Industry Chat: Investment Management September 2016

Jessica Katz Jamie Hendel Senior Associate Director Recruiting Relationship Manager MBA Career Management MBA Career Management

Agenda • Working with MBACM

• IM and HF Industry ─ Trends

─ Introductory Overview

─ Company Relationships

─ Functions, Roles and Internships

─ Career Pathways

─ Is IM industry for you?

• Hiring Data ─ Recruiting and Summer Outreach

─ Offers, Compensation and Sponsorship

─ Career Switching

• IM at Wharton ─ Recruiting Strategy and Timeline

─ Wharton & MBACM Resources – Clubs, Treks, Conferences

─ Next Steps

• Q & A

MBA Career Management

Ryan Anderson, WG17 Undergraduate Institution: Loyola University of Chicago Pre-Wharton: United States Navy

• Career Switcher • Industry Diligence • Modeling and Pitch Prep • MBACM Partnership • IM Club leadership • Diverse IM interest

MBA Career Management

Case Example: How Can We Help?

MBA Career Management IM Team

Career Advice

• Self-assessment & decision making

• Networking

• Industry Insight

• Resumes, Cover Letter & Interview Prep

Corporate Relationships

• Develop employer outreach strategy with RRM

Programming

• Develop programs for students interested in IM

JESSICA KATZ SENIOR ASSOCIATE DIRECTOR

Corporate Relationships

• Strategize best recruiting approach for variety of employers

• Co-manage employer relationships with Career Advisor

• Manage recruiting events

Student Support

• Assist students with logistics of on-campus interview process, job board postings, etc.

JAMIE HENDEL RECRUITING RELATIONSHIP MANAGER

Collaborate with professional clubs including, IM and WRDI clubs

MBA Career Management

Industry Overview

IM/HF Internship Recruiting – Fast Facts

6

12% YOY increase in IM internships posted on CareerPath

100+ Internship offers reported so far in the IM/HF space 9

interviews in one day by an IM student during FRP (the most of any industry)

33 “Fireside Chats” hosted by 2nd Year students prior to FRP.

of the companies who participated in FRP were from the IM/HF space

29 IM/HF Employer Info Sessions held on campus – up from 24 in 2014-15.

44 funds visited on treks in 7 cities across 3 countries.

27%

10% of the Class of 2017 accepted offers in the IM/HF space

MBA Career Management

7

• Hedge Funds

• Mutual Funds

Institutional Asset

Managers

• Fund of Funds

• Family Office

• Insurance Companies

• Pensions

• Endowments

• Public company Treasury Departments

Asset Allocation

Advisory Client

Services

Wharton MBA Career Management

Investment Management Subsectors

• Private Wealth Management

• Fund Consultants

• Investment Banks

Key Company Relationships

MBA Career Management

Funds Do Differ

Fund

• Investing Style • Asset Type • Specialization • Range of Products • Assets Under Management (AUM) • Clientele

Culture / Development

• Work-life balance • Autonomous vs. collaborative • Exposure to leadership/mentorship • Organizational structure • Approach to career development

MBA Career Management

Attribute Potential Differences

Roles in Investment Management

Buy-side Analyst

Sell-side Analyst

Private Wealth Management

Associate

Analyzes financial information as well as relevant company and industry information in order to provide recommendations to fund managers

Evaluates companies for future earnings, growth and other investment criteria and place recommendations on stocks or other securities which are made available to the brokerage firm’s clients

Works closely with high net worth clients to create an overall financial strategy that encompasses investments, estate planning, taxes, real estate holdings

Fund of Fund Analyst

Analyzes hedge fund managers and strategies, identify issues and trends within industry. Present recommendations to investment committee

MBA Career Management

Roles in Investment Management (continued)

Investor Relations

Strategy

Investment Consultant

Leadership Development

Programs

Analyze, create and communicate information about fund to financial community and investors. Typically work directly with CIO/CFO

Lead and support the development and advancement of the key strategic initiatives for different business lines. Work closely with business leadership

Assist clients with investment objectives, asset allocation structures, investment manager selection and evaluation and performance monitoring

High profile, fast track MBA programs designed to develop future leaders of company

MBA Career Management

Sample IM Internships

MBA Career Management

MBA Intern, Business Development and Operations Worked with CFO and COO to assess use of data/technology tools and quantitative analysis in current investment process. Overhauled sell-side broker process and interactions tracking

MBA Summer Equity Analyst Analyzed the Asian security services industry. Performed primary research and visited management teams in Korea and Japan. Presented industry findings and investment recommendations to Capital Group investors in Asia, the U.S. and Europe

Investment Analyst Evaluated investment opportunities in both rates and credit globally and presented recommendations to founder. Created model that successfully predicted Brexit before 5% of results had been published; story made BBG news.

