In this latest edition of our Intern Spotlight Q&A series, we're pleased to highlight Verger's summer 2023 investment interns.
All three interns noted that their favorite project was The Verger Intern Capstone Project. As Pirmin explained, "The Capstone Project essentially began the first day we were at Verger and from then on, we were all in. The project began with the Investment Team giving us screening criteria for a specific type of investment. After doing the initial screening, we began with just under 500 potential investments. From then on it was up to us to run quantitative analysis, do our due diligence, and continue narrowing down our list. Once we got our list down to four potential investments, it was time to meet with the firms in person. This was a learning experience for all of us which was very valuable because we got to run our own meetings with professionals in the industry."
Massie added, "This project helped me understand the lengthy and detail oriented investment process Verger goes through in order to find a successful investment."
Ethan agreed. "I was so fond of the project as it truly encapsulated so much of our experience as interns. The qualitative metrics Taylor Jackson and Craig Thomas taught us in the asset class overviews were ones we could directly employ when screening the funds. The experience of sitting in with Jim Dunn on manager meetings helped us prepare to meet with our own selected managers. Even conversations with the client relations team allowed us to understand exactly which type of funds met the Verger strategy. The Capstone Project allowed us to take a step forward as interns, going from listeners and observers to independently pitching our own manager to the investment team."
Massie noted, "My view of asset management has changed in the aspect of just how many people it takes to successfully run a firm. Learning how the investments and operations team works together has given me great insight into how there is more to raising capital than meets the eye. I have also learned how much teamwork institutional investment takes. The Investment Team has displayed how to properly communicate and perform in order to be successful."
Pirmin added, "Before starting my internship at Verger, I viewed investing through a purely qualitative lens. I assumed that investment decisions were made based on track record, risk and return analysis, and all the other metrics taught in your typical Finance 101 class. Upon starting at Verger, however, I quickly learned the importance of the qualitative side of the job. I was shocked to see how much of manager selection comes down to relationships and connections. It has shown me just how personable of a field asset management really is."
Thank you to our summer interns for their contributions! For more information about Verger's Internship Program, please visit our Careers page.