LoCorr Futures Portfolio Fund, Limited Partnership - Company Summary

Business Overview

• Type: Maryland limited partnership
• Established: Formed on May 11, 1989; began trading on January 2, 1990
• Primary Activity: Engages in speculative trading of financial instruments, including futures contracts, forward currency contracts, options, and swaps traded in the U.S. and internationally.
• Market Sectors Traded:
  • Agricultural commodities
  • Currencies
  • Energy products
  • Equity indices
  • Interest rate instruments
  • Metals
  • Single stock futures
• Trading Strategy: Uses professional trading advisors, with assets allocated among multiple advisors to diversify and reduce volatility. Assets may also be allocated to other investment pools at the discretion of the General Partner.

Regulatory Status

• SEC Registration: Filings include Form 10-K, 10-Q, 8-K, 3, and 4.
• Regulatory Bodies:
  • Under the Commodity Exchange Act (“CEAct”)
  • Regulated by the U.S. Commodity Futures Trading Commission (“CFTC”)
  • Registered with the National Futures Association (“NFA”)
• Futures and Currency Trading: Conducted with specific approved brokers and counterparties, including subsidiaries of Société Générale and Deutsche Bank.

Operations & Management

• Management: Managed exclusively by the General Partner, Steben & Company, LLC.
• General Partner Role:
  • Selects and monitors trading advisors
  • Allocates assets among advisors
  • Manages relationships with brokers, accountants, and attorneys
  • Handles reporting and operations
  • Provides administrative services
• Key Personnel:
  • Kevin Kinzie (Chairman and CEO, involved in mutual funds and investment management)
  • Jon Essen (Chief Financial Officer, extensive experience in financial management)

Customer & Investor Information

• Number of Limited Partners (as of Feb 28, 2025):
  • Class A: 865
  • Class A2: 1
  • Class B: 454
  • Class I: 1
  • Class R: 68
• Unit Portfolios:
  • Multiple classes with differing investment minimums ($10,000 for most classes, $2,000,000 for Class I).
• Redemption & Transfer:
  • Interests are transferable only with approval, no public trading market.
  • Investors can redeem units monthly, with certain restrictions and notice periods.
• Total Assets (as of December 31, 2024): Approximately $108.1 million
• Net Asset Value per Unit (varies by class and date)

Financial Performance (2024)

• Revenue:
  • Net gains from trading: approximately $2.16 million
  • Interest income: approximately $5.18 million
• Expenses & Fees:
  • Management and incentive fees paid to trading advisors
  • Brokerage commissions (~$2.61 per futures transaction)
  • Management fees paid to the General Partner (~$1.8 million in 2024)
  • Administrative and other operational costs
• Net Income (2024): Approximately $388,366
• Assets:
  • Total assets as of December 31, 2024: approximately $109.7 million

Key Activities

• Conducts speculative trading on multiple market sectors and geographic regions.
• Engages multiple trading advisors to diversify strategies and reduce volatility.
• Executes trades on international futures exchanges and over-the-counter forward currency markets.
• Manages cash reserves in high-quality fixed income instruments.
• Offers monthly redemption of investor interests based on net asset value.

Summary

LoCorr Futures Portfolio Fund, Limited Partnership is a speculative investment fund that primarily engages in trading various derivatives and financial instruments across global markets. It is managed by a dedicated management team with regulatory oversight by the SEC, CFTC, and NFA, utilizing multiple trading advisors to diversify trading strategies and market exposures. The fund maintains a diversified asset base, reports quarterly and annual financials, and serves a limited number of institutional and accredited investors through its various unit classes.