Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2018shares | |
Document And Entity Information | |
Entity Registrant Name | Frontier Funds |
Entity Central Index Key | 1,261,379 |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2018 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Is Entity's Reporting Status Current? | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 0 |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2,018 |
Entity Emerging Growth Company | true |
Entity Small Business | false |
Entity Ex Transition Period | false |
Statements of Financial Conditi
Statements of Financial Condition (Unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and cash equivalents | $ 665,406 | $ 2,695,377 |
U.S. Treasury securities, at fair value | 9,591,613 | 10,887,786 |
Receivable from futures commission merchants | 10,714,941 | 20,584,602 |
Incentive fees receivable | 57,082 | 57,082 |
Open trade equity, at fair value | 346,726 | 1,568,414 |
Swap contracts, at fair value | 18,908,412 | 21,208,838 |
Investments in private investment companies, at fair value | 50,998,548 | 66,933,235 |
Interest receivable | 71,656 | 214,730 |
Due from Managing Owner | 31,887 | |
Receivable from related parties | 58,146 | |
Other assets | 93,479 | |
Total Assets | 91,447,863 | 124,240,097 |
LIABILITIES | ||
Owner redemptions payable | 321,128 | 76,773 |
Incentive fees payable to Managing Owner | 10,897 | 53,036 |
Management fees payable to Managing Owner | 79,601 | 90,972 |
Interest payable to Managing Owner | 22,088 | 26,007 |
Service fees payable to Managing Owner | 238,073 | 148,445 |
Trading fees payable to Managing Owner | 456,734 | 334,485 |
Risk analysis fees payable | 28,610 | 25,576 |
Advance on unrealized Swap Appreciation | 9,441,555 | 9,441,555 |
Other liabilities | 278,983 | |
Total Liabilities | 10,598,686 | 10,475,832 |
Managing Owner Units | 880,124 | 1,159,984 |
Limited Owner Units | 79,969,053 | 112,604,281 |
Total Owners' Capital | 80,849,177 | 113,764,265 |
Total Capital | 80,849,177 | 113,764,265 |
Total Liabilities and Capital | 91,447,863 | 124,240,097 |
Equinox Frontier Diversified Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | 65,101 | 189,890 |
U.S. Treasury securities, at fair value | 938,408 | 767,049 |
Swap contracts, at fair value | 5,575,997 | 6,376,472 |
Investments in private investment companies, at fair value | 11,859,099 | 14,501,510 |
Investments in unconsolidated trading companies, at fair value | 1,146,091 | 2,225,210 |
Interest receivable | 8,786 | 15,127 |
Total Assets | 19,593,482 | 24,075,258 |
LIABILITIES | ||
Owner redemptions payable | 73,079 | |
Incentive fees payable to Managing Owner | 10,897 | 12,847 |
Management fees payable to Managing Owner | 8,244 | 4,049 |
Service fees payable to Managing Owner | 4,552 | 3,614 |
Trading fees payable to Managing Owner | 47,283 | 61,188 |
Advance on unrealized Swap Appreciation | 2,500,000 | 2,500,000 |
Other liabilities | 4,966 | 26,873 |
Total Liabilities | 2,649,021 | 2,608,571 |
Total Owners' Capital | 16,944,461 | 21,466,687 |
Total Capital | 16,944,461 | 21,466,687 |
Total Liabilities and Capital | 19,593,482 | 24,075,258 |
Equinox Frontier Diversified Fund [Member] | Class 1 [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 1,740,332 | $ 2,332,222 |
Units Outstanding | 16,661 | 20,035 |
Net Asset Value per Unit | $ 104.46 | $ 116.41 |
Equinox Frontier Diversified Fund [Member] | Class 2 [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 3,056 | $ 3,361 |
Limited Owner Units | $ 7,858,881 | $ 9,629,385 |
Units Outstanding | 63,966 | 71,254 |
Net Asset Value per Unit | $ 122.91 | $ 135.19 |
Equinox Frontier Diversified Fund [Member] | Class 3 [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 175,263 | $ 213,164 |
Limited Owner Units | $ 7,166,929 | $ 9,288,555 |
Units Outstanding | 64,138 | 75,601 |
Net Asset Value per Unit | $ 114.47 | $ 125.68 |
Equinox Frontier Masters Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 35,548 | $ 411,695 |
U.S. Treasury securities, at fair value | 512,411 | 1,663,014 |
Investments in private investment companies, at fair value | 5,466,265 | 8,407,168 |
Investments in unconsolidated trading companies, at fair value | 969,945 | 1,501,142 |
Interest receivable | 5,212 | 32,798 |
Other assets | 2,973 | |
Total Assets | 6,989,381 | 12,018,790 |
LIABILITIES | ||
Owner redemptions payable | 114,816 | |
Management fees payable to Managing Owner | 7,494 | 8,949 |
Service fees payable to Managing Owner | 2,625 | 3,570 |
Trading fees payable to Managing Owner | 32,173 | 49,131 |
Other liabilities | 39,602 | |
Total Liabilities | 196,710 | 61,650 |
Total Owners' Capital | 6,792,671 | 11,957,140 |
Total Capital | 6,792,671 | 11,957,140 |
Total Liabilities and Capital | 6,989,381 | 12,018,790 |
Equinox Frontier Masters Fund [Member] | Class 1 [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 2,102,479 | $ 2,913,542 |
Units Outstanding | 21,629 | 25,393 |
Net Asset Value per Unit | $ 97.20 | $ 114.74 |
Equinox Frontier Masters Fund [Member] | Class 2 [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 54,571 | $ 87,344 |
Limited Owner Units | $ 1,477,956 | $ 3,451,256 |
Units Outstanding | 13,397 | 26,553 |
Net Asset Value per Unit | $ 114.39 | $ 133.27 |
Equinox Frontier Masters Fund [Member] | Class 3 [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 21,255 | $ 34,209 |
Limited Owner Units | $ 3,136,410 | $ 5,470,789 |
Units Outstanding | 29,515 | 44,254 |
Net Asset Value per Unit | $ 106.99 | $ 124.40 |
Equinox Frontier Long/Short Commodity Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 32,954 | $ 152,200 |
U.S. Treasury securities, at fair value | 475,024 | 614,803 |
Incentive fees receivable | 57,082 | 57,082 |
Swap contracts, at fair value | 471,942 | 397,039 |
Investments in private investment companies, at fair value | 1,948,076 | 3,018,571 |
Investments in unconsolidated trading companies, at fair value | 99,860 | 121,510 |
Interest receivable | 3,364 | 12,125 |
Other assets | 48,679 | 5,122 |
Total Assets | 3,136,981 | 4,378,452 |
LIABILITIES | ||
Owner redemptions payable | 6,185 | |
Interest payable to Managing Owner | 44 | 103 |
Service fees payable to Managing Owner | 66 | 172 |
Trading fees payable to Managing Owner | 6,259 | 9,125 |
Advance on unrealized Swap Appreciation | 115,000 | 115,000 |
Total Liabilities | 127,554 | 124,400 |
Total Owners' Capital | 3,009,427 | 4,254,052 |
Total Capital | 3,009,427 | 4,254,052 |
Total Liabilities and Capital | 3,136,981 | 4,378,452 |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | ||
LIABILITIES | ||
Managing Owner Units | 6,284 | 11,999 |
Limited Owner Units | $ 121,413 | $ 246,901 |
Units Outstanding | 1,233 | 2,236 |
Net Asset Value per Unit | $ 103.54 | $ 115.81 |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3 [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 2,010,934 | $ 2,472,994 |
Units Outstanding | 18,512 | 20,354 |
Net Asset Value per Unit | $ 108.62 | $ 121.50 |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1A [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 23,320 | $ 107,619 |
Units Outstanding | 353 | 1,323 |
Net Asset Value per Unit | $ 66.19 | $ 81.35 |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2A [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 23,759 | $ 34,112 |
Limited Owner Units | $ 259,051 | $ 408,532 |
Units Outstanding | 3,666 | 4,730 |
Net Asset Value per Unit | $ 77.15 | $ 93.59 |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3A [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 1,453 | $ 1,759 |
Limited Owner Units | $ 563,213 | $ 970,136 |
Units Outstanding | 6,978 | 9,918 |
Net Asset Value per Unit | $ 80.94 | $ 97.99 |
Equinox Frontier Balanced Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 105,108 | $ 164,332 |
U.S. Treasury securities, at fair value | 1,515,106 | 663,808 |
Receivable from futures commission merchants | 2,731,030 | 7,458,096 |
Open trade equity, at fair value | 178,552 | |
Swap contracts, at fair value | 9,850,185 | 11,340,959 |
Investments in private investment companies, at fair value | 24,170,470 | 30,501,895 |
Investments in unconsolidated trading companies, at fair value | 2,144,814 | 3,178,176 |
Interest receivable | 10,731 | 13,092 |
Due from Managing Owner | 184,106 | |
Total Assets | 40,527,444 | 53,683,016 |
LIABILITIES | ||
Open trade deficit, at fair value | 23,444 | |
Owner redemptions payable | 108,038 | 76,772 |
Incentive fees payable to Managing Owner | 40,189 | |
Management fees payable to Managing Owner | 23,019 | 11,465 |
Interest payable to Managing Owner | 3,591 | 2,528 |
Service fees payable to Managing Owner | 61,951 | 88,149 |
Trading fees payable to Managing Owner | 108,152 | 140,868 |
Risk analysis fees payable | 9,188 | 8,886 |
Advance on unrealized Swap Appreciation | 4,926,555 | 4,926,555 |
Other liabilities | 280,621 | 155,425 |
Total Liabilities | 5,544,559 | 5,450,837 |
Total Owners' Capital | 34,982,885 | 48,232,179 |
Total Capital | 34,982,885 | 48,232,179 |
Total Liabilities and Capital | 40,527,444 | 53,683,016 |
Equinox Frontier Balanced Fund [Member] | Class 1 [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 28,460,992 | $ 38,744,003 |
Units Outstanding | 237,546 | 284,956 |
Net Asset Value per Unit | $ 119.81 | $ 135.96 |
Equinox Frontier Balanced Fund [Member] | Class 2 [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 126,379 | $ 147,888 |
Limited Owner Units | $ 4,689,023 | $ 6,829,139 |
Units Outstanding | 26,326 | 34,386 |
Net Asset Value per Unit | $ 182.90 | $ 202.90 |
Equinox Frontier Balanced Fund [Member] | Class 2A [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 253,793 | $ 338,655 |
Limited Owner Units | $ 114,354 | $ 191,276 |
Units Outstanding | 2,323 | 3,015 |
Net Asset Value per Unit | $ 158.48 | $ 175.77 |
Equinox Frontier Balanced Fund [Member] | Class 3A [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 906,681 | $ 1,379,971 |
Units Outstanding | 5,741 | 7,877 |
Net Asset Value per Unit | $ 157.94 | $ 175.18 |
Equinox Frontier Balanced Fund [Member] | Class 1AP [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 431,663 | $ 601,247 |
Units Outstanding | 3,183 | 3,993 |
Net Asset Value per Unit | $ 135.63 | $ 150.56 |
Equinox Frontier Select Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 22,923 | $ 114,973 |
U.S. Treasury securities, at fair value | 330,422 | 464,427 |
Investments in private investment companies, at fair value | 3,443,015 | 5,579,229 |
Investments in unconsolidated trading companies, at fair value | 607,771 | 670,863 |
Interest receivable | 2,340 | 9,160 |
Other assets | 17,218 | |
Total Assets | 4,423,689 | 6,838,652 |
LIABILITIES | ||
Owner redemptions payable | 10,437 | |
Interest payable to Managing Owner | 765 | 1,358 |
Service fees payable to Managing Owner | 7,750 | 14,743 |
Trading fees payable to Managing Owner | 8,530 | 14,898 |
Other liabilities | 5,725 | |
Total Liabilities | 27,482 | 36,724 |
Total Owners' Capital | 4,396,207 | 6,801,928 |
Total Capital | 4,396,207 | 6,801,928 |
