About Steben

About Steben

Research & Risk Management Team

Our manager selection and allocation processes are guided by over 30 years of experience using advanced qualitative and quantitative criteria. We have made significant investments in research, technology and personnel to enhance our process for evaluating and selecting, what we believe to be, the best alternative investment managers.

  • John Dolfin, CFA
    Chief Investment Officer

    John Dolfin is the Chief Investment Officer of Steben & Company. John joined the Firm in 2011, with a background in due diligence, research in financial markets, and allocation to alternative strategies. Prior to joining Steben & Company, John was Managing Director, Liquid Strategies Group at SAFANAD Inc., and he served as Director, Head of Macro and CTA Strategies at Merrill Lynch Wealth Management. John earned his Bachelor of Arts, in Philosophy, Politics and Economics from The University of Oxford in 1993, and his Masters in Economics from Yale University in 1996. John has been a CFA charterholder since 2005.

  • Andrew John
    Andrew John, CFA
    Manager of Risk Analytics

    Andrew John is the Manager of Risk Analytics at Steben & Company. Andrew joined the Firm in 2015, with a background in finance and risk management. Prior to joining Steben & Company, Andrew worked as a risk management consultant at Pace Global providing energy hedging advice to utilities. He began his career as a stockbroker at Charles Schwab & Co. Andrew earned his Bachelor’s degree in Mathematics from Arizona State University in 2007 and a Masters in Business Administration with a concentration in Investments from the University of Notre Dame in 2012. Andrew is also a CFA charter holder and holds the Series 3 license.

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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.

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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 Education section for more information on alternative investments, their risks, and a 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.