PMF Research Associates
| The Class of 2012’s entrance into the program in February was followed by intense training sessions with Professors Heinkel and Carlson, along with the two senior classes of PMF students, and attending the investment meetings of the outgoing fund managers and their research associates. These sessions are intended to allow the class to “hit the ground running” upon arrival at our Toronto summer internships. The Toronto summer internship experiences are diverse, ranging from research and sales and trading positions on the sell side of Bay Street to analyst positions at buy-side money managers and hedge funds. These summer experiences are invaluable to the growth, both professional and personal, of the PMF students. When they return to UBC in September, they are full of knowledge and a good understanding of security analysis and portfolio management. Just as importantly, they are able to operate in a professional environment where expectations are high and they can meet and exceed those expectations. While at their internships, the students attend (at least) weekly workshops hosted by investment professionals in Toronto to gain insights into a wide variety of capital markets |
topics, from equity analysis to ethics. Following the Toronto internships, the students travel to New York in August to visit alumni and friends of the program there. While in Toronto, the students are paired with a PMF graduate there who volunteers to be that student’s Toronto Summer Mentor. By meeting frequently throughout the summer, the student and Mentor become friends hopefully allowing the alumnus to become a “trusted friend and advisor.” Discussions range from technical to personal, in an office setting or over refreshments after work hours. When they return to UBC, the students then select a Mentor for the rest of their time in the PMF from the list of PMF Counselors. Having learned how to be a Mentee in Toronto, the experience makes the new relationship much easier to initiate and grow. In addition, the students return from Toronto sees them pair up with the senior students to share PMF duties and to research stocks and bonds. This critical pairing allows a huge amount of knowledge transfer over the next 8 months. Soon they are prepared to take over control of the PMF portfolio as Fund Managers. |
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Research associates are each paired with individual mentors, who serve to coach, mentor, and train the associates in any number of topics and develop a lasting relationship. Thanks to mentors, counselors, faculty supervisors, employers, and fund managers, all of whom form the backbone of training the new class, the associates are well equipped to manage the portfolio when they become fund managers upon inheritance. |