Skip to content
Student Yi Ke Cao at Raffles Girls School in Singapore, on March 3.

Student Yi Ke Cao at Raffles Girls School in Singapore, on March 3.

Photographer: Wei Leng Tay/Bloomberg

Hedge Funds Are Training 16-Year-Old Interns in Singapore

As billionaires flock to the tiny city-state, a shortage of qualified professionals is starting to bite.

In the dog-eat-dog world of hedge funds, giving an internship to a 16-year-old is almost unheard of. But when local talent is hard to find, teaching a minor how to generate alpha can be a worthwhile investment.

And so last summer, high schooler Yi Ke Cao spent two weeks at Modular Asset Management, a near $1 billion Singaporean hedge fund spun out of Millennium Management LLC. She crunched data in spreadsheets, chatted with veterans and watched nerve-wracking meetings where money managers defended their investment ideas from peers.