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Fair Value Measurements and Disclosures (Tables)
 12 Months Ended
Dec. 31, 2012
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The Partnerships' assets and liabilities measured at fair value on a recurring basis are summarized in the following tables by the type of inputs applicable to the fair value measurements.

 
Spectrum Currency
 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
 
Significant
Unobservable
Inputs
(Level 3)
  
 
 
 
 
Total
 
   $  $  $  $ 
Assets
                
Investment in KR Master Fund
  –   10,109,603   n/a   10,109,603 
Investment in Cambridge Master Fund
  –   6,920,831   n/a   6,920,831 
Forwards
   –   105,849   n/a   105,849 
Total Assets
   –   17,136,283   n/a   17,136,283 
                  
Liabilities
                
Forwards
   –   64,477   n/a   64,477 
Total Liabilities
   –   64,477   n/a   64,477 
                  
Unrealized currency gain
              1,833 
                 
*Net fair value
   –   17,071,806   n/a   17,073,639 

 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
 
Significant
Unobservable
Inputs
(Level 3)
  
 
 
 
 
Total
 
   $  $  $  $ 
Assets
                
Forwards
  –   38,838   n/a   38,838 
Options Purchased
   –   1,534   n/a   1,534 
Total Assets
   –   40,372   n/a   40,372 
                  
Liabilities
                
Forwards
   –   162,699   n/a   162,699 
Total Liabilities
   –   162,699   n/a   162,699 
                  
Unrealized currency gain
              35,474 
                 
*Net fair value
   –   (122,327)  n/a   (86,853)

*
This amount comprises of the "Net unrealized gain (loss) on open contracts", "Investments" and "Options purchased" on the Statements of Financial Condition.

 
Morgan Stanley Smith Barney Spectrum Global Balanced L.P. [Member]
  
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Spectrum Global Balanced
 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
 
Significant
Unobservable
Inputs
(Level 3)
  
 
 
 
 
Total
 
   $  $  $  $ 
Assets
                
Futures
  270,741   –   n/a   270,741 
Forwards
   –   70,236   n/a   70,236 
Total Assets
   270,741   70,236   n/a   340,977 
                  
Liabilities
                
Futures
  195,393   –   n/a   195,393 
Forwards
  –   40,258   n/a   40,258 
Options Written
   22,859    –       22,859 
Total Liabilities
    218,252    40,258   n/a   258,510 
                  
Unrealized currency gain
              876,453 
                  
*Net fair value
  52,489   29,978   n/a   958,920 

 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
 
Significant
Unobservable
Inputs
(Level 3)
  
 
 
 
 
Total
 
   $  $  $  $ 
Assets
                
Futures
  472,189   –   n/a   472,189 
Forwards
  –   20,656   n/a   20,656 
Options Purchased
   –   814   n/a   814 
Total Assets
  472,189   21,470   n/a   493,659 
                  
Liabilities
                
Futures
  137,777   –   n/a   137,777 
Forwards
   –   29,153   n/a   29,153 
Total Liabilities
  137,777   29,153   n/a   166,930 
                  
Unrealized currency gain
              894,862 
                 
*Net fair value
  334,412   (7,683)  n/a   1,221,591 

*
This amount comprises of the "Total net unrealized gain on open contracts" and "Options purchased" and "Options written" on the Statements of Financial Condition.
Morgan Stanley Smith Barney Spectrum Select L.P. [Member]
  
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Spectrum Select

 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
 
Significant
Unobservable
Inputs
(Level 3)
  
 
 
 
 
Total
 
   $  $  $  $ 
Assets
                
Futures
  7,876,474   –   n/a   7,876,474 
Forwards
   –   619,732   n/a   619,732 
Total Assets
  7,876,474   619,732   n/a   8,496,206 
                  
Liabilities
                
Futures
  4,169,335   –   n/a   4,169,335 
Forwards
   –   571,652   n/a   571,652 
Total Liabilities
  4,169,335   571,652   n/a   4,740,987 
                  
Unrealized currency loss
              (1,203,865)
*Net fair value
  3,707,139   48,080   n/a   2,551,354 

 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
 
Significant
Unobservable
Inputs
(Level 3)
  
 
 
 
 
Total
 
   $  $  $  $ 
Assets
                
Futures
  11,006,486   –   n/a   11,006,486 
Forwards
   –   729,350   n/a   729,350 
Total Assets
  11,006,486   729,350   n/a   11,735,836 
                  