Total Liabilities and Capital | 4,423,689 | 6,838,652 |
Equinox Frontier Select Fund [Member] | Class 1 [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 4,179,762 | $ 5,912,980 |
Units Outstanding | 55,426 | 65,502 |
Net Asset Value per Unit | $ 75.41 | $ 90.27 |
Equinox Frontier Select Fund [Member] | Class 2 [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 48,594 | $ 70,295 |
Limited Owner Units | $ 149,946 | $ 795,299 |
Units Outstanding | 1,751 | 6,521 |
Net Asset Value per Unit | $ 113.40 | $ 132.73 |
Equinox Frontier Select Fund [Member] | Class 1AP [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 17,905 | $ 23,354 |
Units Outstanding | 210 | 233 |
Net Asset Value per Unit | $ 85.45 | $ 100.02 |
Equinox Frontier Winton Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 344,707 | $ 1,403,125 |
U.S. Treasury securities, at fair value | 4,968,843 | 5,667,825 |
Investments in unconsolidated trading companies, at fair value | 5,010,792 | 7,987,575 |
Interest receivable | 35,193 | 111,781 |
Receivable from related parties | 58,146 | |
Other assets | 18,359 | |
Total Assets | 10,377,894 | 15,228,452 |
LIABILITIES | ||
Owner redemptions payable | 7,649 | |
Management fees payable to Managing Owner | 34,474 | 53,039 |
Interest payable to Managing Owner | 15,770 | 20,992 |
Service fees payable to Managing Owner | 20,813 | 26,714 |
Trading fees payable to Managing Owner | 23,696 | 43,573 |
Due to Managing Owner | 152,219 | |
Other liabilities | 82,265 | |
Total Liabilities | 102,402 | 378,802 |
Total Owners' Capital | 10,275,492 | 14,849,650 |
Total Capital | 10,275,492 | 14,849,650 |
Total Liabilities and Capital | 10,377,894 | 15,228,452 |
Equinox Frontier Winton Fund [Member] | Class 1 [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 9,745,132 | $ 13,102,614 |
Units Outstanding | 66,740 | 82,367 |
Net Asset Value per Unit | $ 146.02 | $ 159.08 |
Equinox Frontier Winton Fund [Member] | Class 2 [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 118,515 | $ 153,552 |
Limited Owner Units | $ 376,508 | $ 1,555,723 |
Units Outstanding | 2,401 | 7,895 |
Net Asset Value per Unit | $ 206.20 | $ 216.50 |
Equinox Frontier Winton Fund [Member] | Class 1AP [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 35,337 | $ 37,761 |
Units Outstanding | 214 | 214 |
Net Asset Value per Unit | $ 165.51 | $ 176.44 |
Equinox Frontier Heritage Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 59,065 | $ 259,161 |
U.S. Treasury securities, at fair value | 851,399 | 1,046,861 |
Swap contracts, at fair value | 3,010,288 | 3,094,367 |
Investments in private investment companies, at fair value | 2,095,258 | 2,772,993 |
Investments in unconsolidated trading companies, at fair value | 910,059 | 1,546,974 |
Interest receivable | 6,030 | 20,647 |
Total Assets | 6,932,099 | 8,741,003 |
LIABILITIES | ||
Owner redemptions payable | 924 | |
Management fees payable to Managing Owner | 6,370 | 13,471 |
Interest payable to Managing Owner | 1,918 | 2,608 |
Service fees payable to Managing Owner | 10,001 | 11,483 |
Trading fees payable to Managing Owner | 11,980 | 15,703 |
Advance on unrealized Swap Appreciation | 1,900,000 | 1,900,000 |
Other liabilities | 14,563 | 16,038 |
Total Liabilities | 1,945,756 | 1,959,303 |
Total Owners' Capital | 4,448,034 | 6,202,626 |
Non-Controlling Interests | 538,309 | 579,074 |
Total Capital | 4,986,343 | 6,781,700 |
Total Liabilities and Capital | 6,932,099 | 8,741,003 |
Equinox Frontier Heritage Fund [Member] | Class 1 [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 3,805,123 | $ 5,435,871 |
Units Outstanding | 37,636 | 44,855 |
Net Asset Value per Unit | $ 101.10 | $ 121.19 |
Equinox Frontier Heritage Fund [Member] | Class 2 [Member] | ||
LIABILITIES | ||
Managing Owner Units | $ 47,202 | $ 63,646 |
Limited Owner Units | $ 594,698 | $ 697,026 |
Units Outstanding | 4,187 | 4,233 |
Net Asset Value per Unit | $ 153.31 | $ 179.70 |
Equinox Frontier Heritage Fund [Member] | Class 1AP [Member] | ||
LIABILITIES | ||
Limited Owner Units | $ 1,011 | $ 6,083 |
Units Outstanding | 9 | 45 |
Net Asset Value per Unit | $ 114.58 | $ 134.28 |
Schedule - Condensed Schedule o
Schedule - Condensed Schedule of Investments (Unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 | |||
Swap [Member] | |||||
Investment Owned, Fair Value | $ 18,908,412 | [1] | $ 21,208,838 | ||
Investment Owned, % of Total Capital (Net Asset Value) | 23.38% | [1] | 18.64% | ||
Swap [Member] | Frontier XXXV Diversified Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ 5,575,997 | [1] | $ 6,376,472 | ||
Investment Owned, % of Total Capital (Net Asset Value) | 6.90% | [1] | 5.60% | ||
Swap [Member] | Frontier XXXVII L/S Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ 471,942 | [1] | $ 397,039 | ||
Investment Owned, % of Total Capital (Net Asset Value) | 0.58% | [1] | 0.35% | ||
Swap [Member] | Frontier XXXIV Balanced Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ 9,850,185 | [1] | $ 11,340,960 | ||
Investment Owned, % of Total Capital (Net Asset Value) | 12.18% | [1] | 9.97% | ||
Swap [Member] | Frontier Brevan Howard Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ 3,010,288 | [1] | $ 3,094,367 | ||
Investment Owned, % of Total Capital (Net Asset Value) | 3.72% | [1] | 2.72% | ||
Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [2] | $ 50,998,548 | $ 66,933,235 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 63.09% | 58.84% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 6,063,170 | $ 6,507,863 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 7.50% | 5.72% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 3,356,591 | $ 3,759,970 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 4.15% | 3.31% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 5,285,097 | $ 7,523,327 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 6.54% | 6.61% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 4,824,012 | $ 6,607,668 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 5.97% | 5.81% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 6,246,313 | $ 6,204,663 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 7.73% | 5.45% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 1,452,297 | $ 1,919,350 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 1.80% | 1.69% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 686,691 | $ 759,647 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 0.85% | 0.67% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 16,717,851 | $ 23,045,760 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 20.68% | 20.26% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 1,094,259 | $ 1,483,477 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 1.35% | 1.30% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - Chesapeake Feeder Fund (518) [Member] | |||||
Investment Owned, Fair Value | [2] | $ 1,774,375 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 1.56% | |||
Private Investment Companies [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 3,255,902 | $ 5,195,266 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 4.03% | 4.57% | ||
Private Investment Companies [Member] | Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC [Member] | |||||
Investment Owned, Fair Value | [2] | $ 2,016,365 | $ 2,151,869 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 2.49% | 1.89% | ||
US Treasury Securities [Member] | |||||
Investment Owned, Fair Value | $ 9,591,613 | $ 10,887,786 | |||
Investment Owned, % of Total Capital (Net Asset Value) | 11.86% | 9.57% | |||
US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | |||||
Investment Owned, Fair Value | $ 9,591,613 | $ 10,887,786 | |||
Investment Owned, % of Total Capital (Net Asset Value) | 11.86% | 9.57% | |||
Investment Owned, Underlying Face Amount, at Market Value | $ 7,737,000 | $ 8,269,000 | |||
Long Futures Contracts [Member] | |||||
Investment Owned, Fair Value | [3] | $ (57,869) | $ 1,707,585 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.05%) | 1.50% | ||
Long Futures Contracts [Member] | Various agriculture futures contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (2,265) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Long Futures Contracts [Member] | Various agriculture futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 2,310 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Long Futures Contracts [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (85,792) | $ 1,088,822 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.11%) | 0.96% | ||
Long Futures Contracts [Member] | Various Energy Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 149,308 | $ 513,613 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.18% | 0.45% | ||
Long Futures Contracts [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (98,875) | $ (118,226) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.12%) | (0.10%) | ||
Long Futures Contracts [Member] | Various Stock Index Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 18,675 | $ (104,638) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.02% | (0.09%) | ||
Long Futures Contracts [Member] | Various Stock Index Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 37,635 | $ 96,403 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.05% | 0.08% | ||
Long Futures Contracts [Member] | Various agriculture futures contracts (Canada) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (173) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Long Futures Contracts [Member] | Various Interest Rates Futures Contracts (Canada) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (3,340) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Long Futures Contracts [Member] | Various Interest Rates Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (3,610) | $ (4,756) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | 0.00% | ||
Long Futures Contracts [Member] | Various Interest Rates Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (90,328) | $ (25,875) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.11%) | (0.02%) | ||
Long Futures Contracts [Member] | Various Precious Metal Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 4,870 | $ 18,190 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.01% | 0.02% | ||
Long Futures Contracts [Member] | Various Soft Futures Contract (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (51,765) | $ 55,621 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.06%) | 0.05% | ||
Long Futures Contracts [Member] | Various Stock Index Futures Contracts (Africa) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 4,465 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Long Futures Contracts [Member] | Various Interest Rates Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (11,160) | $ (23,380) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.01%) | (0.02%) | ||
Long Futures Contracts [Member] | Various Stock Index Futures Contracts (Canada) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 5,605 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Long Futures Contracts [Member] | Various Stock Index Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 4,107 | $ 2,815 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.01% | 0.00% | ||
