Balance Sheets (USD $)	Dec. 31, 2011	Dec. 31, 2010
ASSETS
Investments in investment funds--at fair value--Note B (cost: $24,538,203 and $28,822,465 at December 31, 2011 and 2010, respectively)	$ 24,479,278	$ 32,048,275
Unrealized gain on futures contracts--at fair value--Note B	2,478,526	2,928,061
Total investments	26,957,804	34,976,336
Cash and cash equivalents	64,356,685	23,358,269
Interest and Other Receivables	208,440	208,691
Investment fund redemptions receivable	0	29,645,432
Investments in transit	0	16,600,000
TOTAL ASSETS	91,522,929	104,788,728
LIABILITIES
Unrealized loss on futures contracts--at fair value--Note B	1,870,531	1,334,237
Commissions payable	16,990	23,802
Management, incentive & administrative fees payable--Note D	89,082	102,221
Accounts payable	73,007	51,300
Managed accounts fees payable	177,888	400,108
Membership redemptions payable	2,418,269	2,681,275
Capital contributions received in advance of admission date	3,164,000	521,391
TOTAL LIABILITIES	7,809,767	5,114,334
NET ASSETS-- Note C	83,713,162	99,674,394
TOTAL LIABILITIES AND NET ASSETS	$ 91,522,929	$ 104,788,728