Fair Value Measurements and Disclosures (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Measurements and Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Partnership’s 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.

March 31, 2014	Unadjusted Quoted Prices in Active Markets  for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	$		$		$		$
Assets
Futures		791,188		–		n/a		791,188
Forwards		161,758		1,877,984		n/a		2,039,742
Total Assets		952,946		1,877,984		n/a		2,830,930
Liabilities
Futures		414,991		–		n/a		414,991
Forwards		295,187		1,720,166		n/a		2,015,353
Total Liabilities		710,178		1,720,166		n/a		2,430,344
Unrealized currency loss								(2,385,873	)
*Net fair value		242,768		157,818		n/a		(1,985,287	)

December 31, 2013	Unadjusted Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	$		$		$		$
Assets
Futures		1,306,032		–		n/a		1,306,032
Forwards		–		528,118		n/a		528,118
Total Assets		1,306,032		528,118		n/a		1,834,150
Liabilities
Futures		374,233		–		n/a		374,233
Forwards		–		296,785		n/a		296,785
Total Liabilities		374,233		296,785		n/a		671,018
Unrealized currency loss								(2,388,713	)
*Net fair value		931,799		231,333		n/a		(1,225,581	)

* This amount comprises the “Net unrealized loss on open contracts” on the Statements of Financial Condition.