Equity Research Intern (Summer 2022)
Summary
Alger is looking for bright and enthusiastic interns to join our equity investment research team. We favor candidates who are passionate about investing, embrace challenges and thrive in a dynamic environment.
Company Description
Alger is an independent New York City based Asset Management firm founded in 1964. The firm manages more than $40+ billion in assets in traditional and alternative strategies through various products such as mutual funds and hedge funds. Individual and institutional investors, corporate pension plans, private foundations and government organizations rely on Alger for their U.S. and international growth stock investments. Our firm and its founder, Fred Alger, are widely recognized and credited as pioneers of growth stock investing. Our philosophy is to uncover companies experiencing high or accelerating unit growth or those undergoing a “positive dynamic change”. The investment team of over 50 professionals relies on fundamentally driven research process to develop significant investment ideas and themes.
Headquartered in New York City in a modern office space near Madison Square Park, Alger offers great benefits and encourages employees to become involved in their community. In particular, we encourage our employees to participate, to give their time and talents, not just money, to charitable events and organizations the Firm supports through our employee run charitable committee, the Alger Candlelight Giving Program. Pensions & Investments has noted “Fred Alger Management Inc. [is] one of the most charity-oriented workforces in the investment industry.” (Sept. 5, 2011). We are as proud of that recognition as we are of our investment success.
Alger’s Investment Team
Alger’s Research Team is the engine that drives the firm’s strong long-term investment returns of our portfolio strategies and success for our clients. Our investment strategies range from U.S. small cap to large cap stocks and International and Emerging Markets growth stocks, in both traditional long-only and long/short hedged equity portfolios. We are over 50 experienced professionals, led by our portfolio managers and senior sector analysts, who work together to identify and research domestic and global growth trends across all economic sectors to uncover compelling investment opportunities. We target “outside the box” ideas and our firm’s philosophy encourages creative and independent thinking. Each investment idea goes through a rigorous series of analyses by sector specialists rather than generalists. Many of our analysts have direct experience in the industries they invest in and/or advanced degrees in their fields. Compared to other buy-side firms, our teams are small – and this “boutique” culture allows analysts of all levels to contribute. Working in smaller groups, analysts have more responsibilities, rather than being just a “number-cruncher” at a larger firm. With that in mind, we focus on investing in developing talent. Many of our analysts have started their careers at Alger as a part-time winter or summer intern.
Alger interns learn the fundamentals of investing by working on various projects for senior analysts and portfolio managers within multiple industries. You will gain experience in building financial models, analyzing third party surveys and valuing companies. The research team welcomes interns to participate in industry conferences as well as meetings with companies' senior management. Every day is different and interns play a crucial role in helping the analysts and portfolio managers generate insightful ideas. This direct exposure to top level management is rare in the investment community and interns thrive on the ability to work with highly experienced investors. We value our interns' fresh perspective on the world and markets and often utilize their youthful insights in our research. Additionally, each intern will complete a final project and present the investment idea to the company's CEO and CIO along with other senior members of the team. An internship at Alger is demanding, but we ensure that you have the guidance for a successful experience and some fun along the way.
Qualifications
- Passion for the financial markets and investments along with an extraordinary curiosity about business and industry
- We encourage applicants from all majors to apply in addition to coursework and backgrounds in Finance, Economics, or Accounting
- Demonstrated analytical capabilities, quantitative as well as qualitative, in any coursework an applicant has pursued are required
- Strong GPA
- Excellent communication skills, both written and oral
- High level of self-motivation and work ethic along with the ability to complete assignments quickly and accurately
- Strong competitive spirit and desire to succeed
- Ability to work in a team-oriented fast-pace environment both while being able to prioritize projects
- Positive attitude with a willingness to attack challenging intellectual problems with energy, even in areas of technical difficulty or unfamiliar terminology
- Work closely with analyst teams to coordinate the investment opportunities of companies
- Help the research team create and update financial models, maintain databases that track industry research and statistics. Develop and perform surveys to track industry trends
- Aid the senior analysts on companies’ earnings reports, including previews and reviews
- Collaborate with the investment team on original research projects and ideas