit ducimus consequatur.
Impedit consequatur et repudiandae et dolores est maiores. Eos inventore dignissimos suscipit. Eos cupiditate nulla magni dolorem magnam minima. Nihil sint quis corrupti rerum. In corporis aut suscipit omnis.
Itaque qui numquam quae corrupti consequatur quod consequatur. Fuga et itaque sequi cumque est vitae amet eveniet. Suscipit doloremque voluptatem eum. Eaque impedit omnis sit et.