Looking for the best investments for 2021? Hedge funds are training teenage interns in Singapore. In the dog-eat-dog world of hedge funds, giving an internship to a 17-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.

Cao is the youngest in a wave of Singaporeans being readied for the world of active asset management. As billionaire tycoons and global hedge fund giants move en masse to the tiny city-state, a shortage of qualified professionals is starting to bite — forcing the government and investors to do more to cultivate the industry’s next generation.

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