Student Yi Ke Cao at Raffles Girls School in Singapore, on March 3.
Photographer: Wei Leng Tay/BloombergHedge Funds Are Training 16-Year-Old Interns in Singapore
- High school student won an internship at Modular Asset
- Singapore is ramping up money management training for locals
In the dog-eat-dog world of hedge funds, giving an internship to a 16-year-old is almost unheard of. But when local talent is hard to find, teaching a minor how to generate alpha can be a worthwhile investment.
And so last summer, high schooler Yi Ke Cao spent two weeks at Modular Asset Management, a near $1 billion Singaporean hedge fund spun out of Millennium Management LLC. She crunched data in spreadsheets, chatted with veterans and watched nerve-wracking meetings where money managers defended their investment ideas from peers.