Blue Ridge Capital

Discovery Capital

Young Alumni Roles in Investment Management

Mutual Funds

MBA Career Management

Hedge Funds

- Kathryn Hagy, Fixed Income Analyst (London)

- Mandela Toyo, High Yield Analyst

- Alejandro Luciano, Fixed Income Analyst - Stephen Campfield, Equity Analyst

- Paul Cho, Equity Investment Analyst

- Adam Pieczonka, Analyst

- Aidan Ryan, Analyst

- Zach Dauber, Analyst

- Sara Carter, Investment Analyst

Young Alumni Roles in Investment Management

Sell-Side Research

Endowments & Foundations

Private Wealth

MBA Career Management

- Bebe Zhao, Sr. Research Associate - Dan Melum, Sr. Research Associate

- Kwaku Abrokawah, High Yield Credit Research Associate

- Brandon Hoffman, Associate

- Kate Powell, Associate

- Karen Eifler, Director

- Lauren Castillo, Private Banker

- George Dutile, Private Wealth Advisor Summer Associate

- Wen Tang, Relationship Manager

Career Pathways BUY SIDE ANALYST ANALYST PM SELL SIDE BUY SIDE

Josh Lynn WG12

Caspian Capital 2012 - present

Mahmoud Sharaf, WG07

Fidelity Investments

Portfolio Manager 2010- present

Equity Analyst 2007-present

Avery Sheffield WG08

Brandywine Global

Sr. Equity Analyst 2011-present

AB Bernstein (formerly Sanford Bernstein)

Sr. Research Associate 2008-2011

MBA Career Management

Is IM for YOU?

• Varies by fund type and role

• Quantitative / Analytic Skills

• Modeling / Valuation • Company/Sector

analysis • Prior investing

experience – professionally and personally

• Sector / Geographic exposure

• Financial acumen • Current market

intelligence • 2+2 background

common

TECHNICAL SKILLS AND EXPERIENCE

• Demonstrated passion for investing / markets

• Communication skills • Interpersonal skills • Persuasion • High conviction • Intellectual Curiosity • Creative thinking • Consistency and

attention to detail • Humble; okay with

being wrong • High risk profile to go

after offer, and to make bets

• Self-starter

SOFT SKILLS

• Varies by fund type and size

• Collaborative vs. autonomous

• Structured vs. entrepreneurial

• Market driven • Work life can be great,

although summers are tough

CULTURE AND LIFE

MBA Career Management

Hiring Data

• Established employer relationships • Annual, steady demand • Extend multiple offers/yield multiple

students • Understand MBA recruiting value

prop

MATURE

• Developing employer relationships • Inconsistent demand year-to-year • Just-in-time hiring • Less clear on MBA recruiting value

prop

ENTERPRISE

Consulting, Banking, Sales & Trading, CPG Private Equity, Venture Capital, Media, Retail Social Impact, Start-Ups

Healthcare, Technology, Energy, Hedge Funds, Real Estate

Recruiting Strategy/Timing

Wharton Strategy

Student Strategy

• Employer Info Sessions, Employer Networking Night, Sponsorships, On Campus Recruiting

• Heavy Fall/Winter Recruiting

• Postings, resume book, networking • Throughout year; late in year/summer offers

Wharton Strategy

• Differentiate vs. other schools • Build market share • Find new ways for company engagement

• Develop compelling Wharton value prop • Expand/maintain vibrant Wharton network • Manage outreach with clubs/partners

