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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
Date of Report (Date of earliest event reported): December 1, 2004
FUTURES PORTFOLIO FUND LIMITED PARTNERSHIP
(Exact name of registrant as specified in its charter)
Maryland 000-50728 52-1627106
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(State of Incorporation) (Commission ( IRS Employer Identification No.)
File No.)
c/o Steben & Company, Inc.
2099 Gaither Road, Suite 200
Rockville, Maryland 20850
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(Address of Principal Executive Office)(zip code)
(240) 631-9808
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Registrant's telephone number, including area code:
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (See General Instruction A.2 below):
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
On December 1, 2004, Futures Portfolio Fund, Limited Partnership (the "Fund")
entered into a trading advisory agreement (the "Agreement") with DKR Fusion
Management, LP ("DKR Fusion"). DKR Fusion (formerly DKR Quantitative Strategies
Management Co., L.P.), is a Delaware limited partnership with offices at 1281
East Main Street, Stamford, Connecticut 06902-3565. The Fund utilizes
professional commodity trading advisors, including DKR Fusion, to engage in the
trading of commodities. Pursuant to the Agreement, DKR Fusion acts as one of
five professional trading advisors to the Fund. The Fund will pay DKR Fusion
management fees based upon the assets under DKR Fusion's management in the
amount of 2% per year, paid quarterly, as well as a 20% incentive fee, based on
the "net new trading profits" derived from that portion of the Fund's assets
under DKR Fusion's management.
Item 5.02 Appointment of Principal Officers
On December 1, 2004, Steben & Company, Inc., the General Partner of the Fund,
appointed Michael Bulley Vice President, Research and Risk Management. Mr.
Bulley was formerly Chief Financial Officer of the General Partner. Mr. Bulley
is a Director and Corporate Secretary of Steben & Company, Inc. Additionally,
Barbara Rittenhouse was designated Comptroller of the General Partner. Ms.
Rittenhouse is a Director of the General Partner.
Michael D. Bulley (47) received his Bachelors Degree in Electrical Engineering
from the University of Wisconsin - Madison in 1980 and his Masters in Business
Administration with a concentration in Finance from Johns Hopkins University in
1998. Mr. Bulley is a staff instructor in financial modeling at Johns Hopkins
School of Professional Studies in Business & Education. Prior to joining Steben
& Company in December 2002, Mr. Bulley was CEO of Adaptive Digital Technologies,
Inc., a telecommunications digital signal processor software development company
from October 2001 to December 2002. From April 1999 to October 2001, Mr. Bulley
was Vice President, Telecommunications Technology for TriCapital Corporation, a
boutique investment banking and venture capital firm. From January 1981 to April
1999, Mr. Bulley served in various management positions at telecommunications
and satellite communications companies, specifically Motorola, Loral Advanced
Technology Laboratory, GTE Spacenet, Comsat RSI and RSI (Tri-Point Global). Mr.
Bulley holds his Series 3, 28 and 30 NASD/NFA licenses and is a Financial
Operations Principal, a Principal and an Associated Person of Steben & Company,
Inc.
Barbara Rittenhouse, CPA (47) has 18 years of experience in corporate accounting
and 7 years in financial planning. Ms Rittenhouse received her MS in Personal
Financial Planning from Georgia State University in March 1997 and a BBA with a
concentration in Accounting with Distinction from Emory University School of
Business in 1979. Prior to joining Steben & Company in April 2004, Ms.
Rittenhouse worked as a Financial Planner for the following firms: AXA Financial
from April 2000 to March 2004, Consolidated Planning Corporation from April 1999
to January 2000 and Metlife Progressions from July 1997 to April 1999. From
August 1984 to December 1996, Ms Rittenhouse was an accountant with Bellsouth
Telecommunications as a Staff Manager and an internal auditor. From August 1979
to July 1984 Ms Rittenhouse was an accounts payable supervisor and cost
accountant for Scientific Atlanta.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Futures Portfolio Fund, Limited Partnership
By: Steben & Company, Inc.
General Partner
Date: December 3, 2004 By: /s/ Kenneth E. Steben
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Kenneth E. Steben
President of the General Partner