Plain answers in the firm's voice. If a question is not here, write to admissions.
No. The placement is run with a working proprietary trading firm with a quantitative and quantamental orientation. The supervisors are the firm’s analysts, researchers, and traders. Each student works one to one with one of them over the placement’s term.
Each student is paired with a single supervisor at the firm. The supervisor frames the question, sets the reading and methods, reviews the student’s work, and pushes back on it. The student does the writing and the modeling.
Foundations is a complete placement in itself. A Foundations student leaves with a written investment memo, the model behind it, written feedback from the supervisor on each section, and a referenceable body of work — the work a junior researcher would produce in their first year inside the firm. The Fellowship and the Advanced Fellowship take it further: the Fellowship adds a presentation to the firm’s investment committee; the Advanced Fellowship adds a position as an Associate Portfolio Manager at an incubator for emerging managers. Progression is by invitation, based on the work the student has done.
Tuition varies by placement and by the shape of the work. It is provided in writing with the application materials.
Students use language models the way working analysts do — for code, for editing, for working through methods. The expectation is the same as at the firm: the student understands what they have written and what the model is doing. We do not run a separate honour code; we read the work and ask the student about it.
Those programs match students to mentors drawn from a wide university pool. Praeclaria is a placement: a single relationship with a working researcher or trader at one firm; the supervisor is not a graduate student or a freelance mentor; the work is shaped by the conventions of an active firm rather than by a generic research syllabus.
Enrolment is with Praeclaria Education. The working relationship with the firm — the supervision, and the research environment the placement runs in — is arranged through Praeclaria under its arrangement with the firm. Students work on public and synthetic data only; they do not touch the firm’s capital, its positions, or its live systems. The specific terms are set out in writing as part of admission and vary by placement.
A completing student leaves with a letter of reference from the supervising researcher, on the firm’s letterhead, recording the role, the dates, and the work, where earned. An Advanced Fellowship student receives a reference from each of the two firms they worked with — the trading firm and the incubator. A student who keeps their position at the incubator holds it as an Associate Portfolio Manager on a renewing basis, confirmable for as long as it runs.