• Prepare for EIS, Interviews, how to decide between firms, etc

• Networking-intensive • Alumni-intensive

Student Strategy

MBA Career Management

Mature & Enterprise Recruiting

• Established employer relationships • Annual, steady demand • Extend multiple offers/yield multiple

students • Understand MBA recruiting value

prop

MATURE

• Developing employer relationships • Inconsistent demand year-to-year • Just-in-time hiring • Less clear on MBA recruiting value

prop

ENTERPRISE

MBA Career Management

Mature & Enterprise Recruiting in IM

Two Strategies; One Search

Mature

• Employer Information Sessions

• Networking Expo • Coffee Chats • On-Campus Interviews

Enterprise

• Networking Connections • Job Postings • Wharton Community/Alumni • Informational Meetings • Treks, NYC and SF Expos • Digital Brand

Conduct a well-prioritized and balanced search to ensure recruiting success

MBA Career Management

Representative Outreach List: Summer 2016

MBACM has over 800 company relationships with asset managers and have conducted outreach with over 80 funds this summer to reveal hiring needs / trends

Funds returning in 2016-17:

MBA Career Management

Key Take-Aways from Summer Outreach

• Wharton students continues to rank highest among investment managers

• IM feedback on student performance:

- Team Collaboration

- Passion for investing – personal and professional

- Prepared

- Competitive and confident

- Polished

- Quantitative Rigor

- Personality / Adaptability

• Applying theory into practice

MBA Career Management

Accepted Internship Offers Investment Management/Hedge Funds *Preliminary data as of 7/2/16

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

2008 2009 2010 2011 2012 2013 2014 2015 2016

% of all accepted offers

MBA Career Management

Timing of IM/HF Internship Offers: Class of 2017 *Preliminary data as of 7/6/16

0

5

10

15

20

25

30

35

MBA Career Management

Timing of IM/HF Full-Time Offers: Class of 2016 *Preliminary data as of 7/1/2016

0

1

2

3

4

5

6

7

MBA Career Management

Companies That Made Internship Offers in 2016 *Preliminary Data as of 7/1/16

Hedge Funds ADM Capital

Altrinsic Global Advisors Alyeska Investment Group

Arbiter Partners Axar Capital Management

Balyasny Asset Management Blue Ridge Capital

Calixto Global Investors Carlson Capital

Caro-Kann Capital Cartica Capital

Caspian Capital China Asset Management

Circle Road Citadel - Global Equities

Citadel – Surveyor Davidson Kempner

Discovery Capital Management Elliott Advisors

Elliott Management Corporation Knighthead Capital Management

Latimer Light Capital Limiar Capital Management

Mile 26 Capital Newbrook Capital Nishkama Capital

Owl Creek Asset Management QVT Financial LP

Susquehanna International Group Suvretta Capital Management

Tourbillon Capital Partners Viking Global Investors

Investment Management AB Bernstein

Akre Capital Management American Century Investments

BlackRock, Inc. Brandes Investment Partners

Brookfield Investment Management Eaton Vance

Fidelity International Fidelity Investments

Fidelity Worldwide Services Fir Tree Partners

Franklin Templeton Investments Fred Alger Management

Fuller & Thaler Asset Management Dodge & Cox

INVESCO KAUST Investment Management

MetLife Investments

MFS Investment Management Parnassus Investments

PIMCO Robeco Group

T. Rowe Price. Group TCW

The Capital Group Thornburg Investment Management WEDGE Capital Management L.L.P.

Wellington Management Company, LLP

MBA Career Management

• Distressed Credit & Special Situations

• Equity Research

• External Portfolio Management/Co-Investments

• Special Situations Credit

• TPG Public Equity Partners

• Trading

• Investment Management • Private Wealth Management

• Equity Research (JPM Asia Pacific)

• Equity Research • Sales & Trading • Capital Markets

IM Internship Offers at Banks & PE Shops in 2016

MBA Career Management

IM Companies That Sponsored Students in 2016 *Preliminary Data as of 7/1/16

MBA Career Management

IM Companies – Full Time

Capital Group PIMCO

AllianceBernstein (Bernsein Value Equities)

Brandywine Global Yulan Capital Management

IM Companies – Internship AB Bernstein Dodge & Cox

KAUST

Brandes Investment Partners Wellington Management

MetLife Investments MFS Investment Management

Fidelity Investments PIMCO

Capital Group

Hedge Funds – Full Time QVT Financial PAAMCO Citadel – Global Equities

Hedge Funds – Internship Balyasny Asset Management Calixto Global Cartica Capital

