Financial Highlights

3 Months Ended

Mar. 31, 2012

Notes to Financial Statements

Financial Highlights

NOTE E – FINANCIAL HIGHLIGHTS

Financial highlights were as follows for the three months ended March 31, 2012:

Per unit activity:	Class A Units			Class B Units			Class C Units			Class D Units †		Class E Units
Beginning net unit value at December 31, 2011	$	100.61		$	116.92		$	91.73			N/A	$	127.99
Net loss from investments in investment funds		(1.36	)		(1.59	)		(1.24	)		N/A		(1.74	)
Interest income		0.00			0.00			0.00			N/A		0.00
Total investment loss		(1.36	)		(1.59	)		(1.24	)		N/A		(1.74	)
Management & incentive fees		(0.25	)		(0.29	)		(0.17	)		N/A		0.00
Administrative fees		(0.09	)		(0.10	)		(0.02	)		N/A		(0.11	)
Other expenses		(0.86	)		(0.44	)		(0.35	)		N/A		(0.47	)
Total operating expenses		(1.20	)		(0.83	)		(0.54	)		N/A		(0.58	)
Ending unit value at March 31, 2012	$	98.05		$	114.50		$	89.95			N/A	$	125.67

^† Class D units had not yet been issued as of March 31, 2012.

These amounts were calculated based on the weighted average of monthly units outstanding by class.

	Class A Units			Class B Units			Class C Units			Class D Units		Class E Units
Net investment loss		(1.34%	)		(1.36%	)		(1.37%	)		N/A		(1.36%	)
Operating expenses		(1.20%	)		(0.71%	)		(0.58%	)		N/A		(0.45%	)
Net loss		(2.54%	)		(2.07%	)		(1.95%	)		N/A		(1.81%	)
Total return		(2.55%	)		(2.06%	)		(1.93%	)		N/A		(1.81%	)

The portfolio turnover rate for the three months ended March 31, 2012 was 0.34%. The portfolio turnover rate is a measure of the Investment Funds and futures contracts based on the positions during the current period, calculated by dividing the lesser of purchases or sales of securities, excluding securities having maturity dates at acquisition of one year or less, by the average value of the portfolio securities held during the period.

Financial highlights were as follows for the three months ended March 31, 2011:

Per unit activity:	Class A Units			Class B Units			Class C Units			Class D Units †		Class E Units
Beginning net unit value at December 31, 2010	$	115.78		$	131.86		$	102.89			N/A	$	142.91
Net income from investments in investment funds		0.98			1.11			0.87			N/A		1.20
Interest income		0.00			0.00			0.00			N/A		0.00
Total investment income		0.98			1.11			0.87			N/A		1.20
Management & incentive fees		(0.29	)		(0.33	)		(0.19	)		N/A		0.00
Administrative fees		(0.10	)		(0.12	)		(0.03	)		N/A		(0.13	)
Other expenses		(1.33	)		(0.84	)		(0.65	)		N/A		(0.92	)
Total operating expenses		(1.72	)		(1.29	)		(0.87	)		N/A		(1.05	)
Ending unit value at March 31, 2011	$	115.04		$	131.68		$	102.89			N/A	$	143.06

^† Class D Units had not yet been issued as of March 31, 2011.

These amounts were calculated based on the weighted average of monthly units outstanding by class.

	Class A Units			Class B Units			Class C Units			Class D Units		Class E Units
Net investment income		0.82%			0.81%			0.19%			N/A		0.84%
Operating expenses		(1.47%	)		(0.97%	)		(1.02%	)		N/A		(0.73%	)
Net income		(0.64%	)		(0.16%	)		(0.84%	)		N/A		0.11%
Total return		(0.63%	)		(0.14%	)		(0.01%	)		N/A		0.11%

The portfolio turnover rate for the three months ended March 31, 2011 was 9.55%. The portfolio turnover rate is a measure of the Investment Funds and futures contracts based on the positions during the current period, calculated by dividing the lesser of purchases or sales of securities, excluding securities having maturity dates at acquisition of one year or less, by the average value of the portfolio securities held during the period.