Long Futures Contracts [Member] | Various Stock Index Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 31,544 | $ 197,228 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.04% | 0.17% | ||
Long Futures Contracts [Member] | Various Currency Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (52,460) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.05%) | |||
Long Futures Contracts [Member] | Various Soft Futures Contract (Europe) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (372) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Long Futures Contracts [Member] | Various Currency Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 5,110 | $ 27,263 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.01% | 0.02% | ||
Long Futures Contracts [Member] | Various currency futures contracts (Latin America) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 35,880 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.04% | |||
Long Futures Contracts [Member] | Various Currency Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 20,670 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.02% | |||
Long Futures Contracts [Member] | Various Currency Futures Contracts (Canada) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 18,470 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.02% | |||
Long Futures Contracts [Member] | Various Energy Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (11,873) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.01%) | |||
Short Futures Contracts [Member] | |||||
Investment Owned, Fair Value | [3] | $ 703,066 | $ (561,645) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.86% | (0.50%) | ||
Short Futures Contracts [Member] | Various agriculture futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (38,870) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.05%) | |||
Short Futures Contracts [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (13,753) | $ (411,270) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.02%) | (0.36%) | ||
Short Futures Contracts [Member] | Various Energy Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (37,980) | $ (77,171) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.05%) | (0.07%) | ||
Short Futures Contracts [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 25,411 | $ (6,824) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.03% | (0.01%) | ||
Short Futures Contracts [Member] | Various Stock Index Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (1,465) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Short Futures Contracts [Member] | Various agriculture futures contracts (Canada) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 84,444 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.10% | |||
Short Futures Contracts [Member] | Various Interest Rates Futures Contracts (Canada) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 7,731 | $ (4,439) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.01% | 0.00% | ||
Short Futures Contracts [Member] | Various Interest Rates Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,761 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Short Futures Contracts [Member] | Various Interest Rates Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 64,383 | $ 104,111 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.08% | 0.09% | ||
Short Futures Contracts [Member] | Various Precious Metal Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 162,150 | $ (153,585) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.20% | (0.14%) | ||
Short Futures Contracts [Member] | Various Soft Futures Contract (Far East) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,101 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Short Futures Contracts [Member] | Various Soft Futures Contract (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 255,560 | $ 93,576 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.32% | 0.08% | ||
Short Futures Contracts [Member] | Various Stock Index Futures Contracts (Africa) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 2,471 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Short Futures Contracts [Member] | Various Interest Rates Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,509 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
Short Futures Contracts [Member] | Various Stock Index Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 14,481 | $ (45,128) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.02% | (0.04%) | ||
Short Futures Contracts [Member] | Various Currency Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 40,897 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.04% | |||
Short Futures Contracts [Member] | Various Soft Futures Contract (Europe) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 35,920 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.03% | |||
Short Futures Contracts [Member] | Various Currency Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 19,481 | $ (89,175) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.02% | (0.08%) | ||
Short Futures Contracts [Member] | Various Currency Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 191,075 | $ (50,066) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.24% | (0.04%) | ||
Short Futures Contracts [Member] | Various Currency Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (34,915) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.04%) | |||
Currency Forwards [Member] | |||||
Investment Owned, Fair Value | [3] | $ (298,471) | $ 422,474 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.37%) | 0.37% | ||
Currency Forwards [Member] | Various Currency Forwards Contracts (NA) [Member] | |||||
Investment Owned, Fair Value | [3] | $ (298,471) | $ 422,474 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | (0.37%) | 0.37% | ||
Total Open Trade Equity (Deficit) [Member] | |||||
Investment Owned, Fair Value | [3] | $ 346,726 | $ 1,568,414 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.44% | 1.37% | ||
Equinox Frontier Diversified Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [4] | $ 5,575,997 | $ 6,376,472 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [4] | 32.91% | 29.70% | ||
Equinox Frontier Diversified Fund [Member] | Swap [Member] | Frontier XXXV Diversified Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [4] | $ 5,575,997 | $ 6,376,472 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [4] | 32.91% | 29.70% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 11,859,099 | $ 14,501,510 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 69.99% | 67.54% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,476,849 | $ 1,447,461 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 8.72% | 6.74% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,252,158 | $ 1,253,230 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 7.39% | 5.84% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,815,491 | $ 1,713,788 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 10.71% | 7.98% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,502,795 | $ 2,203,960 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 8.87% | 10.27% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 2,014,288 | $ 2,067,025 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 11.89% | 9.63% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 381,970 | $ 479,522 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 2.25% | 2.23% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 343,205 | $ 379,664 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 2.03% | 1.77% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 2,966,027 | $ 4,343,060 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 17.50% | 20.23% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 106,316 | $ 129,058 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 0.63% | 0.60% | ||
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Chesapeake Feeder Fund (518) [Member] | |||||
Investment Owned, Fair Value | [5] | $ 484,742 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 2.26% | |||
Equinox Frontier Diversified Fund [Member] | Investment In Unconsolidated Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,146,091 | $ 2,225,210 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 6.76% | 10.37% | ||
Equinox Frontier Diversified Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 197,274 | $ 151,600 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 1.16% | 0.71% | ||
Equinox Frontier Diversified Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company II, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 948,817 | $ 2,073,610 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 5.60% | 9.66% | ||
Equinox Frontier Diversified Fund [Member] | US Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [6] | $ 938,408 | $ 767,049 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 5.54% | 3.57% | ||
Equinox Frontier Diversified Fund [Member] | US Treasury Securities [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 756,959 | $ 582,555 | ||
Investment Owned, at Cost | [6] | 960,135 | 774,221 | ||
Equinox Frontier Diversified Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | |||||
Investment Owned, Fair Value | [6] | $ 938,408 | $ 767,049 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 5.54% | 3.57% | ||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 7,737,000 | $ 9,000,000 | ||
Equinox Frontier Diversified Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | 756,959 | 582,555 | ||
Investment Owned, at Cost | [6] | 960,135 | 774,221 | ||
Equinox Frontier Masters Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 5,466,265 | $ 8,407,168 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 80.47% | 70.31% | ||
Equinox Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,337,703 | $ 1,588,149 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 19.69% | 13.28% | ||
Equinox Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 2,466,918 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 36.32% | |||
Equinox Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,661,644 | $ 3,203,382 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 24.46% | 26.79% | ||
Equinox Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Chesapeake Feeder Fund (518) [Member] | |||||
Investment Owned, Fair Value | [5] | $ 967,528 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 8.09% | |||
Equinox Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 2,648,109 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 22.15% | |||
Equinox Frontier Masters Fund [Member] | Investment In Unconsolidated Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 969,945 | $ 1,501,142 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 14.28% | 12.55% | ||
Equinox Frontier Masters Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 107,720 | $ 328,679 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 1.59% | 2.75% | ||
