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Fair Value Measurements and Disclosures (Tables)
 12 Months Ended
Dec. 31, 2012
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Spectrum Select

 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
7,876,474
 
 
 
–
 
 
 
n/a
 
 
 
7,876,474
 
Forwards
 
 
 –
 
 
 
619,732
 
 
 
n/a
 
 
 
619,732
 
Total Assets
 
 
7,876,474
 
 
 
619,732
 
 
 
n/a
 
 
 
8,496,206
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
4,169,335
 
 
 
–
 
 
 
n/a
 
 
 
4,169,335
 
Forwards
 
 
 –
 
 
 
571,652
 
 
 
n/a
 
 
 
571,652
 
Total Liabilities
 
 
4,169,335
 
 
 
571,652
 
 
 
n/a
 
 
 
4,740,987
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency loss
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1,203,865
)
*Net fair value
 
 
3,707,139
 
 
 
48,080
 
 
 
n/a
 
 
 
2,551,354
 

 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
11,006,486
 
 
 
–
 
 
 
n/a
 
 
 
11,006,486
 
Forwards
 
 
 –
 
 
 
729,350
 
 
 
n/a
 
 
 
729,350
 
Total Assets
 
 
11,006,486
 
 
 
729,350
 
 
 
n/a
 
 
 
11,735,836
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
3,707,388
 
 
 
–
 
 
 
n/a
 
 
 
3,707,388
 
Forwards
 
 
 –
 
 
 
322,961
 
 
 
n/a
 
 
 
322,961
 
Total Liabilities
 
 
3,707,388
 
 
 
322,961
 
 
 
n/a
 
 
 
4,030,349
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency loss
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1,303,588
)
*Net fair value
 
 
7,299,098
 
 
 
406,389
 
 
 
n/a
 
 
 
6,401,899
 

*
This amount comprises of the "Total net unrealized gain on open contracts" on the Statements of Financial Condition.
 
During the twelve months ended December 31, 2012 and 2011, there were no Level 3 assets and liabilities and there were no transfers of assets or liabilities between Level 1 and 2.
 
Morgan Stanley Smith Barney Spectrum Currency and Commodity L.P. [Member]
  
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The Partnerships' assets and liabilities measured at fair value on a recurring basis are summarized in the following tables by the type of inputs applicable to the fair value measurements.
 
Spectrum Currency
 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in KR Master Fund
 
 
–
 
 
 
10,109,603
 
 
 
n/a
 
 
 
10,109,603
 
Investment in Cambridge Master Fund
 
 
–
 
 
 
6,920,831
 
 
 
n/a
 
 
 
6,920,831
 
Forwards
 
 
 –
 
 
 
105,849
 
 
 
n/a
 
 
 
105,849
 
Total Assets
 
 
 –
 
 
 
17,136,283
 
 
 
n/a
 
 
 
17,136,283
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Forwards
 
 
 –
 
 
 
64,477
 
 
 
n/a
 
 
 
64,477
 
Total Liabilities
 
 
 –
 
 
 
64,477
 
 
 
n/a
 
 
 
64,477
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency gain
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,833
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*Net fair value
 
 
 –
 
 
 
17,071,806
 
 
 
n/a
 
 
 
17,073,639
 

 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Forwards
 
 
–
 
 
 
38,838
 
 
 
n/a
 
 
 
38,838
 
Options Purchased
 
 
 –
 
 
 
1,534
 
 
 
n/a
 
 
 
1,534
 
Total Assets
 
 
 –
 
 
 
40,372
 
 
 
n/a
 
 
 
40,372
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Forwards
 
 
 –
 
 
 
162,699
 
 
 
n/a
 
 
 
162,699
 
Total Liabilities
 
 
 –
 
 
 
162,699
 
 
 
n/a
 
 
 
162,699
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency gain
 
 
 
 
 
 
 
 
 
 
 
 
 
 
35,474
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*Net fair value
 
 
 –
 
 
 
(122,327
)
 
 
n/a
 
 
 
(86,853
)

*
This amount comprises of the "Net unrealized gain (loss) on open contracts", "Investments" and "Options purchased" on the Statements of Financial Condition.
 
During the twelve months ended December 31, 2012 and 2011, there were no Level 3 assets and liabilities and there were no transfers of assets or liabilities between Level 1 and 2.
 
Morgan Stanley Smith Barney Spectrum Global Balanced L.P. [Member]
  
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Spectrum Global Balanced
 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
270,741
 
 
 
–
 
 
 
n/a
 
 
 
270,741
 
Forwards
 
 
 –
 
 
 
70,236
 
 
 
n/a
 
 
 
70,236
 
Total Assets
 
 
 270,741
 
 
 
70,236
 
 
 
n/a
 
 
 
340,977
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
195,393
 
 
 
–
 
 
 
n/a
 
 
 
195,393
 
Forwards
 
 
–
 
 
 
40,258
 
 
 
n/a
 
 
 
40,258
 
Options Written
 
 
 22,859
 
 
 
 –
 
 
 
 
 
 
 
22,859
 
Total Liabilities
 
 
  218,252
 
 
 
 40,258
 
 
 
n/a
 
 
 
258,510
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency gain
 
 
 
 
 
 
 
 
 
 
 
 
 
 
876,453
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*Net fair value
 
 
52,489
 
 
 
29,978
 
 
 
n/a
 
 
 
958,920
 

 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
472,189
 
 
 
–
 
 
 
n/a
 
 
 