Circle Road

Citadel - Global Equities Citadel - Surveyor Davidson Kempner

Discovery Capital Management

Latimer Light Capital, L.P. Newbrook Capital

Tourbillon Capital Partners Viking Global Investors LP

Source of IM Internship Offers: Class of 2017 *Preliminary data as of 7/2/16

68%

13%

2%

13%

2% 2%

Wharton Job - On Campus Recruiting

Wharton Job - Job Posting

Other

Personal Networking Connections

Wharton Alumni Contact

Return to Previous Employer

MBA Career Management

Source of HF Internship Offers: Class of 2017 *Preliminary data as of 7/2/16

57%

9%

4%

14%

5%

11%

Wharton Job - On Campus Recruiting

Wharton Job - Job Posting

Other

Personal Networking Connections

Trek Networking

Wharton Alumni Connection

MBA Career Management

Private Equity 28%

Investment Management 21%

Diversified Financial Services

15%

Investment Banking/ Brokerage

12%

Tech 9%

Venture Capital 6%

Social Impact 6%

Hedge Funds / Other Investments

3%

Pre-MBA Experience: Investment Management - Intern

MBA Career Management

Pre-MBA Experience: Hedge Funds/Other Investments - Intern

Private Equity 41%

Investment Banking/ Brokerage

16%

Hedge Funds / Other Investments

16%

Social Impact 12%

IM 12%

Real Estate 3%

MBA Career Management

Career Switching

94% 94%

85%

63%

46%

71%

48%

65% 60%

86%

63%

80% 87%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

% Intern Accepted Offers – Reported “Industry Change”

MBA Career Management

Internship Salary Breakdown: Class of 2017 *Preliminary Data as of 7/1/16

Investment Management Hedge Funds

Number Accepted 32 33 Number Accepted (with salary data) 32 32

% of Accepted 4.86% 5.02% Monthly Salary Range $3,520-$12,500 $2,000-$20,800

25% Monthly Salary $8,800 $8,000

Median Monthly Salary $9,600 $10,416

75% Monthly Salary $10,417 $11,266

Number with Sign-On Bonus 2 0

Median Sign-On Bonus $373 NA

MBA Career Management

FT Salary Breakdown: Class of 2016 *Preliminary Data as of 8/15/16

Investment Management Hedge Funds

Number Accepted 24 20 Number Accepted (with salary data) 21 20

% of Accepted 4.08% 3.4% Annual Salary Range $120,000-$250,000 $100,000-175,000

25% Annual Salary $125,000 $125,000

Median Annual Salary $135,000 $145,000

75% Annual Salary $150,000 $150,000

Number with Sign-On Bonus 17 12

Median Sign-On Bonus $40,000 $25,000

MBA Career Management

Wharton MBA Alumni Survey 2014 - Total Compensation Median (25th percentile/75th percentile)

2010-2014 2005-2009

Investment Management n=205

$203,500 ($176,250/$269,000)

VP 32

$360,000 ($250,000/$620,000)

VP 41

Hedge fund n=69

$226,250 ($167,500/$261,250)

IC 14

$500,000 ($270,000/$775,000)

VP/D 23

MBA Career Management

IM Job Search at Wharton

August September October November December January

Work on your Resume

MBACM

Resume Book 9/18

(feedback)

EISs begin Oct. 24

Treks

EISs continue

Treks

Networking Expo: Nov. 7

FRP apps. due

IM Conference

IPS

Treks

IM Fireside Chats

FRP: Jan.

19-27

Treks

February March April May June July-Sept.

WRDI Conf.

Interviews

Receive

Offer

Interviews

Receive Offer

Interviews

Receive Offer

Interviews/

offers

Report your offers

Start

Internship

Intern

Invest, Pitch and Network

Invest, Pitch and Network MBA Career Management

IM/HF Recruiting: Timing of Key Events

Wharton IM and WRDI Clubs

IM Club: • NY Credit • NY Equity • Boston • Baltimore • West Coast • London • Hong Kong WRDI: • NY Distressed • NY Restructuring Advisory • NY Turnaround Consulting • West Coast Distressed • London Distressed • Hong Kong Distressed

CAREER TREKS

IM Club: • Stock Pitch Basics • Stock Pitch Critiques • Career Switcher Session • Lunch & Learn – Topical

Investment Issues • Career and Alumni Panels • Alumni pitch competition • Fireside Chats • Preparing for your Summer

