Exhibit 99.4
Notice of Withdrawal of Tender
Regarding Class A Shares and Class I Shares in
Steben Select Multi-Strategy Fund
Tendered Pursuant to the Offer to Repurchase
Dated September 21, 2018
This Notice of Withdrawal Must Be Received by
Steben Select Multi-Strategy Master Fund by,
12:00 Midnight, Eastern Time, on October 22, 2018,
which is the expiration date of the Offer unless the Offer Is Extended
or
any time after November 19, 2018, which is the Acceptance Date,
if the Fund will have not accepted your tender of Shares by that date.
Complete this form only if you would like to rescind your previous Tender Request.
Complete this Notice of Withdrawal and Return or Deliver to
Steben Select Multi-Strategy Fund:
Regular Mail:
Steben Select Multi-Strategy Fund
c/o U.S. Bancorp Fund Services, LLC
P.O. Box 701
Milwaukee, WI 53201-0701
Overnight Mail:
Steben Select Multi-Strategy Fund
c/o U.S. Bancorp Fund Services, LLC
615 E. Michigan Street, 3rd Floor
Milwaukee, WI 52302
For additional information:
Phone: 800.726.3400
Notice of Withdrawal of Tender
Steben Select Multi-Strategy Fund
Page 1
Complete this form only if you would like to rescind your previous tender request1.
Ladies and Gentlemen:
The undersigned previously tendered all or some of its shares in Steben Select Multi-Strategy Fund (the “Fund”) for repurchase by the Fund by submitting a Letter of Transmittal Regarding Shares in the Fund Dated September 21, 2018 (the “Letter of Transmittal”).
Such tender was in the amount of:
| ☐ | All of the undersigned’s shares. |
| ☐ | That amount of the undersigned’s shares having the following dollar value: | |
| Class A Shares : $_________ Class I Shares : $_________ |
| ☐ | That amount of the undersigned’s shares whose value is in excess of the required minimum initial investment applicable for the Fund. |
As indicated immediately below, the undersigned hereby wishes to withdraw its tender of shares in the Fund such that:
| ☐ | NONEof the undersigned’s shares will be repurchased by the Fund. |
| ☐ | SOMEof the undersigned’s shares will be repurchased by the Fund and the dollar value of those sharesstill to be repurchased by the Fundis: | |
| Class A Shares : $_________* Class I Shares : $_________* |
* NOTE: This option may be usedonly todecreasethe dollar value of the shares to be repurchased by the Fund. If an increase in the dollar value of the shares to be repurchased by the Fund is indicated on this form, the Fund shall consider this form null and void and shall process the undersigned’s initial tender request as set forth in its previously submitted Letter of Transmittal.
The undersigned recognizes that, upon the submission on a timely basis of this Notice of Withdrawal of Tender, properly executed, all or some of the undersigned’s Class A Shares and/or Class I Shares in the Fund (as indicated above) previously tendered will not be repurchased by the Fund upon expiration of the tender offer described above.
Account Number: _________________________
1You have the right to change your mind and withdraw any tenders of your Shares: (i) until 12:00 Midnight, Eastern Time, on the Expiration Date, July 23, 2018; or (ii) any time after the Acceptance Date, November 19, 2018, if the Fund has not accepted your tender of Shares by that date.
Notice of Withdrawal of Tender
Steben Select Multi-Strategy Fund
Page 2
SIGNATURE(S):
| FOR INDIVIDUAL INVESTORS AND JOINT TENANTS: | FOR OTHER INVESTORS: | |
| Signature | Print Name of Investor | |
(SIGNATURE OF OWNER(S) EXACTLY AS APPEARED ON APPLICATION FORM UPON PURCHASE OF SHARES) | ||
| Print Name of Investor | Signature | |
(SIGNATURE OF OWNER(S) EXACTLY AS APPEARED ON APPLICATION FORM UPON PURCHASE OF SHARES) | ||
Joint Tenant Signature if necessary EXACTLY AS APPEARED ON APPLICATION FORM UPON PURCHASE OF SHARES) | Print Name of Signatory and Title | |
| Print Name of Joint Tenant | Co-signatory if necessary EXACTLY AS APPEARED ON APPLICATION FORM UPON PURCHASE OF SHARES) | |
| Print Name and Title of Co-Signatory | ||
| Date:_____________________ |
Notice of Withdrawal of Tender
Steben Select Multi-Strategy Fund
Page 3