EXHIBIT
31.01
 
 Rule 13a-14(a)/15d-14(a)
Certifications
  I,
Kenneth E. Steben, certify that:
 
 1.  I
have reviewed this report on Form 10-K of Futures Portfolio Fund, Limited
Partnership;
 
 2.  Based
on my knowledge, this report does not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not misleading
with respect to the period covered by this report;
 
 3.  Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and
for, the periods presented in this report;
 
 4.  The
registrant’s other certifying officer and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and
15d-15(e))  and
internal control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the registrant and have:
 
 a)  Designed
such disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision,  to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;
 
 b)  Designed
such internal control over financial reporting, or caused such internal control
over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;
 
 c)  Evaluated
the effectiveness of the registrant’s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this
report based on such evaluation;
 
 d)  Disclosed
in this report any change in the registrant’s internal control over financial
reporting that occurred during the registrant’s most recent fiscal quarter (the
registrant’s fourth fiscal quarter in the case of an annual report) that has
materially affected, or is reasonably likely to materially affect, the
registrant’s internal control over financial reporting; and
 
 5.  The
registrant’s other certifying officer and I have disclosed, based on our most
recent evaluationof internal control over
financial reporting, to the registrant’s auditors and the audit committee
of registrant’s board of directors (or persons performing the equivalent functions):
 
 a)  All
significant deficiencies and material weaknesses in the
design or operation of internal control over financial
reporting which are reasonably likely to adversely affect the
registrant’s ability to record, process, summarize and report financial
information; and
 
 b)  Any fraud, whether or
not material, that involves management or other employees who have a significant
role in the registrant’s internal control over financial reporting.
 
 
 Date:
March 31, 2009
 
 /s/ Kenneth E.
Steben
 By:
 Kenneth
E. Steben
 President,
Chief Executive Officer and Director of the General Partner
 (Principal
Executive Officer)