Steben Select Multi-Strategy Fund

Fund Objective

The Fund’s investment objective is to seek capital appreciation with low long-term correlation to traditional public equity and fixed income markets, while also attempting to maintain a low correlation to managed futures and Real Estate Investment Trusts (REITs). The Fund aims to select managers who focus on more liquid strategies, which may allow managers to reposition portfolios in difficult market periods in an attempt to reduce volatility and minimize drawdowns.

Select Benefits Overview

 

1. Beta: Measures a fund’s sensitivity to market movements by comparing a fund’s excess return (over a benchmark) to the market’s excess return. By definition, the beta of the market is 1.00. For example, a beta that is lower than 1.00 would normally indicate that a fund’s excess return is expected to be above the market’s excess return in a down year and below in an up year. However, beta cannot predict a fund’s future performance.

2. Although the Fund has limited liquidity, it searches for hedge funds that utilize strategies with a higher level of liquidity as compared to other funds of hedge funds.

 

Learn more about the manager selection process

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