Advanced Fellowship.
Thirty-six weeks, in two parts: a research role inside a proprietary trading firm, and a position as an Associate Portfolio Manager at an incubator for emerging managers. The strategy is built, presented, and then run — for students ready to go deeper.
The work at the firm
The Advanced Fellowship runs thirty-six weeks. In the first part, the student works one-to-one with one of the firm's most experienced researchers, developing an investment strategy at depth — researched, modelled, written, and presented to the firm's investment committee for review. The question, the pace, and the form of the work are set in conversation with the supervisor at the start.
A position at the incubator
In the second part, the student takes a position at an independent incubator for emerging portfolio managers — the kind of place where managers preparing to raise capital run their strategies and build an independent track record. The student joins as an Associate Portfolio Manager, running their own strategy as a simulated book under monthly review. The two roles run concurrently through the back half of the year.
What the student leaves with
- A developed investment strategy.
- A written proposal, presented and reviewed by the firm's committee.
- A position as an Associate Portfolio Manager at an emerging-manager incubator.
- A simulated track record under their own name.
- A reference from each firm worked with, where earned.
Who it is for
Students with a defined area of interest, the discipline to work at depth across the academic year, and prior evidence of independent intellectual work. The Advanced Fellowship is admitted in conversation; the application is the beginning of that conversation, not its conclusion.
After the year
The strongest students are invited to keep their position at the incubator after the year ends, as Associate Portfolio Managers on a renewing annual basis. It is a separate, selective appointment — multi-year, by invitation — earned by the quality of the work. A student who continues builds a year-by-year track record under their own name.
Application
The Advanced Fellowship is by application only. The application is reviewed by the researcher who would lead the work; if there is a fit, the student is invited to a longer conversation.