Liabilities
                
Futures
  3,707,388   –   n/a   3,707,388 
Forwards
   –   322,961   n/a   322,961 
Total Liabilities
  3,707,388   322,961   n/a   4,030,349 
                  
Unrealized currency loss
              (1,303,588)
*Net fair value
  7,299,098   406,389   n/a   6,401,899 

*
This amount comprises of the "Total net unrealized gain on open contracts" on the Statements of Financial Condition.
Morgan Stanley Smith Barney Spectrum Strategic L.P. [Member]
  
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Spectrum Strategic

 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
 
Significant
Unobservable
Inputs
(Level 3)
  
 
 
 
 
Total
 
   $  $  $  $ 
Assets
                
Investment in BHM I, LLC
  –   63,045,391   n/a   63,045,391 
Investment in PGR Master Fund
  –   5,021,111   n/a   5,021,111 
Investment in MB Master Fund
  –   8,142,971   n/a   8,142,971 
Total Assets
  –   76,209,473   n/a   76,209,473 

Spectrum Strategic

 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
 
Significant
Unobservable
Inputs
(Level 3)
  
 
 
 
 
Total
 
   $  $  $  $ 
Assets
                
Investment in BHM I, LLC
  –   101,259,072   n/a   101,259,072 
Investment in PGR Master Fund
  –   9,193,011   n/a   9,193,011 
Investment in MB Master Fund
  –   8,832,023   n/a   8,832,023 
Total Assets
  –   119,284,106   n/a   119,284,106 
Morgan Stanley Smith Barney Spectrum Technical L.P. [Member]
  
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Spectrum Technical

 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
 
 Significant
Other
 Observable
 Inputs
 (Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in Blackwater Master Fund
 
 
–
 
 
 
43,685,685
 
 
 
n/a
 
 
 
43,685,685
 
Futures
 
 
4,081,355
 
 
 
–
 
 
 
n/a
 
 
 
4,081,355
 
Forwards
 
 
–
 
 
 
1,275,053
 
 
 
n/a
 
 
 
1,275,053
 
Total Assets
 
 
4,081,355
 
 
 
44,960,738
 
 
 
n/a
 
 
 
49,042,093
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
2,249,281
 
 
 
–
 
 
 
n/a
 
 
 
2,249,281
 
Forwards
 
 
 –
 
 
 
665,520
 
 
 
n/a
 
 
 
665,520
 
Total Liabilities
 
 
2,249,281
 
 
 
665,520
 
 
 
n/a
 
 
 
2,914,801
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency loss
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(3,483,151
)
*Net fair value
 
 
1,832,074
 
 
 
44,295,218
 
 
 
n/a
 
 
 
42,644,141
 


 
 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in Blackwater Master Fund
 
 
–
 
 
 
43,800,324
 
 
 
n/a
 
 
 
43,800,324
 
Futures
 
 
8,141,255
 
 
 
–
 
 
 
n/a
 
 
 
8,141,255
 
Forwards
 
 
–
 
 
 
737,671
 
 
 
n/a
 
 
 
737,671
 
Options Purchased
 
 
 1,507
 
 
 
 –
 
 
 
n/a
 
 
 
1,507
 
Total Assets
 
 
8,142,762
 
 
 
44,537,995
 
 
 
n/a
 
 
 
52,680,757
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
2,838,249
 
 
 
–
 
 
 
n/a
 
 
 
2,838,249
 
Forwards
 
 
–
 
 
 
168,277
 
 
 
n/a
 
 
 
168,277
 
Options Written
 
 
3,460
 
 
 
 –
 
 
 
n/a
 
 
 
3,460
 
Total Liabilities
 
 
2,841,709
 
 
 
168,277
 
 
 
n/a
 
 
 
3,009,986
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency gain
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2,893,771
 
*Net fair value
 
 
5,301,053
 
 
 
44,369,718
 
 
 
n/a
 
 
 
52,564,542
 

*
This amount comprises of the "Total net unrealized gain on open contracts", "Investment in Blackwater Master Fund"and "Options purchased" and "Options written" on the Statements of Financial Condition.
 
During the twelve months ended December 31, 2012 and 2011, there were no Level 3 assets and liabilities and there were no transfers of assets or liabilities between Level 1 and 2.