Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | FY | |
Trading Symbol | CK0001168990 | |
Entity Registrant Name | SUPERFUND GREEN, L.P. | |
Entity Central Index Key | 1,168,990 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | No | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 0 | |
Entity Public Float | $ 0 |
STATEMENTS OF ASSETS AND LIABIL
STATEMENTS OF ASSETS AND LIABILITIES - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||
Due from brokers | $ 6,518,057 | $ 8,221,595 |
Unrealized gain on futures contracts purchased | 492,943 | 927,412 |
Unrealized gain on futures contracts sold | 763,283 | 627,584 |
Cash | 9,619,391 | 12,702,894 |
Total assets | 17,393,674 | 22,479,485 |
LIABILITIES | ||
Unrealized loss on futures contracts purchased | 409,599 | 681,201 |
Unrealized loss on futures contracts sold | 676,201 | 154,403 |
Redemptions payable | 331,265 | 991,842 |
Management fees payable | 25,212 | 33,459 |
Fees payable | 10,657 | 16,069 |
Total liabilities | 1,452,934 | 1,876,974 |
NET ASSETS | 15,940,740 | 20,602,511 |
SERIES A | ||
ASSETS | ||
Due from brokers | 2,645,491 | 3,032,505 |
Unrealized gain on futures contracts purchased | 200,964 | 341,117 |
Unrealized gain on futures contracts sold | 297,768 | 237,325 |
Cash | 5,412,560 | 7,217,637 |
Total assets | 8,556,783 | 10,828,584 |
LIABILITIES | ||
Unrealized loss on futures contracts purchased | 166,748 | 251,096 |
Unrealized loss on futures contracts sold | 271,057 | 58,750 |
Redemptions payable | 231,618 | 591,594 |
Management fees payable | 12,549 | 16,258 |
Fees payable | 7,302 | 9,450 |
Total liabilities | 689,274 | 927,148 |
NET ASSETS | $ 7,867,509 | $ 9,901,436 |
Number of Units | 6,436.862 | 7,713.806 |
Net Asset Value per Unit | $ 1,222.26 | $ 1,283.60 |
SERIES B | ||
ASSETS | ||
Due from brokers | $ 3,872,566 | $ 5,189,090 |
Unrealized gain on futures contracts purchased | 291,979 | 586,295 |
Unrealized gain on futures contracts sold | 465,515 | 390,259 |
Cash | 4,206,831 | 5,485,257 |
Total assets | 8,836,891 | 11,650,901 |
LIABILITIES | ||
Unrealized loss on futures contracts purchased | 242,851 | 430,105 |
Unrealized loss on futures contracts sold | 405,144 | 95,653 |
Redemptions payable | 99,647 | 400,248 |
Management fees payable | 12,663 | 17,201 |
Fees payable | 3,355 | 6,619 |
Total liabilities | 763,660 | 949,826 |
NET ASSETS | $ 8,073,231 | $ 10,701,075 |
Number of Units | 5,799.188 | 7,316.097 |
Net Asset Value per Unit | $ 1,392.13 | $ 1,462.68 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Investment Income | |||
Interest income | $ 1,383 | $ 2,539 | |
Other income | 16 | ||
Total investment income | 1,383 | 2,555 | |
Expenses | |||
Selling commission | 741,291 | 954,343 | |
Brokerage commissions | 281,466 | 527,904 | |
Management fee | 342,847 | 441,384 | |
Ongoing offering expenses | 66,809 | ||
Operating expenses | 27,800 | 35,790 | |
Other | 37,116 | 18,775 | |
Total expenses | 1,430,520 | 2,045,005 | |
Net investment loss | (1,429,137) | (2,042,450) | |
Realized and unrealized gain (loss) on investments | |||
Net realized gain on futures and forward contracts | 1,146,706 | 3,929,625 | |
Net change in depreciation on futures and forward contracts | (548,962) | (98,408) | |
Net gain on investments | 597,744 | 3,831,217 | |
Net increase (decrease) in net assets from operations | (831,393) | 1,788,767 | |
SERIES A | |||
Investment Income | |||
Interest income | 477 | 966 | |
Other income | 4 | ||
Total investment income | 477 | 970 | |
Expenses | |||
Selling commission | 359,079 | 458,107 | |
Brokerage commissions | 104,897 | 206,378 | |
Management fee | 166,074 | 211,874 | |
Ongoing offering expenses | 31,599 | ||
Operating expenses | 13,466 | 17,180 | |
Other | 15,743 | 7,552 | |
Total expenses | 659,259 | 932,690 | |
Net investment loss | (658,782) | (931,720) | |
Realized and unrealized gain (loss) on investments | |||
Net realized gain on futures and forward contracts | 437,588 | 1,492,263 | |
Net change in depreciation on futures and forward contracts | (207,666) | (24,455) | |
Net gain on investments | 229,922 | 1,467,808 | |
Net increase (decrease) in net assets from operations | $ (428,860) | $ 536,088 | |
Net increase (decrease) in net assets from operations per unit (based upon weighted average number of units outstanding during year) | [1] | $ (61.12) | $ 59.08 |
Net increase (decrease) in net assets from operations per unit (based upon change in net asset value per unit during year) | $ (61.34) | $ 68.33 | |
SERIES B | |||
Investment Income | |||
Interest income | $ 906 | $ 1,573 | |
Other income | 12 | ||
Total investment income | 906 | 1,585 | |
Expenses | |||
Selling commission | 382,212 | 496,236 | |
Brokerage commissions | 176,569 | 321,526 | |
Management fee | 176,773 | 229,510 | |
Ongoing offering expenses | 35,210 | ||
Operating expenses | 14,334 | 18,610 | |
Other | 21,373 | 11,223 | |
Total expenses | 771,261 | 1,112,315 | |
Net investment loss | (770,355) | (1,110,730) | |
Realized and unrealized gain (loss) on investments | |||
Net realized gain on futures and forward contracts | 709,118 | 2,437,362 | |
Net change in depreciation on futures and forward contracts | (341,296) | (73,953) | |
Net gain on investments | 367,822 | 2,363,409 | |
Net increase (decrease) in net assets from operations | $ (402,533) | $ 1,252,679 | |
Net increase (decrease) in net assets from operations per unit (based upon weighted average number of units outstanding during year) | [2] | $ (62.42) | $ 140.27 |
Net increase (decrease) in net assets from operations per unit (based upon change in net asset value per unit during year) | $ (70.55) | $ 161.71 | |
[1] | Weighted average number of Units outstanding for Series A for the Years Ended December 31, 2015 and December 31, 2014: 7,016.95 and 9,074.29, respectively. | ||
[2] | Weighted average number of Units outstanding for Series B for the Years Ended December 31, 2015 and December 31, 2014: 6,448.63 and 8,930.45, respectively. |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities | ||
Net increase (decrease) in net assets from operations | $ (831,393) | $ 1,788,767 |
Changes in operating assets and liabilities: | ||
Decrease in due from brokers | 1,703,538 | 7,852,217 |
Decrease in futures contracts purchased | 162,867 | 432,055 |
Decrease in unrealized depreciation on open forward contracts | (44) | |
Increase (decrease) in futures contracts sold | 386,099 | (333,603) |
Decrease in management fees payable | (8,247) | (11,179) |
Decrease in fees payable | (5,412) | (36,630) |
Net cash provided by operating activities | 1,407,452 | 9,691,583 |
Cash flows from financing activities | ||
Subscriptions, net of change in advanced subscriptions | 590,041 | 978,609 |
Redemptions, net of change in redemptions payable | (5,080,996) | (9,958,196) |
Net cash used in financing activities | (4,490,955) | (8,979,587) |
Net increase (decrease) in cash | (3,083,503) | 711,996 |
Cash, beginning of year | 12,702,894 | 11,990,898 |
Cash, end of year | 9,619,391 | 12,702,894 |
SERIES A | ||
Cash flows from operating activities | ||
Net increase (decrease) in net assets from operations | (428,860) | 536,088 |
Changes in operating assets and liabilities: | ||
Decrease in due from brokers | 387,014 | 3,620,497 |
Decrease in futures contracts purchased | 55,805 | 152,224 |
Decrease in unrealized depreciation on open forward contracts | (12) | |
Increase (decrease) in futures contracts sold | 151,864 | (127,757) |
Decrease in management fees payable | (3,709) | (4,663) |
Decrease in fees payable | (2,148) | (18,019) |
Net cash provided by operating activities | 159,966 | 4,158,358 |
Cash flows from financing activities | ||
Subscriptions, net of change in advanced subscriptions | 265,984 | 577,597 |
Redemptions, net of change in redemptions payable | (2,231,027) | (4,111,637) |
Net cash used in financing activities | (1,965,043) | (3,534,040) |
Net increase (decrease) in cash | (1,805,077) | 624,318 |
Cash, beginning of year | 7,217,637 | 6,593,319 |
Cash, end of year | 5,412,560 | 7,217,637 |
SERIES B | ||
Cash flows from operating activities | ||
Net increase (decrease) in net assets from operations | (402,533) | 1,252,679 |
Changes in operating assets and liabilities: | ||
Decrease in due from brokers | 1,316,524 | 4,231,720 |
Decrease in futures contracts purchased | 107,062 | 279,831 |
Decrease in unrealized depreciation on open forward contracts | (32) | |
Increase (decrease) in futures contracts sold | 234,235 | (205,846) |
Decrease in management fees payable | (4,538) | (6,516) |
Decrease in fees payable | (3,264) | (18,611) |
Net cash provided by operating activities | 1,247,486 | 5,533,225 |
Cash flows from financing activities | ||
Subscriptions, net of change in advanced subscriptions | 324,057 | 401,012 |
Redemptions, net of change in redemptions payable | (2,849,969) | (5,846,559) |
Net cash used in financing activities | (2,525,912) | (5,445,547) |
Net increase (decrease) in cash | (1,278,426) | 87,678 |
Cash, beginning of year | 5,485,257 | 5,397,579 |
Cash, end of year | $ 4,206,831 | $ 5,485,257 |
STATEMENTS OF OPERATIONS (Paren
STATEMENTS OF OPERATIONS (Parenthetical) - shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
SERIES A | ||
Weighted average number of Units outstanding | 7,016.95 | 9,074.29 |
SERIES B | ||
Weighted average number of Units outstanding | 6,448.63 | 8,930.45 |
Nature of Operations
Nature of Operations | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Nature of Operations | (1) Nature of Operations Organization and Business Superfund Green, L.P. (the “Fund”), a Delaware limited partnership, commenced operations on November 5, 2002. The Fund was organized to trade speculatively in the United States of America (“U.S.”) and international commodity futures markets using a fully-automated computerized trading system. The Fund has issued two classes of Units, Series A and Series B (the “Series”). The two Series are traded and managed the same way except for the degree of leverage. The term of the Fund shall continue until December 31, 2050, unless terminated earlier by the Fund’s general partner, Superfund Capital Management, Inc. (“Superfund Capital Management”), or by operation of law or a decline in the aggregate net assets of such Series to less than $500,000. |
Basis of Presentation and Signi
Basis of Presentation and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | (2) Basis of Presentation and Significant Accounting Policies (a) Basis of Presentation Pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”), audited financial statements are prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and presented for the Fund as a whole, as the SEC registrant, and for Series A and Series B individually. For the avoidance of doubt, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series shall be enforceable only against the assets of such Series and not against the assets of the Fund generally or any other Series. Accordingly, the assets of one Series of the Fund include only those funds and other assets that are paid to, held by or distributed to the Fund on account of and for the benefit of that Series, including, without limitation, funds delivered to the Fund for the purchase of Units in that Series. (b) Valuation of Investments in Futures Contracts and Forward Contracts All commodity interests (including derivative financial instruments and derivative commodity instruments) are used for trading purposes. The commodity interests are recorded on a trade date basis and open contracts are recorded in the statements of assets and liabilities at fair value on the last business day of the period, which represents market value for those commodity interests for which market quotes are readily available. Exchange-traded futures contracts are valued at settlement prices published by the recognized exchange. Any spot and forward foreign currency contracts held by the Fund will be valued at published settlement prices or at dealers’ quotes. (c) Cash and Translation of Foreign Currency The Fund maintains cash deposits with financial institutions in amounts that are in excess of the coverage limits adopted by the Federal Deposit Insurance Corporation. The Fund does not, however, believe it is exposed to significant credit risk on these holdings. Assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the period end exchange rates. Purchases and sales of investments and income and expenses that are denominated in foreign currencies are translated into U.S. dollar amounts on the transaction date. Adjustments arising from foreign currency transactions are reflected in the statements of operations. The Fund does not isolate that portion of the results of operations arising from the effect of changes in foreign exchange rates on investments from fluctuations from changes in market prices of investments held. Such fluctuations are included in net realized and unrealized gain (loss) on investments in the statements of operations. (d) Investment Transactions, Investment Income and Expenses Investment transactions are accounted for on a trade-date basis. Interest income and expenses are recognized on the accrual basis. Operating expenses of the Fund are allocated to each Series in proportion to the net asset value of the Series at the beginning of each month. Expenses directly attributable to a particular Series are charged directly to that Series. Gains or losses are realized when contracts are liquidated. Unrealized gains and losses on open contracts (the difference between contract trade price and market price) are reported in the statements of assets and liabilities as gross gain or loss. There exists a right of offset of unrealized gains or losses in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 210-20, Offsetting – Balance Sheet Set forth herein are instruments and transactions eligible for offset in the Statements of Assets and Liabilities and which are subject to derivative clearing agreements with the Fund’s futures commission merchants. Each futures commission merchant nets margin held on behalf of each Series of the Fund or payment obligations of the futures commission merchant to each Series against any payment obligations of that Series to the futures commission merchant. Each Series is required to deposit margin at each futures commission merchant to meet the original and maintenance requirements established by that futures commission merchant, and/or the exchange or clearinghouse associated with the exchange on which the instrument is traded. The derivative clearing agreements give each futures commission merchant a security interest in this margin to secure any liabilities owed to the futures commission merchant arising from a default by the Series. As of December 31, 2015, Series A had on deposit $1,489,488 at ADM Investor Services, Inc. and $1,156,003 at Merrill Lynch, Pierce, Fenner & Smith Inc. As of December 31, 2015, Series B had on deposit $2,009,575 at ADM Investor Services, Inc. and $1,862,991 at Merrill Lynch, Pierce, Fenner & Smith Inc. (e) Income Taxes The Fund does not record a provision for U.S. income taxes because the partners report their share of the Fund’s income or loss on their returns. The financial statements reflect the Fund’s transactions without adjustment, if any, required for income tax purposes. Superfund Capital Management has evaluated the application of ASC 740, Income Taxes (f) Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. (g) Recently Adopted and/or Issued Accounting Pronouncements ASU 2013-08 In June 2013, FASB issued Accounting Standards Update (“ASU”) No. 2013-08, Amendments to the Scope, Measurement, and Disclosure Requirements ASU 2015-14 In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606) – Deferral of Effective Date (“ASU 2015-14”), No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 ASU 2015-14 (h) Fair Value Measurements The Fund follows ASC 820, Fair Value Measurements and Disclosures Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Quoted prices in markets that are not considered to be active or financial instruments for which all significant inputs are observable, either directly or indirectly. Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. In determining fair value, the Fund separates its financial instruments into two categories: U.S. government securities and derivative contracts. Derivative Contracts. OTC derivatives are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, model calibration to market-clearing transactions, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. Where models are used, the selection of a particular model to value an OTC derivative depends upon the contractual terms of, and specific risks inherent in, the instrument as well as the availability of pricing information in the market. For OTC derivatives that trade in liquid markets, such as generic forwards and swaps, model inputs can generally be verified and model selection does not involve significant management judgment. The OTC derivatives held by the Fund may include forwards and swaps. Spot and forward foreign currency contracts held by the Fund are valued at published daily settlement prices or at dealers’ quotes. The Fund’s forward and swap positions are typically classified within level 2 of the fair value hierarchy. Certain OTC derivatives traded in less liquid markets with limited pricing information, and the determination of fair value for these derivatives is inherently more difficult. Such instruments are classified within level 3 of the fair value hierarchy. Where the Fund does not have corroborating market evidence to support significant model inputs and cannot verify the model to market transactions, transaction price is initially used as the best estimate of fair value. Accordingly, when a pricing model is used to value such an instrument, the model is adjusted so that the model value at inception equals the transaction price. The valuations of these less liquid OTC derivatives are typically based on level 1 and/or level 2 inputs that can be observed in the market, as well as unobservable level 3 inputs. Subsequent to initial recognition, the Fund updates the level 1 and level 2 inputs to reflect observable market changes, with resulting gains and losses reflected within level 3. Level 3 inputs are only changed when corroborated by evidence such as similar market transactions, third-party pricing services and/or broker or dealer quotations, or other empirical market data. In circumstances where the Fund cannot verify the model value to market transactions, it is possible that a different valuation model could produce a materially different estimate of fair value. The Fund attempts to avoid holding less liquid OTC derivatives. However, once held, the market for any particular derivative contract could become less liquid during the holding period. There were no Level 3 holdings at December 31, 2015 or December 31, 2014 or during the periods then ended. The following table summarizes the valuation of the Fund’s assets and liabilities measured at fair value on a recurring basis by the ASC 820 fair value hierarchy as of December 31, 2015: Superfund Green, L.P. Balance December 31, 2015 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 763,283 $ 763,283 $ — $ — Futures contracts purchased 492,943 492,943 — — Total Assets Measured at Fair Value $ 1,256,226 $ 1,256,226 $ — $ — LIABILITIES Futures contracts sold $ 676,201 $ 676,201 $ — $ — Futures contracts purchased 409,599 409,599 — — Total Liabilities Measured at Fair Value $ 1,085,800 $ 1,085,800 $ — $ — Superfund Green, L.P. – Series A Balance December 31, 2015 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 297,768 $ 297,768 $ — $ — Futures contracts purchased 200,964 200,964 — — Total Assets Measured at Fair Value $ 498,732 $ 498,732 $ — $ — LIABILITIES Futures contracts sold $ 271,057 $ 271,057 $ — $ — Futures contracts purchased 166,748 166,748 — — Total Liabilities Measured at Fair Value $ 437,805 $ 437,805 $ — $ — S uperfund Green, L.P. – Series B Balance December 31, 2015 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 465,515 $ 465,515 $ — $ — Futures contracts purchased 291,979 291,979 — — Total Assets Measured at Fair Value $ 757,494 $ 757,494 $ — $ — LIABILITIES Futures contracts sold $ 405,144 $ 405,144 $ — $ — Futures contracts purchased 242,851 242,851 — — Total Liabilities Measured at Fair Value $ 647,995 $ 647,995 $ — $ — The following table summarizes the valuation of the Fund’s assets and liabilities measured at fair value on a recurring basis by the ASC 820 fair value hierarchy as of December 31, 2014: Superfund Green, L.P. Balance December 31, 2014 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 627,584 $ 627,584 $ — $ — Futures contracts purchased 927,412 927,412 — — Total Assets Measured at Fair Value $ 1,554,996 $ 1,554,996 $ — $ — LIABILITIES Futures contracts sold $ 154,403 $ 154,403 $ — $ — Futures contracts purchased 681,201 681,201 — — Total Liabilities Measured at Fair Value $ 835,604 $ 835,604 $ — $ — Superfund Green, L.P. – Series A Balance December 31, 2014 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 237,325 $ 237,325 $ — $ — Futures contracts purchased 341,117 341,117 — — Total Assets Measured at Fair Value $ 578,442 $ 578,442 $ — $ — LIABILITIES Futures contracts sold $ 58,750 $ 58,750 $ — $ — Futures contracts purchased 251,096 251,096 — — Total Liabilities Measured at Fair Value $ 309,846 $ 309,846 $ — $ — Superfund Green, L.P. – Series B Balance December 31, 2014 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 390,259 $ 390,259 $ — $ — Futures contracts purchased 586,295 586,295 — — Total Assets Measured at Fair Value $ 976,554 $ 976,554 $ — $ — LIABILITIES Futures contracts sold $ 95,653 $ 95,653 $ — $ — Futures contracts purchased 430,105 430,105 — — Total Liabilities Measured at Fair Value $ 525,758 $ 525,758 $ — $ — For the years ended December 31, 2015 and 2014, there were no transfers between Level 1 and Level 2 assets and liabilities. |
Disclosure of Derivative Instru
Disclosure of Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Disclosure of Derivative Instruments and Hedging Activities | (3) Disclosure of derivative instruments and hedging activities The Fund follows ASC 815, Disclosures about Derivative Instruments and Hedging Activities Derivative instruments held by the Fund do not qualify as derivative instruments held as hedging instruments, as defined in ASC 815. Instead, the Fund includes derivative instruments in its trading activity. Per the requirements of ASC 815, the Fund discloses the gains and losses on its trading activities for both derivative and nonderivative instruments in the Statement of Operations for each Series. The Fund engages in the speculative trading of forward contracts in currency and futures contracts in a wide range of commodities, including equity markets, interest rates, food and fiber, energy, livestock and metals. ASC 815 requires entities to recognize all derivatives instruments as either assets or liabilities at fair value in the statement of financial position. Investments in forward contracts and commodity futures contracts are recorded in the Statements of Assets and Liabilities as “unrealized appreciation or depreciation on open forward contracts and futures contracts purchased and futures contracts sold.” Since the derivatives held or sold by the Fund are for speculative trading purposes, the derivative instruments are not designated as hedging instruments under the provisions of ASC 815. Accordingly, all realized gains and losses, as well as any change in net unrealized gains or losses on open positions from the preceding period, are recognized as part of the Fund’s realized and unrealized gain (loss) on investments in the Statements of Operations. Superfund Capital Management believes futures and forward unrealized gains and losses expressed as a percentage of net assets is indicative of trading activity. Information concerning the fair value of the Fund’s derivatives held long or sold short, as well as information related to the annual average volume of the Fund’s derivative activity, is as follows: Superfund Green, L.P. The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2015, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 492,943 $ (409,599 ) $ 83,344 Futures contracts Futures contracts sold 763,283 (676,201 ) 87,082 Totals $ 1,256,226 $ (1,085,800 ) $ 170,426 The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2014, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 927,412 $ (681,201 ) $ 246,211 Futures contracts Futures contracts sold 627,584 (154,403 ) 473,181 Totals $ 1,554,996 $ (835,604 ) $ 719,392 The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2015 is as follows: Gross Amounts Not Offset in the Statement of Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ (100,889 ) $ — $ — $ (100,889 ) Merrill Lynch 271,315 — — 271,315 Totals $ 170,426 $ — $ — $ 170,426 The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2014 is as follows: Gross Amounts Not Offset in the Counterparty Net Amount of Assets in Financial Instruments Cash Net ADMIS $ 74,729 $ — $ — $ 74,729 Barclays Capital 594,459 — — 594,459 Merrill Lynch 50,204 — — 50,204 Totals $ 719,392 $ — $ — $ 719,392 Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2015: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement of Operations Net Realized Gain on Net Change in Foreign exchange contracts Net realized/unrealized gain on futures and forward contracts $ 52,987 $ — Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 1,093,719 (548,962 ) Total $ 1,146,706 $ (548,962 ) Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2014: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement of Operations Net Realized Gain (Loss) Net Change in Foreign exchange contracts Net realized/unrealized gain (loss) on futures and forward contracts $ (188,573 ) $ 44 Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 4,118,198 (98,452 ) Total $ 3,929,625 $ (98,408 ) Superfund Green, L.P. gross and net unrealized gains and losses by long and short positions as of December 31, 2015: As of December 31, 2015 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 25,804 0.2 $ (73,662 ) (0.5 ) $ 95,399 0.6 $ (146,664 ) (0.9 ) $ (99,123 ) Financial 78,150 0.5 (3,785 ) (0.0 )* 4,821 0.0 * (39,609 ) (0.2 ) 39,577 Food & Fiber 64,490 0.4 (176,698 ) (1.1 ) 182,433 1.1 (40,083 ) (0.3 ) 30,142 Indices 211,901 1.3 (113,401 ) (0.7 ) 199,752 1.3 (121,726 ) (0.8 ) 176,526 Metals 51,982 0.3 (30,003 ) (0.2 ) 47,150 0.3 (158,223 ) (1.0 ) (89,094 ) Livestock 17,990 0.1 — — — — (20,560 ) (0.1 ) (2,570 ) Energy 42,626 0.3 (12,050 ) (0.1 ) 233,728 1.5 (149,336 ) (0.9 ) 114,968 Totals $ 492,943 3.1 $ (409,599 ) (2.6 ) $ 763,283 4.8 $ (676,201 ) (4.2 ) $ 170,426 * Due to rounding – amount is less than 0.05% Superfund Green, L.P. gross and net unrealized gains and losses by long and short positions as of December 31, 2014: As of December 31, 2014 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 2,110 0.0 * $ — — $ 79,895 0.4 $ (256 ) (0.0 )* $ 81,749 Financial 516,998 2.4 (25,961 ) (0.1 ) — — (12,202 ) (0.1 ) 478,835 Food & Fiber 36,790 0.2 (89,576 ) (0.4 ) 107,005 0.5 (32,364 ) (0.1 ) 21,855 Indices 312,439 1.4 (18,099 ) (0.1 ) 3,205 0.0 * (104,506 ) (0.5 ) 193,039 Metals 55,851 0.3 (174,000 ) (0.8 ) 219,636 1.0 (5,075 ) (0.0 )* 96,412 Livestock 3,090 0.0 * (213,200 ) (1.0 ) — — — — (210,110 ) Energy 134 0.0 * (160,365 ) (0.7 ) 217,843 1.0 — — 57,612 Totals $ 927,412 4.3 $ (681,201 ) (3.1 ) $ 627,584 2.9 $ (154,403 ) (0.7 ) $ 719,392 * Due to rounding – amount is less than 0.05% Superfund Green, L.P. average contract volume by market sector for the Year Ended December 31, 2015: Average Number Average Number Currency 164 891 Financial 3,441 1,247 Food & Fiber 1,339 1,470 Indices 2,675 2,244 Metals 975 978 Energy 540 926 Livestock 382 83 Total 9,516 7,839 Superfund Green, L.P. average contract volume by market sector for the Year Ended December 31, 2014: Average Number Average Number Currency 2,441 1,447 Financial 11,912 2,168 Food & Fiber 622 788 Indices 6,994 1,205 Metals 2,250 1,370 Energy 1,579 694 Livestock 462 8 Total 26,260 7,680 Superfund Green, L.P. trading results by market sector: For the Year Ended December 31, 2015 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ 52,987 $ — $ 52,987 Currency 295,019 (180,869 ) 114,150 Financial (304,154 ) (439,256 ) (743,410 ) Food & Fiber (315,150 ) 8,287 (306,863 ) Indices 436,090 (16,514 ) 419,576 Metals 407,307 (185,506 ) 221,801 Livestock (824,090 ) 207,540 (616,550 ) Energy 1,398,697 57,356 1,456,053 Total net trading gains (losses) in Statement of Operations $ 1,146,706 $ (548,962 ) $ 597,744 For the Year Ended December 31, 2014 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Gains (Losses) Foreign Exchange $ (188,573 ) $ 44 $ (188,529 ) Currency 553,145 (71,300 ) 481,845 Financial 2,466,259 331,672 2,797,931 Food & Fiber 931,647 (21,741 ) 909,906 Indices 906,369 (399,926 ) 506,443 Metals (658,725 ) 56,482 (602,243 ) Livestock 553,240 (192,740 ) 360,500 Energy (633,737 ) 199,101 (434,636 ) Total net trading gains (losses)in Statement of Operations $ 3,929,625 $ (98,408 ) $ 3,831,217 Superfund Green, L.P. - Series A The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2015, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 200,964 $ (166,748 ) $ 34,216 Futures contracts Futures contracts sold 297,768 (271,057 ) 26,711 Totals $ 498,732 $ (437,805 ) $ 60,927 The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2014, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 341,117 $ (251,096 ) $ 90,021 Futures contracts Futures contracts sold 237,325 (58,750 ) 178,575 Totals $ 578,442 $ (309,846 ) $ 268,596 The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2015 is as follows: Gross Amounts Not Offset in the Statement of Assets and Liabilities Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ (51,324 ) $ — $ — $ (51,324 ) Merrill Lynch 112,251 — — 112,251 Totals $ 60,927 $ — $ — $ 60,927 The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2014 is as follows: Gross Amounts Not Offset in the Statement of Assets and Liabilities Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ 29,364 $ — $ — $ 29,364 Barclays Capital 221,708 — — 221,708 Merrill Lynch 17,524 — — 17,524 Totals $ 268,596 $ — $ — $ 268,596 Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2015: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement of Operations Net Realized Gain on Net Change in Foreign exchange contracts Net realized/unrealized gain on futures and forward contracts $ 18,553 $ — Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 419,035 (207,666 ) Total $ 437,588 $ (207,666 ) Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2014: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement of Operations Net Realized Gain (Loss) Net Change in Unrealized Appreciation Foreign exchange contracts Net realized/unrealized gain (loss) on futures and forward contracts $ (80,609 ) $ 12 Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 1,572,872 (24,467 ) Total $ 1,492,263 $ (24,455 ) Superfund Green, L.P. – Series A gross and net unrealized gains and losses by long and short positions as of December 31, 2015: As of December 31, 2015 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 10,300 0.1 $ (30,119 ) (0.4 ) $ 37,040 0.5 $ (59,172 ) (0.8 ) $ (41,951 ) Financial 31,941 0.4 (1,525 ) (0.0 )* 4,486 0.1 (15,994 ) (0.2 ) 18,908 Food & Fiber 24,650 0.3 (71,684 ) (0.9 ) 73,127 0.9 (18,694 ) (0.2 ) 7,399 Indices 86,482 1.1 (46,035 ) (0.6 ) 80,284 1.0 (46,578 ) (0.6 ) 74,153 Metals 19,838 0.3 (12,445 ) (0.2 ) 18,053 0.2 (62,758 ) (0.8 ) (37,312 ) Livestock 8,080 0.1 — — — — (7,490 ) (0.1 ) 590 Energy 19,673 0.3 (4,940 ) (0.1 ) 84,778 1.1 (60,371 ) (0.8 ) 39,140 Totals $ 200,964 2.6 $ (166,748 ) (2.2 ) $ 297,768 3.8 $ (271,057 ) (3.5 ) $ 60,927 * Due to rounding – amount is less than 0.05% Superfund Green, L.P. – Series A gross and net unrealized gains and losses by long and short positions as of December 31, 2014: As of December 31, 2014 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ — — $ — — $ 29,064 0.3 $ (256 ) (0.0 )* $ 28,808 Financial 194,235 1.9 (9,820 ) (0.1 ) — — (4,331 ) (0.0 )* 180,084 Food & Fiber 15,355 0.1 (28,710 ) (0.3 ) 41,104 0.4 (13,563 ) (0.1 ) 14,186 Indices 108,901 1.0 (6,751 ) (0.1 ) 735 0.0 * (38,485 ) (0.4 ) 64,400 Metals 20,662 0.2 (67,465 ) (0.6 ) 85,212 0.8 (2,115 ) (0.0 )* 36,294 Livestock 1,830 0.0 * (80,300 ) (0.8 ) — — — — (78,470 ) Energy 134 0.0 * (58,050 ) (0.6 ) 81,210 0.8 — — 23,294 Totals $ 341,117 3.2 $ (251,096 ) (2.5 ) $ 237,325 2.3 $ (58,750 ) (0.5 ) $ 268,596 * Due to rounding – amount is less than 0.05% Series A average contract volume by market sector for the Year Ended December 31, 2015: Average Number Average Number Currency 65 341 Financial 1,298 499 Food & Fiber 518 569 Indices 1,003 863 Metals 363 401 Energy 196 352 Livestock 144 31 Total 3,587 3,056 Series A average contract volume by market sector for the Year Ended December 31, 2014: Average Number Average Number Currency 946 554 Financial 4,639 866 Food & Fiber 234 297 Indices 2,652 461 Metals 858 506 Energy 588 260 Livestock 175 4 Total 10,092 2,948 Series A trading results by market sector: For the Year Ended December 31, 2015 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ 18,553 $ — $ 18,553 Currency 98,047 (70,757 ) 27,290 Financial (114,684 ) (161,174 ) (275,858 ) Food & Fiber (116,317 ) (6,787 ) (123,104 ) Indices 134,349 9,752 144,101 Metals 182,959 (73,606 ) 109,353 Livestock (316,020 ) 79,060 (236,960 ) Energy 550,701 15,846 566,547 Total net trading gains (losses) in Statement of Operations $ 437,588 $ (207,666 ) $ 229,922 For the Year Ended December 31, 2014 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ (80,609 ) $ 12 $ (80,597 ) Currency 195,186 (26,328 ) 168,858 Financial 930,635 118,008 1,048,643 Food & Fiber 351,617 (3,741 ) 347,876 Indices 404,768 (154,913 ) 249,855 Metals (225,439 ) 32,690 (192,749 ) Livestock 193,790 (71,850 ) 121,940 Energy (277,685 ) 81,667 (196,018 ) Total net trading gains (losses) in Statement of Operations $ 1,492,263 $ (24,455 ) $ 1,467,808 Superfund Green, L.P. – Series B The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2015, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 291,979 $ (242,851 ) $ 49,128 Futures contracts Futures contracts sold 465,515 (405,144 ) 60,371 Totals $ 757,494 $ (647,995 ) $ 109,499 The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2014, is as follows: Type of Instrument Statement of Assets and Asset Derivatives at Liability Derivatives at Net Futures contracts Futures contracts purchased $ 586,295 $ (430,105 ) $ 156,190 Futures contracts Futures contracts sold 390,259 (95,653 ) 294,606 Totals $ 976,554 $ (525,758 ) $ 450,796 The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2015 is as follows: Gross Amounts Not Offset in the Statement Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ (49,565 ) $ — $ — $ (49,565 ) Merrill Lynch 159,064 — — 159,064 Totals $ 109,499 $ — $ — $ 109,499 The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2014 is as follows: Gross Amounts Not Offset in the Statement Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ 45,365 $ — $ — $ 45,365 Barclays Capital 372,751 — — 372,751 Merrill Lynch 32,680 — — 32,680 Totals $ 450,796 $ — $ — $ 450,796 Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2015: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Net Realized Gain on Derivatives in Statement Operations Net Change in Foreign exchange contracts Net realized/unrealized gain on futures and $ 34,434 $ — Futures contracts Net realized/unrealized 674,684 (341,296 ) Total $ 709,118 $ (341,296 ) Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2014: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement Operations Net Realized Gain (Loss) Net Change in Foreign exchange contracts Net realized/unrealized gain (loss) on futures and forward contracts $ (107,964 ) $ 32 Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 2,545,326 (73,985 ) Total $ 2,437,362 $ (73,953 ) Superfund Green, L.P. – Series B gross and net unrealized gains and losses by long and short positions as of December 31, 2015: As of December 31, 2015 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 15,504 0.2 $ (43,543 ) (0.5 ) $ 58,359 0.7 $ (87,492 ) (1.1 ) $ (57,172 ) Financial 46,209 0.6 (2,260 ) (0.0 )* 335 0.0 * (23,615 ) (0.3 ) 20,669 Food & Fiber 39,840 0.5 (105,014 ) (1.3 ) 109,306 1.4 (21,389 ) (0.3 ) 22,743 Indices 125,419 1.6 (67,366 ) (0.8 ) 119,468 1.5 (75,148 ) (0.9 ) 102,373 Metals 32,144 0.4 (17,558 ) (0.2 ) 29,097 0.4 (95,465 ) (1.2 ) (51,782 ) Livestock 9,910 0.1 — — — — (13,070 ) (0.2 ) (3,160 ) Energy 22,953 0.3 (7,110 ) (0.1 ) 148,950 1.8 (88,965 ) (1.1 ) 75,828 Totals $ 291,979 3.6 $ (242,851 ) (2.9 ) $ 465,515 5.8 $ (405,144 ) (5.1 ) $ 109,499 * Due to rounding – amount is less than 0.05% Superfund Green, L.P. – Series B gross and net unrealized gains and losses by long and short positions as of December 31, 2014: As of December 31, 2014 Futures Contracts Purchased Futures Contacts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 2,110 0.0 * $ — — $ 50,831 0.5 $ — — $ 52,941 Financial 322,763 2.9 (16,141 ) (0.1 ) — — (7,871 ) (0.1 ) 298,751 Food & Fiber 21,435 0.2 (60,866 ) (0.5 ) 65,901 0.6 (18,801 ) (0.2 ) 7,669 Indices 203,538 1.8 (11,348 ) (0.1 ) 2,470 0.0 * (66,021 ) (0.6 ) 128,639 Metals 35,189 0.3 (106,535 ) (1.0 ) 134,424 1.2 (2,960 ) (0.0 )* 60,118 Livestock 1,260 0.0 * (132,900 ) (1.2 ) — — — — (131,640 ) Energy — — (102,315 ) (0.9 ) 136,633 1.2 — — 34,318 Totals $ 586,295 5.2 $ (430,105 ) (3.8 ) $ 390,259 3.5 $ (95,653 ) (0.9 ) $ 450,796 * Due to rounding – amount is less than 0.05% Series B average contract volume by market sector for the Year Ended December 31, 2015: Average Number Average Number Currency 99 550 Financial 2,143 748 Food & Fiber 821 901 Indices 1,672 1,381 Metals 612 577 Energy 344 574 Livestock 238 52 Total 5,929 4,783 Series B average contract volume by market sector for the Year Ended December 31, 2014: Average Number Average Number Currency 1,495 893 Financial 7,273 1,302 Food & Fiber 388 491 Indices 4,342 744 Metals 1,392 864 Energy 991 434 Livestock 287 4 Total 16,168 4,732 Series B trading results by market sector: For the Year Ended December 31, 2015 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ 34,434 $ — $ 34,434 Currency 196,972 (110,112 ) 86,860 Financial (189,470 ) (278,082 ) (467,552 ) Food & Fiber (198,833 ) 15,074 (183,759 ) Indices 301,741 (26,266 ) 275,475 Metals 224,348 (111,900 ) 112,448 Livestock (508,070 ) 128,480 (379,590 ) Energy 847,996 41,510 889,506 Total net trading gains (losses) in Statement of Operations $ 709,118 $ (341,296 ) $ 367,822 For the Year Ended December 31, 2014 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ (107,964 ) $ 32 $ (107,932 ) Currency 357,959 (44,972 ) 312,987 Financial 1,535,624 213,664 1,749,288 Food & Fiber 580,030 (18,000 ) 562,030 Indices 501,601 (245,013 ) 256,588 Metals (433,286 ) 23,792 (409,494 ) Livestock 359,450 (120,890 ) 238,560 Energy (356,052 ) 117,434 (238,618 ) Total net trading gains (losses) in Statement of Operations $ 2,437,362 $ (73,953 ) $ 2,363,409 |
