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Financial Highlights (Tables)
12 Months Ended
Dec. 31, 2016
Financial Highlights  
Schedule of financial highlights reflecting total return and relevant ratios to Partnership

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

2015

 

2014

 

 

 

 

 

 

 

 

 

Total return – Class A Units

 

(0.78)

%

(12.41)

%

6.66

%

Total return – Class B Units

 

(1.48)

%

(12.97)

%

6.07

%

Total return – Legacy 1 Class Units

 

1.41

%

(10.44)

%

8.64

%

Total return – Legacy 2 Class Units

 

1.14

%

(10.66)

%

8.55

%

Total return – Global 1 Class Units

 

2.58

%

(10.46)

%

9.34

%

Total return – Global 2 Class Units

 

2.51

%

(10.64)

%

9.14

%

Total return – Global 3 Class Units

 

0.80

%

(12.16)

%

7.46

%

Ratios as a percentage of average net assets:

 

 

 

 

 

 

 

Expenses prior to incentive fees

 

5.45

%

5.71

%

5.82

%

Incentive fees

 

0.40

%

0.97

%

2.33

%

Total expenses

 

5.85

%

6.68

%

8.15

%

Net investment loss (1)

 

(4.77)

%

(5.22)

%

(5.51)

%

 


(1)

Excludes incentive fee.

 

Schedule of per unit performance calculations activity related to the Partnership

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Class A 

 

Class B

 

Legacy 1

 

Legacy 2

 

Global 1

 

Global 2

 

Global 3

 

    

Units

    

Units

    

Class Units

    

Class Units

    

Class Units

    

Class Units

    

Class Units

Per Unit Performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(for unit outstanding throughout the entire period):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net asset value per unit at December 31, 2013

 

$

1,169.66

 

$

979.42

 

$

860.76

 

$

847.76

 

$

835.24

 

$

823.45

 

$

756.03

Income (loss) from operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net realized and change in unrealized gain (loss) from trading

 

 

168.43

 

 

140.66

 

 

125.72

 

 

115.14

 

 

126.11

 

 

117.18

 

 

110.61

Expenses net of interest income*

 

 

(90.52)

 

 

(81.24)

 

 

(51.33)

 

 

(42.64)

 

 

(48.11)

 

 

(41.94)

 

 

(54.17)

Total income (loss) from operations

 

 

77.91

 

 

59.42

 

 

74.39

 

 

72.50

 

 

78.00

 

 

75.24

 

 

56.44

Net asset value per unit at December 31, 2014

 

 

1,247.57

 

 

1,038.84

 

 

935.15

 

 

920.26

 

 

913.24

 

 

898.69

 

 

812.47

Income (loss) from operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net realized and change in unrealized gain (loss) from trading

 

 

(79.24)

 

 

(65.62)

 

 

(60.34)

 

 

(58.85)

 

 

(65.63)

 

 

(62.29)

 

 

(54.70)

Expenses net of interest income*

 

 

(75.53)

 

 

(69.09)

 

 

(37.27)

 

 

(39.22)

 

 

(29.90)

 

 

(33.37)

 

 

(44.11)

Total income (loss) from operations

 

 

(154.77)

 

 

(134.71)

 

 

(97.61)

 

 

(98.07)

 

 

(95.53)

 

 

(95.66)

 

 

(98.81)

Net asset value per unit at December 31, 2015

 

 

1,092.80

 

 

904.13

 

 

837.54

 

 

822.19

 

 

817.71

 

 

803.03

 

 

713.66

Income (loss) from operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net realized and change in unrealized

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

gain (loss) from trading

 

 

50.75

 

 

42.35

 

 

39.72

 

 

38.51

 

 

43.89

 

 

43.89

 

 

39.23

Expenses net of interest income*

 

 

(59.30)

 

 

(55.74)

 

 

(27.91)

 

 

(29.15)

 

 

(22.78)

 

 

(23.73)

 

 

(33.53)

Total income (loss) from operations

 

 

(8.55)

 

 

(13.39)

 

 

11.81

 

 

9.36

 

 

21.11

 

 

20.16

 

 

5.70

Net asset value per unit at December 31, 2016

 

$

1,084.25

 

$

890.74

 

$

849.35

 

$

831.55

 

$

838.82

 

$

823.19

 

$

719.36

 

* Expenses net of interest income per unit and organization and offering costs per unit are calculated by dividing the expenses net of interest income by the average number of units outstanding during the period. The net realized and change in unrealized gain from trading is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information.