Equinox Frontier Masters Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company II, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 862,225 | $ 1,172,463 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 12.69% | 9.81% | ||
Equinox Frontier Masters Fund [Member] | US Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [6] | $ 512,411 | $ 1,663,014 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 7.54% | 13.91% | ||
Equinox Frontier Masters Fund [Member] | US Treasury Securities [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 413,332 | $ 1,263,017 | ||
Investment Owned, at Cost | [6] | 524,275 | 1,678,562 | ||
Equinox Frontier Masters Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | |||||
Investment Owned, Fair Value | [6] | $ 512,411 | $ 1,663,014 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 7.54% | 13.91% | ||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 7,737,000 | $ 9,000,000 | ||
Equinox Frontier Masters Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | 413,332 | 1,263,017 | ||
Investment Owned, at Cost | [6] | 524,275 | 1,678,562 | ||
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [4] | $ 471,942 | $ 397,039 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [4] | 15.68% | 9.33% | ||
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member] | Frontier XXXVII L/S Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [4] | $ 471,942 | $ 397,039 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [4] | 15.68% | 9.33% | ||
Equinox Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,948,076 | $ 3,018,571 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 64.73% | 70.96% | ||
Equinox Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 427,126 | $ 576,154 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 14.19% | 13.54% | ||
Equinox Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 788,388 | $ 1,024,222 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 26.20% | 24.08% | ||
Equinox Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 732,562 | $ 1,096,090 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 24.34% | 25.77% | ||
Equinox Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Chesapeake Feeder Fund (518) [Member] | |||||
Investment Owned, Fair Value | [5] | $ 322,105 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 7.57% | |||
Equinox Frontier Long/Short Commodity Fund [Member] | Investment In Unconsolidated Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 99,860 | $ 121,510 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 3.32% | 2.86% | ||
Equinox Frontier Long/Short Commodity Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 99,860 | $ 121,510 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 3.32% | 2.86% | ||
Equinox Frontier Long/Short Commodity Fund [Member] | US Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [6] | $ 475,024 | $ 614,803 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 15.78% | 14.45% | ||
Equinox Frontier Long/Short Commodity Fund [Member] | US Treasury Securities [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 383,175 | $ 466,927 | ||
Investment Owned, at Cost | [6] | 486,023 | 620,551 | ||
Equinox Frontier Long/Short Commodity Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | |||||
Investment Owned, Fair Value | [6] | $ 475,024 | $ 614,803 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 15.78% | 14.45% | ||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 9,000,000 | |||
Equinox Frontier Long/Short Commodity Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 383,175 | 466,927 | ||
Investment Owned, at Cost | [6] | 486,023 | 620,551 | ||
Equinox Frontier Balanced Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [4] | $ 9,850,185 | $ 11,340,959 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [4] | 28.16% | 23.51% | ||
Equinox Frontier Balanced Fund [Member] | Swap [Member] | Frontier XXXIV Balanced Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [4] | $ 9,850,185 | $ 11,340,959 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [4] | 28.16% | 23.51% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 24,170,471 | $ 30,501,895 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 69.09% | 63.23% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 2,821,492 | $ 2,896,099 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 8.07% | 6.00% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 2,104,433 | $ 2,506,740 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 6.02% | 5.20% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 3,469,606 | $ 5,809,539 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 9.92% | 12.04% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 3,321,217 | $ 4,403,708 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 9.49% | 9.13% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 4,232,025 | $ 4,137,638 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 12.10% | 8.58% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,070,327 | $ 1,439,828 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 3.06% | 2.99% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 343,487 | $ 379,983 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 0.98% | 0.79% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 6,552,503 | $ 8,670,031 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 18.73% | 17.98% | ||
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 255,381 | $ 258,329 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 0.73% | 0.54% | ||
Equinox Frontier Balanced Fund [Member] | Investment In Unconsolidated Companies [Member] | |||||
Investment Owned, Fair Value | $ 2,144,814 | [5] | $ 3,178,176 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 6.13% | [5] | 6.60% | [6] | |
Equinox Frontier Balanced Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [6] | $ 131,195 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.27% | |||
Equinox Frontier Balanced Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company II, LLC [Member] | |||||
Investment Owned, Fair Value | $ 1,826,306 | [5] | $ 3,046,981 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 5.22% | [5] | 6.32% | [6] | |
Equinox Frontier Balanced Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company XXXIX, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 318,508 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 0.91% | |||
Equinox Frontier Balanced Fund [Member] | US Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [6] | $ 1,515,106 | $ 663,808 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 4.33% | 1.38% | ||
Equinox Frontier Balanced Fund [Member] | US Treasury Securities [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 1,222,149 | $ 504,145 | ||
Investment Owned, at Cost | [6] | 1,550,186 | 670,014 | ||
Equinox Frontier Balanced Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | |||||
Investment Owned, Fair Value | [6] | $ 1,515,106 | $ 663,808 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 4.33% | 1.38% | ||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 7,737,000 | $ 9,000,000 | ||
Equinox Frontier Balanced Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | 1,222,149 | 504,145 | ||
Investment Owned, at Cost | [6] | 1,550,186 | 670,014 | ||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | |||||
Investment Owned, Fair Value | [7] | $ 67,429 | $ 184,455 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.20% | 0.39% | ||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various agriculture futures contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [7] | $ (2,512) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | (0.01%) | |||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various agriculture futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 1,580 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.00% | |||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 3,613 | $ 61,371 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.01% | 0.13% | ||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Energy Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 22,560 | $ 96,294 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.06% | 0.20% | ||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 40,355 | $ 3,733 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.12% | 0.01% | ||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Stock Index Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [7] | $ (1,774) | $ (237) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | (0.01%) | 0.00% | ||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Stock Index Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 3,607 | $ 5,757 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.01% | 0.01% | ||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Interest Rates Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [7] | $ (1,776) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.00% | |||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Soft Futures Contract (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 31,613 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.07% | |||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Interest Rates Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [7] | $ (15,653) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | (0.03%) | |||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Stock Index Futures Contracts (Canada) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 4,274 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.01% | |||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Stock Index Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [7] | $ (1,525) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.00% | |||
Equinox Frontier Balanced Fund [Member] | Long Futures Contracts [Member] | Various Stock Index Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 604 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.00% | |||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | |||||