Due from_to Brokers
Due from/to Brokers | 12 Months Ended |
Dec. 31, 2015 | |
Brokers and Dealers [Abstract] | |
Due from/to Brokers | (4) Due from/to Brokers Due from brokers consist of proceeds from securities sold. Amounts due from brokers may be restricted to the extent that they serve as deposits for securities sold short. Amounts due to brokers represent margin borrowings that are collateralized by certain securities. As of December 31, 2015, there were no amounts due to brokers. In the normal course of business, all of the Fund’s marketable securities transactions, money balances and marketable security positions are transacted with brokers. The Fund is subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. |
Allocation of Net Profits and L
Allocation of Net Profits and Losses | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Allocation of Net Profits and Losses | (5) Allocation of Net Profits and Losses In accordance with the Sixth Amended and Restated Limited Partnership Agreement, net profits and losses of the Fund are allocated to partners according to their respective interests in the Fund as of the beginning of each month. Subscriptions received in advance, if any, represent cash received prior to December 31 for contributions of the subsequent month and do not participate in the earnings of the Fund until the following January. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | (6) Related Party Transactions Superfund Capital Management shall be paid a management fee equal to one-twelfth of 1.85% of month-end net assets (1.85% per annum) of net assets, and monthly operating expenses equal to one-twelfth of 0.15% of month-end net assets (0.15% per annum), not to exceed the amount of actual expenses incurred. Superfund Capital Management will also be paid a monthly performance/incentive fee equal to 25% of the new appreciation without respect to interest income. Trading losses will be carried forward and no further performance/incentive fee may be paid until the prior losses have been recovered. In addition, Superfund Brokerage Services, Inc., an affiliate of Superfund Capital Management, serves as the introducing broker for the Fund’s futures transactions and receives a portion of the brokerage commissions paid by the Fund in connection with its futures trading. Superfund USA, an entity related to Superfund Capital Management by common ownership, shall be paid monthly selling commissions equal to one-twelfth of 4% (4% per annum) of the month-end net asset value of the Fund. However, the maximum cumulative selling commission per Unit is limited to 10% of the initial public offering price of Units sold. Selling commissions charged as of the end of each month in excess of 10% of the initial public offering price of Units sold shall not be paid out to any selling agent but shall instead be held in a separate account. Accrued monthly performance fees, if any, will then be charged against both net assets of the Fund as of month-end, as well as against amounts held in the separate account. Any increase or decrease in net assets and any accrued interest will then be credited or charged to each investor (a “Limited Partner”) on a pro rata basis. The remainder of the amounts held in the separate account, if any, shall then be reinvested in Units as of such month-end, at the current net asset value, for the benefit of the appropriate Limited Partner. The amount of any distribution to a Limited Partner, any amount paid to a Limited Partner on redemption of Units and any redemption fee paid to Superfund Capital Management upon the redemption of Units will be charged to that Limited Partner. Selling commissions are shown gross on the statement of operations and amounts over the 10% selling commission threshold are rebated to the Limited Partner by purchasing Units of the Fund. For the year ended December 31, 2015, rebated selling commissions amounted to $265,984 for Series A and $324,055 for Series B. As of December 31, 2015, Superfund Capital Management owned 178.298 Units of Series A, representing 2.77% of the total issued Units of Series A, and 204.874 Units of Series B, representing 3.53% of the total issued Units of Series B, having a combined value of $505,377. Gains allocated to Units of Series A and Series B owned by Superfund Capital Management were $34,698 for the year ended December 31, 2015. Selling commissions over the 10% threshold in the amount of $11,695 were rebated to Superfund Capital Management during this period through the purchase of 8.087 Units of Series B. As of December 31, 2014, Superfund Capital Management owned 178.298 Units of Series A, representing 2.2% of the total issued Units of Series A, and 196.786 Units of Series B, representing 2.6% of the total issued Units of Series B, having a combined value of $519,069. Gains allocated to Units of Series A and Series B owned by Superfund Capital Management were $22,255 for the year ended December 31, 2014. Selling commissions over the 10% threshold in the amount of $11,190 were rebated to Superfund Capital Management during this period through the purchase of 8.488 Units of Series B. Superfund Capital Management did not make any contributions to either Series during the year ended December 31, 2015. |
Financial Highlights
Financial Highlights | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Financial Highlights | (7) Financial Highlights Financial highlights for the year ended December 31, 2015, are as follows: SERIES A SERIES B Total return* Total return before incentive fees (4.9 )% (4.3 )% Incentive fees 0.0 0.0 Total return after incentive fees (4.9 )% (4.3 )% Ratio to average partners’ capital Operating expenses before incentive fees 7.4 % 8.2 % Incentive fees 0.0 0.0 Total expenses 7.4 % 8.2 % Net investment loss (7.4 )% (8.2 )% Net asset value per unit, beginning of year $ 1,283.60 $ 1,462.68 Net investment loss (93.40 ) (118.52 ) Net gain on investments 32.06 47.97 Total loss from operations (61.34 ) (70.55 ) Net asset value per unit, end of year $ 1,222.26 $ 1,392.13 * Total return is calculated for each Series of the Fund taken as a whole. An individual investor’s return may vary from these returns based on the timing of capital transactions. Other per Unit information: Net decrease in net assets from operations per Unit (based upon weighted average Number of Units during year) $ (61.12 ) $ (62.42 ) Net decrease in net assets from operations per Unit (based upon change in net asset value per Unit during year) $ (61.34 ) $ (70.55 ) Financial highlights for the year ended December 31, 2014, are as follows: SERIES A SERIES B Total return* Total return before incentive fees 5.6 % 12.4 % Incentive fees 0.0 0.0 Total return after incentive fees 5.6 % 12.4 % Ratio to average partners’ capital Operating expenses before incentive fees 8.1 % 8.9 % Incentive fees 0.0 0.0 Total expenses 8.1 % 8.9 % Net investment loss (8.1 )% (8.9 )% Net asset value per unit, beginning of year $ 1,215.27 $ 1,300.97 Net investment loss (98.41 ) (117.43 ) Net gain on investments 166.74 279.14 Total income (loss) from operations 68.33 161.71 Net asset value per unit, end of year $ 1,283.60 $ 1,462.68 * Total return is calculated for each Series of the Fund taken as a whole. An individual investor’s return may vary from these returns based on the timing of capital transactions. Other per Unit information: Net increase in net assets from operations per Unit (based upon weighted average Number of Units during year) $ 59.08 $ 140.27 Net increase in net assets from operations per Unit (based upon change in net asset value per Unit during year) $ 68.33 $ 161.71 |
Financial Instrument Risk
Financial Instrument Risk | 12 Months Ended |
Dec. 31, 2015 | |
Investments, All Other Investments [Abstract] | |
Financial Instrument Risk | (8) Financial Instrument Risk In the normal course of its business, the Fund is party to financial instruments with off-balance sheet risk, including derivative financial instruments and derivative commodity instruments. The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the balance sheet, may result in a future obligation or loss. These financial instruments may include forwards, futures and options, whose values are based upon an underlying asset, index or reference rate, and generally represent future commitments to exchange currencies or cash flows, to purchase or sell other financial instruments at specific terms at specific future dates, or, in the case of derivative commodity instruments, to have a reasonable possibility to be settled in cash, through physical delivery or with another financial instrument. These instruments may be traded on an exchange or OTC. Exchange traded instruments are standardized and include futures and certain option contracts. OTC contracts are negotiated between contracting parties and include forwards and certain options. Each of these instruments is subject to various risks similar to those related to the underlying financial instruments including market and credit risk. In general, the risks associated with OTC contracts are greater than those associated with exchange traded instruments because of the greater risk of default by the counterparty to an OTC contract. For the Fund, gross unrealized gains and losses related to exchange traded futures were $1,256,226 and $1,085,800, respectively, at December 31, 2015. For Series A, gross unrealized gains and losses related to exchange traded futures were $498,732 and $437,805, respectively, at December 31, 2015. For Series B, gross unrealized gains and losses related to exchange traded futures were $757,494 and $647,995, respectively, at December 31, 2015. Market risk is the potential for changes in the value of the financial instruments traded by the Fund due to market changes, including interest and foreign exchange rate movements and fluctuations in commodity prices. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by conditions, such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures interest positions at the same time, and Superfund Capital Management is unable to offset such positions, the Fund could experience substantial losses. Credit risk is the possibility that a loss may occur due to the failure of a counterparty to perform according to the terms of a contract. Credit risk with respect to exchange-traded instruments is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transactions. The Fund’s risk of loss in the event of counterparty default is typically limited to the amounts recognized in the statements of assets and liabilities and not represented by the contract or notional amounts of the instruments. As the Fund’s assets are held in segregated accounts with futures commission merchants, the Fund has credit risk and concentration risk. The Fund’s futures commission merchants are currently ADM Investor Services, Inc. (“ADMIS”) and Merrill Lynch, Pierce, Fenner & Smith Inc. (“Merrill Lynch”). Superfund Capital Management monitors and attempts to control the Fund’s risk exposure on a daily basis through financial, credit and risk management monitoring systems, and accordingly believes that it has effective procedures for evaluating and limiting the credit and market risks to which the Fund is subject. These monitoring systems allow Superfund Capital Management to statistically analyze actual trading results with risk adjusted performance indicators and correlation statistics. In addition, on-line monitoring systems provide account analysis of futures and forward positions by sector, margin requirements, gain and loss transactions and collateral positions. |
Subscriptions and Redemptions
Subscriptions and Redemptions | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Subscriptions and Redemptions | (9) Subscriptions and Redemptions Effective May 1, 2014, the Fund no longer accepts subscriptions. A Limited Partner may request any or all of his investment in such Series be redeemed by such Series at the net asset value of a Unit within such Series as of the end of each month, subject to a minimum redemption of $1,000 and subject further to such Limited Partner having an investment in such Series, after giving effect to the requested redemption, at least equal to the minimum initial investment amount of $10,000. Limited Partners must transmit a written request of such withdrawal to Superfund Capital Management not less than five business days prior to the end of the month (or such shorter period as permitted by Superfund Capital Management) as of which redemption is to be effective. Redemptions will generally be paid within twenty days after the date of redemption. However, in special circumstances, including, but not limited to, inability to liquidate dealers’ positions as of a redemption date or default or delay in payments due to each Series from clearing brokers, banks or other persons or entities, each Series may in turn delay payment to persons requesting redemption of the proportionate part of the net assets of each Series represented by the sums that are the subject of such default or delay. The Fund’s prospectus provides “if the net asset value per Unit within a Series as of the end of any business day declines by 50% or more from either the prior year-end or the prior month-end Unit value of such Series, Superfund Capital Management will suspend trading activities, notify all Limited Partners within such Series of the relevant facts within seven business days and declare a special redemption period.” |
Indemnification
Indemnification | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Indemnification | (10) Indemnification In the normal course of business, the Fund enters into contracts that provide general indemnifications. The Fund’s maximum exposure under these arrangements is dependent on future claims that may be made against the Fund, and therefore cannot be established; however, based on experience, the risk of loss from such claims is considered remote. |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent events | (11) Subsequent events Superfund Capital Management has evaluated the impact of all subsequent events on the Fund through the date the financial statements were issued and has determined that there were no subsequent events requiring recognition or disclosure in the financial statements. |
Basis of Presentation and Sig17
Basis of Presentation and Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | (a) Basis of Presentation Pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”), audited financial statements are prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and presented for the Fund as a whole, as the SEC registrant, and for Series A and Series B individually. For the avoidance of doubt, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series shall be enforceable only against the assets of such Series and not against the assets of the Fund generally or any other Series. Accordingly, the assets of one Series of the Fund include only those funds and other assets that are paid to, held by or distributed to the Fund on account of and for the benefit of that Series, including, without limitation, funds delivered to the Fund for the purchase of Units in that Series. |
Valuation of Investments in Futures Contracts and Forward Contracts | (b) Valuation of Investments in Futures Contracts and Forward Contracts All commodity interests (including derivative financial instruments and derivative commodity instruments) are used for trading purposes. The commodity interests are recorded on a trade date basis and open contracts are recorded in the statements of assets and liabilities at fair value on the last business day of the period, which represents market value for those commodity interests for which market quotes are readily available. Exchange-traded futures contracts are valued at settlement prices published by the recognized exchange. Any spot and forward foreign currency contracts held by the Fund will be valued at published settlement prices or at dealers’ quotes. |
