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Stevens Capital Management Review

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Stevens Capital Management

Stevens Capital Management LP (SCM) is a hedge fund manager that operates out of Radnor, Pennsylvania. Through the two investment funds the firm manages, SCM has $4.18 billion in assets under management (AUM) with 27 advisory employees on staff.

Stevens Capital Management Background

Stevens Capital Management was founded in 2002 by the firm’s current CEO, Matthew S. Tewksbury. Other leaders of the firm include chief operating officer (COO) Matthew P. O'Reilly, chief compliance officer (CCO) Jeffrey W. Cameron, chief financial officer (CFO) Ian J. Dickson and director of trade implementation Christopher J. Mueller.

Adams Holdings, LLC, a financial services holding company, owns Stevens Capital Management. Matthew Tewksbury and family own Adams Holdings, making him the indirect owner of the firm.

Employees at SCM hold a variety of certifications, including certified public accountant (CPA) and chartered financial analyst (CFA).

What Types of Clients Does Stevens Capital Management Accept?

As Stevens Capital Management is a hedge fund manager, its "client base" is comprised of two pooled investment vehicles - the two funds it manages. These are the Tewksbury Investment Fund (TIF) and the Hamilton Fund Ltd. (HFL).

Although TIF and HFL are technically two separate funds, HFL’s portfolio of investments is solely made up of shares of TIF. In other words, the returns associated with shares of HFL are fully reliant on the performance of TIF.

There are a multitude of investors that invest in each of these funds. Investments are open to high-net-worth individuals, trusts, partnerships, corporations and employees and individuals that are affiliated with Stevens Capital Management.

Stevens Capital Management Minimum Account Size

The Tewksbury Investment Fund and the Hamilton Fund Ltd. have minimum investment requirements: If you’re looking to invest in either of these funds, you’ll need to initiate at least a $1 million subscription. The funds reserve the right to withdraw this minimum at their discretion.

Associates and employees of SCM can invest in these funds for a minimum of $5,000.

Services Offered by Stevens Capital Management

Stevens Capital Management is entirely responsible for the management of two investment funds, so it provides a wide range of services, such as:

  • Complete investment portfolio management
  • Investment trading through internal and external traders
  • Administrative, legal and regulatory compliance operations
  • Development and implementation of accounting systems, procedures and policies
  • High performance, data intensive application creation by SCM’s team of software engineers and research scientists

Stevens Capital Management Investment Philosophy

Whereas some firms utilize a standard strategy to govern their investment decisions, Stevens Capital Management is open to a wide range of investments, including both exchange-based securities and privately negotiated transactions. SCM has no preference in regards to the time horizon of these investments, so they may live in the funds’ portfolios for either the long- or short-term.

Stevens Capital Management engages in frequent trading, which is a common practice among hedge fund managers. Because of this, the firm reasonably expects to spend more in transaction costs than other investment firms might. SCM even states in its Form ADV that “transaction costs negatively impact TIF's performance.”

Fees Under Stevens Capital Management

Stevens Capital Management receives a 2.50% non-negotiable annual management fee for its services. This rate is based on the net asset value (NAV) of each investor’s shares in the Tewksbury Investment Fund. SCM charges this fee at the beginning of every month, in arrears.

Beyond this, SCM is paid what it calls an “incentive fee” that’s based on any increases in cumulative fund appreciation since the previous incentive fees were charged. This fee will be equal to 30% of this additional appreciation.

Disclosures

Based on its Form ADV, Stevens Capital Management does not have any disclosures to its name. Therefore, it has a clean legal and regulatory record in the eyes of the U.S. Securities and Exchange Commission (SEC).

Opening an Account With Stevens Capital Management

If you’re interested in investing in either the Tewksbury Investment Fund or the Hamilton Fund Ltd. that Stevens Capital manages, it would be best to contact the firm directly. If you prefer to speak over the phone, you can reach SCM at (610) 971-5000. Otherwise, simply stop by the firm in Radnor, Pennsylvania and speak to a representative to learn more.

Where Is Stevens Capital Management Located?

Stevens Capital Management has just one office in Radnor, Pennsylvania at 201 King of Prussia Road, Suite 400. You can find it right down the street from Radnor High School.

Investing Tips

  • As a hedge fund manager, Stevens Capital Management does not offer financial planning services, and it might not be available to investors with lower net worths. If you're looking for financial planning and traditional investment management, you might find a local financial advisor to work with. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • Investors are often so enthralled with the possibility of earning returns that the thought of taxes can fall on the backburner. Be sure that you don’t forget about capital gains taxes, though. To figure out how much you might owe, stop by our capital gains tax calculator.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research