About Steben

Market Driven Evolution

In investing, the only constant is change. Since 1989, Steben & Company, Inc. has invested heavily in technology, people, and product development to meet the ever changing investment landscape and needs of our investors.

Steben employs an independent, objective process of selecting and monitoring our investment managers. This objectivity allows Steben to act in the best interest of our investors and better evolve our products over time.

Markets, trading methods, and costs are always changing. Because of this, Steben is constantly looking for ways to evolve our selection, allocation, and manager monitoring processes. Over the course of our long history, our goal has been to meet the ever changing needs of our clients and the advisors who serve them.

Steben has built its reputation as a provider of alternative investments since 1989. Our singular focus is to meet the challenges of change and deliver the best products possible to help investors meet their financial goals.

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.