Cash and Translation of Foreign Currency | (c) Cash and Translation of Foreign Currency The Fund maintains cash deposits with financial institutions in amounts that are in excess of the coverage limits adopted by the Federal Deposit Insurance Corporation. The Fund does not, however, believe it is exposed to significant credit risk on these holdings. Assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the period end exchange rates. Purchases and sales of investments and income and expenses that are denominated in foreign currencies are translated into U.S. dollar amounts on the transaction date. Adjustments arising from foreign currency transactions are reflected in the statements of operations. The Fund does not isolate that portion of the results of operations arising from the effect of changes in foreign exchange rates on investments from fluctuations from changes in market prices of investments held. Such fluctuations are included in net realized and unrealized gain (loss) on investments in the statements of operations. |
Investment Transactions, Investment Income and Expenses | (d) Investment Transactions, Investment Income and Expenses Investment transactions are accounted for on a trade-date basis. Interest income and expenses are recognized on the accrual basis. Operating expenses of the Fund are allocated to each Series in proportion to the net asset value of the Series at the beginning of each month. Expenses directly attributable to a particular Series are charged directly to that Series. Gains or losses are realized when contracts are liquidated. Unrealized gains and losses on open contracts (the difference between contract trade price and market price) are reported in the statements of assets and liabilities as gross gain or loss. There exists a right of offset of unrealized gains or losses in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 210-20, Offsetting – Balance Sheet Set forth herein are instruments and transactions eligible for offset in the Statements of Assets and Liabilities and which are subject to derivative clearing agreements with the Fund’s futures commission merchants. Each futures commission merchant nets margin held on behalf of each Series of the Fund or payment obligations of the futures commission merchant to each Series against any payment obligations of that Series to the futures commission merchant. Each Series is required to deposit margin at each futures commission merchant to meet the original and maintenance requirements established by that futures commission merchant, and/or the exchange or clearinghouse associated with the exchange on which the instrument is traded. The derivative clearing agreements give each futures commission merchant a security interest in this margin to secure any liabilities owed to the futures commission merchant arising from a default by the Series. As of December 31, 2015, Series A had on deposit $1,489,488 at ADM Investor Services, Inc. and $1,156,003 at Merrill Lynch, Pierce, Fenner & Smith Inc. As of December 31, 2015, Series B had on deposit $2,009,575 at ADM Investor Services, Inc. and $1,862,991 at Merrill Lynch, Pierce, Fenner & Smith Inc. |
Income Taxes | (e) Income Taxes The Fund does not record a provision for U.S. income taxes because the partners report their share of the Fund’s income or loss on their returns. The financial statements reflect the Fund’s transactions without adjustment, if any, required for income tax purposes. Superfund Capital Management has evaluated the application of ASC 740, Income Taxes |
Use of Estimates | (f) Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. |
Recently Adopted and/or Issued Accounting Pronouncements | (g) Recently Adopted and/or Issued Accounting Pronouncements ASU 2013-08 In June 2013, FASB issued Accounting Standards Update (“ASU”) No. 2013-08, Amendments to the Scope, Measurement, and Disclosure Requirements ASU 2015-14 In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606) – Deferral of Effective Date (“ASU 2015-14”), No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 ASU 2015-14 |
Fair Value Measurements | (h) Fair Value Measurements The Fund follows ASC 820, Fair Value Measurements and Disclosures Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Quoted prices in markets that are not considered to be active or financial instruments for which all significant inputs are observable, either directly or indirectly. Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. In determining fair value, the Fund separates its financial instruments into two categories: U.S. government securities and derivative contracts. Derivative Contracts. OTC derivatives are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, model calibration to market-clearing transactions, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. Where models are used, the selection of a particular model to value an OTC derivative depends upon the contractual terms of, and specific risks inherent in, the instrument as well as the availability of pricing information in the market. For OTC derivatives that trade in liquid markets, such as generic forwards and swaps, model inputs can generally be verified and model selection does not involve significant management judgment. The OTC derivatives held by the Fund may include forwards and swaps. Spot and forward foreign currency contracts held by the Fund are valued at published daily settlement prices or at dealers’ quotes. The Fund’s forward and swap positions are typically classified within level 2 of the fair value hierarchy. Certain OTC derivatives traded in less liquid markets with limited pricing information, and the determination of fair value for these derivatives is inherently more difficult. Such instruments are classified within level 3 of the fair value hierarchy. Where the Fund does not have corroborating market evidence to support significant model inputs and cannot verify the model to market transactions, transaction price is initially used as the best estimate of fair value. Accordingly, when a pricing model is used to value such an instrument, the model is adjusted so that the model value at inception equals the transaction price. The valuations of these less liquid OTC derivatives are typically based on level 1 and/or level 2 inputs that can be observed in the market, as well as unobservable level 3 inputs. Subsequent to initial recognition, the Fund updates the level 1 and level 2 inputs to reflect observable market changes, with resulting gains and losses reflected within level 3. Level 3 inputs are only changed when corroborated by evidence such as similar market transactions, third-party pricing services and/or broker or dealer quotations, or other empirical market data. In circumstances where the Fund cannot verify the model value to market transactions, it is possible that a different valuation model could produce a materially different estimate of fair value. The Fund attempts to avoid holding less liquid OTC derivatives. However, once held, the market for any particular derivative contract could become less liquid during the holding period. There were no Level 3 holdings at December 31, 2015 or December 31, 2014 or during the periods then ended. The following table summarizes the valuation of the Fund’s assets and liabilities measured at fair value on a recurring basis by the ASC 820 fair value hierarchy as of December 31, 2015: Superfund Green, L.P. Balance December 31, 2015 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 763,283 $ 763,283 $ — $ — Futures contracts purchased 492,943 492,943 — — Total Assets Measured at Fair Value $ 1,256,226 $ 1,256,226 $ — $ — LIABILITIES Futures contracts sold $ 676,201 $ 676,201 $ — $ — Futures contracts purchased 409,599 409,599 — — Total Liabilities Measured at Fair Value $ 1,085,800 $ 1,085,800 $ — $ — Superfund Green, L.P. – Series A Balance December 31, 2015 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 297,768 $ 297,768 $ — $ — Futures contracts purchased 200,964 200,964 — — Total Assets Measured at Fair Value $ 498,732 $ 498,732 $ — $ — LIABILITIES Futures contracts sold $ 271,057 $ 271,057 $ — $ — Futures contracts purchased 166,748 166,748 — — Total Liabilities Measured at Fair Value $ 437,805 $ 437,805 $ — $ — S uperfund Green, L.P. – Series B Balance December 31, 2015 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 465,515 $ 465,515 $ — $ — Futures contracts purchased 291,979 291,979 — — Total Assets Measured at Fair Value $ 757,494 $ 757,494 $ — $ — LIABILITIES Futures contracts sold $ 405,144 $ 405,144 $ — $ — Futures contracts purchased 242,851 242,851 — — Total Liabilities Measured at Fair Value $ 647,995 $ 647,995 $ — $ — The following table summarizes the valuation of the Fund’s assets and liabilities measured at fair value on a recurring basis by the ASC 820 fair value hierarchy as of December 31, 2014: Superfund Green, L.P. Balance December 31, 2014 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 627,584 $ 627,584 $ — $ — Futures contracts purchased 927,412 927,412 — — Total Assets Measured at Fair Value $ 1,554,996 $ 1,554,996 $ — $ — LIABILITIES Futures contracts sold $ 154,403 $ 154,403 $ — $ — Futures contracts purchased 681,201 681,201 — — Total Liabilities Measured at Fair Value $ 835,604 $ 835,604 $ — $ — Superfund Green, L.P. – Series A Balance December 31, 2014 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 237,325 $ 237,325 $ — $ — Futures contracts purchased 341,117 341,117 — — Total Assets Measured at Fair Value $ 578,442 $ 578,442 $ — $ — LIABILITIES Futures contracts sold $ 58,750 $ 58,750 $ — $ — Futures contracts purchased 251,096 251,096 — — Total Liabilities Measured at Fair Value $ 309,846 $ 309,846 $ — $ — Superfund Green, L.P. – Series B Balance December 31, 2014 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 390,259 $ 390,259 $ — $ — Futures contracts purchased 586,295 586,295 — — Total Assets Measured at Fair Value $ 976,554 $ 976,554 $ — $ — LIABILITIES Futures contracts sold $ 95,653 $ 95,653 $ — $ — Futures contracts purchased 430,105 430,105 — — Total Liabilities Measured at Fair Value $ 525,758 $ 525,758 $ — $ — For the years ended December 31, 2015 and 2014, there were no transfers between Level 1 and Level 2 assets and liabilities. |
Basis of Presentation and Sig18
Basis of Presentation and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Valuation of Fund's Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes the valuation of the Fund’s assets and liabilities measured at fair value on a recurring basis by the ASC 820 fair value hierarchy as of December 31, 2015: Superfund Green, L.P. Balance December 31, 2015 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 763,283 $ 763,283 $ — $ — Futures contracts purchased 492,943 492,943 — — Total Assets Measured at Fair Value $ 1,256,226 $ 1,256,226 $ — $ — LIABILITIES Futures contracts sold $ 676,201 $ 676,201 $ — $ — Futures contracts purchased 409,599 409,599 — — Total Liabilities Measured at Fair Value $ 1,085,800 $ 1,085,800 $ — $ — Superfund Green, L.P. – Series A Balance December 31, 2015 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 297,768 $ 297,768 $ — $ — Futures contracts purchased 200,964 200,964 — — Total Assets Measured at Fair Value $ 498,732 $ 498,732 $ — $ — LIABILITIES Futures contracts sold $ 271,057 $ 271,057 $ — $ — Futures contracts purchased 166,748 166,748 — — Total Liabilities Measured at Fair Value $ 437,805 $ 437,805 $ — $ — S uperfund Green, L.P. – Series B Balance December 31, 2015 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 465,515 $ 465,515 $ — $ — Futures contracts purchased 291,979 291,979 — — Total Assets Measured at Fair Value $ 757,494 $ 757,494 $ — $ — LIABILITIES Futures contracts sold $ 405,144 $ 405,144 $ — $ — Futures contracts purchased 242,851 242,851 — — Total Liabilities Measured at Fair Value $ 647,995 $ 647,995 $ — $ — The following table summarizes the valuation of the Fund’s assets and liabilities measured at fair value on a recurring basis by the ASC 820 fair value hierarchy as of December 31, 2014: Superfund Green, L.P. Balance December 31, 2014 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 627,584 $ 627,584 $ — $ — Futures contracts purchased 927,412 927,412 — — Total Assets Measured at Fair Value $ 1,554,996 $ 1,554,996 $ — $ — LIABILITIES Futures contracts sold $ 154,403 $ 154,403 $ — $ — Futures contracts purchased 681,201 681,201 — — Total Liabilities Measured at Fair Value $ 835,604 $ 835,604 $ — $ — Superfund Green, L.P. – Series A Balance December 31, 2014 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 237,325 $ 237,325 $ — $ — Futures contracts purchased 341,117 341,117 — — Total Assets Measured at Fair Value $ 578,442 $ 578,442 $ — $ — LIABILITIES Futures contracts sold $ 58,750 $ 58,750 $ — $ — Futures contracts purchased 251,096 251,096 — — Total Liabilities Measured at Fair Value $ 309,846 $ 309,846 $ — $ — Superfund Green, L.P. – Series B Balance December 31, 2014 Level 1 Level 2 Level 3 ASSETS Futures contracts sold $ 390,259 $ 390,259 $ — $ — Futures contracts purchased 586,295 586,295 — — Total Assets Measured at Fair Value $ 976,554 $ 976,554 $ — $ — LIABILITIES Futures contracts sold $ 95,653 $ 95,653 $ — $ — Futures contracts purchased 430,105 430,105 — — Total Liabilities Measured at Fair Value $ 525,758 $ 525,758 $ — $ — |
Disclosure of Derivative Inst19
Disclosure of Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value of Funds Derivatives by Instrument Type | The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2015, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 492,943 $ (409,599 ) $ 83,344 Futures contracts Futures contracts sold 763,283 (676,201 ) 87,082 Totals $ 1,256,226 $ (1,085,800 ) $ 170,426 The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2014, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 927,412 $ (681,201 ) $ 246,211 Futures contracts Futures contracts sold 627,584 (154,403 ) 473,181 Totals $ 1,554,996 $ (835,604 ) $ 719,392 |
Offsetting Assets | The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2015 is as follows: Gross Amounts Not Offset in the Statement of Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ (100,889 ) $ — $ — $ (100,889 ) Merrill Lynch 271,315 — — 271,315 Totals $ 170,426 $ — $ — $ 170,426 The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2014 is as follows: Gross Amounts Not Offset in the Counterparty Net Amount of Assets in Financial Instruments Cash Net ADMIS $ 74,729 $ — $ — $ 74,729 Barclays Capital 594,459 — — 594,459 Merrill Lynch 50,204 — — 50,204 Totals $ 719,392 $ — $ — $ 719,392 |
Effects of Derivative Instruments on Statement of Operations | Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2015: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement of Operations Net Realized Gain on Net Change in Foreign exchange contracts Net realized/unrealized gain on futures and forward contracts $ 52,987 $ — Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 1,093,719 (548,962 ) Total $ 1,146,706 $ (548,962 ) Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2014: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement of Operations Net Realized Gain (Loss) Net Change in Foreign exchange contracts Net realized/unrealized gain (loss) on futures and forward contracts $ (188,573 ) $ 44 Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 4,118,198 (98,452 ) Total $ 3,929,625 $ (98,408 ) |
Gross and Net Unrealized Gains and Losses by Long and Short Positions | Superfund Green, L.P. gross and net unrealized gains and losses by long and short positions as of December 31, 2015: As of December 31, 2015 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 25,804 0.2 $ (73,662 ) (0.5 ) $ 95,399 0.6 $ (146,664 ) (0.9 ) $ (99,123 ) Financial 78,150 0.5 (3,785 ) (0.0 )* 4,821 0.0 * (39,609 ) (0.2 ) 39,577 Food & Fiber 64,490 0.4 (176,698 ) (1.1 ) 182,433 1.1 (40,083 ) (0.3 ) 30,142 Indices 211,901 1.3 (113,401 ) (0.7 ) 199,752 1.3 (121,726 ) (0.8 ) 176,526 Metals 51,982 0.3 (30,003 ) (0.2 ) 47,150 0.3 (158,223 ) (1.0 ) (89,094 ) Livestock 17,990 0.1 — — — — (20,560 ) (0.1 ) (2,570 ) Energy 42,626 0.3 (12,050 ) (0.1 ) 233,728 1.5 (149,336 ) (0.9 ) 114,968 Totals $ 492,943 3.1 $ (409,599 ) (2.6 ) $ 763,283 4.8 $ (676,201 ) (4.2 ) $ 170,426 * Due to rounding – amount is less than 0.05% Superfund Green, L.P. gross and net unrealized gains and losses by long and short positions as of December 31, 2014: As of December 31, 2014 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 2,110 0.0 * $ — — $ 79,895 0.4 $ (256 ) (0.0 )* $ 81,749 Financial 516,998 2.4 (25,961 ) (0.1 ) — — (12,202 ) (0.1 ) 478,835 Food & Fiber 36,790 0.2 (89,576 ) (0.4 ) 107,005 0.5 (32,364 ) (0.1 ) 21,855 Indices 312,439 1.4 (18,099 ) (0.1 ) 3,205 0.0 * (104,506 ) (0.5 ) 193,039 Metals 55,851 0.3 (174,000 ) (0.8 ) 219,636 1.0 (5,075 ) (0.0 )* 96,412 Livestock 3,090 0.0 * (213,200 ) (1.0 ) — — — — (210,110 ) Energy 134 0.0 * (160,365 ) (0.7 ) 217,843 1.0 — — 57,612 Totals $ 927,412 4.3 $ (681,201 ) (3.1 ) $ 627,584 2.9 $ (154,403 ) (0.7 ) $ 719,392 * Due to rounding – amount is less than 0.05% |
Average Contract Volume by Market Sector | Superfund Green, L.P. average contract volume by market sector for the Year Ended December 31, 2015: Average Number Average Number Currency 164 891 Financial 3,441 1,247 Food & Fiber 1,339 1,470 Indices 2,675 2,244 Metals 975 978 Energy 540 926 Livestock 382 83 Total 9,516 7,839 Superfund Green, L.P. average contract volume by market sector for the Year Ended December 31, 2014: Average Number Average Number Currency 2,441 1,447 Financial 11,912 2,168 Food & Fiber 622 788 Indices 6,994 1,205 Metals 2,250 1,370 Energy 1,579 694 Livestock 462 8 Total 26,260 7,680 |
