2027 Investment Management Off-cycle Internship – Emerging Markets Debt (London)

Location: London Department: Investment Management

Since 1935, Morgan Stanley is known as a global leader in financial services, continuously evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

Morgan Stanley Investment Management (MSIM), together with its investment advisory affiliates, has about $2 trillion in assets under management or supervision as of June 30, 2026. With 1,366 investment professionals worldwide, and 59 offices in 26 countries, MSIM is able to provide in-depth local knowledge and expertise while channelling the strength of our global presence and resources. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, outstanding service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations, and individuals worldwide.

The Emerging Markets Debt (EMD) team manages approximately $35 billion across a range of investment strategies. The team analyses the macroeconomic and political environments of more than one hundred countries and translates these fundamental views into investment ideas. Our research process leverages traditional news and crowd-sourced media, economic data releases, relationships with economists and political analysts, and on the ground travel to meet with policy makers and in-country experts. We exploit both long and short investment opportunities and use a variety of sovereign bonds, currencies, equities, and other cash and derivative instruments in order to execute our strategies. Our team is made up of highly motivated professionals with diverse backgrounds who complement our global perspective.

Placement and duration

The Off-Cycle Internship is an opportunity to experience the culture and atmosphere in the Investment Management Division by taking on some of the responsibilities and functions of a Full-time Analyst for a short period. The Off-Cycle Intern will work closely with portfolio managers, analysts, and research associates across the team. The CEEMEA team focuses on Eastern Europe, Central Asia, Middle East and Africa – the ideal candidate will have a strong interest in emerging market economies of these regions and global events shaping this part of the world.

The internship will commence in January 2027 and typically lasts twelve months. This internship will offer you an exciting and a dynamic work environment where you get to work alongside our diverse group of experienced professionals. The work that you do will be interesting and varied. At the end of the internship, exceptional performers will be considered for full-time roles on the team.

Training Program

You will receive on-the-job training and benefit from working alongside experienced professionals on a variety of projects. The role offers close proximity to the investment process and significant exposure to the team’s research process, including interactions with government officials, central bankers, ministries of finance, and representatives of multilateral institutions such as the IMF and World Bank.

Roles and Responsibilities

Gather, maintain, evaluate, and distribute macroeconomic data from disparate sources for use in the investment research process

Prepare daily news summaries for portfolio managers by monitoring various news sources for specific countries and regions

Partake in research and due diligence conference calls and meetings

Interpret data, create visualizations, and communicate valuable information to the team

Maintain contact and meeting databases, coordinate complex research travel and support scheduling meetings for portfolio managers and analysts

Demonstrate flexibility, responsiveness, and the ability to support a global investment team across time zones

Conduct ad-hoc economic, country or sectoral research for portfolio managers and analysts

Qualifications/Skills/Requirements

Bachelor's degree with a strong academic track record required; master’s degree is a plus

This opportunity is intended for recent graduates with internship experience and limited professional work experience

You are highly motivated, intellectually curious, and genuinely interested in emerging markets and the investment research process

You are fluent in English, with excellent verbal and written communication skills. An ability to communicate effectively in multiple languages would be an advantage, particularly languages of CEEMEA region

You have a keen interest in emerging market countries, politics, economic policy, and macroeconomics

You have strong analytical and numerical skills

You anticipate needs, exercise sound judgment, identify process improvements, solve problems independently, operate with a high degree of ownership

You are highly organized, detail-oriented, and able to manage multiple competing priorities under tight deadlines

You are comfortable interacting professionally and confidently with senior external stakeholders, including government officials, policymakers, and representatives of international financial institutions

You have knowledge and operating self-sufficiency in programming language(s), primarily Python, with demonstratable experience in at least one significant coding project

You have experience with LLMs / AI models, including an understanding of how they operate, and an analytical approach on how to prompt LLMs effectively and utilise AI for automation

You have a reflex to identify inefficiencies in processes and propose automated solutions/improvements, utilising technology

Application Process and Deadline

We recruit on a rolling basis so application is encouraged as soon as possible. We aim to review all applications within a timely manner, however our response times may vary due to high volumes. Please be assured that you will receive an update via email as soon as a decision on your application has been reached, and kindly not