Jeremy Lee '09

Major: Business Administration
Concentration: Finance
Internship location: BlackRock Inc., New York, New York
When: Summer 2007 and summer 2008
Group: Account Management Group (AMG), Proprietary Alpha Strategies

Proprietary Alpha Strategies is a products-based group within AMG which is responsible for managing and marketing BlackRock’s single-strategy hedge funds and absolute-return vehicles.

In addition to immersing myself in the alternative investments realm this summer, I was able to create and present competitive landscapes for three of BlackRock's hedge funds (the Agriculture Hedge Fund, Enhanced Commodity Fund, and Emerging Markets Debt Hedge Fund). The outlooks provided managers with vital information on how well our funds were positioned in the market relative to our competitors. Such material was not only used for the benefit of my group when it considered how to reposition various strategies, but also for our clients who were interested in generating positive alpha in a tumultuous market.

Along with these long-term projects, I calculated monthly performance analytics for our equity- and fixed-income-based hedge funds, in addition to updating relevant databases. Much of my work was used as a basis for conversation during client meetings -- not to mention global marketing events attended by our account managers.

One of the most rewarding experiences I had that summer was the "Intern Investment Challenge." This project required groups of interns to manage an equity-based mutual fund using the depth and breadth of BlackRock’s investment platform. At the conclusion of the intern program, we marketed our portfolios to vice presidents and managing directors throughout the firm. Out of 13 investment teams, my group received a third-place award.