Funds Trading Results by Market Sector | Superfund Green, L.P. trading results by market sector: For the Year Ended December 31, 2015 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ 52,987 $ — $ 52,987 Currency 295,019 (180,869 ) 114,150 Financial (304,154 ) (439,256 ) (743,410 ) Food & Fiber (315,150 ) 8,287 (306,863 ) Indices 436,090 (16,514 ) 419,576 Metals 407,307 (185,506 ) 221,801 Livestock (824,090 ) 207,540 (616,550 ) Energy 1,398,697 57,356 1,456,053 Total net trading gains (losses) in Statement of Operations $ 1,146,706 $ (548,962 ) $ 597,744 For the Year Ended December 31, 2014 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Gains (Losses) Foreign Exchange $ (188,573 ) $ 44 $ (188,529 ) Currency 553,145 (71,300 ) 481,845 Financial 2,466,259 331,672 2,797,931 Food & Fiber 931,647 (21,741 ) 909,906 Indices 906,369 (399,926 ) 506,443 Metals (658,725 ) 56,482 (602,243 ) Livestock 553,240 (192,740 ) 360,500 Energy (633,737 ) 199,101 (434,636 ) Total net trading gains (losses)in Statement of Operations $ 3,929,625 $ (98,408 ) $ 3,831,217 |
SERIES A | |
Fair Value of Funds Derivatives by Instrument Type | The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2015, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 200,964 $ (166,748 ) $ 34,216 Futures contracts Futures contracts sold 297,768 (271,057 ) 26,711 Totals $ 498,732 $ (437,805 ) $ 60,927 The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2014, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 341,117 $ (251,096 ) $ 90,021 Futures contracts Futures contracts sold 237,325 (58,750 ) 178,575 Totals $ 578,442 $ (309,846 ) $ 268,596 |
Offsetting Assets | The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2015 is as follows: Gross Amounts Not Offset in the Statement of Assets and Liabilities Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ (51,324 ) $ — $ — $ (51,324 ) Merrill Lynch 112,251 — — 112,251 Totals $ 60,927 $ — $ — $ 60,927 The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2014 is as follows: Gross Amounts Not Offset in the Statement of Assets and Liabilities Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ 29,364 $ — $ — $ 29,364 Barclays Capital 221,708 — — 221,708 Merrill Lynch 17,524 — — 17,524 Totals $ 268,596 $ — $ — $ 268,596 |
Effects of Derivative Instruments on Statement of Operations | Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2015: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement of Operations Net Realized Gain on Net Change in Foreign exchange contracts Net realized/unrealized gain on futures and forward contracts $ 18,553 $ — Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 419,035 (207,666 ) Total $ 437,588 $ (207,666 ) Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2014: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement of Operations Net Realized Gain (Loss) Net Change in Unrealized Appreciation Foreign exchange contracts Net realized/unrealized gain (loss) on futures and forward contracts $ (80,609 ) $ 12 Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 1,572,872 (24,467 ) Total $ 1,492,263 $ (24,455 ) |
Gross and Net Unrealized Gains and Losses by Long and Short Positions | Superfund Green, L.P. – Series A gross and net unrealized gains and losses by long and short positions as of December 31, 2015: As of December 31, 2015 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 10,300 0.1 $ (30,119 ) (0.4 ) $ 37,040 0.5 $ (59,172 ) (0.8 ) $ (41,951 ) Financial 31,941 0.4 (1,525 ) (0.0 )* 4,486 0.1 (15,994 ) (0.2 ) 18,908 Food & Fiber 24,650 0.3 (71,684 ) (0.9 ) 73,127 0.9 (18,694 ) (0.2 ) 7,399 Indices 86,482 1.1 (46,035 ) (0.6 ) 80,284 1.0 (46,578 ) (0.6 ) 74,153 Metals 19,838 0.3 (12,445 ) (0.2 ) 18,053 0.2 (62,758 ) (0.8 ) (37,312 ) Livestock 8,080 0.1 — — — — (7,490 ) (0.1 ) 590 Energy 19,673 0.3 (4,940 ) (0.1 ) 84,778 1.1 (60,371 ) (0.8 ) 39,140 Totals $ 200,964 2.6 $ (166,748 ) (2.2 ) $ 297,768 3.8 $ (271,057 ) (3.5 ) $ 60,927 * Due to rounding – amount is less than 0.05% Superfund Green, L.P. – Series A gross and net unrealized gains and losses by long and short positions as of December 31, 2014: As of December 31, 2014 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ — — $ — — $ 29,064 0.3 $ (256 ) (0.0 )* $ 28,808 Financial 194,235 1.9 (9,820 ) (0.1 ) — — (4,331 ) (0.0 )* 180,084 Food & Fiber 15,355 0.1 (28,710 ) (0.3 ) 41,104 0.4 (13,563 ) (0.1 ) 14,186 Indices 108,901 1.0 (6,751 ) (0.1 ) 735 0.0 * (38,485 ) (0.4 ) 64,400 Metals 20,662 0.2 (67,465 ) (0.6 ) 85,212 0.8 (2,115 ) (0.0 )* 36,294 Livestock 1,830 0.0 * (80,300 ) (0.8 ) — — — — (78,470 ) Energy 134 0.0 * (58,050 ) (0.6 ) 81,210 0.8 — — 23,294 Totals $ 341,117 3.2 $ (251,096 ) (2.5 ) $ 237,325 2.3 $ (58,750 ) (0.5 ) $ 268,596 * Due to rounding – amount is less than 0.05% |
Average Contract Volume by Market Sector | Series A average contract volume by market sector for the Year Ended December 31, 2015: Average Number Average Number Currency 65 341 Financial 1,298 499 Food & Fiber 518 569 Indices 1,003 863 Metals 363 401 Energy 196 352 Livestock 144 31 Total 3,587 3,056 Series A average contract volume by market sector for the Year Ended December 31, 2014: Average Number Average Number Currency 946 554 Financial 4,639 866 Food & Fiber 234 297 Indices 2,652 461 Metals 858 506 Energy 588 260 Livestock 175 4 Total 10,092 2,948 |
Funds Trading Results by Market Sector | Series A trading results by market sector: For the Year Ended December 31, 2015 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ 18,553 $ — $ 18,553 Currency 98,047 (70,757 ) 27,290 Financial (114,684 ) (161,174 ) (275,858 ) Food & Fiber (116,317 ) (6,787 ) (123,104 ) Indices 134,349 9,752 144,101 Metals 182,959 (73,606 ) 109,353 Livestock (316,020 ) 79,060 (236,960 ) Energy 550,701 15,846 566,547 Total net trading gains (losses) in Statement of Operations $ 437,588 $ (207,666 ) $ 229,922 For the Year Ended December 31, 2014 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ (80,609 ) $ 12 $ (80,597 ) Currency 195,186 (26,328 ) 168,858 Financial 930,635 118,008 1,048,643 Food & Fiber 351,617 (3,741 ) 347,876 Indices 404,768 (154,913 ) 249,855 Metals (225,439 ) 32,690 (192,749 ) Livestock 193,790 (71,850 ) 121,940 Energy (277,685 ) 81,667 (196,018 ) Total net trading gains (losses) in Statement of Operations $ 1,492,263 $ (24,455 ) $ 1,467,808 |
SERIES B | |
Fair Value of Funds Derivatives by Instrument Type | The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2015, is as follows: Type of Instrument Statement of Assets and Liabilities Location Asset Derivatives at Liability Derivatives Net Futures contracts Futures contracts purchased $ 291,979 $ (242,851 ) $ 49,128 Futures contracts Futures contracts sold 465,515 (405,144 ) 60,371 Totals $ 757,494 $ (647,995 ) $ 109,499 The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2014, is as follows: Type of Instrument Statement of Assets and Asset Derivatives at Liability Derivatives at Net Futures contracts Futures contracts purchased $ 586,295 $ (430,105 ) $ 156,190 Futures contracts Futures contracts sold 390,259 (95,653 ) 294,606 Totals $ 976,554 $ (525,758 ) $ 450,796 |
Offsetting Assets | The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2015 is as follows: Gross Amounts Not Offset in the Statement Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ (49,565 ) $ — $ — $ (49,565 ) Merrill Lynch 159,064 — — 159,064 Totals $ 109,499 $ — $ — $ 109,499 The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2014 is as follows: Gross Amounts Not Offset in the Statement Counterparty Net Amount of Assets in Financial Instruments Cash Collateral Net Amount ADMIS $ 45,365 $ — $ — $ 45,365 Barclays Capital 372,751 — — 372,751 Merrill Lynch 32,680 — — 32,680 Totals $ 450,796 $ — $ — $ 450,796 |
Effects of Derivative Instruments on Statement of Operations | Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2015: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Net Realized Gain on Derivatives in Statement Operations Net Change in Foreign exchange contracts Net realized/unrealized gain on futures and $ 34,434 $ — Futures contracts Net realized/unrealized 674,684 (341,296 ) Total $ 709,118 $ (341,296 ) Effects of derivative instruments on the Statement of Operations for the Year Ended December 31, 2014: Derivatives not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) on Derivatives in Statement Operations Net Realized Gain (Loss) Net Change in Foreign exchange contracts Net realized/unrealized gain (loss) on futures and forward contracts $ (107,964 ) $ 32 Futures contracts Net realized/unrealized gain (loss) on futures and forward contracts 2,545,326 (73,985 ) Total $ 2,437,362 $ (73,953 ) |
Gross and Net Unrealized Gains and Losses by Long and Short Positions | Superfund Green, L.P. – Series B gross and net unrealized gains and losses by long and short positions as of December 31, 2015: As of December 31, 2015 Futures Contracts Purchased Futures Contracts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 15,504 0.2 $ (43,543 ) (0.5 ) $ 58,359 0.7 $ (87,492 ) (1.1 ) $ (57,172 ) Financial 46,209 0.6 (2,260 ) (0.0 )* 335 0.0 * (23,615 ) (0.3 ) 20,669 Food & Fiber 39,840 0.5 (105,014 ) (1.3 ) 109,306 1.4 (21,389 ) (0.3 ) 22,743 Indices 125,419 1.6 (67,366 ) (0.8 ) 119,468 1.5 (75,148 ) (0.9 ) 102,373 Metals 32,144 0.4 (17,558 ) (0.2 ) 29,097 0.4 (95,465 ) (1.2 ) (51,782 ) Livestock 9,910 0.1 — — — — (13,070 ) (0.2 ) (3,160 ) Energy 22,953 0.3 (7,110 ) (0.1 ) 148,950 1.8 (88,965 ) (1.1 ) 75,828 Totals $ 291,979 3.6 $ (242,851 ) (2.9 ) $ 465,515 5.8 $ (405,144 ) (5.1 ) $ 109,499 * Due to rounding – amount is less than 0.05% Superfund Green, L.P. – Series B gross and net unrealized gains and losses by long and short positions as of December 31, 2014: As of December 31, 2014 Futures Contracts Purchased Futures Contacts Sold Asset % of Net Assets Liability % of Net Assets Asset % of Net Assets Liability % of Net Assets Net Unrealized Gain (Loss) on Currency $ 2,110 0.0 * $ — — $ 50,831 0.5 $ — — $ 52,941 Financial 322,763 2.9 (16,141 ) (0.1 ) — — (7,871 ) (0.1 ) 298,751 Food & Fiber 21,435 0.2 (60,866 ) (0.5 ) 65,901 0.6 (18,801 ) (0.2 ) 7,669 Indices 203,538 1.8 (11,348 ) (0.1 ) 2,470 0.0 * (66,021 ) (0.6 ) 128,639 Metals 35,189 0.3 (106,535 ) (1.0 ) 134,424 1.2 (2,960 ) (0.0 )* 60,118 Livestock 1,260 0.0 * (132,900 ) (1.2 ) — — — — (131,640 ) Energy — — (102,315 ) (0.9 ) 136,633 1.2 — — 34,318 Totals $ 586,295 5.2 $ (430,105 ) (3.8 ) $ 390,259 3.5 $ (95,653 ) (0.9 ) $ 450,796 * Due to rounding – amount is less than 0.05% |
Average Contract Volume by Market Sector | Series B average contract volume by market sector for the Year Ended December 31, 2015: Average Number Average Number Currency 99 550 Financial 2,143 748 Food & Fiber 821 901 Indices 1,672 1,381 Metals 612 577 Energy 344 574 Livestock 238 52 Total 5,929 4,783 Series B average contract volume by market sector for the Year Ended December 31, 2014: Average Number Average Number Currency 1,495 893 Financial 7,273 1,302 Food & Fiber 388 491 Indices 4,342 744 Metals 1,392 864 Energy 991 434 Livestock 287 4 Total 16,168 4,732 |
Funds Trading Results by Market Sector | Series B trading results by market sector: For the Year Ended December 31, 2015 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ 34,434 $ — $ 34,434 Currency 196,972 (110,112 ) 86,860 Financial (189,470 ) (278,082 ) (467,552 ) Food & Fiber (198,833 ) 15,074 (183,759 ) Indices 301,741 (26,266 ) 275,475 Metals 224,348 (111,900 ) 112,448 Livestock (508,070 ) 128,480 (379,590 ) Energy 847,996 41,510 889,506 Total net trading gains (losses) in Statement of Operations $ 709,118 $ (341,296 ) $ 367,822 For the Year Ended December 31, 2014 Net Realized Gains (Losses) Change in Net Unrealized Gains (Losses) Net Trading Foreign Exchange $ (107,964 ) $ 32 $ (107,932 ) Currency 357,959 (44,972 ) 312,987 Financial 1,535,624 213,664 1,749,288 Food & Fiber 580,030 (18,000 ) 562,030 Indices 501,601 (245,013 ) 256,588 Metals (433,286 ) 23,792 (409,494 ) Livestock 359,450 (120,890 ) 238,560 Energy (356,052 ) 117,434 (238,618 ) Total net trading gains (losses) in Statement of Operations $ 2,437,362 $ (73,953 ) $ 2,363,409 |
Financial Highlights (Tables)
Financial Highlights (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Financial highlights | Financial highlights for the year ended December 31, 2015, are as follows: SERIES A SERIES B Total return* Total return before incentive fees (4.9 )% (4.3 )% Incentive fees 0.0 0.0 Total return after incentive fees (4.9 )% (4.3 )% Ratio to average partners’ capital Operating expenses before incentive fees 7.4 % 8.2 % Incentive fees 0.0 0.0 Total expenses 7.4 % 8.2 % Net investment loss (7.4 )% (8.2 )% Net asset value per unit, beginning of year $ 1,283.60 $ 1,462.68 Net investment loss (93.40 ) (118.52 ) Net gain on investments 32.06 47.97 Total loss from operations (61.34 ) (70.55 ) Net asset value per unit, end of year $ 1,222.26 $ 1,392.13 * Total return is calculated for each Series of the Fund taken as a whole. An individual investor’s return may vary from these returns based on the timing of capital transactions. Other per Unit information: Net decrease in net assets from operations per Unit (based upon weighted average Number of Units during year) $ (61.12 ) $ (62.42 ) Net decrease in net assets from operations per Unit (based upon change in net asset value per Unit during year) $ (61.34 ) $ (70.55 ) Financial highlights for the year ended December 31, 2014, are as follows: SERIES A SERIES B Total return* Total return before incentive fees 5.6 % 12.4 % Incentive fees 0.0 0.0 Total return after incentive fees 5.6 % 12.4 % Ratio to average partners’ capital Operating expenses before incentive fees 8.1 % 8.9 % Incentive fees 0.0 0.0 Total expenses 8.1 % 8.9 % Net investment loss (8.1 )% (8.9 )% Net asset value per unit, beginning of year $ 1,215.27 $ 1,300.97 Net investment loss (98.41 ) (117.43 ) Net gain on investments 166.74 279.14 Total income (loss) from operations 68.33 161.71 Net asset value per unit, end of year $ 1,283.60 $ 1,462.68 * Total return is calculated for each Series of the Fund taken as a whole. An individual investor’s return may vary from these returns based on the timing of capital transactions. Other per Unit information: Net increase in net assets from operations per Unit (based upon weighted average Number of Units during year) $ 59.08 $ 140.27 Net increase in net assets from operations per Unit (based upon change in net asset value per Unit during year) $ 68.33 $ 161.71 |
Condensed Schedule of Investmen
Condensed Schedule of Investments (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | |
Futures Contracts | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 1.10% | 3.40% | |
Fair Value | $ 170,426 | $ 719,392 | |
Futures Contract Purchased | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.60% | 1.30% | |
Fair Value | $ 83,344 | $ 246,211 | |
Futures Contract Purchased | Currency | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.30%) | 0.00% | [1] |
Fair Value | $ (47,858) | $ 2,110 | |
Futures Contract Purchased | Energy | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.20% | (0.70%) | |
Fair Value | $ 30,576 | $ (160,231) | |
Futures Contract Purchased | Financial | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.50% | 2.30% | [2] |
Fair Value | $ 74,365 | $ 491,037 | |
Futures Contract Purchased | Food & Fiber | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.70%) | (0.20%) | |
Fair Value | $ (112,208) | $ (52,786) | |
Futures Contract Purchased | Indices | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.60% | 1.40% | [2] |
Fair Value | $ 98,500 | $ 294,340 | |
Futures Contract Purchased | Livestock | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | (1.00%) | [2] |
Fair Value | $ 17,990 | $ (210,110) | |
Futures Contract Purchased | Metals | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | (0.50%) | |
Fair Value | $ 21,979 | $ (118,149) | |
Futures Contracts Sold | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.60% | 2.10% | |
Fair Value | $ 87,082 | $ 473,181 | |
Futures Contracts Sold | Currency | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.30%) | 0.40% | |
Fair Value | $ (51,265) | $ 79,639 | |
Futures Contracts Sold | Energy | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.50% | 1.00% | [2] |
Fair Value | $ 84,392 | $ 217,842 | |
Futures Contracts Sold | Financial | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.20%) | (0.10%) | |
Fair Value | $ (34,788) | $ (12,202) | |
Futures Contracts Sold | Food & Fiber | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.90% | 0.30% | |
Fair Value | $ 142,350 | $ 74,642 | |
Futures Contracts Sold | Indices | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.50% | (0.50%) | |
Fair Value | $ 78,026 | $ (101,301) | |
Futures Contracts Sold | Livestock | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.10%) | ||
Fair Value | $ (20,560) | ||
Futures Contracts Sold | Metals | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.70%) | 1.00% | [2] |
Fair Value | $ (111,073) | $ 214,561 | |
Futures And Forward Contracts | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 1.10% | 3.30% | |
Fair Value | $ 170,426 | $ 719,392 | |
Futures And Forward Contracts | Australia | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | 0.20% | |
Fair Value | $ 15,095 | $ 44,422 | |
Futures And Forward Contracts | Canada | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.30% | 0.40% | |
Fair Value | $ 47,097 | $ 90,868 | |
Futures And Forward Contracts | European Monetary Union | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | 0.00% | [1] |
Fair Value | $ 18,363 | $ 353 | |
Futures And Forward Contracts | Great Britain | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.30%) | 0.40% | |
Fair Value | $ (48,659) | $ 77,698 | |
Futures And Forward Contracts | Japan | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.60% | 0.90% | |
Fair Value | $ 88,051 | $ 188,896 | |
Futures And Forward Contracts | United States | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | 0.30% | |
Fair Value | $ 14,103 | $ 74,579 | |
Futures And Forward Contracts | Other | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.20% | 1.10% | [2] |
Fair Value | $ 36,376 | $ 242,576 | |
SERIES A | Futures Contracts | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.80% | 2.60% | |
Fair Value | $ 60,927 | $ 268,596 | |
SERIES A | Futures Contract Purchased | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.40% | 0.90% | |
Fair Value | $ 34,216 | $ 90,021 | |
SERIES A | Futures Contract Purchased | Currency | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.30%) | ||
Fair Value | $ (19,819) | ||
SERIES A | Futures Contract Purchased | Energy | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.20% | (0.60%) | |
