Hedge Fund Strategies Intern

The State of Wisconsin Investment Board (SWIB), founded in 1951, is a premier global investment organization responsible for managing the more than $178 billion of assets of the fully funded Wisconsin Retirement System (WRS), the State Investment Fund and other state funds. Through SWIB’s effective and innovative investment management, WRS remains one of the only fully funded US public pensions. The WRS consistently ranks among the 10 largest public pension funds in the U.S. SWIB is recognized by the investment industry for our teamwork and innovation.

SWIB pursues sophisticated global investment strategies across the asset and risk allocation spectrum. Providers across the investment ecosystem seek to partner with SWIB. Serving more than 703,000 beneficiaries of the WRS, SWIB is a mission-driven organization focused on providing a strong financial future to those who committed their careers to public service. For public employees and the 1,607 Wisconsin employers who contribute on their behalf, we are a trusted partner.

Our team innovates continuously to meet the challenges of an evolving investment landscape while growing and protecting the assets of the WRS. SWIB provides a strong, steady economic pillar for the state of Wisconsin by growing the trust funds under its management, managing risk, and optimizing costs of the long term. We are a mission-driven organization and the participants we serve are our mission.

By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating required returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.

Our high-performing staff is key to what makes us a premier investment manager. SWIB is committed to investing in talented professionals to implement our robust, sophisticated investment strategies and to keep the organization at the forefront of the investment industry. We encourage innovation and offer professional development opportunities to help staff sharpen and expand their skills. Approximately 61 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charter holders.

The Funds Alpha division consists of eight investment professionals who actively manage approximately $9 billion of hedge fund AUM and $28 billion of beta one equity and fixed income AUM. The Funds Alpha team is responsible for selecting external investment managers to generate differentiated and high-quality returns. The hedge fund portfolio is managed under an absolute return mandate, resulting in a diverse range of underlying sub-strategies, including systematic and fundamental equity market-neutral, global macro, credit, event-driven, specialty finance, and co-investment.

The beta one portfolios are managed relative to global equity and fixed income benchmarks. Active strategies in beta one includes a combination of fundamental and systematic investment processes. Funds Alpha’s manager selection process includes significant qualitative and quantitative diligence focused on setting expectations for forward return level and source across beta, style, and alpha. Investment professionals meet with managers of existing and prospective strategies in Madison and across the globe to evaluate the quality of return and fit within the portfolio.

Manager exposures, track record, and other transparency are thoroughly analyzed through multiple systems to provide evidence and support throughout the process.

SWIB is seeking a student intern to join its Funds Alpha Team, which will be assigned to a lead analyst but is expected to leverage the broader team. The internship is an…