Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$ (1,798,627)	$ (210,528)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Purchase of net investments	0	(6,500,000)
Proceeds from disposition of investments	20,748	8,431,914
Realized loss (gain) on investments	275,084	(1,819,841)
Unrealized loss on investments	892,060	993,088
(Iincrease) decrease in redemptions receivable	(300,000)	29,558,360
Decrease in interest and other receivables	42,422	157
Decrease in investments in transit	0	16,600,000
(Decrease) increase in trailing commissions payable	(137)	1,544
(Decrease) increase in accrued operating expense	(10,433)	22,700
Increase in managed accounts fee payable	60,837	353,420
(Decrease) increase in management, incentive and administrative fees payable	(526)	5,161
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(815,572)	47,435,975
CASH FLOWS FROM FINANCING ACTIVITIES
Capital contributions received from members	867,073	4,090,847
Membership redemptions	(4,126,667)	(3,858,910)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(3,259,594)	231,937
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(4,075,166)	47,667,912
Cash and cash equivalents at beginning of period	64,356,685	23,358,270
CASH AND CASH EQUIVALENTS AT END OF PERIOD	60,281,519	71,026,182
Cash paid for interest	0	0
Cash paid for taxes	$ 0	$ 0