Hedge Fund Strategies Intern

About the role

SWIB is seeking a student intern to join its Funds Alpha Team, which will be assigned to a lead analyst but is expected to leverage the broader team. The internship is an excellent opportunity to be exposed to different investment styles across all major liquid asset classes while learning manager due diligence and portfolio construction. The internship program emphasizes involvement and engagement, with weekly manager meetings where the intern is encouraged to participate and aid in the evaluation process. The intern will work up to 40 hours per week during the summer and requires the ability to work in-person in Madison, WI, for an approximate 10-week period beginning late May/early June 2027.

Responsibilities

• Assist analysts with the due diligence process on hedge fund and beta one managers through quantitative and qualitative methods, resulting in an investment recommendation.
• Develop skills in performance evaluation – identifying historical investment skill through the team’s quantitative framework.
• Develop skills in trading analysis – through manager transparency, evaluate the investment manager's ability to manage a balanced portfolio of securities.
• Develop skills in process and risk evaluation – learn how to interview and meet with external managers to evaluate their firm, philosophy, process, portfolio construction, and risk management.
• Present findings – design and communicate due diligence findings in team meetings with analysts and portfolio managers.
• Gain exposure to legal, data, and operational negotiations to align managers with SWIB’s goals.
• Become well-versed with Funds Alpha’s various investment systems to build out further the sophistication of the analytics and consistency of the overall process.
• Complete ad hoc projects, including tailored manager, universe, and market-related analyses.
• Support the head of strategy with portfolio and firm-level projects.
• Complete a capstone project involving research, data collection, model creation, interpreting results, and communicating findings to SWIB’s senior management.

Requirements

• Ability to work in Madison, WI for an approximate 10-week period beginning late May/early June 2027.

Qualifications

• Undergraduate or graduate student with a Finance, Economics, or similar business major.

Skills

• Proficiency or familiarity with FactSet or eVestment.
• Proficiency in Microsoft Office Suite, especially Excel.
• Excellent written and verbal communication skills.
• Previous experience conducting asset allocation analysis or manager due diligence.