Fair Value | $ 14,733 | $ (57,916) | |
SERIES A | Futures Contract Purchased | Financial | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.40% | 1.80% | [2] |
Fair Value | $ 30,416 | $ 184,415 | |
SERIES A | Futures Contract Purchased | Food & Fiber | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.60%) | (0.10%) | |
Fair Value | $ (47,034) | $ (13,355) | |
SERIES A | Futures Contract Purchased | Indices | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.50% | 0.90% | |
Fair Value | $ 40,447 | $ 102,150 | |
SERIES A | Futures Contract Purchased | Livestock | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | (0.70%) | |
Fair Value | $ 8,080 | $ (78,470) | |
SERIES A | Futures Contract Purchased | Metals | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | (0.40%) | |
Fair Value | $ 7,393 | $ (46,803) | |
SERIES A | Futures Contracts Sold | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.40% | 1.70% | |
Fair Value | $ 26,711 | $ 178,575 | |
SERIES A | Futures Contracts Sold | Currency | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.20%) | 0.30% | |
Fair Value | $ (22,132) | $ 28,808 | |
SERIES A | Futures Contracts Sold | Energy | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.30% | 0.80% | |
Fair Value | $ 24,407 | $ 81,210 | |
SERIES A | Futures Contracts Sold | Financial | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.10%) | 0.00% | [1] |
Fair Value | $ (11,508) | $ (4,331) | |
SERIES A | Futures Contracts Sold | Food & Fiber | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.70% | 0.20% | |
Fair Value | $ 54,433 | $ 27,541 | |
SERIES A | Futures Contracts Sold | Indices | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.40% | (0.40%) | |
Fair Value | $ 33,706 | $ (37,750) | |
SERIES A | Futures Contracts Sold | Livestock | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.10%) | ||
Fair Value | $ (7,490) | ||
SERIES A | Futures Contracts Sold | Metals | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.60%) | 0.80% | |
Fair Value | $ (44,705) | $ 83,097 | |
SERIES A | Futures And Forward Contracts | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.80% | 2.60% | |
Fair Value | $ 60,927 | $ 268,596 | |
SERIES A | Futures And Forward Contracts | Australia | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | 0.10% | |
Fair Value | $ 6,295 | $ 12,933 | |
SERIES A | Futures And Forward Contracts | Canada | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.30% | 0.30% | |
Fair Value | $ 20,503 | $ 31,434 | |
SERIES A | Futures And Forward Contracts | European Monetary Union | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | 0.00% | [1] |
Fair Value | $ 6,192 | $ (2,640) | |
SERIES A | Futures And Forward Contracts | Great Britain | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.20%) | 0.20% | |
Fair Value | $ (17,131) | $ 25,780 | |
SERIES A | Futures And Forward Contracts | Japan | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.40% | 0.60% | |
Fair Value | $ 36,300 | $ 68,041 | |
SERIES A | Futures And Forward Contracts | United States | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.10%) | 0.50% | |
Fair Value | $ (5,803) | $ 37,619 | |
SERIES A | Futures And Forward Contracts | Other | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.20% | 0.90% | |
Fair Value | $ 14,571 | $ 95,429 | |
SERIES B | Futures Contracts | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 1.40% | 4.10% | |
Fair Value | $ 109,499 | $ 450,796 | |
SERIES B | Futures Contract Purchased | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.60% | 1.40% | |
Fair Value | $ 49,128 | $ 156,190 | |
SERIES B | Futures Contract Purchased | Currency | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.30%) | 0.00% | [1] |
Fair Value | $ (28,039) | $ 2,110 | |
SERIES B | Futures Contract Purchased | Energy | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.20% | (0.90%) | |
Fair Value | $ 15,843 | $ (102,315) | |
SERIES B | Futures Contract Purchased | Financial | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.50% | 2.80% | [2] |
Fair Value | $ 43,949 | $ 306,622 | |
SERIES B | Futures Contract Purchased | Food & Fiber | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.80%) | (0.40%) | |
Fair Value | $ (65,174) | $ (39,431) | |
SERIES B | Futures Contract Purchased | Indices | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.70% | 1.70% | [2] |
Fair Value | $ 58,053 | $ 192,190 | |
SERIES B | Futures Contract Purchased | Livestock | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | (1.20%) | [2] |
Fair Value | $ 9,910 | $ (131,640) | |
SERIES B | Futures Contract Purchased | Metals | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.20% | (0.60%) | |
Fair Value | $ 14,586 | $ (71,346) | |
SERIES B | Futures Contracts Sold | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.80% | 2.70% | |
Fair Value | $ 60,371 | $ 294,606 | |
SERIES B | Futures Contracts Sold | Currency | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.40%) | 0.60% | |
Fair Value | $ (29,133) | $ 50,831 | |
SERIES B | Futures Contracts Sold | Energy | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.80% | 1.20% | [2] |
Fair Value | $ 59,985 | $ 136,632 | |
SERIES B | Futures Contracts Sold | Financial | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.30%) | (0.10%) | |
Fair Value | $ (23,280) | $ (7,871) | |
SERIES B | Futures Contracts Sold | Food & Fiber | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.40% | ||
Fair Value | $ 47,101 | ||
SERIES B | Futures Contracts Sold | Indices | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.50% | (0.60%) | |
Fair Value | $ 44,320 | $ (63,551) | |
SERIES B | Futures Contracts Sold | Livestock | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.10%) | ||
Fair Value | $ (13,070) | ||
SERIES B | Futures Contracts Sold | Metals | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.80%) | 1.20% | [2] |
Fair Value | $ (66,368) | $ 131,464 | |
SERIES B | Futures And Forward Contracts | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 1.40% | 4.10% | |
Fair Value | $ 109,499 | $ 450,796 | |
SERIES B | Futures And Forward Contracts | Australia | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.10% | 0.30% | |
Fair Value | $ 8,800 | $ 31,489 | |
SERIES B | Futures And Forward Contracts | Canada | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.30% | 0.50% | |
Fair Value | $ 26,594 | $ 59,434 | |
SERIES B | Futures And Forward Contracts | European Monetary Union | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.20% | 0.00% | [1] |
Fair Value | $ 12,171 | $ 2,993 | |
SERIES B | Futures And Forward Contracts | Great Britain | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | (0.30%) | 0.50% | |
Fair Value | $ (31,528) | $ 51,918 | |
SERIES B | Futures And Forward Contracts | Japan | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.60% | 1.10% | [2] |
Fair Value | $ 51,751 | $ 120,855 | |
SERIES B | Futures And Forward Contracts | United States | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.20% | 0.30% | |
Fair Value | $ 19,906 | $ 36,960 | |
SERIES B | Futures And Forward Contracts | Other | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of Net Assets | 0.30% | 1.40% | [2] |
Fair Value | $ 21,805 | $ 147,147 | |
[1] | Due to rounding - amount is less than 0.05% | ||
[2] | No individual contract position constituted one percent or greater of net assets. Accordingly, the number of contracts and expiration dates are not presented. |
Condensed Schedule of Investm22
Condensed Schedule of Investments (Parenthetical) (Detail) - Maximum | Dec. 31, 2014 |
Summary of Investment Holdings [Line Items] | |
Percentage of Net Assets | 0.05% |
SERIES A | |
Summary of Investment Holdings [Line Items] | |
Percentage of Net Assets | 0.05% |
SERIES B | |
Summary of Investment Holdings [Line Items] | |
Percentage of Net Assets | 0.05% |
Statements of Changes in Net As
Statements of Changes in Net Assets (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Increase (decrease) in net assets from operations | ||
Net investment loss | $ (1,429,137) | $ (2,042,450) |
Net realized gain on futures and forward contracts | 1,146,706 | 3,929,625 |
Net change in unrealized depreciation on futures and forward contracts | (548,962) | (98,408) |
Net increase (decrease) in net assets from operations | (831,393) | 1,788,767 |
Capital Share transactions | ||
Issuance of Units | 590,041 | 978,609 |
Redemption of Units | (4,420,419) | (9,923,216) |
Net decrease in net assets from capital share transactions | (3,830,378) | (8,944,607) |
Net decrease in net assets | (4,661,771) | (7,155,840) |
Net assets, beginning of year | 20,602,511 | 27,758,351 |
Net assets, end of year | 15,940,740 | 20,602,511 |
SERIES A | ||
Increase (decrease) in net assets from operations | ||
Net investment loss | (658,782) | (931,720) |
Net realized gain on futures and forward contracts | 437,588 | 1,492,263 |
Net change in unrealized depreciation on futures and forward contracts | (207,666) | (24,455) |
Net increase (decrease) in net assets from operations | (428,860) | 536,088 |
Capital Share transactions | ||
Issuance of Units | 265,984 | 577,597 |
Redemption of Units | (1,871,051) | (4,186,645) |
Net decrease in net assets from capital share transactions | (1,605,067) | (3,609,048) |
Net decrease in net assets | (2,033,927) | (3,072,960) |
Net assets, beginning of year | 9,901,436 | 12,974,396 |
Net assets, end of year | $ 7,867,509 | $ 9,901,436 |
Units, beginning of year | 7,713.806 | 10,676.154 |
Issuance of Units | 211.197 | 482.137 |
Redemption of Units | (1,488.141) | (3,444.485) |
Units, end of year | 6,436.862 | 7,713.806 |
SERIES B | ||
Increase (decrease) in net assets from operations | ||
Net investment loss | $ (770,355) | $ (1,110,730) |
Net realized gain on futures and forward contracts | 709,118 | 2,437,362 |
Net change in unrealized depreciation on futures and forward contracts | (341,296) | (73,953) |
Net increase (decrease) in net assets from operations | (402,533) | 1,252,679 |
Capital Share transactions | ||
Issuance of Units | 324,057 | 401,012 |
Redemption of Units | (2,549,368) | (5,736,571) |
Net decrease in net assets from capital share transactions | (2,225,311) | (5,335,559) |
Net decrease in net assets | (2,627,844) | (4,082,880) |
Net assets, beginning of year | 10,701,075 | 14,783,955 |
Net assets, end of year | $ 8,073,231 | $ 10,701,075 |
Units, beginning of year | 7,316.097 | 11,363.782 |
Issuance of Units | 223.410 | 304.733 |
Redemption of Units | (1,740.319) | (4,352.418) |
Units, end of year | 5,799.188 | 7,316.097 |
Nature of Operations - Addition
Nature of Operations - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2015USD ($)Unit | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of Classes | Unit | 2 |
Aggregate Net Assets | $ | $ 500,000 |
Basis of Presentation and Sig25
Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ||
Derivative Contracts Valued Using Level 3 Holdings During Period | $ 0 | $ 0 |
ADMIS | SERIES A | ||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ||
Margin on deposit | 1,489,488 | |
ADMIS | SERIES B | ||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ||
Margin on deposit | 2,009,575 | |
Merrill Lynch | SERIES A | ||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ||
Margin on deposit | 1,156,003 | |
Merrill Lynch | SERIES B | ||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ||
Margin on deposit | $ 1,862,991 |
Summary of Valuation of Fund's
Summary of Valuation of Fund's Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | $ 1,256,226 | $ 1,554,996 |
Total Liabilities Measured at Fair Value | 1,085,800 | 835,604 |
Futures Contracts Sold | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 763,283 | 627,584 |
Total Liabilities Measured at Fair Value | 676,201 | 154,403 |
Futures Contract Purchased | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 492,943 | 927,412 |
Total Liabilities Measured at Fair Value | 409,599 | 681,201 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 1,256,226 | 1,554,996 |
Total Liabilities Measured at Fair Value | 1,085,800 | 835,604 |
Level 1 | Futures Contracts Sold | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 763,283 | 627,584 |
Total Liabilities Measured at Fair Value | 676,201 | 154,403 |
Level 1 | Futures Contract Purchased | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 492,943 | 927,412 |
Total Liabilities Measured at Fair Value | 409,599 | 681,201 |
SERIES A | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 498,732 | 578,442 |
Total Liabilities Measured at Fair Value | 437,805 | 309,846 |
SERIES A | Futures Contracts Sold | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 297,768 | 237,325 |
Total Liabilities Measured at Fair Value | 271,057 | 58,750 |
SERIES A | Futures Contract Purchased | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 200,964 | 341,117 |
Total Liabilities Measured at Fair Value | 166,748 | 251,096 |
SERIES A | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 498,732 | 578,442 |
Total Liabilities Measured at Fair Value | 437,805 | 309,846 |
SERIES A | Level 1 | Futures Contracts Sold | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 297,768 | 237,325 |
Total Liabilities Measured at Fair Value | 271,057 | 58,750 |
SERIES A | Level 1 | Futures Contract Purchased | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 200,964 | 341,117 |
Total Liabilities Measured at Fair Value | 166,748 | 251,096 |
SERIES B | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 757,494 | 976,554 |
Total Liabilities Measured at Fair Value | 647,995 | 525,758 |
SERIES B | Futures Contracts Sold | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 465,515 | 390,259 |
Total Liabilities Measured at Fair Value | 405,144 | 95,653 |
SERIES B | Futures Contract Purchased | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 291,979 | 586,295 |
Total Liabilities Measured at Fair Value | 242,851 | 430,105 |
SERIES B | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 757,494 | 976,554 |
Total Liabilities Measured at Fair Value | 647,995 | 525,758 |
SERIES B | Level 1 | Futures Contracts Sold | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 465,515 | 390,259 |
Total Liabilities Measured at Fair Value | 405,144 | 95,653 |
SERIES B | Level 1 | Futures Contract Purchased | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets Measured at Fair Value | 291,979 | 586,295 |
Total Liabilities Measured at Fair Value | $ 242,851 | $ 430,105 |
Fair Value of Funds Derivatives
Fair Value of Funds Derivatives by Instrument Type (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 1,256,226 | $ 1,554,996 |
Derivative Liabilities | (1,085,800) | (835,604) |
Derivative Assets and Liabilities | 170,426 | 719,392 |
Futures Contract Purchased | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 492,943 | 927,412 |
Derivative Liabilities | (409,599) | (681,201) |
Futures Contracts Sold | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 763,283 | 627,584 |
Derivative Liabilities | (676,201) | (154,403) |
SERIES A | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 498,732 | 578,442 |
Derivative Liabilities | (437,805) | (309,846) |
Derivative Assets and Liabilities | 60,927 | 268,596 |
SERIES A | Futures Contract Purchased | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 200,964 | 341,117 |
Derivative Liabilities | (166,748) | (251,096) |
SERIES A | Futures Contracts Sold | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 297,768 | 237,325 |
Derivative Liabilities | (271,057) | (58,750) |
SERIES B | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 757,494 | 976,554 |
Derivative Liabilities | (647,995) | (525,758) |
Derivative Assets and Liabilities | 109,499 | 450,796 |
SERIES B | Futures Contract Purchased | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 291,979 | 586,295 |
Derivative Liabilities | (242,851) | (430,105) |
SERIES B | Futures Contracts Sold | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 465,515 | 390,259 |
Derivative Liabilities | (405,144) | (95,653) |
Futures Contracts | Futures Contract Purchased | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 492,943 | 927,412 |
Derivative Liabilities | (409,599) | (681,201) |
Derivative Assets and Liabilities | 83,344 | 246,211 |
Futures Contracts | Futures Contracts Sold | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 763,283 | 627,584 |
Derivative Liabilities | (676,201) | (154,403) |
Derivative Assets and Liabilities | 87,082 | 473,181 |
Futures Contracts | SERIES A | Futures Contract Purchased | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 200,964 | 341,117 |
Derivative Liabilities | (166,748) | (251,096) |
Derivative Assets and Liabilities | 34,216 | 90,021 |
Futures Contracts | SERIES A | Futures Contracts Sold | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 297,768 | 237,325 |
Derivative Liabilities | (271,057) | (58,750) |
Derivative Assets and Liabilities | 26,711 | 178,575 |
Futures Contracts | SERIES B | Futures Contract Purchased | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 291,979 | 586,295 |
Derivative Liabilities | (242,851) | (430,105) |
Derivative Assets and Liabilities | 49,128 | 156,190 |
Futures Contracts | SERIES B | Futures Contracts Sold | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 465,515 | 390,259 |
Derivative Liabilities | (405,144) | (95,653) |
Derivative Assets and Liabilities | $ 60,371 | $ 294,606 |
Disclosure of Derivative Inst28
Disclosure of Derivative Instruments and Hedging Activities - Offsetting Assets (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | $ 170,426 | $ 719,392 |
Financial Instruments Pledged | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | 170,426 | 719,392 |
SERIES A | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | 60,927 | 268,596 |
Financial Instruments Pledged | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | 60,927 | 268,596 |
SERIES B | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | 109,499 | 450,796 |
Financial Instruments Pledged | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | 109,499 | 450,796 |
ADMIS | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | (100,889) | 74,729 |
Financial Instruments Pledged | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | (100,889) | 74,729 |
