Balance Sheets (USD $)	Dec. 31, 2011	Mar. 31, 2012 Unaudited
Investments:
Investments in investment funds--at fair value--Note B (cost: $24,242,371 and $24,538,203 at March 31, 2012 and December 31, 2011, respectively)	$ 24,479,278	$ 24,442,066
Unrealized gain on futures contracts--at fair value--Note B	2,478,526	1,711,398
Total investments	26,957,804	26,153,464
Cash and cash equivalents	64,356,685	60,281,519
Other Receivables	208,440	163,017
Investment fund redemptions receivable	0	300,000
TOTAL ASSETS	91,522,929	86,898,000
LIABILITIES
Unrealized loss on futures contracts--at fair value--Note B	1,870,531	2,254,082
Trailing commissions payable	16,990	16,853
Management, incentive & administrative fees payable--Note D	89,082	88,556
Accounts payable	73,007	62,574
Managed accounts fees payable	177,888	238,725
Membership redemptions payable	2,418,269	4,838,686
Capital contributions received in advance of admission date	3,164,000	25,000
TOTAL LIABILITIES	7,809,767	7,524,476
NET ASSETS-- Note C	83,713,162	79,373,524
TOTAL LIABILITIES AND NET ASSETS	$ 91,522,929	$ 86,898,000