Investment Owned, Fair Value | [7] | $ 80,511 | $ (39,472) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.22% | (0.09%) | ||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ (13,238) | $ (66,901) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | (0.04%) | (0.14%) | ||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Energy Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ (28,561) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | (0.06%) | |||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various agriculture futures contracts (Canada) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 22,220 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.06% | |||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Interest Rates Futures Contracts (Canada) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 7,731 | $ (5,167) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.02% | (0.01%) | ||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Interest Rates Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 1,761 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.01% | |||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Interest Rates Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 20,016 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.06% | |||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Precious Metal Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 3,945 | $ (12,435) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.01% | (0.03%) | ||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Soft Futures Contract (Far East) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 1,101 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.00% | |||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Soft Futures Contract (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 35,385 | $ 18,277 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.10% | 0.04% | ||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Stock Index Futures Contracts (Africa) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 1,590 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.00% | |||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Interest Rates Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 1,509 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.00% | |||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Currency Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 40,897 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.08% | |||
Equinox Frontier Balanced Fund [Member] | Short Futures Contracts [Member] | Various Soft Futures Contract (Europe) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 12,909 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 0.03% | |||
Equinox Frontier Balanced Fund [Member] | Currency Forwards [Member] | |||||
Investment Owned, Fair Value | [7] | $ (171,384) | $ 33,569 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | (0.49%) | 0.07% | ||
Equinox Frontier Balanced Fund [Member] | Currency Forwards [Member] | Various Currency Forwards Contracts (NA) [Member] | |||||
Investment Owned, Fair Value | [7] | $ (171,384) | $ 33,569 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | (0.49%) | 0.07% | ||
Equinox Frontier Balanced Fund [Member] | Total Open Trade Equity (Deficit) [Member] | |||||
Investment Owned, Fair Value | [7] | $ (23,444) | $ 178,552 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | (0.07%) | 0.37% | ||
Equinox Frontier Select Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 3,443,015 | $ 5,579,229 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 78.32% | 82.02% | ||
Equinox Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,848,757 | $ 3,032,072 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 42.05% | 44.58% | ||
Equinox Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,594,258 | $ 2,547,157 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 36.26% | 37.45% | ||
Equinox Frontier Select Fund [Member] | Investment In Unconsolidated Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 607,771 | $ 670,863 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 13.82% | 9.87% | ||
Equinox Frontier Select Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 69,462 | $ 91,790 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 1.58% | 1.35% | ||
Equinox Frontier Select Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company XXXIX, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 538,309 | $ 579,073 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 12.24% | 8.51% | ||
Equinox Frontier Select Fund [Member] | US Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [6] | $ 330,422 | $ 464,427 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 7.52% | 6.83% | ||
Equinox Frontier Select Fund [Member] | US Treasury Securities [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 266,532 | $ 352,721 | ||
Investment Owned, at Cost | [6] | 338,072 | 468,769 | ||
Equinox Frontier Select Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | |||||
Investment Owned, Fair Value | [6] | $ 330,422 | $ 464,427 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 7.52% | 6.83% | ||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 7,737,000 | $ 9,000,000 | ||
Equinox Frontier Select Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | 266,532 | 352,721 | ||
Investment Owned, at Cost | [6] | 338,072 | 468,769 | ||
Equinox Frontier Winton Fund [Member] | Investment In Unconsolidated Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 5,010,782 | $ 7,987,575 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 48.77% | 53.79% | ||
Equinox Frontier Winton Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 1,044,558 | $ 1,120,192 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 10.17% | 7.54% | ||
Equinox Frontier Winton Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company II, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 3,966,234 | $ 6,867,383 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 38.60% | 46.25% | ||
Equinox Frontier Winton Fund [Member] | US Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [6] | $ 4,968,843 | $ 5,667,825 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 48.36% | 38.17% | ||
Equinox Frontier Winton Fund [Member] | US Treasury Securities [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 4,008,078 | $ 4,304,570 | ||
Investment Owned, at Cost | [6] | 5,083,887 | 5,720,817 | ||
Equinox Frontier Winton Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | |||||
Investment Owned, Fair Value | [6] | $ 4,968,843 | $ 5,667,825 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 48.36% | 38.17% | ||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 7,737,000 | $ 9,000,000 | ||
Equinox Frontier Winton Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | 4,008,078 | 4,304,570 | ||
Investment Owned, at Cost | [6] | 5,083,887 | 5,720,817 | ||
Equinox Frontier Heritage Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [4] | $ 3,010,288 | $ 3,094,367 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [4] | 60.37% | 45.63% | ||
Equinox Frontier Heritage Fund [Member] | Swap [Member] | Frontier Brevan Howard Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [4] | $ 3,010,288 | $ 3,094,367 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [4] | 60.37% | 45.63% | ||
Equinox Frontier Heritage Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 2,095,258 | $ 2,772,993 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 42.02% | 40.89% | ||
Equinox Frontier Heritage Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 2,095,258 | $ 2,772,993 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 42.02% | 40.89% | ||
Equinox Frontier Heritage Fund [Member] | Investment In Unconsolidated Companies [Member] | |||||
Investment Owned, Fair Value | [5] | $ 910,059 | $ 1,546,974 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 18.25% | 22.81% | ||
Equinox Frontier Heritage Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 178,982 | $ 206,903 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 3.59% | 3.05% | ||
Equinox Frontier Heritage Fund [Member] | Investment In Unconsolidated Companies [Member] | Equinox Frontier Trading Company II, LLC [Member] | |||||
Investment Owned, Fair Value | [5] | $ 731,077 | $ 1,340,071 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 14.66% | 19.76% | ||
Equinox Frontier Heritage Fund [Member] | US Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [6] | $ 851,399 | $ 1,046,861 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 17.07% | 15.44% | ||
Equinox Frontier Heritage Fund [Member] | US Treasury Securities [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 686,775 | $ 795,065 | ||
Investment Owned, at Cost | [6] | 871,112 | 1,056,649 | ||
Equinox Frontier Heritage Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | |||||
Investment Owned, Fair Value | [6] | $ 851,399 | $ 1,046,861 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 17.07% | 15.44% | ||
Investment Owned, Underlying Face Amount, at Market Value | [6] | $ 7,737,000 | $ 9,000,000 | ||
Equinox Frontier Heritage Fund [Member] | US Treasury Securities [Member] | US Treasury Note Six Point Eight Seven Five Percent [Member] | Additional [Member] | |||||
Investment Owned, Underlying Face Amount, at Market Value | [6] | 686,775 | 795,065 | ||
Investment Owned, at Cost | [6] | $ 871,112 | $ 1,056,649 | ||
[1] | See Notes to Consolidated Financial Statements, Note 4. | ||||
[2] | See Notes to Consolidated Financial Statements, Note 5. | ||||
[3] | Except for those items disclosed, no individual futures, forwards and option on futures contract position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented. | ||||
[4] | See Note 4 to the Financial Statements. | ||||
[5] | See Note 5 to the Financial Statements. | ||||
[6] | See Note 2 to the Financial Statements. | ||||
[7] | Except for those items disclosed, no individual futures, or forwards position constituted greater than 1 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented. |
Schedule - Condensed Schedule_2
Schedule - Condensed Schedule of Investments (Parenthetical) - US Treasury Securities [Member] - US Treasury Note Six Point Eight Seven Five Percent [Member] - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | ||
Rate | 6.875% | 6.875% | |
Debt Instrument, Maturity Date | Aug. 15, 2025 | Aug. 15, 2025 | |
Cost | $ 9,813,689 | $ 10,985,078 | |
Equinox Frontier Diversified Fund [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Cost | [1] | $ 9,813,689 | $ 12,218,715 |
Equinox Frontier Diversified Fund [Member] | Additional [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Equinox Frontier Masters Fund [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Cost | [1] | $ 9,813,689 | $ 12,218,715 |
Equinox Frontier Masters Fund [Member] | Additional [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Equinox Frontier Long/Short Commodity Fund [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Cost | [1] | $ 9,813,689 | $ 12,218,715 |
Equinox Frontier Long/Short Commodity Fund [Member] | Additional [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Equinox Frontier Balanced Fund [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Cost | [1] | $ 9,813,689 | $ 12,218,715 |
Equinox Frontier Balanced Fund [Member] | Additional [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Equinox Frontier Select Fund [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Cost | [1] | $ 9,813,689 | $ 12,218,715 |
Equinox Frontier Select Fund [Member] | Additional [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Equinox Frontier Winton Fund [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Cost | [1] | $ 9,813,689 | $ 12,218,715 |
Equinox Frontier Winton Fund [Member] | Additional [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Equinox Frontier Heritage Fund [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
Cost | [1] | $ 9,813,689 | $ 12,218,715 |
Equinox Frontier Heritage Fund [Member] | Additional [Member] | |||