ADMIS | SERIES A | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | (51,324) | 29,364 |
Financial Instruments Pledged | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | (51,324) | 29,364 |
ADMIS | SERIES B | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | (49,565) | 45,365 |
Financial Instruments Pledged | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | (49,565) | 45,365 |
Merrill Lynch | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | 271,315 | 50,204 |
Financial Instruments Pledged | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | 271,315 | 50,204 |
Merrill Lynch | SERIES A | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | 112,251 | 17,524 |
Financial Instruments Pledged | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | 112,251 | 17,524 |
Merrill Lynch | SERIES B | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | 159,064 | 32,680 |
Financial Instruments Pledged | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | $ 159,064 | 32,680 |
Barclays Capital | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | 594,459 | |
Financial Instruments Pledged | 0 | |
Cash Collateral Received | 0 | |
Net Amount | 594,459 | |
Barclays Capital | SERIES A | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | 221,708 | |
Financial Instruments Pledged | 0 | |
Cash Collateral Received | 0 | |
Net Amount | 221,708 | |
Barclays Capital | SERIES B | ||
Offsetting Assets [Line Items] | ||
Net Amount of Assets in the Statement of Assets and Liabilities | 372,751 | |
Financial Instruments Pledged | 0 | |
Cash Collateral Received | 0 | |
Net Amount | $ 372,751 |
Effects of Derivative Instrumen
Effects of Derivative Instruments on Statement of Operations (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gain (Loss) on Derivatives in Statement of Operations | $ 1,146,706 | $ 3,929,625 |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives in Statement of Operations | (548,962) | (98,408) |
Futures Contracts | Net Realized and Unrealized Gain (Loss) on Futures and Forward Contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gain (Loss) on Derivatives in Statement of Operations | 1,093,719 | 4,118,198 |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives in Statement of Operations | (548,962) | (98,452) |
SERIES A | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gain (Loss) on Derivatives in Statement of Operations | 437,588 | 1,492,263 |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives in Statement of Operations | (207,666) | (24,455) |
SERIES A | Futures Contracts | Net Realized and Unrealized Gain (Loss) on Futures and Forward Contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gain (Loss) on Derivatives in Statement of Operations | 419,035 | 1,572,872 |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives in Statement of Operations | (207,666) | (24,467) |
SERIES B | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gain (Loss) on Derivatives in Statement of Operations | 709,118 | 2,437,362 |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives in Statement of Operations | (341,296) | (73,953) |
SERIES B | Futures Contracts | Net Realized and Unrealized Gain (Loss) on Futures and Forward Contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gain (Loss) on Derivatives in Statement of Operations | 674,684 | 2,545,326 |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives in Statement of Operations | (341,296) | (73,985) |
Foreign Exchange Contracts | Net Realized and Unrealized Gain (Loss) on Futures and Forward Contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gain (Loss) on Derivatives in Statement of Operations | 52,987 | (188,573) |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives in Statement of Operations | 44 | |
Foreign Exchange Contracts | SERIES A | Net Realized and Unrealized Gain (Loss) on Futures and Forward Contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gain (Loss) on Derivatives in Statement of Operations | 18,553 | (80,609) |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives in Statement of Operations | 12 | |
Foreign Exchange Contracts | SERIES B | Net Realized and Unrealized Gain (Loss) on Futures and Forward Contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gain (Loss) on Derivatives in Statement of Operations | $ 34,434 | (107,964) |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives in Statement of Operations | $ 32 |
Gross and Net Unrealized Gains
Gross and Net Unrealized Gains and Losses by Long and Short Positions (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 1,256,226 | $ 1,554,996 | |||
Asset Derivatives | 170,426 | 719,392 | |||
Liability Derivatives | (1,085,800) | (835,604) | |||
Currency | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | (99,123) | 81,749 | |||
Financial | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 39,577 | 478,835 | |||
Food & Fiber | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 30,142 | 21,855 | |||
Indices | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 176,526 | 193,039 | |||
Metals | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | (89,094) | 96,412 | |||
Livestock | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | (2,570) | (210,110) | |||
Energy | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 114,968 | 57,612 | |||
Long Position | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 492,943 | $ 927,412 | |||
Gains percentage of net assets | 3.10% | 4.30% | |||
Liability Derivatives | $ (409,599) | $ (681,201) | |||
Loss percentage of net assets | (2.60%) | (3.10%) | |||
Long Position | Currency | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 25,804 | $ 2,110 | |||
Gains percentage of net assets | 0.20% | 0.00% | [1] | ||
Liability Derivatives | $ (73,662) | ||||
Loss percentage of net assets | (0.50%) | ||||
Long Position | Financial | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 78,150 | $ 516,998 | |||
Gains percentage of net assets | 0.50% | 2.40% | |||
Liability Derivatives | $ (3,785) | $ (25,961) | |||
Loss percentage of net assets | (0.00%) | [1] | (0.10%) | ||
Long Position | Food & Fiber | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 64,490 | $ 36,790 | |||
Gains percentage of net assets | 0.40% | 0.20% | |||
Liability Derivatives | $ (176,698) | $ (89,576) | |||
Loss percentage of net assets | (1.10%) | (0.40%) | |||
Long Position | Indices | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 211,901 | $ 312,439 | |||
Gains percentage of net assets | 1.30% | 1.40% | |||
Liability Derivatives | $ (113,401) | $ (18,099) | |||
Loss percentage of net assets | (0.70%) | (0.10%) | |||
Long Position | Metals | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 51,982 | $ 55,851 | |||
Gains percentage of net assets | 0.30% | 0.30% | |||
Liability Derivatives | $ (30,003) | $ (174,000) | |||
Loss percentage of net assets | (0.20%) | (0.80%) | |||
Long Position | Livestock | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 17,990 | $ 3,090 | |||
Gains percentage of net assets | 0.10% | 0.00% | [1] | ||
Liability Derivatives | $ (213,200) | ||||
Loss percentage of net assets | (1.00%) | ||||
Long Position | Energy | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 42,626 | $ 134 | |||
Gains percentage of net assets | 0.30% | 0.00% | [1] | ||
Liability Derivatives | $ (12,050) | $ (160,365) | |||
Loss percentage of net assets | (0.10%) | (0.70%) | |||
Short Position | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 763,283 | $ 627,584 | |||
Gains percentage of net assets | 4.80% | 2.90% | |||
Liability Derivatives | $ (676,201) | $ (154,403) | |||
Loss percentage of net assets | (4.20%) | (0.70%) | |||
Short Position | Currency | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 95,399 | $ 79,895 | |||
Gains percentage of net assets | 0.60% | 0.40% | |||
Liability Derivatives | $ (146,664) | $ (256) | |||
Loss percentage of net assets | (0.90%) | (0.00%) | [1] | ||
Short Position | Financial | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 4,821 | ||||
Gains percentage of net assets | [1] | 0.00% | |||
Liability Derivatives | $ (39,609) | $ (12,202) | |||
Loss percentage of net assets | (0.20%) | (0.10%) | |||
Short Position | Food & Fiber | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 182,433 | $ 107,005 | |||
Gains percentage of net assets | 1.10% | 0.50% | |||
Liability Derivatives | $ (40,083) | $ (32,364) | |||
Loss percentage of net assets | (0.30%) | (0.10%) | |||
Short Position | Indices | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 199,752 | $ 3,205 | |||
Gains percentage of net assets | 1.30% | 0.00% | [1] | ||
Liability Derivatives | $ (121,726) | $ (104,506) | |||
Loss percentage of net assets | (0.80%) | (0.50%) | |||
Short Position | Metals | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 47,150 | $ 219,636 | |||
Gains percentage of net assets | 0.30% | 1.00% | |||
Liability Derivatives | $ (158,223) | $ (5,075) | |||
Loss percentage of net assets | (1.00%) | (0.00%) | [1] | ||
Short Position | Livestock | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Liability Derivatives | $ (20,560) | ||||
Loss percentage of net assets | (0.10%) | ||||
Short Position | Energy | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 233,728 | $ 217,843 | |||
Gains percentage of net assets | 1.50% | 1.00% | |||
Liability Derivatives | $ (149,336) | ||||
Loss percentage of net assets | (0.90%) | ||||
SERIES B | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 757,494 | $ 976,554 | |||
Asset Derivatives | 109,499 | 450,796 | |||
Liability Derivatives | (647,995) | (525,758) | |||
SERIES B | Currency | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | (57,172) | 52,941 | |||
SERIES B | Financial | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 20,669 | 298,751 | |||
SERIES B | Food & Fiber | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 22,743 | 7,669 | |||
SERIES B | Indices | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 102,373 | 128,639 | |||
SERIES B | Metals | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | (51,782) | 60,118 | |||
SERIES B | Livestock | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | (3,160) | (131,640) | |||
SERIES B | Energy | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 75,828 | 34,318 | |||
SERIES B | Long Position | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 586,295 | ||||
Asset Derivatives | $ 291,979 | ||||
Gains percentage of net assets | 3.60% | 5.20% | |||
Liability Derivatives | $ (242,851) | $ (430,105) | |||
Loss percentage of net assets | (2.90%) | (3.80%) | |||
SERIES B | Long Position | Currency | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 2,110 | ||||
Asset Derivatives | $ 15,504 | ||||
Gains percentage of net assets | 0.20% | 0.00% | [1] | ||
Liability Derivatives | $ (43,543) | ||||
Loss percentage of net assets | (0.50%) | ||||
SERIES B | Long Position | Financial | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 322,763 | ||||
Asset Derivatives | $ 46,209 | ||||
Gains percentage of net assets | 0.60% | 2.90% | |||
Liability Derivatives | $ (2,260) | $ (16,141) | |||
Loss percentage of net assets | (0.00%) | [1] | (0.10%) | ||
SERIES B | Long Position | Food & Fiber | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 21,435 | ||||
Asset Derivatives | $ 39,840 | ||||
Gains percentage of net assets | 0.50% | 0.20% | |||
Liability Derivatives | $ (105,014) | $ (60,866) | |||
Loss percentage of net assets | (1.30%) | (0.50%) | |||
SERIES B | Long Position | Indices | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 203,538 | ||||
Asset Derivatives | $ 125,419 | ||||
Gains percentage of net assets | 1.60% | 1.80% | |||
Liability Derivatives | $ (67,366) | $ (11,348) | |||
Loss percentage of net assets | (0.80%) | (0.10%) | |||
SERIES B | Long Position | Metals | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 35,189 | ||||
Asset Derivatives | $ 32,144 | ||||
Gains percentage of net assets | 0.40% | 0.30% | |||
Liability Derivatives | $ (17,558) | $ (106,535) | |||
Loss percentage of net assets | (0.20%) | (1.00%) | |||
SERIES B | Long Position | Livestock | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 1,260 | ||||
Asset Derivatives | $ 9,910 | ||||
Gains percentage of net assets | 0.10% | 0.00% | [1] | ||
Liability Derivatives | $ (132,900) | ||||
Loss percentage of net assets | (1.20%) | ||||
SERIES B | Long Position | Energy | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 22,953 | ||||
Gains percentage of net assets | 0.30% | ||||
Liability Derivatives | $ (7,110) | $ (102,315) | |||
Loss percentage of net assets | (0.10%) | (0.90%) | |||
SERIES B | Short Position | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 465,515 | $ 390,259 | |||
Gains percentage of net assets | 5.80% | 3.50% | |||
Liability Derivatives | $ (405,144) | $ (95,653) | |||
Loss percentage of net assets | (5.10%) | (0.90%) | |||
SERIES B | Short Position | Currency | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 58,359 | $ 50,831 | |||
Gains percentage of net assets | 0.70% | 0.50% | |||
Liability Derivatives | $ (87,492) | ||||
Loss percentage of net assets | (1.10%) | ||||
SERIES B | Short Position | Financial | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 335 | ||||
Gains percentage of net assets | [1] | 0.00% | |||
Liability Derivatives | $ (23,615) | $ (7,871) | |||
Loss percentage of net assets | (0.30%) | (0.10%) | |||
SERIES B | Short Position | Food & Fiber | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 109,306 | $ 65,901 | |||
Gains percentage of net assets | 1.40% | 0.60% | |||
Liability Derivatives | $ (21,389) | $ (18,801) | |||
Loss percentage of net assets | (0.30%) | (0.20%) | |||
SERIES B | Short Position | Indices | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 119,468 | $ 2,470 | |||
Gains percentage of net assets | 1.50% | 0.00% | [1] | ||
Liability Derivatives | $ (75,148) | $ (66,021) | |||
Loss percentage of net assets | (0.90%) | (0.60%) | |||
SERIES B | Short Position | Metals | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 29,097 | $ 134,424 | |||
Gains percentage of net assets | 0.40% | 1.20% | |||
Liability Derivatives | $ (95,465) | $ (2,960) | |||
Loss percentage of net assets | (1.20%) | (0.00%) | [1] | ||
SERIES B | Short Position | Livestock | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Liability Derivatives | $ (13,070) | ||||
Loss percentage of net assets | (0.20%) | ||||
SERIES B | Short Position | Energy | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 148,950 | $ 136,633 | |||
Gains percentage of net assets | 1.80% | 1.20% | |||
Liability Derivatives | $ (88,965) | ||||
Loss percentage of net assets | (1.10%) | ||||
SERIES A | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 498,732 | $ 578,442 | |||
Asset Derivatives | 60,927 | 268,596 | |||
Liability Derivatives | (437,805) | (309,846) | |||
SERIES A | Currency | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | (41,951) | 28,808 | |||
SERIES A | Financial | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 18,908 | 180,084 | |||
SERIES A | Food & Fiber | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 7,399 | 14,186 | |||
SERIES A | Indices | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 74,153 | 64,400 | |||
SERIES A | Metals | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | (37,312) | 36,294 | |||
SERIES A | Livestock | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 590 | (78,470) | |||
SERIES A | Energy | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 39,140 | 23,294 | |||
SERIES A | Long Position | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 200,964 | $ 341,117 | |||
Gains percentage of net assets | 2.60% | 3.20% | |||
Liability Derivatives | $ (166,748) | $ (251,096) | |||
Loss percentage of net assets | (2.20%) | (2.50%) | |||
SERIES A | Long Position | Currency | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 10,300 | ||||
Gains percentage of net assets | 0.10% | ||||
Liability Derivatives | $ (30,119) | ||||
Loss percentage of net assets | (0.40%) | ||||
SERIES A | Long Position | Financial | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 31,941 | $ 194,235 | |||
Gains percentage of net assets | 0.40% | 1.90% | |||
Liability Derivatives | $ (1,525) | $ (9,820) | |||
Loss percentage of net assets | (0.00%) | [1] | (0.10%) | ||
SERIES A | Long Position | Food & Fiber | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 24,650 | $ 15,355 | |||
Gains percentage of net assets | 0.30% | 0.10% | |||
Liability Derivatives | $ (71,684) | $ (28,710) | |||
Loss percentage of net assets | (0.90%) | (0.30%) | |||
SERIES A | Long Position | Indices | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 86,482 | $ 108,901 | |||
Gains percentage of net assets | 1.10% | 1.00% | |||
Liability Derivatives | $ (46,035) | $ (6,751) | |||
Loss percentage of net assets | (0.60%) | (0.10%) | |||
SERIES A | Long Position | Metals | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 19,838 | $ 20,662 | |||
Gains percentage of net assets | 0.30% | 0.20% | |||
Liability Derivatives | $ (12,445) | $ (67,465) | |||
Loss percentage of net assets | (0.20%) | (0.60%) | |||
SERIES A | Long Position | Livestock | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 8,080 | $ 1,830 | |||
Gains percentage of net assets | 0.10% | 0.00% | [1] | ||
Liability Derivatives | $ (80,300) | ||||
Loss percentage of net assets | (0.80%) | ||||
SERIES A | Long Position | Energy | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 19,673 | $ 134 | |||
Gains percentage of net assets | 0.30% | 0.00% | [1] | ||
Liability Derivatives | $ (4,940) | $ (58,050) | |||
Loss percentage of net assets | (0.10%) | (0.60%) | |||
SERIES A | Short Position | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 297,768 | $ 237,325 | |||
Gains percentage of net assets | 3.80% | 2.30% | |||
Liability Derivatives | $ (271,057) | $ (58,750) | |||
Loss percentage of net assets | (3.50%) | (0.50%) | |||
SERIES A | Short Position | Currency | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 37,040 | $ 29,064 | |||
Gains percentage of net assets | 0.50% | 0.30% | |||
Liability Derivatives | $ (59,172) | $ (256) | |||
Loss percentage of net assets | (0.80%) | (0.00%) | [1] | ||
SERIES A | Short Position | Financial | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 4,486 | ||||
