Summer Analyst, Dumac

 

DUMAC is the investment office that manages a mull-billion dollar portfolio on behalf of Duke University, Duke Health System, Duke Employees Retirement Plan, and The Duke Endowment.  DUMAC invests globally across asset classes including venture capital, private equity, hedge funds, real estate, natural resources, derivatives, commodities, equities, and fixed income. DUMAC’s investment performance consistently ranks among the top of its peer group. 

DUMAC is located minutes from Duke University in downtown Durham.  The Raleigh-Durham metro area is a vibrant, technology-focused region of two million residents that regularly lands atop lists of best places to live and work in the country.  DUMAC’s staff hail from across the U.S. and around the globe.

 

What are the responsibilities of the Summer Analyst?

Analysts are involved in all stages of the investment process from sourcing, origination, due diligence, and implementation of investment opportunities to subsequent monitoring and portfolio management.  Analysts may:

• Assist in the identification, evaluation, selection, and monitoring of investment opportunities
• Perform qualitative and quantitative analysis to evaluate and compare opportunities, risks, and performance of current and potential investments
• Assist in determining the appropriate asset allocation for DUMAC's portfolio
• Help maintain the investments database
• Directly assist the Chief Investment Officer or other investment team members in making critical presentations
• Draft reports detailing investment recommendations and actions
• Independently research projects related to portfolio management and new investment areas

What makes the analyst role a compelling opportunity?

• Broad exposure to a wide range of investment strategies. Analysts may focus on liquid investments including equities, hedge funds, fixed income, and commodities and/or illiquid investments including venture capital, private equity, private credit, natural resources, and real estate.  Exposure to a wide range of asset classes gives analysts an opportunity to learn about numerous investment strategies.
• Access to the world’s greatest investors. Analysts interact with many of the best investors in the world.  Since investment managers view U.S. endowments as high-quality clients, our capital is coveted by investment management firms across the globe.
• Responsibility. DUMAC’s small and flat organization provides analysts the opportunity to assume significant responsibility.  Analysts may join  manager dialogues and frequently conduct valuable and actionable research.
• Culture. The environment at DUMAC is highly collegial.  Analysts are encouraged to pursue research projects that could be additive to the investment process and to form and share opinions on managers or markets throughout the process.
• Professional development. Summer Analysts who are offered a full-time Analyst position following graduation join a 3-year analyst program during which analysts have the chance to meet, learn from, and interact with top investment managers.  The analyst position is an exceptional starting point for a career in asset management and related fields.  DUMAC also provides to full financial support for full-time analysts pursuing the Chartered Financial Analyst (CFA) exams.

What makes an endowment unique?

• An infinite time horizon allows the investment team to make very long-term allocations, take positions contrary to popular opinion, and accept volatility in individual investments
• Large weightings in emerging markets, commodities, and alternative and illiquid investments (hedge funds, venture capital, private equity, real estate, natural resources, etc.) drive investment performance to a level not obtainable by the vast majority of market participants

Desired qualifications

• Bachelor’s degree from accredited colle