Rate | [1] | 6.875% | 6.875% |
Debt Instrument, Maturity Date | [1] | Aug. 15, 2025 | Aug. 15, 2025 |
[1] | See Note 2 to the Financial Statements. |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Investment income/(loss): | ||||
Interest - net | $ 58,726 | $ 42,985 | $ 175,283 | $ 200,963 |
Total Income | 58,726 | 42,985 | 175,283 | 200,963 |
Expenses: | ||||
Incentive Fees | 10,897 | 159,306 | (205,571) | |
Management Fees | 189,058 | 297,987 | 650,179 | 1,263,162 |
Risk analysis Fees | 21,032 | 31,067 | 64,753 | 116,226 |
Trading Fees | 733,788 | 1,080,095 | 2,366,003 | 4,206,610 |
Other Fees | (2,428) | 220,622 | ||
Total Expenses | 1,341,778 | 1,963,487 | 4,504,342 | 7,590,826 |
Investment (loss) - net | (1,283,052) | (1,920,502) | (4,329,059) | (7,389,863) |
Realized and unrealized gain/(loss) on investments: | ||||
Net change in open trade equity/(deficit) | (713,117) | 691,294 | (1,227,357) | (2,179,533) |
Trading commissions | (23,961) | (24,044) | (75,709) | (142,453) |
Net gain/(loss) on investments | (1,356,240) | 355,166 | (8,136,203) | (937,196) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (2,639,292) | (1,565,336) | (12,465,262) | (8,327,059) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | (12,465,262) | |||
Class 1 [Member] | ||||
Expenses: | ||||
Service Fees | 387,003 | 556,766 | 1,264,101 | 1,989,777 |
Swap [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net unrealized gain/(loss) on investments | (788,755) | 663,203 | 799,575 | 94,319 |
US Treasury Securities [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (98,396) | (500,063) | (2,129,137) | |
Net unrealized gain/(loss) on investments | (16) | (22,945) | 21,003 | 2,857,993 |
Futures And Forwards [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | 1,175,855 | (194,202) | 1,136,964 | (211,381) |
Private Investment Companies [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (146,345) | 1,291,678 | 277,090 | 6,098,199 |
Net unrealized gain/(loss) on investments | (761,505) | (2,049,818) | (8,567,706) | (5,325,203) |
Equinox Frontier Diversified Fund [Member] | ||||
Investment income/(loss): | ||||
Interest - net | 9,370 | 1,825 | 27,408 | 99,222 |
Total Income | 9,370 | 1,825 | 27,408 | 99,222 |
Expenses: | ||||
Operating expenses | 12,778 | (63,508) | ||
Incentive Fees | 10,897 | |||
Management Fees | 13,113 | 13,509 | 37,905 | 69,251 |
Trading Fees | 145,750 | 221,452 | 454,513 | 1,154,233 |
Other Fees | 1,766 | |||
Total Expenses | 184,192 | 259,545 | 550,432 | 1,272,511 |
Investment (loss) - net | (174,822) | (257,720) | (523,024) | (1,173,289) |
Realized and unrealized gain/(loss) on investments: | ||||
Change in fair value of investments in unconsolidated trading companies | 36,144 | 32,229 | 40,546 | (311,775) |
Net gain/(loss) on investments | (403,356) | 68,284 | (1,380,601) | 1,411,439 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (578,178) | (189,436) | (1,903,625) | 238,150 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | (578,178) | (189,436) | (1,903,625) | 238,150 |
Equinox Frontier Diversified Fund [Member] | Class 1 [Member] | ||||
Expenses: | ||||
Service Fees | $ 14,432 | $ 24,584 | $ 45,236 | $ 110,769 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (3.84) | $ (1.63) | $ (11.95) | $ (6.33) |
Equinox Frontier Diversified Fund [Member] | Class 2 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | (3.96) | (1.32) | (12.28) | (5.64) |
Equinox Frontier Diversified Fund [Member] | Class 3 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (3.62) | $ (1.15) | $ (11.21) | $ (5) |
Equinox Frontier Diversified Fund [Member] | Swap [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net unrealized gain/(loss) on investments | $ (213,803) | $ 145,433 | $ 299,525 | $ 147,788 |
Equinox Frontier Diversified Fund [Member] | US Treasury Securities [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (11,658) | (48,013) | (354,609) | |
Net unrealized gain/(loss) on investments | 3,255 | (3,031) | (609) | 569,536 |
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (25,826) | 475,572 | 45,769 | 1,567,660 |
Net unrealized gain/(loss) on investments | (191,468) | (581,919) | (1,717,819) | (207,161) |
Equinox Frontier Masters Fund [Member] | ||||
Investment income/(loss): | ||||
Interest - net | 4,707 | 13,174 | 21,441 | 72,591 |
Total Income | 4,707 | 13,174 | 21,441 | 72,591 |
Expenses: | ||||
Management Fees | 22,605 | 26,862 | 83,816 | 150,767 |
Service Fees | 39,503 | |||
Trading Fees | 95,225 | 151,229 | 335,271 | 527,813 |
Other Fees | 1,792 | |||
Total Expenses | 129,435 | 197,676 | 458,590 | 752,891 |
Investment (loss) - net | (124,728) | (184,502) | (437,149) | (680,300) |
Realized and unrealized gain/(loss) on investments: | ||||
Change in fair value of investments in unconsolidated trading companies | (1,603) | 31,473 | (78,937) | (366,569) |
Net gain/(loss) on investments | (10,638) | (106,063) | (1,270,952) | (871,687) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (135,366) | (290,565) | (1,708,101) | (1,551,987) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | (135,366) | (290,565) | (1,708,101) | (1,551,987) |
Equinox Frontier Masters Fund [Member] | Class 1 [Member] | ||||
Expenses: | ||||
Service Fees | $ 11,605 | $ 19,585 | $ 39,503 | $ 72,519 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (2.13) | $ (2.98) | $ (17.54) | $ (13.39) |
Equinox Frontier Masters Fund [Member] | Class 2 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | (1.99) | (2.95) | (18.88) | (13.83) |
Equinox Frontier Masters Fund [Member] | Class 3 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (1.78) | $ (2.67) | $ (17.41) | $ (12.66) |
Equinox Frontier Masters Fund [Member] | US Treasury Securities [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net change in open trade equity/(deficit) | $ (5,337) | |||
Net realized gain/(loss) on investments | 27,844 | (5,333) | $ (45,508) | $ (286,742) |
Net unrealized gain/(loss) on investments | 10,785 | 328,820 | ||
Equinox Frontier Masters Fund [Member] | Private Investment Companies [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net change in open trade equity/(deficit) | 11,891 | 152,190 | ||
Net realized gain/(loss) on investments | (43,433) | (284,393) | 96,298 | 429,868 |
Net unrealized gain/(loss) on investments | (1,253,591) | (977,064) | ||
Equinox Frontier Long/Short Commodity Fund [Member] | ||||
Investment income/(loss): | ||||
Interest - net | 3,176 | 10,635 | ||
Total Income | 3,176 | 10,635 | ||
Expenses: | ||||
Operating expenses | (87,670) | |||
Trading Fees | 19,318 | 40,897 | 65,530 | 183,990 |
Other Fees | (2,428) | 22,548 | ||
Total Expenses | 19,652 | 40,336 | 66,928 | 131,706 |
Investment (loss) - net | (16,476) | (40,336) | (56,293) | (131,706) |
Realized and unrealized gain/(loss) on investments: | ||||
Change in fair value of investments in unconsolidated trading companies | 1,511 | (1,334) | (301) | 47,097 |
Net gain/(loss) on investments | (111,396) | 72,790 | (419,317) | (231,314) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (127,872) | 32,454 | (475,610) | (363,020) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | (127,872) | 32,454 | (475,610) | (363,020) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1 [Member] | ||||
Expenses: | ||||
Service Fees | $ 334 | $ 1,867 | $ 1,398 | $ 12,838 |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (2.98) | $ (0.03) | $ (12.27) | $ (13.24) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | (3.13) | (0.02) | (12.88) | (8.76) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1A [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | (4.59) | (0.37) | (15.16) | (9.52) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2A [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | (4.98) | (0.03) | (16.44) | (10.31) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3A [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (5.17) | $ 0.03 | $ (17.05) | $ (7.71) |
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | $ 39,017 | $ 50,384 | ||
Net unrealized gain/(loss) on investments | $ 74,902 | $ 39,954 | ||
Equinox Frontier Long/Short Commodity Fund [Member] | US Treasury Securities [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net change in open trade equity/(deficit) | (4,663) | |||
Net realized gain/(loss) on investments | (2,297) | (1,069) | (34,564) | 227,895 |
Net unrealized gain/(loss) on investments | 1,715 | (212,189) | ||
Equinox Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net change in open trade equity/(deficit) | (34,683) | 22,256 | ||
Net realized gain/(loss) on investments | (110,281) | 2,553 | (186,723) | (4,741) |
Net unrealized gain/(loss) on investments | (274,347) | (329,330) | ||
Equinox Frontier Balanced Fund [Member] | ||||
Investment income/(loss): | ||||
Interest - net | 10,592 | 8,254 | 35,536 | 9,415 |
Total Income | 10,592 | 8,254 | 35,536 | 9,415 |
Expenses: | ||||
Incentive Fees | 145,134 | |||
Management Fees | 26,643 | 25,760 | 69,545 | 102,297 |
Risk analysis Fees | 1,612 | 5,009 | 5,141 | 12,566 |
Trading Fees | 339,537 | 462,275 | 1,068,482 | 1,625,446 |
Other Fees | 190,804 | |||
Total Expenses | 590,094 | 816,616 | 2,011,395 | 3,037,960 |
Investment (loss) - net | (579,502) | (808,362) | (1,975,859) | (3,028,545) |
Realized and unrealized gain/(loss) on investments: | ||||
Net change in open trade equity/(deficit) | (63,530) | (84,039) | (141,192) | (403,237) |
Trading commissions | (12,466) | (8,224) | (41,403) | (51,477) |
Change in fair value of investments in unconsolidated trading companies | 49,118 | 63,498 | 105,602 | (373,803) |
Net gain/(loss) on investments | (1,017,197) | 367,405 | (3,185,079) | 1,312,398 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (1,596,699) | (440,957) | (5,160,938) | (1,716,147) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | (1,596,699) | (440,957) | (5,160,938) | (1,716,147) |
Equinox Frontier Balanced Fund [Member] | Class 1 [Member] | ||||
Expenses: | ||||
Service Fees | $ 222,302 | $ 323,572 | $ 723,093 | $ 1,106,847 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (5.40) | $ (1.64) | $ (16.15) | $ (6.60) |
Equinox Frontier Balanced Fund [Member] | Class 2 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | (6.82) | (0.98) | (20) | (5.35) |
Equinox Frontier Balanced Fund [Member] | Class 2A [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | (5.85) | (0.79) | (17.29) | (4.07) |
Equinox Frontier Balanced Fund [Member] | Class 3A [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | (5.83) | (0.80) | (17.24) | (4.07) |
Equinox Frontier Balanced Fund [Member] | Class 1AP [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (5.05) | $ (0.73) | $ (14.93) | $ (3.99) |
Equinox Frontier Balanced Fund [Member] | Swap [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net unrealized gain/(loss) on investments | $ (620,424) | $ 356,572 | $ 509,226 | $ 420,488 |
Equinox Frontier Balanced Fund [Member] | US Treasury Securities [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (18,391) | (63,298) | (228,904) | |