Internship WRDI: • Small Group Dinners • Credit Pitch 101 • How to do Distressed Pitch • Case Studies

WORKSHOPS

IM Club: • IM Conference • Regional stock pitch

competitions WRDI: • Restructuring & Distressed

Investing Conference • Restructuring case

competition • Credit pitch competition • High Income pitch

competition

CONFERENCE

Fast Facts: • WRDI kickoff / happy hour Sept 12; +50 current members • IM club kickoff on Sept 13; +100 current members • Lead or Participate in a Trek • Pitch to Wharton Investment Management Fund

MBA Career Management

Tips for Recruiting in IM • All Job Seekers:

- Network within IM - Utilize the MBACM advising, tools & workshops - Determine where you fit - Take initiative and dive in - Follow up and be persistent

• Career Switchers: - Take the time up front to self assess and be confident IM is really right for you

before putting in all the work - Signal interest, passion and competence in space via CFA, pitch competitions,

WIMF, leadership roles, personal investing, modeling workshops, reading investing books etc.

- Go to IM Club info session for career switchers

• International Students/Global Job Seekers: - Local experience/expertise is highly valued so focus on roles/regions where

you can leverage that expertise.

MBA Career Management

Recommended Readings

• Value Walk - covers breaking financial news with an emphasis on value investing, hedge funds, large asset managers, Tech news, and Business news.

• Trusted Insight – the global network of institutional investors to conduct due diligence, explore career opportunities, find investor matches, and find talent.

• Hedge Fund Observer - a ‘talent dashboard’ for the hedge fund community including Who’s Hiring, Recent Hires, Company Directories, Hedge Fund Launches, and News & Insights. Use discount code WHARTONHFO for 20% discount!

• Adam Zoia with Aaron Finkel, Getting a Job in Hedge Funds, A Glocap Guide • Gillian D. Elcock, How to get an Equity Research Analyst Job • Ben Graham, The Intelligent Investor • Joel Greenblatt, You Can be a Stock Market Genius • Keith Moore, Risk Arbitrage: An Investors Guide • Seth Klarman, Margin of Safety • More on IM Research page!

MBA Career Management

MBACM Site Research Tools Research by Industry Investment Management

IM Industry Page

MBA Career Management

Next Steps and Resources • Online

─ Set up your CP profile

─ Begin your company list

─ Create CP job saved searches

─ Use offer directory and talk to 2Ys

─ Use SPIKE + LinkedIn to identify, but not yet reach out to Alumni

─ Use the IM Industry Page to start your research

• Workshops

─ Resume Book Training

─ Developing Your Pitch

─ IM Club events and stock pitch prep including kickoff on Sept. 13th

─ WRDI Club events including kickoff on Sept. 12th

• One on one advising

─ Set up an appointment with Jessica via MBACM website

MBA Career Management

Contact Information

Wharton MBA Career Management 50 McNeil Building, 3718 Locust Walk, 215-898-4383

Website: http://mbacareers.wharton.upenn.edu/student General Email Inquires: mbacareers@wharton.upenn.edu

MBACM Contact Info:

Jessica Katz, Career Advisor jeskatz@wharton.upenn.edu Jamie Hendel, Recruiting Relationship Manager jhendel@wharton.upenn.edu

Club Leadership Contact Info:

IM: John Chun chunjohn@wharton.upenn.edu IM: Lisa Yang yangeli@wharton.upenn.edu

WRDI: Mark Saleme msaleme@wharton.upenn.edu WRDI: Fei Sun fsun@wharton.upenn.edu

MBA Career Management

Questions?

Advice from the successful 2nd years

• PREPARE, and PREPARE EARLY! There is SO much that can be done before process kicks off

• Know thyself, reach out early to companies of interest and narrow down targets over time. Remain flexible but focused on interests. Think strategically – select opportunities that make sense both short and long term

• Start working on pitches early and practice

• Network inside and outside Wharton OCR

• Have focused story and be able to clearly articulate how it fits in with firm X

• Take a targeted approach so you don’t overextend yourself

• Cast a wide net – go on all office visits – talk to as many alumni as possible

• Be persistent and prepare multiple stock/credit pitches

MBA Career Management

Follow MBA Career Management:

@WhartonMBACM

WhartonMBACM

Career Switching

82% 79%

67%

20%

40%

54% 53%

18%

56% 57%

67%

83% 79%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

% FT Accepted Offers – Reported “Industry Change”

