Now Recruiting Fall 2015 Junior Analysts Applications Due April 23 www.minutemenfund.com

Outline What is fixed income and credit research? What do we do at the fund? Why should I join the fund? How can I join the fund?

What is fixed income? An investment that provides a return in the form of fixed periodic payments and the eventual return of principal at maturity. The typical payments of a fixed-income security are known in advance. Ex: Corporate bonds, government bonds, mortgage backed securities.

What is credit research? Credit research is the process of analyzing a company or a particular bond to determine the likelihood of default. Conduct fundamental analysis, looking at financials, ratios, industry trends, as well as more complex credit models such as KMV probability of default. Similar to equity research but credit analysts look at all levels of the capital structure and work with distressed companies.

Why Fixed Income? More jobs due to relative size of market Larger spectrum of products Firms are training new hires to look at entire capital structure not just equity Sell side firms merging credit & equity divisions Transferable skill set

Our Fund We have a mix of freshman, sophomores, juniors, and seniors across a variety of majors.

What do we do at the fund? Research companies Market update Read 10k, 10q, earnings transcript Stay up to date on industry trends Create financial models like 3-statement, DCF Market update Bloomberg Terminal course Create company and industry reports Pitch investments

Responsibilities of Junior Analyst Cover 2-3 companies in a sector Compile research report on each company Pitch buy/sell recommendations Cover a part of the market for market update Attend Bloomberg Course Eventually, Junior Analyst may be promoted to Senior Analyst who covers an entire industry rather than specific companies. Three upperclassmen chosen to fill leadership roles each year.

Why MFIF? Build technical and professional communication skills Build network of most dedicated students in Isenberg and UMass Interact with alumni in Finance industry as well as faculty Better position yourself to find an internship or job

Why MFIF? Members have received offers at top firms in: Investment Banking Bulge Bracket S&T Management Consulting Asset Management Buy Side Credit Research Big-4 Audit Corporate Finance Insurance

How can I join the fund? Applications are now open on our website. We will be accepting applications through Thursday, April 23. Please visit our website and complete the application, then send it in along with your resume and unofficial transcript to our email. Website: minutemenfund.com Email: minutemenfixedincomefund@gmail.com

Questions? Visit our website or send us an email if you have any questions about the fund or application process. Additionally, feel free to reach out to any member of our leadership team. Website: minutemenfund.com Twitter: @MFIF_Isenberg Email: minutemenfixedincomefund@gmail.com Alex Brown: alexandb@umass.edu Alex Geshwind: ageshwind@umsas.edu Ryan Harwood: r.jay.harwood@gmail.com

Now Recruiting Fall 2015 Junior Analysts Applications Due April 23 www.minutemenfund.com