7. Financial Highlights

The following is the per Unit operating performance calculation and total return for the years ended December 31, 2020 and 2019:

	Class 0			Class 2
Per unit operating performance
Net asset value per Unit, December 31, 2018	$	133.70		$	96.01
Net income:
Net investment loss		(1.19	)		(1.63	)
Net gain on investments		19.53			13.97
Net income		18.34			12.34
Net asset value per Unit, December 31, 2019		152.04			108.35
Net income:
Net investment loss		(6.70	)		(3.91	)
Net gain on investments		27.72			19.79
Net income		21.02			15.88
Net asset value per Unit, December 31, 2020	$	173.06		$	124.23

The following represents ratios to average Members’ Capital, excluding the Managing Member, and total return for the years ended December 31, 2020 and 2019:

	Class 0						Class 2
	2020			2019			2020			2019

Total return before Incentive Allocation		16.33	%		13.72	%		15.64	%		12.86	%
Incentive Allocation		(2.51	)		0.00			(0.99	)		0.00
Total return after Incentive Allocation		13.82	%		13.72	%		14.65	%		12.86	%

Net investment loss before Incentive Allocation		(1.62	)%		(0.83	)%		(2.37	)%		(1.59	)%
Incentive Allocation		(2.51	)		0.00			(0.99	)		0.00
Net investment loss after Incentive Allocation		(4.13	)%		(0.83	)%		(3.36	)%		(1.59	)%

Total expenses before Incentive Allocation		2.65	%		2.83	%		3.39	%		3.58	%
Incentive Allocation		2.51			0.00			0.99			0.00
Total expenses after Incentive Allocation		5.16	%		2.83	%		4.38	%		3.58	%

Total return is calculated for Class 0 and Class 2 Units taken as a whole. Total return is calculated as the change in total Members’ Capital adjusted for subscriptions or redemptions during the year. An individual member’s return may vary from these returns based on the timing of capital transactions. The net investment loss and total expense ratios (including Incentive Allocation) are calculated for Class 0 and Class 2 Units taken as a whole and include net amounts allocated from GAIT. The computation of such ratios is based on the amount of net investment loss, expenses and Incentive Allocation. Net investment loss and total expense ratios are computed based upon the weighted average of Members’ Capital for Class 0 and Class 2 Units of the Fund for the years ended December 31, 2020 and 2019.