Gains percentage of net assets | 0.10% | ||||
Liability Derivatives | $ (15,994) | $ (4,331) | |||
Loss percentage of net assets | (0.20%) | (0.00%) | [1] | ||
SERIES A | Short Position | Food & Fiber | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 73,127 | $ 41,104 | |||
Gains percentage of net assets | 0.90% | 0.40% | |||
Liability Derivatives | $ (18,694) | $ (13,563) | |||
Loss percentage of net assets | (0.20%) | (0.10%) | |||
SERIES A | Short Position | Indices | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 80,284 | $ 735 | |||
Gains percentage of net assets | 1.00% | 0.00% | [1] | ||
Liability Derivatives | $ (46,578) | $ (38,485) | |||
Loss percentage of net assets | (0.60%) | (0.40%) | |||
SERIES A | Short Position | Metals | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 18,053 | $ 85,212 | |||
Gains percentage of net assets | 0.20% | 0.80% | |||
Liability Derivatives | $ (62,758) | $ (2,115) | |||
Loss percentage of net assets | (0.80%) | (0.00%) | [1] | ||
SERIES A | Short Position | Livestock | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Liability Derivatives | $ (7,490) | ||||
Loss percentage of net assets | (0.10%) | ||||
SERIES A | Short Position | Energy | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 84,778 | $ 81,210 | |||
Gains percentage of net assets | 1.10% | 0.80% | |||
Liability Derivatives | $ (60,371) | ||||
Loss percentage of net assets | (0.80%) | ||||
[1] | Due to rounding - amount is less than 0.05% |
Average Contract Volume by Mark
Average Contract Volume by Market Sector (Detail) - Contract | Dec. 31, 2015 | Dec. 31, 2014 |
Long Position | ||
Derivative [Line Items] | ||
Average Number of Contracts | 9,516 | 26,260 |
Long Position | Currency | ||
Derivative [Line Items] | ||
Average Number of Contracts | 164 | 2,441 |
Long Position | Financial | ||
Derivative [Line Items] | ||
Average Number of Contracts | 3,441 | 11,912 |
Long Position | Food & Fiber | ||
Derivative [Line Items] | ||
Average Number of Contracts | 1,339 | 622 |
Long Position | Indices | ||
Derivative [Line Items] | ||
Average Number of Contracts | 2,675 | 6,994 |
Long Position | Metals | ||
Derivative [Line Items] | ||
Average Number of Contracts | 975 | 2,250 |
Long Position | Energy | ||
Derivative [Line Items] | ||
Average Number of Contracts | 540 | 1,579 |
Long Position | Livestock | ||
Derivative [Line Items] | ||
Average Number of Contracts | 382 | 462 |
Long Position | SERIES A | ||
Derivative [Line Items] | ||
Average Number of Contracts | 3,587 | 10,092 |
Long Position | SERIES A | Currency | ||
Derivative [Line Items] | ||
Average Number of Contracts | 65 | 946 |
Long Position | SERIES A | Financial | ||
Derivative [Line Items] | ||
Average Number of Contracts | 1,298 | 4,639 |
Long Position | SERIES A | Food & Fiber | ||
Derivative [Line Items] | ||
Average Number of Contracts | 518 | 234 |
Long Position | SERIES A | Indices | ||
Derivative [Line Items] | ||
Average Number of Contracts | 1,003 | 2,652 |
Long Position | SERIES A | Metals | ||
Derivative [Line Items] | ||
Average Number of Contracts | 363 | 858 |
Long Position | SERIES A | Energy | ||
Derivative [Line Items] | ||
Average Number of Contracts | 196 | 588 |
Long Position | SERIES A | Livestock | ||
Derivative [Line Items] | ||
Average Number of Contracts | 144 | 175 |
Long Position | SERIES B | ||
Derivative [Line Items] | ||
Average Number of Contracts | 5,929 | 16,168 |
Long Position | SERIES B | Currency | ||
Derivative [Line Items] | ||
Average Number of Contracts | 99 | 1,495 |
Long Position | SERIES B | Financial | ||
Derivative [Line Items] | ||
Average Number of Contracts | 2,143 | 7,273 |
Long Position | SERIES B | Food & Fiber | ||
Derivative [Line Items] | ||
Average Number of Contracts | 821 | 388 |
Long Position | SERIES B | Indices | ||
Derivative [Line Items] | ||
Average Number of Contracts | 1,672 | 4,342 |
Long Position | SERIES B | Metals | ||
Derivative [Line Items] | ||
Average Number of Contracts | 612 | 1,392 |
Long Position | SERIES B | Energy | ||
Derivative [Line Items] | ||
Average Number of Contracts | 344 | 991 |
Long Position | SERIES B | Livestock | ||
Derivative [Line Items] | ||
Average Number of Contracts | 238 | 287 |
Short Position | ||
Derivative [Line Items] | ||
Average Number of Contracts | 7,839 | 7,680 |
Short Position | Currency | ||
Derivative [Line Items] | ||
Average Number of Contracts | 891 | 1,447 |
Short Position | Financial | ||
Derivative [Line Items] | ||
Average Number of Contracts | 1,247 | 2,168 |
Short Position | Food & Fiber | ||
Derivative [Line Items] | ||
Average Number of Contracts | 1,470 | 788 |
Short Position | Indices | ||
Derivative [Line Items] | ||
Average Number of Contracts | 2,244 | 1,205 |
Short Position | Metals | ||
Derivative [Line Items] | ||
Average Number of Contracts | 978 | 1,370 |
Short Position | Energy | ||
Derivative [Line Items] | ||
Average Number of Contracts | 926 | 694 |
Short Position | Livestock | ||
Derivative [Line Items] | ||
Average Number of Contracts | 83 | 8 |
Short Position | SERIES A | ||
Derivative [Line Items] | ||
Average Number of Contracts | 3,056 | 2,948 |
Short Position | SERIES A | Currency | ||
Derivative [Line Items] | ||
Average Number of Contracts | 341 | 554 |
Short Position | SERIES A | Financial | ||
Derivative [Line Items] | ||
Average Number of Contracts | 499 | 866 |
Short Position | SERIES A | Food & Fiber | ||
Derivative [Line Items] | ||
Average Number of Contracts | 569 | 297 |
Short Position | SERIES A | Indices | ||
Derivative [Line Items] | ||
Average Number of Contracts | 863 | 461 |
Short Position | SERIES A | Metals | ||
Derivative [Line Items] | ||
Average Number of Contracts | 401 | 506 |
Short Position | SERIES A | Energy | ||
Derivative [Line Items] | ||
Average Number of Contracts | 352 | 260 |
Short Position | SERIES A | Livestock | ||
Derivative [Line Items] | ||
Average Number of Contracts | 31 | 4 |
Short Position | SERIES B | ||
Derivative [Line Items] | ||
Average Number of Contracts | 4,783 | 4,732 |
Short Position | SERIES B | Currency | ||
Derivative [Line Items] | ||
Average Number of Contracts | 550 | 893 |
Short Position | SERIES B | Financial | ||
Derivative [Line Items] | ||
Average Number of Contracts | 748 | 1,302 |
Short Position | SERIES B | Food & Fiber | ||
Derivative [Line Items] | ||
Average Number of Contracts | 901 | 491 |
Short Position | SERIES B | Indices | ||
Derivative [Line Items] | ||
Average Number of Contracts | 1,381 | 744 |
Short Position | SERIES B | Metals | ||
Derivative [Line Items] | ||
Average Number of Contracts | 577 | 864 |
Short Position | SERIES B | Energy | ||
Derivative [Line Items] | ||
Average Number of Contracts | 574 | 434 |
Short Position | SERIES B | Livestock | ||
Derivative [Line Items] | ||
Average Number of Contracts | 52 | 4 |
Funds Trading Results by Market
Funds Trading Results by Market Sector (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | $ 1,146,706 | $ 3,929,625 |
Change in Net Unrealized Gains (Losses) | (548,962) | (98,408) |
Net Trading Gains (Losses) | 597,744 | 3,831,217 |
Foreign Exchange | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 52,987 | (188,573) |
Change in Net Unrealized Gains (Losses) | 44 | |
Net Trading Gains (Losses) | 52,987 | (188,529) |
Currency | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 295,019 | 553,145 |
Change in Net Unrealized Gains (Losses) | (180,869) | (71,300) |
Net Trading Gains (Losses) | 114,150 | 481,845 |
Financial | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | (304,154) | 2,466,259 |
Change in Net Unrealized Gains (Losses) | (439,256) | 331,672 |
Net Trading Gains (Losses) | (743,410) | 2,797,931 |
Food & Fiber | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | (315,150) | 931,647 |
Change in Net Unrealized Gains (Losses) | 8,287 | (21,741) |
Net Trading Gains (Losses) | (306,863) | 909,906 |
Indices | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 436,090 | 906,369 |
Change in Net Unrealized Gains (Losses) | (16,514) | (399,926) |
Net Trading Gains (Losses) | 419,576 | 506,443 |
Metals | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 407,307 | (658,725) |
Change in Net Unrealized Gains (Losses) | (185,506) | 56,482 |
Net Trading Gains (Losses) | 221,801 | (602,243) |
Livestock | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | (824,090) | 553,240 |
Change in Net Unrealized Gains (Losses) | 207,540 | (192,740) |
Net Trading Gains (Losses) | (616,550) | 360,500 |
Energy | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 1,398,697 | (633,737) |
Change in Net Unrealized Gains (Losses) | 57,356 | 199,101 |
Net Trading Gains (Losses) | 1,456,053 | (434,636) |
SERIES B | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 709,118 | 2,437,362 |
Change in Net Unrealized Gains (Losses) | (341,296) | (73,953) |
Net Trading Gains (Losses) | 367,822 | 2,363,409 |
SERIES B | Foreign Exchange | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 34,434 | (107,964) |
Change in Net Unrealized Gains (Losses) | 32 | |
Net Trading Gains (Losses) | 34,434 | (107,932) |
SERIES B | Currency | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 196,972 | 357,959 |
Change in Net Unrealized Gains (Losses) | (110,112) | (44,972) |
Net Trading Gains (Losses) | 86,860 | 312,987 |
SERIES B | Financial | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | (189,470) | 1,535,624 |
Change in Net Unrealized Gains (Losses) | (278,082) | 213,664 |
Net Trading Gains (Losses) | (467,552) | 1,749,288 |
SERIES B | Food & Fiber | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | (198,833) | 580,030 |
Change in Net Unrealized Gains (Losses) | 15,074 | (18,000) |
Net Trading Gains (Losses) | (183,759) | 562,030 |
SERIES B | Indices | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 301,741 | 501,601 |
Change in Net Unrealized Gains (Losses) | (26,266) | (245,013) |
Net Trading Gains (Losses) | 275,475 | 256,588 |
SERIES B | Metals | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 224,348 | (433,286) |
Change in Net Unrealized Gains (Losses) | (111,900) | 23,792 |
Net Trading Gains (Losses) | 112,448 | (409,494) |
SERIES B | Livestock | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | (508,070) | 359,450 |
Change in Net Unrealized Gains (Losses) | 128,480 | (120,890) |
Net Trading Gains (Losses) | (379,590) | 238,560 |
SERIES B | Energy | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 847,996 | (356,052) |
Change in Net Unrealized Gains (Losses) | 41,510 | 117,434 |
Net Trading Gains (Losses) | 889,506 | (238,618) |
SERIES A | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 437,588 | 1,492,263 |
Change in Net Unrealized Gains (Losses) | (207,666) | (24,455) |
Net Trading Gains (Losses) | 229,922 | 1,467,808 |
SERIES A | Foreign Exchange | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 18,553 | (80,609) |
Change in Net Unrealized Gains (Losses) | 12 | |
Net Trading Gains (Losses) | 18,553 | (80,597) |
SERIES A | Currency | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 98,047 | 195,186 |
Change in Net Unrealized Gains (Losses) | (70,757) | (26,328) |
Net Trading Gains (Losses) | 27,290 | 168,858 |
SERIES A | Financial | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | (114,684) | 930,635 |
Change in Net Unrealized Gains (Losses) | (161,174) | 118,008 |
Net Trading Gains (Losses) | (275,858) | 1,048,643 |
SERIES A | Food & Fiber | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | (116,317) | 351,617 |
Change in Net Unrealized Gains (Losses) | (6,787) | (3,741) |
Net Trading Gains (Losses) | (123,104) | 347,876 |
SERIES A | Indices | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 134,349 | 404,768 |
Change in Net Unrealized Gains (Losses) | 9,752 | (154,913) |
Net Trading Gains (Losses) | 144,101 | 249,855 |
SERIES A | Metals | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 182,959 | (225,439) |
Change in Net Unrealized Gains (Losses) | (73,606) | 32,690 |
Net Trading Gains (Losses) | 109,353 | (192,749) |
SERIES A | Livestock | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | (316,020) | 193,790 |
Change in Net Unrealized Gains (Losses) | 79,060 | (71,850) |
Net Trading Gains (Losses) | (236,960) | 121,940 |
SERIES A | Energy | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net Realized Gains (Losses) | 550,701 | (277,685) |
Change in Net Unrealized Gains (Losses) | 15,846 | 81,667 |
Net Trading Gains (Losses) | $ 566,547 | $ (196,018) |
Due From To Brokers - Additiona
Due From To Brokers - Additional Information (Detail) | Dec. 31, 2015USD ($) |
Due to and from Broker-Dealers and Clearing Organizations [Abstract] | |
Due to Brokers | $ 0 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Superfund Capital Management | |||
Related Party Transaction [Line Items] | |||
Management Fee | 1.85% | ||
Operating expenses percentage | 0.15% | ||
Incentive fees | 25.00% | ||
Selling commissions percentage | 4.00% | ||
Maximum cumulative selling commission percentage | 10.00% | ||
Rebated selling commission | $ 11,695 | $ 11,190 | |
Combined value | 505,377 | 519,069 | |
(Gains) losses allocated to Units of Series A and Series B | $ 34,698 | $ 22,255 | |
SERIES A | |||
Related Party Transaction [Line Items] | |||
Incentive fees | [1] | 0.00% | 0.00% |
General partners ownership in capital accounts units issued percentage | 2.77% | 2.20% | |
SERIES A | Superfund Capital Management | |||
Related Party Transaction [Line Items] | |||
Rebated selling commission | $ 265,984 | ||
General partners ownership in capital accounts units issued | 178.298 | 178.298 | |
SERIES B | |||
Related Party Transaction [Line Items] | |||
Incentive fees | [1] | 0.00% | 0.00% |
General partners ownership in capital accounts units issued percentage | 3.53% | 2.60% | |
SERIES B | Superfund Capital Management | |||
Related Party Transaction [Line Items] | |||
Rebated selling commission | $ 324,055 | ||
General partners ownership in capital accounts units issued | 204.874 | 196.786 | |
General partners ownership in capital account units purchased For Series B | 8.087 | 8.488 | |
[1] | Total return is calculated for each Series of the Fund taken as a whole. An individual investor's return may vary from these returns based on the timing of capital transactions. |
Financial Highlights (Detail)
Financial Highlights (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
SERIES A | |||
Financial Highlights [Line Items] | |||
Total return before incentive fees | [1] | (4.90%) | 5.60% |
Incentive fees | [1] | 0.00% | 0.00% |
Total return after incentive fees | [1] | (4.90%) | 5.60% |
Ratio to average partners' capital, Operating expenses before incentive fees | 7.40% | 8.10% | |
Ratio to average partners' capital, Incentive fees | 0.00% | 0.00% | |
Ratio to average partners' capital, Total expenses | 7.40% | 8.10% | |
Net investment loss | (7.40%) | (8.10%) | |
Net asset value per unit, beginning of year | $ 1,283.60 | $ 1,215.27 | |
Net investment loss | (93.40) | (98.41) | |
Net gain on investments | 32.06 | 166.74 | |
Total income (loss) from operations | (61.34) | 68.33 | |
Net asset value per unit, end of year | 1,222.26 | 1,283.60 | |
Net decrease in net assets from operations per Unit (based upon weighted average number of Units during year) | [2] | (61.12) | 59.08 |
Net decrease in net assets from operations per Unit (based upon change in net asset value per Unit during year) | $ (61.34) | $ 68.33 | |
SERIES B | |||
Financial Highlights [Line Items] | |||
Total return before incentive fees | [1] | (4.30%) | 12.40% |
Incentive fees | [1] | 0.00% | 0.00% |
Total return after incentive fees | [1] | (4.30%) | 12.40% |
Ratio to average partners' capital, Operating expenses before incentive fees | 8.20% | 8.90% | |
Ratio to average partners' capital, Incentive fees | 0.00% | 0.00% | |
Ratio to average partners' capital, Total expenses | 8.20% | 8.90% | |
Net investment loss | (8.20%) | (8.90%) | |
Net asset value per unit, beginning of year | $ 1,462.68 | $ 1,300.97 | |
Net investment loss | (118.52) | (117.43) | |
Net gain on investments | 47.97 | 279.14 | |
Total income (loss) from operations | (70.55) | 161.71 | |
Net asset value per unit, end of year | 1,392.13 | 1,462.68 | |
Net decrease in net assets from operations per Unit (based upon weighted average number of Units during year) | [3] | (62.42) | 140.27 |
Net decrease in net assets from operations per Unit (based upon change in net asset value per Unit during year) | $ (70.55) | $ 161.71 | |
[1] | Total return is calculated for each Series of the Fund taken as a whole. An individual investor's return may vary from these returns based on the timing of capital transactions. | ||
[2] | Weighted average number of Units outstanding for Series A for the Years Ended December 31, 2015 and December 31, 2014: 7,016.95 and 9,074.29, respectively. | ||
[3] | Weighted average number of Units outstanding for Series B for the Years Ended December 31, 2015 and December 31, 2014: 6,448.63 and 8,930.45, respectively. |
Financial Instrument Risk - Add
Financial Instrument Risk - Additional Information (Detail) - Exchange Traded Futures | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Financial Instrument Risk [Line Items] | |
Gain On Derivative Instruments Pretax | $ 1,256,226 |
Loss On Derivative Instruments Pretax | 1,085,800 |
SERIES A | |
Financial Instrument Risk [Line Items] | |
Gain On Derivative Instruments Pretax | 498,732 |
Loss On Derivative Instruments Pretax | 437,805 |
SERIES B | |
Financial Instrument Risk [Line Items] | |
Gain On Derivative Instruments Pretax | 757,494 |
Loss On Derivative Instruments Pretax | $ 647,995 |
Subscriptions and Redemptions -
Subscriptions and Redemptions - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Initial investment amount | $ 4,420,419 | $ 9,923,216 |
Number of days for redemptions | 20 days | |
Net asset value per unit minimum decline rate | 50.00% | |
Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Initial investment amount | $ 1,000 | |
Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Initial investment amount | $ 10,000 | |
Partners capital account, number of days for a written request for redemptions | 5 days | |
Maximum | Special Redemption Period | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Partners capital account, maximum number of days to notify partners about special redemption event | 7 days |