About Steben

Global Diversification

Steben & Company’s strength is our ability to conduct global manager due diligence, selection, allocation and monitoring. For over a quarter century, our Research and Risk Management Team has searched globally for what we believe are the best investment managers available for inclusion in our Funds.

By developing investment products that combine these managers, and then consistently monitoring and evaluating their performance, we can deliver the types of products that investors seek when allocating to alternative investments.

Managed Futures Diversification

Managed futures trading advisors take both long and short positions in over 200 futures markets from around the globe, including currencies, energies, interest rates, metals, equity indices and agricultural commodities. These markets are impacted — positively or negatively — by geopolitical concerns, currency risk and local investor sentiment, among other factors. By trading in global markets, the trading advisors can potentially take advantage of worldwide price trends that are often driven by these events.

Agriculturals

Agriculturals

Soybeans, Soymeal, Corn, Wheat, Cotton, Cocoa, Coffee, Sugar, Bean Oil, Canola

Equity Indices

Equity Indices

DAX (Germany), FTSE 100 (UK), Hang Seng (Hong Kong), NASDAQ 100 (US), Nikkei (Japan), S&P 500 (US)

Currency

Currencies

Australian Dollar, British Pound, Canadian Dollar, Euro, Japanese Yen, Norwegian Krone, Swedish Krona, Swiss France

Interest Rates

Interest Rates

Long-Term: Bund (Germany), JGB (Japan), Treasury Bonds & Notes (US);Short-Term: Eurodollar (US), Euroyen (Japan), Schatz (Germany)

Energy

Energy

Brent Crude, Gas Oil, Heating Oil, Natural Gas, Unleaded Gas, WTI Crude

Metals

Metals

Aluminum, Copper, Gold, Lead, Nickel, Platinum, Silver, Zinc

PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RETURNS. THERE IS NO GUARANTEE THAT ANY INVESTMENT WILL ACHIEVE ITS OBJECTIVES, GENERATE PROFITS OR AVOID LOSSES.

RISK CONSIDERATIONS: Managed futures and other alternative investments are not suitable for all investors. Their investment programs are speculative and performance can be volatile. An investor could lose all or a substantial amount of their investment. They involve a high degree of risk and often engage in leveraging and other speculative investment practices that may increase the risk of investment loss. In addition, they can be highly illiquid; are not required to provide periodic pricing or valuation information to investors; may involve complex tax structures and delays in distributing

important tax information; may not be subject to the same regulatory requirements as mutual funds; and often charge high fees which may offset any trading profits. Diversification does not ensure a profit or guarantee against a loss. Alternative investment managers typically exercise broad investment discretion and may apply similar strategies across multiple investment vehicles, resulting in less diversification. Trading may occur outside the United States which may pose greater risks than trading on US exchanges and in US markets.

Additionally, alternative investments often entail futures, forwards contracts and swaps trading, which involves substantial risk of loss and may be volatile. Other risks inherent in an investment in alternatives include short sales, options,
derivatives, junk bonds, emerging markets and limited regulatory oversight.

There may not be a secondary market for an investor's interest in alternative investments, and none may develop. There may be restrictions on transferring interests in some types of alternative investments.

Please see our Glossary of Terms.

This website is not an offer to sell, or a solicitation of any offer to buy an interest in any Steben Fund. Any such offer or solicitation of an investment may be made only by delivery of the Fund’s prospectus or confidential offering memorandum. This website is not complete and does not contain certain material information about the Steben Funds, including important disclosures and risk factors associated with an investment in the Funds.