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Financial Highlights (Tables)
12 Months Ended
Dec. 31, 2018
Investment Company [Abstract]  
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  

Per Redeemable Unit Performance

          

(for a unit outstanding throughout the year):*

          

Net realized and unrealized gains (losses)

   $ 45.11       $ 37.36       $ (25.71)      $ (21.15)      $ 4.16    

Net investment loss

     (55.46)        (26.64)        (66.40)        (2.92)        (78.03)   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Increase (decrease) for the year

     (10.35)        10.72         (92.11)        (24.07)        (73.87)   

Net asset value per Redeemable Unit, beginning of year

     1,162.18         953.31         1,254.29         977.38         1,328.16    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net asset value per Redeemable Unit, end of year

     $     1,151.83       $ 964.03       $ 1,162.18       $ 953.31       $ 1,254.29    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

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

Ratios to Average Limited Partners’ Capital:

          

Net investment loss****

     (4.8)      (2.8)      (5.5)      (3.6)      (6.1) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating expenses

     6.3      4.2      6.1       4.7       5.9  

Incentive fees

     0.2      0.2      0.2       -           0.4  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total expenses

     6.5      4.4      6.3       4.7       6.3  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total return:

          

Total return before incentive fees

     (0.7)      1.3      (7.1)      (2.5)      (5.2) 

Incentive fees

     (0.2)      (0.2)      (0.2)      -           (0.4) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total return after incentive fees

     (0.9)      1.1      (7.3)      (2.5)      (5.6) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

*

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 year. 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.

 

**

For the period from December 1, 2017 to December 31, 2017.

 

***

Annualized and for the period from December 1, 2017 to December 31, 2017.

 

****

Interest income less total expenses.