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Financial Highlights
12 Months Ended
Dec. 31, 2018
Investment Company [Abstract]  
Financial Highlights
8.

Financial Highlights:

Financial highlights for the limited partner Classes as a whole for the years ended December 31, 2018, 2017 and 2016 were as follows:

 

     2018     2017     2016  
     Class A     Class Z     Class A     Class Z     Class A     Class Z  

Per Redeemable Unit Performance
(for a unit outstanding throughout the year):*

            

Net realized and unrealized gains (losses)

   $ (192.42   $ (75.81   $ 7.10     $ 3.30     $ 94.62     $ 35.78  

Net investment loss

     (86.93     (12.94     (102.28     (20.47     (116.82     (29.28
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Increase (decrease) for the year

     (279.35     (88.75     (95.18     (17.17     (22.20     6.50  

Net asset value per Redeemable Unit, beginning of year

     2,887.46       1,122.81       2,982.64       1,139.98       3,004.84       1,133.48  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net asset value per Redeemable Unit, end of year

   $ 2,608.11     $ 1,034.06     $ 2,887.46     $ 1,122.81     $ 2,982.64     $ 1,139.98  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     2018     2017     2016  
     Class A     Class Z     Class A     Class Z     Class A     Class Z  

Ratios to Average Limited Partners’ Capital:

            

Net investment loss**

     (3.2 )%      (1.2 )%      (3.6 )%      (1.9 )%      (3.9 )%      (2.6 )% 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating expense

     4.8     2.9     4.4     2.7     3.9     2.6

Incentive fees

     0.0 %***      0.0 %***      0.0 %***      0.0 %***      0.2     0.2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total expenses

     4.8     2.9     4.4     2.7     4.1     2.8
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total return:

            

Total return before incentive fees

     (9.7 )%      (7.9 )%      (3.2 )%      (1.5 )%      (0.5 )%      0.8

Incentive fees

     (0.0 )%***      (0.0 )%***      (0.0 )%***      (0.0 )%***      (0.2 )%      (0.2 )% 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total return after incentive fees

     (9.7 )%      (7.9 )%      (3.2 )%      (1.5 )%      (0.7 )%      0.6
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

*

Net investment loss per Redeemable Unit is calculated by dividing the interest income less total expenses by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information.

**

Interest income less total expenses.

***

Due to rounding.

The above ratios and total return may vary for individual investors based on the timing of capital transactions during the period. Additionally, these ratios are calculated for the limited partner Classes using the limited partners’ share of income, expenses and average partners’ capital of the Partnership and include the income and expenses allocated from the Funds.