Related Party Transactions

6 Months Ended

Jun. 30, 2011

Related Party Transactions Disclosure [Text Block]

(3) Related Party Transactions

2011

Each Member or Member-related account is subject to an upfront, waivable placement fee of 0%-2% of the subscription price of the Units, which will be paid once by the relevant Member (not by the Series or by the Sponsor) on each of such Member’s subscriptions to the Series to UBS Financial Services Inc. (“UBS FS”), an affiliate of the Clearing Broker and former sponsor (see Note 1). The placement fee payable on such initial subscription is deducted from the subscription amount by UBS FS. Upfront placement fees of $39,153 and $104,246 and $5,340 and $13,604 for the three and six months ended June 30, 2011 and 2010, respectively, were deducted from proceeds received from the Members.

Members are subject to an ongoing sales commission paid to UBS FS and Credit Suisse Securities LLC, equal to 2% per annum of the month-end net asset value for all other purposes (see below). The Series incurred sales commissions of $709,260 and $608,460 for the six months ended June 30, 2011 and 2010, respectively, and accrued $118,772 and $98,620 owed to UBS FS and Credit Suisse Securities LLC at June 30, 2011 and 2010, respectively. UBS FS or Credit Suisse Securities LLC, in consultation with the Sponsor, may waive or reduce the sales commission for certain Members without entitling any other Member to such waiver or reduction.

Additionally, effective January 1, 2008, 0.50% of the 2.0% management fee is shared by the Trading Advisor with UBS FS (refer to Note (4) for further details on the management fee).

The Sponsor receives a monthly sponsor fee of 0.04166 of 1% (a 0.50% annual rate) of the Series’ month-end net asset value for all other purposes, including interest income, of a Member’s investment in the Series for such month. The Sponsor reserves the right to waive or reduce the fee at its sole discretion. The Series incurred Sponsor’s fees of $91,117 and $177,315 and $76,263 and $152,115 for the three and six months ended June 30, 2011 and 2010, respectively, and accrued $29,693 and $24,655 payable to the Sponsor at June 30, 2011 and 2010, respectively.

The former sponsor paid all expenses incurred in connection with the organizational and initial offering of the Units at the Series level. As described in the Series’ current Confidential Disclosure Document, the Series reimbursed the former sponsor for these costs. For financial reporting purposes in conformity with GAAP, the Series expensed the total organizational costs of $208,820 when incurred and deducted the initial offering costs of $119,732 from Members’ capital as of March 16, 2007 (the date of commencement of operations of the Series) (“net asset value for financial reporting” or the “net asset value per Unit for financial reporting”). For all other purposes, including determining the net asset value per Unit for subscription and redemption purposes, the Series amortizes organizational and initial offering costs over a 60 month period (“net asset value for all other purposes” or the “net asset value per Unit for all other purposes”).

Aspect Series Net Asset Values

The quarterly net asset value and net asset value per Unit since commencement of operations are as follows:

	Net Asset Value				Number of Units		Net Asset Value per Unit
	All Other Purposes		Financial Reporting				All Other Purposes			Financial Reporting
Price at Commencement*							$	1,000.00		$	1,000.00
March 31, 2007	$	7,805,411	$	7,479,686		7,760.62		1,005.772			963.801
June 30, 2007		13,409,546		13,100,248		11,988.08		1,118.573			1,092.773
September 30, 2007		18,932,687		18,639,817		18,241.85		1,037.871			1,021.816
December 31, 2007		16,034,264		15,757,821		14,700.02		1,090.765			1,071.959
March 31, 2008		20,507,363		20,247,348		17,025.49		1,204.509			1,189.237
June 30, 2008		50,168,558		49,924,971		40,063.82		1,252.216			1,246.136
September 30, 2008		59,013,279		58,786,119		52,463.77		1,124.839			1,120.509
December 31, 2008		71,216,262		71,005,529		53,002.45		1,343.641			1,339.665
March 31, 2009		66,062,490		65,868,185		50,663.64		1,303.950			1,300.108
June 30, 2009		48,597,098		48,419,221		43,344.52		1,121.182			1,117.074
September 30, 2009		65,446,804		65,285,354		55,797.55		1,172.933			1,170.040
December 31, 2009		59,653,082		59,508,061		52,355.78		1,139.379			1,136.609
March 31, 2010		61,712,630		61,584,035		52,710.17		1,170.792			1,168.352
June 30, 2010		58,685,934		58,573,769		50,598.99		1,159.824			1,157.607
September 30, 2010		62,864,771		62,769,033		51,344.51		1,224.372			1,222.507
December 31, 2010		63,929,433		63,850,122		50,286.04		1,271.316			1,269.739
March 31, 2011		69,735,670		69,672,788		55,107.50		1,265.448			1,264.307
June 30, 2011		70,137,681		70,091,226		57,603.59		1,217.592			1,216.786
Total return after performance fee, from the commencement of operations through the period ended June 30, 2011								21.76	%		21.68	%
* Commencement of operations of the Series was March 16, 2007