Case study: Graduate trainee at hedge fund

My working day begins at 7.45, when I arrive in the office and check the news and the emails I've received from the sales people and equity research analysts in investment banks.

I work in the equity team of the fund, which means that we invest in shares of companies. It's therefore important that I stay up to date with everything that's happening in the equity markets - company strategy and results, profit warnings, restructurings, for example.

Having digested the day's information, I start work on valuations, financial analysis and investment appraisals.

Usually we spend a minimum of two to three days making an initial assessment on a company, before moving on to a detailed financial and strategic due diligence process. Once or twice a week, I meet research analysts or managers of companies and occasionally attend industry conferences. My working day usually ends around 6.30pm.

As a small organization, SISU doesn't have a standard graduate training scheme. Instead, I work alongside a senior analyst who is my mentor; most training takes place on the job.

So far, I've learned how to look at a company: its valuation, debt structure, shareholding...After a couple of years I will begin formal study for the IMC (or equivalent) exam, which will involve outside tuition.

Before I came to SISU, I thought of going into banking. I spent one summer as an intern in an investment bank. But I decided to join a hedge fund because I thought it would give me more exposure.

I came to SISU through an advert on the college intranet site. After I responded to the advert, I came to London for four or five interviews.

They asked some technical questions, and why I wanted to work in a hedge fund. But they also wanted to see whether I would fit in a small company. The process was very interactive: I asked nearly as many questions as the interviewers.

The fund is a small one, with only 16 employees of which four are equities analysts. This means that the analyses I draw are important: investment decisions are based on them and I get to see the outcome. I have more exposure.

Working for a hedge fund is also more interesting than working for a standard fund manager. You have a more exciting and complex range of financial products and strategies available.

I think the people best suited to life in a hedge fund are interested both in financial markets and in corporate finance. You need to have a strong feel for what is happening in the market, as well as the ability to read and understand company financials and strategy.