Steben Select Multi-Strategy Fund

Portfolio Managers

As of August 1, 2018, the Fund was invested in the following managers:

BlackRock Financial Management

BlackRock

Distills ideas from BlackRock’s 300+ person fixed-income investment and research platform into a portfolio of relative value themes in global interest rates, agency mortgages, corporate credit, and structured credit.
•  Investment Style: Fixed Income Relative Value
•  Firm Founded: 1988
•  Location: New York, NY
•  Firm Assets: $4.2 Trillion as of 06.30.18
•  Portfolio Manager: Stuart Spodek
•  Program Investment Minimum: $1 Million

Graham Capital Management, L.P.

Graham Capital

A macro-oriented alternative investment firm that offers a wide variety of discretionary and quantitative macro-oriented portfolios, investing across global fixed income, currency, equity and commodity markets.
•  Investment Style: Global Macro
•  Firm Founded: 1994
•  Location: Rowayton, CT
•  Firm Assets: $14.9 Billion as of 06.30.18
•  Chairman and Founder: Kenneth G. Tropin
•  CIO and President: Pablo Calderini
•  Program Investment Minimum: $1 Million

Landscape Capital, LLC

Landscape Capital Management, LLC

A quantitative equity market neutral manager using multiple trading strategies. These include closed end fund arbitrage, share class arbitrage, models based on investor behavioral biases and models based on social media and non-traditional data sets.
•  Investment Style: Equity Market Neutral
•  Firm Founded: 2006
•  Location: Englewood, NJ and New York, NY
•  Firm Assets: $326 Million as of 06.30.18
•  Portfolio Manager: Team Managed
•  Program Investment Minimum: $1 Million

Marshall Wace LLP

Marshall Wace

Marshall Wace dynamically allocates capital across multiple discretionary and systematic global equity long/short strategies. They pioneered a quantitative “alpha capture” strategy which seeks to identify and implement what they feel are the best trade ideas generated by brokerage firms.
•  Investment Style: Equity Long/Short
•  Firm Founded: 1997
•  Location: London, UK
•  Firm Assets: $34.7 Billion as of 06.30.18
•  Portfolio Manager: Paul Marshall
•  Program Investment Minimum: $5 Million

Capital Fund Management, S.A.

CFM

With over 40 researchers, this manager has one of the largest quantitative research groups in the world, and is one of Europe’s largest systematic hedge fund managers.
•  Investment Style: Quantitative Equity and Directional Trading
•  Firm Founded: 1991
•  Location: Paris, France
•  Firm Assets: $11.1 Billion as of 06.30.18
•  Portfolio Manager: Team Managed
•  Program Investment Minimum: $1 Million


Hunting Hill Global Capital, LLC

Hunting Hill Global Capital

A market neutral manager focused on ETF arbitrage and other low beta strategies.
•  Investment Style: Equity Market Neutral
•  Firm Founded: 2012
•  Location: New York, NY
•  Firm Assets: $320 Million as of 06.30.18
•  Portfolio Manager: Adam Guren
•  Program Investment Minimum: $1 Million

Man Investments, Ltd.

MAN

Man Investments, Ltd. has been an innovator in quantitative investment strategies since the 1980s. They focus on momentum strategies in global macro markets, including those not traditionally accessed by Commodity Trading Advisors.
•  Investment Style: Global Macro
•  Firm Founded: 1987
•  Location: London, UK
•  Firm Assets: 6.3 Billion as of 06.30.18
•  Portfolio Manager: Matthew Sargaison
•  Program Investment Minimum: $5 Million


Quantitative Investment Management LLC

Quantitative Investment Management LLC

Develops proprietary frameworks for predicting short- and medium-term price movements for a wide variety of markets. They employ numerous quantitative trading models that utilize pattern recognition to predict the global equity and futures markets.

•  Firm Founded: 2003
•  Location: Charlottesville, VA
•  Firm Assets: $4.4 Billion as of 12.31.17
•  Investment Style: Equity Long/Short
•  Portfolio Manager: Jaffray Woodriff
•  Program Minimum Investment: $1 Million

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