472,189
 
Forwards
 
 
–
 
 
 
20,656
 
 
 
n/a
 
 
 
20,656
 
Options Purchased
 
 
 –
 
 
 
814
 
 
 
n/a
 
 
 
814
 
Total Assets
 
 
472,189
 
 
 
21,470
 
 
 
n/a
 
 
 
493,659
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
137,777
 
 
 
–
 
 
 
n/a
 
 
 
137,777
 
Forwards
 
 
 –
 
 
 
29,153
 
 
 
n/a
 
 
 
29,153
 
Total Liabilities
 
 
137,777
 
 
 
29,153
 
 
 
n/a
 
 
 
166,930
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency gain
 
 
 
 
 
 
 
 
 
 
 
 
 
 
894,862
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*Net fair value
 
 
334,412
 
 
 
(7,683
)
 
 
n/a
 
 
 
1,221,591
 

*
This amount comprises of the "Total net unrealized gain on open contracts" and "Options purchased" and "Options written" on the Statements of Financial Condition.
 
During the twelve months ended December 31, 2012 and 2011, there were no Level 3 assets and liabilities and there were no transfers of assets or liabilities between Level 1 and 2.
 
Morgan Stanley Smith Barney Spectrum Strategic L.P. [Member]
  
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Spectrum Strategic

 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in BHM I, LLC
 
 
–
 
 
 
63,045,391
 
 
 
n/a
 
 
 
63,045,391
 
Investment in PGR Master Fund
 
 
–
 
 
 
5,021,111
 
 
 
n/a
 
 
 
5,021,111
 
Investment in MB Master Fund
 
 
–
 
 
 
8,142,971
 
 
 
n/a
 
 
 
8,142,971
 
Total Assets
 
 
–
 
 
 
76,209,473
 
 
 
n/a
 
 
 
76,209,473
 

Spectrum Strategic

 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in BHM I, LLC
 
 
–
 
 
 
101,259,072
 
 
 
n/a
 
 
 
101,259,072
 
Investment in PGR Master Fund
 
 
–
 
 
 
9,193,011
 
 
 
n/a
 
 
 
9,193,011
 
Investment in MB Master Fund
 
 
–
 
 
 
8,832,023
 
 
 
n/a
 
 
 
8,832,023
 
Total Assets
 
 
–
 
 
 
119,284,106
 
 
 
n/a
 
 
 
119,284,106
 
 
During the twelve months ended December 31, 2012 and 2011, there were no Level 3 assets and liabilities and there were no transfers of assets or liabilities between Level 1 and 2.
Morgan Stanley Smith Barney Spectrum Technical L.P. [Member]
  
Fair Value Measurements and Disclosures, Disclosure [Line Items]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Spectrum Technical

 
 
 
 
 
December 31, 2012
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
 
 Significant
Other
 Observable
 Inputs
 (Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in Blackwater Master Fund
 
 
–
 
 
 
43,685,685
 
 
 
n/a
 
 
 
43,685,685
 
Futures
 
 
4,081,355
 
 
 
–
 
 
 
n/a
 
 
 
4,081,355
 
Forwards
 
 
–
 
 
 
1,275,053
 
 
 
n/a
 
 
 
1,275,053
 
Total Assets
 
 
4,081,355
 
 
 
44,960,738
 
 
 
n/a
 
 
 
49,042,093
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
2,249,281
 
 
 
–
 
 
 
n/a
 
 
 
2,249,281
 
Forwards
 
 
 –
 
 
 
665,520
 
 
 
n/a
 
 
 
665,520
 
Total Liabilities
 
 
2,249,281
 
 
 
665,520
 
 
 
n/a
 
 
 
2,914,801
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency loss
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(3,483,151
)
*Net fair value
 
 
1,832,074
 
 
 
44,295,218
 
 
 
n/a
 
 
 
42,644,141
 

 
 
 
 
 
 
December 31, 2011
 
Unadjusted
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
 
Significant
Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in Blackwater Master Fund
 
 
–
 
 
 
43,800,324
 
 
 
n/a
 
 
 
43,800,324
 
Futures
 
 
8,141,255
 
 
 
–
 
 
 
n/a
 
 
 
8,141,255
 
Forwards
 
 
–
 
 
 
737,671
 
 
 
n/a
 
 
 
737,671
 
Options Purchased
 
 
 1,507
 
 
 
 –
 
 
 
n/a
 
 
 
1,507
 
Total Assets
 
 
8,142,762
 
 
 
44,537,995
 
 
 
n/a
 
 
 
52,680,757
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures
 
 
2,838,249
 
 
 
–
 
 
 
n/a
 
 
 
2,838,249
 
Forwards
 
 
–
 
 
 
168,277
 
 
 
n/a
 
 
 
168,277
 
Options Written
 
 
3,460
 
 
 
 –
 
 
 
n/a
 
 
 
3,460
 
Total Liabilities
 
 
2,841,709
 
 
 
168,277
 
 
 
n/a
 
 
 
3,009,986
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized currency gain
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2,893,771
 
*Net fair value
 
 
5,301,053
 
 
 
44,369,718
 
 
 
n/a
 
 
 
52,564,542
 

*
This amount comprises of the "Total net unrealized gain on open contracts", "Investment in Blackwater Master Fund"and "Options purchased" and "Options written" on the Statements of Financial Condition.
 
During the twelve months ended December 31, 2012 and 2011, there were no Level 3 assets and liabilities and there were no transfers of assets or liabilities between Level 1 and 2.