MBA Career Management

Investment Banking/ Brokerage

27%

Private Equity 23% Hedge Funds / Other

Investments 14%

Diversified Financial Services

9%

Retail 9%

Investment Management 9%

Consulting 4%

Other 5%

Pre-MBA Experience: Investment Management - FT

Private Equity 47%

Investment Banking/ Brokerage

16%

Consulting 11%

Hedge Funds / Other Investments

11%

Social Impact 5%

IM 5%

CPG 5%

Pre-MBA Experience: Hedge Funds/Other Investments - FT

Timing of Internship Offers: Class of 2017

0

50

100

150

200

250

300

350

Timing of Full-Time Offers: Class of 2016

0

50

100

150

200

250

300

350

400

MBACM and IM/WRDI Clubs IM Club MBA Career Management

Employer Relationships • Strong, deep industry relationships and

firm knowledge • Working to bring opportunities to students

and match employers with student population

Skill Development • Education workshops developed to

increase job search skills (resumes, cover letters, interviews, networking, research and online resources, etc.)

• Resume review process

Advising • Partner with you on self assessment,

setting priorities, job search planning, career education and matching, coaching, etc.

Skill Development • Education events via alumni speakers

(“A Day in the Life”, case studies, stock pitches, due diligence)

Career related • Regional treks to meet employers • Alumni mentoring • Mock interviews, club resume review

Other resources • Networking events • Speaker series • Student mentoring, coffee chats • International opportunities

MBA Career Management

Industry change from 1st to 2nd place of employment 2nd Place of Employment

1st place of Employment

Consulting and professional services n=463

Consumer goods/Retail n=282

Finance n=822

Government, Education, and Nonprofit n=176

Health, Biomedical, and Pharmaceuticals n=188

Manufacturing, Energy, and Construction n=233

Technology, Media and Telecoms n=399

Other n=370

Consulting and professional services n=752

221 (29%)

68 (9%)

130 (17%)

43 (6%)

54 (7%)

61 (8%)

111 (15%)

64 (9%)

Consumer goods/Retail n=252

36 (14%)

127 (50%)

17 (7%)

8 (3%)

6 (2%)

13 (5%)

25 (10%)

20 (8%)

Finance n=835

67 (8%)

26 (3%)

570 (68%)

21 (3%)

19 (2%)

31 (4%)

36 (4%)

65 (8%)

Government, Education, and Nonprofit n=95

15 (16%)

0 (0%)

11 (12%)

54 (57%)

1 (1%)

3 (3%)

5 (5%)

6 (6%)

Health, Biomedical, and Pharmaceuticals n=152

24 (16%)

2 (1%)

6 (4%)

9 (6%)

85 (56%)

7 (5%)

10 (7%)

9 (6%)

Manufacturing, Energy, and Construction n=236

28 (12%)

18 (8%)

35 (15%)

12 (5%)

9 (4%)

89 (38%)

21 (9%)

24 (10%)

Technology, Media and Telecoms n=306

40 (13%)

23 (8%)

17 (6%)

13 (4%)

5 (2%)

10 (3%)

178 (58%)

20 (7%)

Other n=305

32 (11%)

18 (6%)

36 (12%)

16 (5%)

9 (3%)

19 (6%)

13 (4%)

162 (53%)

Wharton MBA Alumni Survey 2014 – Industry Changes

MBA Career Management

Source of Internship Offers: Class of 2017 *Preliminary data as of 7/2/16

55%

16%

5%

17%

4% 1% 1% 1%

Wharton Job - On Campus Recruiting

Wharton Job - Job Posting

Other

Personal Networking Connections

Wharton Alumni Contact

Career Fair

Trek Networking

MBA Career Management Contact

MBA Career Management

IM Around the Globe

MBA Career Management

Baltimore

Boston

Hong Kong

London

New York Credit

New York Equity

San Francisco

Southern California

57

• Hedge Funds

• Mutual Funds

Institutional Asset

Managers

Wharton MBA Career Management

Investment Management Subsectors

Hedge Funds

Mutual Funds

Privately managed investment vehicle that has the ability to invest in a wide variety of securities using advanced investment strategies (ex. selling short)

Investments made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments. (ex. long only)