GAITHERSBURG, Md., Nov. 3, 2016 /PRNewswire/ -- Steben & Company, Inc., a leading alternative asset manager, was awarded "Fund of Hedge Funds Newcomer" for its Steben Select Multi-Strategy Fund ("Steben Select") at the HFMWeek US Hedge Fund Performance Awards, held in New York City on October 20, 2016.
"Steben Select recently celebrated its 3-year mark at the end of July 2016. We are honored by the industry's recognition for our accomplishments and pleased with the Fund's overall performance. We believe our differentiated focus on more liquid, lower beta hedge fund strategies will continue to provide investors with the potential benefits of diversification throughout market cycles," said Ken Steben, CEO and President of Steben & Company. Steben Select is a multi-manager fund of hedge funds comprised of an actively managed allocation to a diverse portfolio of select hedge funds. The Fund seeks to provide the diversification benefits of a hedge fund portfolio through a single investment with convenient 1099 tax reporting. The 2016 HFMWeek US Hedge Fund Performance Awards celebrated hedge funds and fund of hedge funds, rewarding those funds that have outperformed their peers. A panel of independent judges selected the winners and short list nominees. The judges are carefully selected for their experience and expertise, as well as their absence of conflicts of interest. About Steben & Company Steben & Company is a leading alternative asset manager. We specialize in multi-manager products including fund of hedge funds and managed futures strategies. Our investment philosophy is defined by high conviction, actively managed exposures with a focus on more liquid, lower beta strategies. Our funds are designed to provide investors with the potential benefits of diversification and absolute returns regardless of market direction.