Net unrealized gain/(loss) on investments | 421 | (3,909) | (6,119) | 483,160 |
Equinox Frontier Balanced Fund [Member] | Futures And Forwards [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | 13,124 | 82,008 | (270,212) | (569,161) |
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | 8,097 | 689,463 | 244,703 | 3,954,532 |
Net unrealized gain/(loss) on investments | (373,146) | (727,964) | (3,522,386) | (1,919,200) |
Equinox Frontier Select Fund [Member] | ||||
Investment income/(loss): | ||||
Interest - net | ||||
Total Income | ||||
Expenses: | ||||
Management Fees | 102,047 | |||
Risk analysis Fees | 6,829 | |||
Trading Fees | 27,076 | 39,673 | 92,779 | 137,940 |
Other Fees | (5,094) | |||
Total Expenses | 59,225 | 86,152 | 197,890 | 417,969 |
Investment (loss) - net | (59,225) | (86,152) | (197,890) | (417,969) |
Realized and unrealized gain/(loss) on investments: | ||||
Net change in open trade equity/(deficit) | (145,848) | |||
Trading commissions | (46,591) | |||
Change in fair value of investments in unconsolidated trading companies | (16,945) | 45,390 | (53,962) | (319,255) |
Net gain/(loss) on investments | 97,395 | (246,729) | (865,762) | (2,000,503) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | 38,170 | (332,881) | (1,063,652) | (2,418,472) |
Less: Operations attributable to non-controlling interests | (432,628) | |||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | 38,170 | (332,881) | (1,063,652) | (1,985,844) |
Equinox Frontier Select Fund [Member] | Class 1 [Member] | ||||
Expenses: | ||||
Service Fees | $ 32,149 | $ 46,479 | $ 105,111 | $ 176,247 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ 0.66 | $ (4.33) | $ (14.86) | $ (19.60) |
Equinox Frontier Select Fund [Member] | Class 2 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | 1.84 | (5.45) | (19.32) | (25.59) |
Equinox Frontier Select Fund [Member] | Class 1AP [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ 1.38 | $ (4.02) | $ (14.57) | $ (19.28) |
Equinox Frontier Select Fund [Member] | US Treasury Securities [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | $ (1,918) | $ (14,456) | $ (170,783) | |
Net unrealized gain/(loss) on investments | 13,357 | 1,751 | 1,522 | 202,502 |
Equinox Frontier Select Fund [Member] | Futures And Forwards [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (695,436) | |||
Equinox Frontier Select Fund [Member] | Private Investment Companies [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (61,092) | (47,803) | (1,526) | (45,798) |
Net unrealized gain/(loss) on investments | 163,993 | (246,067) | (797,340) | (779,294) |
Equinox Frontier Winton Fund [Member] | ||||
Investment income/(loss): | ||||
Interest - net | 19,732 | 19,732 | ||
Total Income | 19,732 | 19,732 | ||
Expenses: | ||||
Incentive Fees | (49,790) | |||
Management Fees | 104,062 | 188,835 | 366,404 | 677,921 |
Risk analysis Fees | 26,057 | 96,830 | ||
Trading Fees | 73,379 | 127,661 | 236,657 | 431,025 |
Other Fees | 7,074 | |||
Total Expenses | 254,280 | 442,278 | 855,067 | 1,531,876 |
Investment (loss) - net | (254,280) | (422,546) | (855,067) | (1,512,144) |
Realized and unrealized gain/(loss) on investments: | ||||
Net change in open trade equity/(deficit) | 775,332 | (1,630,449) | ||
Trading commissions | (15,820) | (44,385) | ||
Change in fair value of investments in unconsolidated trading companies | 156,865 | (31,155) | (95,896) | (334,372) |
Net gain/(loss) on investments | 66,648 | 440,557 | (338,678) | (865,453) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (187,632) | 18,011 | (1,193,745) | (2,377,597) |
Less: Operations attributable to non-controlling interests | 214,425 | (352,116) | ||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | (187,632) | (196,414) | (1,193,745) | (2,025,481) |
Equinox Frontier Winton Fund [Member] | Class 1 [Member] | ||||
Expenses: | ||||
Service Fees | $ 76,839 | $ 99,725 | $ 252,006 | $ 368,816 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (2.64) | $ (1.79) | $ (13.06) | $ (12.21) |
Equinox Frontier Winton Fund [Member] | Class 2 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | 2.73 | (0.96) | (10.30) | (12.28) |
Equinox Frontier Winton Fund [Member] | Class 1AP [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (1.68) | $ (0.76) | $ (10.93) | $ (9.67) |
Equinox Frontier Winton Fund [Member] | US Treasury Securities [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | $ (48,714) | $ (253,908) | $ (1,104,301) | |
Net unrealized gain/(loss) on investments | (41,503) | (11,591) | 11,126 | 1,194,837 |
Equinox Frontier Winton Fund [Member] | Futures And Forwards [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (276,209) | 1,053,217 | ||
Equinox Frontier Heritage Fund [Member] | ||||
Investment income/(loss): | ||||
Interest - net | ||||
Total Income | ||||
Expenses: | ||||
Incentive Fees | 1,394 | (4,603) | ||
Management Fees | 22,635 | 43,021 | 92,509 | 160,879 |
Risk analysis Fees | ||||
Trading Fees | 33,624 | 36,907 | 112,771 | 146,164 |
Other Fees | 1,732 | |||
Total Expenses | 85,602 | 120,882 | 304,427 | 445,913 |
Investment (loss) - net | (85,602) | (120,882) | (304,427) | (445,913) |
Realized and unrealized gain/(loss) on investments: | ||||
Change in fair value of investments in unconsolidated trading companies | 20,832 | 36,791 | 22,800 | (170,930) |
Net gain/(loss) on investments | 22,592 | 27,074 | (695,930) | (725,978) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (63,010) | (93,808) | (1,000,357) | (1,171,891) |
Less: Operations attributable to non-controlling interests | 3,130 | 53,727 | (40,765) | (249,164) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | (66,140) | (147,535) | (959,592) | (922,727) |
Equinox Frontier Heritage Fund [Member] | Class 1 [Member] | ||||
Expenses: | ||||
Service Fees | $ 29,343 | $ 40,954 | $ 97,753 | $ 141,741 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (1.58) | $ (2.99) | $ (20.10) | $ (13.59) |
Equinox Frontier Heritage Fund [Member] | Class 2 [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | (1.23) | (3.21) | (26.39) | (16.13) |
Equinox Frontier Heritage Fund [Member] | Class 1AP [Member] | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS PER UNIT | $ (0.88) | $ (2.39) | $ (19.70) | $ (12.05) |
Equinox Frontier Heritage Fund [Member] | Swap [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net unrealized gain/(loss) on investments | $ 6,454 | $ 110,814 | $ (84,079) | $ (513,913) |
Equinox Frontier Heritage Fund [Member] | US Treasury Securities [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (7,717) | (40,316) | (211,694) | |
Net unrealized gain/(loss) on investments | (1,094) | 238 | 2,583 | 291,328 |
Equinox Frontier Heritage Fund [Member] | Private Investment Companies [Member] | ||||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on investments | (17,465) | (98,763) | ||
Net unrealized gain/(loss) on investments | $ 21,582 | $ (120,769) | $ (498,155) | $ (120,769) |
Statements of Changes in Owners
Statements of Changes in Owners' Capital Equity (Unaudited) - USD ($) | Equinox Frontier Diversified Fund [Member]Class 1 [Member]Limited Owner [Member] | Equinox Frontier Diversified Fund [Member]Class 1 [Member] | Equinox Frontier Diversified Fund [Member]Class 2 [Member]Limited Owner [Member] | Equinox Frontier Diversified Fund [Member]Class 2 [Member]Managing Owner [Member] | Equinox Frontier Diversified Fund [Member]Class 2 [Member] | Equinox Frontier Diversified Fund [Member]Class 3 [Member]Limited Owner [Member] | Equinox Frontier Diversified Fund [Member]Class 3 [Member]Managing Owner [Member] | Equinox Frontier Diversified Fund [Member]Class 3 [Member] | Equinox Frontier Diversified Fund [Member]Noncontrolling Interests [Member] | Equinox Frontier Diversified Fund [Member] | Equinox Frontier Masters Fund [Member]Class 1 [Member]Limited Owner [Member] | Equinox Frontier Masters Fund [Member]Class 1 [Member] | Equinox Frontier Masters Fund [Member]Class 2 [Member]Limited Owner [Member] | Equinox Frontier Masters Fund [Member]Class 2 [Member]Managing Owner [Member] | Equinox Frontier Masters Fund [Member]Class 2 [Member] | Equinox Frontier Masters Fund [Member]Class 3 [Member]Limited Owner [Member] | Equinox Frontier Masters Fund [Member]Class 3 [Member]Managing Owner [Member] | Equinox Frontier Masters Fund [Member]Class 3 [Member] | Equinox Frontier Masters Fund [Member]Noncontrolling Interests [Member] | Equinox Frontier Masters Fund [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 2 [Member]Limited Owner [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 2 [Member]Managing Owner [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 2 [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 3 [Member]Limited Owner [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 3 [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 1A [Member]Limited Owner [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 1A [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 2A [Member]Limited Owner [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 2A [Member]Managing Owner [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 2A [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 3A [Member]Limited Owner [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 3A [Member]Managing Owner [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Class 3A [Member] | Equinox Frontier Long/Short Commodity Fund [Member]Noncontrolling Interests [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Equinox Frontier Balanced Fund [Member]Class 1 [Member]Limited Owner [Member] | Equinox Frontier Balanced Fund [Member]Class 1 [Member] | Equinox Frontier Balanced Fund [Member]Class 2 [Member]Limited Owner [Member] | Equinox Frontier Balanced Fund [Member]Class 2 [Member]Managing Owner [Member] | Equinox Frontier Balanced Fund [Member]Class 2 [Member] | Equinox Frontier Balanced Fund [Member]Class 2A [Member]Limited Owner [Member] | Equinox Frontier Balanced Fund [Member]Class 2A [Member]Managing Owner [Member] | Equinox Frontier Balanced Fund [Member]Class 2A [Member] | Equinox Frontier Balanced Fund [Member]Class 3A [Member]Limited Owner [Member] | Equinox Frontier Balanced Fund [Member]Class 3A [Member] | Equinox Frontier Balanced Fund [Member]Class 1AP [Member]Limited Owner [Member] | Equinox Frontier Balanced Fund [Member]Class 1AP [Member] | Equinox Frontier Balanced Fund [Member]Noncontrolling Interests [Member] | Equinox Frontier Balanced Fund [Member] | Equinox Frontier Select Fund [Member]Class 1 [Member]Limited Owner [Member] | Equinox Frontier Select Fund [Member]Class 1 [Member] | Equinox Frontier Select Fund [Member]Class 2 [Member]Limited Owner [Member] | Equinox Frontier Select Fund [Member]Class 2 [Member]Managing Owner [Member] | Equinox Frontier Select Fund [Member]Class 2 [Member] | Equinox Frontier Select Fund [Member]Class 1AP [Member]Limited Owner [Member] | Equinox Frontier Select Fund [Member]Class 1AP [Member] | Equinox Frontier Select Fund [Member]Noncontrolling Interests [Member] | Equinox Frontier Select Fund [Member] | Equinox Frontier Winton Fund [Member]Class 1 [Member]Limited Owner [Member] | Equinox Frontier Winton Fund [Member]Class 1 [Member] | Equinox Frontier Winton Fund [Member]Class 2 [Member]Limited Owner [Member] | Equinox Frontier Winton Fund [Member]Class 2 [Member]Managing Owner [Member] | Equinox Frontier Winton Fund [Member]Class 2 [Member] | Equinox Frontier Winton Fund [Member]Class 1AP [Member]Limited Owner [Member] | Equinox Frontier Winton Fund [Member]Class 1AP [Member] | Equinox Frontier Winton Fund [Member]Noncontrolling Interests [Member] | Equinox Frontier Winton Fund [Member] | Equinox Frontier Heritage Fund [Member]Class 1 [Member]Limited Owner [Member] | Equinox Frontier Heritage Fund [Member]Class 1 [Member] | Equinox Frontier Heritage Fund [Member]Class 2 [Member]Limited Owner [Member] | Equinox Frontier Heritage Fund [Member]Class 2 [Member]Managing Owner [Member] | Equinox Frontier Heritage Fund [Member]Class 2 [Member] | Equinox Frontier Heritage Fund [Member]Class 1AP [Member]Limited Owner [Member] | Equinox Frontier Heritage Fund [Member]Class 1AP [Member] | Equinox Frontier Heritage Fund [Member]Noncontrolling Interests [Member] | Equinox Frontier Heritage Fund [Member] | Limited Owner [Member] | Managing Owner [Member] | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Operations attributable to non-controlling interests | $ (432,628) | $ (352,116) | $ (249,164) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase/(decrease) in Owners' Capital resulting from operations | $ 238,150 | $ (1,551,987) | $ (363,020) | $ (1,716,147) | (1,985,844) | (2,025,481) | (922,727) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per unit, Beginning balance at Dec. 31, 2016 | [1] | $ 116.43 | $ 132.94 | $ 123.27 | $ 112.80 | $ 128.78 | $ 119.89 | $ 129.56 | $ 130.80 | $ 92.78 | $ 105.67 | $ 107.50 | $ 134.80 | $ 194.99 | $ 169.05 | $ 168.49 | $ 144.97 | $ 94.06 | $ 134.25 | $ 101.16 | $ 154.51 | $ 210.98 | $ 166.17 | $ 119.58 | $ 172.10 | $ 128.60 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per unit, Ending balance at Sep. 30, 2017 | [1] | 110.10 | 127.30 | 118.27 | 99.41 | 114.95 | 107.23 | 116.32 | 122.04 | 83.26 | 95.36 | 99.79 | 128.20 | 189.64 | 164.98 | 164.42 | 140.98 | 74.46 | 108.66 | 81.88 | 142.30 | 198.70 | 156.50 | 105.99 | 155.97 | 116.55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operations attributable to non-controlling interests | 214,425 | 53,727 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase/(decrease) in Owners' Capital resulting from operations | (189,436) | (290,565) | 32,454 | (440,957) | (332,881) | (196,414) | (147,535) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per unit, Beginning balance at Jun. 30, 2017 | [1] | 111.73 | 128.62 | 119.42 | 102.39 | 117.90 | 109.90 | 116.35 | 122.06 | 83.63 | 95.39 | 99.76 | 129.84 | 190.62 | 165.77 | 165.22 | 141.71 | 78.79 | 114.11 | 85.90 | 144.09 | 199.66 | 157.26 | 108.98 | 159.18 | 118.94 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per unit, Ending balance at Sep. 30, 2017 | [1] | $ 110.10 | $ 127.30 | $ 118.27 | $ 99.41 | $ 114.95 | $ 107.23 | $ 116.32 | $ 122.04 | $ 83.26 | $ 95.36 | $ 99.79 | $ 128.20 | $ 189.64 | $ 164.98 | $ 164.42 | $ 140.98 | $ 74.46 | $ 108.66 | $ 81.88 | $ 142.30 | $ 198.70 | $ 156.50 | $ 105.99 | $ 155.97 | $ 116.55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Owners' Capital, Beginning balance at Dec. 31, 2017 | $ 2,332,222 | $ 9,629,385 | $ 3,361 | $ 9,288,555 | $ 213,164 | 21,466,687 | $ 2,913,542 | $ 3,451,256 | $ 87,344 | $ 5,470,789 | $ 34,209 | 11,957,140 | $ 246,901 | $ 11,999 | $ 2,472,994 | $ 107,619 | $ 408,532 | $ 34,112 | $ 970,136 | $ 1,759 | 4,254,052 | $ 38,744,003 | $ 6,829,139 | $ 147,888 | $ 191,276 | $ 338,655 | $ 1,379,971 | $ 601,247 | 48,232,179 | $ 5,912,980 | $ 795,299 | $ 70,295 | $ 23,354 | 6,801,928 | $ 13,102,614 | $ 1,555,723 | $ 153,552 | $ 37,761 | 14,849,650 | $ 5,435,871 | $ 697,026 | $ 63,646 | $ 6,083 | $ 579,074 | 6,781,700 | $ 112,604,281 | $ 1,159,984 | $ 113,764,265 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of Units | (354,495) | (933,695) | (1,311,411) | (19,000) | (2,618,601) | (299,860) | (1,457,163) | (20,000) | (1,671,345) | (8,000) | (3,456,368) | (109,612) | (4,500) | (215,389) | (79,178) | (92,090) | (4,501) | (263,745) | (769,015) | (6,038,368) | (1,507,640) | (7,000) | (65,968) | (10,000) | (348,080) | (111,300) | (8,088,356) | (813,081) | (514,844) | (11,000) | (3,144) | (1,342,069) | (2,251,329) | (1,100,084) | (29,000) | (3,380,413) | (783,919) | (7,000) | (4,081) | (795,000) | (20,449,826) | (20,449,826) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operations attributable to non-controlling interests | (40,765) | (40,765) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfer of Units In(Out) | (80,257) | 80,257 | (1,232) | 1,232 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase/(decrease) in Owners' Capital resulting from operations | (237,395) | (836,809) | (305) | (810,215) | (18,901) | (1,903,625) | (430,946) | (516,137) | (12,773) | (743,291) | (4,954) | (1,708,101) | (15,876) | (1,215) | (246,671) | (5,121) | (57,391) | (5,852) | (143,178) | (306) | (475,610) | (4,244,643) | (632,476) | (14,509) | (10,954) | (74,862) | (125,210) | (58,284) | (5,160,938) | (918,905) | (130,509) | (10,701) | (3,537) | (1,063,652) | (1,106,153) | (79,131) | (6,037) | (2,424) | (1,193,745) | (846,829) | (102,328) | (9,444) | (991) | (959,592) | (12,185,402) | (279,860) | (12,465,262) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Owners' Capital, Ending balance at Sep. 30, 2018 | $ 1,740,332 | $ 7,858,881 | $ 3,056 | $ 7,166,929 | $ 175,263 | 16,944,461 | $ 2,102,479 | $ 1,477,956 | $ 54,571 | $ 3,136,410 | $ 21,255 | 6,792,671 | $ 121,413 | $ 6,284 | $ 2,010,934 | $ 23,320 | $ 259,051 | $ 23,759 | $ 563,213 | $ 1,453 | 3,009,427 | $ 28,460,992 | $ 4,689,023 | $ 126,379 | $ 114,354 | $ 253,793 | $ 906,681 | $ 431,663 | 34,982,885 | $ 4,179,762 | $ 149,946 | $ 48,594 | $ 17,905 | 4,396,207 | $ 9,745,132 | $ 376,508 | $ 118,515 | $ 35,337 | 10,275,492 | $ 3,805,123 | $ 594,698 | $ 47,202 | $ 1,011 | 538,309 | 4,986,343 | 79,969,053 | 880,124 | 80,849,177 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Owners' Capital - Units, Beginning balance at Dec. 31, 2017 | 20,035 | 20,035 | 71,229 | 25 | 71,254 | 73,905 | 1,696 | 75,601 | 25,393 | 25,393 | 25,898 | 655 | 26,553 | 43,979 | 275 | 44,254 | 2,131 | 104 | 2,236 | 20,355 | 20,354 | 1,323 | 1,323 | 4,366 | 364 | 4,730 | 9,900 | 18 | 9,918 | 284,956 | 284,956 | 33,657 | 729 | 34,386 | 1,089 | 1,926 | 3,015 | 7,877 | 7,877 | 3,993 | 3,993 | 65,502 | 65,502 | 5,992 | 530 | 6,521 | 234 | 233 | 82,367 | 82,367 | 7,186 | 709 | 7,895 | 214 | 214 | 44,855 | 44,855 | 3,856 | 377 | 4,233 | 45 | 45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Owners' Capital - Units, Redemption of Units | (3,373) | (7,287) | (11,299) | (165) | (3,762) | (12,977) | (178) | (14,664) | (76) | (959) | (43) | (1,842) | (970) | (1,007) | (57) | (2,944) | (47,409) | (8,022) | (38) | (367) | (325) | (2,137) | (810) | (10,075) | (4,670) | (101) | (24) | (15,627) | (5,360) | (145) | (7,219) | (46) | (36) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Owners' Capital - Units, Ending balance at Sep. 30, 2018 | 16,662 | 16,661 | 63,942 | 25 | 63,966 | 62,606 | 1,531 | 64,138 | 21,631 | 21,629 | 12,921 | 477 | 13,397 | 29,315 | 199 | 29,515 | 1,172 | 61 | 1,233 | 18,513 | 18,512 | 353 | 353 | 3,359 | 307 | 3,666 | 6,956 | 18 | 6,978 | 237,547 | 237,546 | 25,635 | 691 | 26,326 | 722 | 1,601 | 2,323 | 5,740 | 5,741 | 3,183 | 3,183 | 55,427 | 55,426 | 1,322 | 429 | 1,751 | 210 | 210 | 66,740 | 66,740 | 1,826 | 564 | 2,401 | 214 | 214 | 37,636 | 37,636 | 3,856 | 331 | 4,187 | 9 | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per unit, Beginning balance at Dec. 31, 2017 | $ 116.41 | $ 116.41 | [1] | $ 135.19 | [2] | $ 135.19 | [2] | $ 135.19 | [1] | $ 125.68 | [2] | $ 125.68 | [2] | $ 125.68 | [1] | $ 114.74 | $ 114.74 | [1] | $ 133.27 | [2] | $ 133.27 | [2] | $ 133.27 | [1] | $ 124.40 | [2] | $ 124.40 | [2] | $ 124.40 | [1] | $ 115.81 | [2] | $ 115.81 | [1] | $ 121.50 | $ 121.50 | [1] | $ 81.35 | $ 81.35 | [1] | $ 93.59 | [2] | $ 93.59 | [2] | $ 93.59 | [1] | $ 97.99 | [2] | $ 97.99 | [2] | $ 97.99 | [1] | $ 135.96 | $ 135.96 | [1] | $ 202.90 | [2] | $ 202.90 | [2] | $ 202.90 | [1] | $ 175.77 | [2] | $ 175.77 | [2] | $ 175.77 | [1] | $ 175.18 | $ 175.18 | [1] | $ 150.56 | $ 150.56 | [1] | $ 90.27 | $ 90.27 | [1] | $ 132.73 | [2] | $ 132.73 | [2] | $ 132.73 | [1] | $ 100.02 | $ 100.02 | [1] | $ 159.08 | $ 159.08 | [1] | $ 216.50 | [2] | $ 216.50 | [2] | $ 216.50 | [1] | $ 176.44 | $ 176.44 | [1] | $ 121.19 | $ 121.19 | [1] | $ 179.70 | [2] | $ 179.70 | [2] | $ 179.70 | [1] | $ 134.28 | $ 134.28 | [1] | |||||||||||||||||||
Change in net asset value per unit for the period | (11.95) | (12.28) | [2] | (12.28) | [2] | (11.21) | [2] | (11.21) | [2] | (17.54) | (18.88) | [2] | (18.88) | [2] | (17.41) | [2] | (17.41) | [2] | (12.27) | [2] | (12.88) | (15.16) | (16.44) | [2] | (16.44) | [2] | (17.05) | [2] | (17.05) | [2] | (16.15) | (20) | [2] | (20) | [2] | (17.29) | [2] | (17.29) | [2] | (17.24) | (14.93) | (14.86) | (19.32) | [2] | (19.32) | [2] | (14.57) | (13.06) | (10.30) | [2] | (10.30) | [2] | (10.93) | (20.10) | (26.39) | [2] | (26.39) | [2] | (19.70) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per unit, Ending balance at Sep. 30, 2018 | $ 104.46 | $ 104.46 | [1] | $ 122.91 | [2] | $ 122.91 | [2] | $ 122.91 | [1] | $ 114.47 | [2] | $ 114.47 | [2] | $ 114.47 | [1] | $ 97.20 | $ 97.20 | [1] | $ 114.39 | [2] | $ 114.39 | [2] | $ 114.39 | [1] | $ 106.99 | [2] | $ 106.99 | [2] | $ 106.99 | [1] | $ 103.54 | [2] | $ 103.54 | [1] | $ 108.62 | $ 108.62 | [1] | $ 66.19 | $ 66.19 | [1] | $ 77.15 | [2] | $ 77.15 | [2] | $ 77.15 | [1] | $ 80.94 | [2] | $ 80.94 | [2] | $ 80.94 | [1] | $ 119.81 | $ 119.81 | [1] | $ 182.90 | [2] | $ 182.90 | [2] | $ 182.90 | [1] | $ 158.48 | [2] | $ 158.48 | [2] | $ 158.48 | [1] | $ 157.94 | $ 157.94 | [1] | $ 135.63 | $ 135.63 | [1] | $ 75.41 | $ 75.41 | [1] | $ 113.40 | [2] | $ 113.40 | [2] | $ 113.41 | [1] | $ 85.45 | $ 85.45 | [1] | $ 146.02 | $ 146.02 | [1] | $ 206.20 | [2] | $ 206.20 | [2] | $ 206.20 | [1] | $ 165.51 | $ 165.51 | [1] | $ 101.10 | $ 101.09 | [1] | $ 153.31 | [2] | $ 153.31 | [2] | $ 153.31 | [1] | $ 114.58 | $ 114.58 | [1] | |||||||||||||||||||
Operations attributable to non-controlling interests | 3,130 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase/(decrease) in Owners' Capital resulting from operations | (578,178) | (135,366) | (127,872) | (1,596,699) | 38,170 | (187,632) | (66,140) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Owners' Capital, Ending balance at Sep. 30, 2018 | $ 1,740,332 | $ 7,858,881 | $ 3,056 | $ 7,166,929 | $ 175,263 | $ 16,944,461 | $ 2,102,479 | $ 1,477,956 | $ 54,571 | $ 3,136,410 | $ 21,255 | $ 6,792,671 | $ 121,413 | $ 6,284 | $ 2,010,934 | $ 23,320 | $ 259,051 | $ 23,759 | $ 563,213 | $ 1,453 | $ 3,009,427 | $ 28,460,992 | $ 4,689,023 | $ 126,379 | $ 114,354 | $ 253,793 | $ 906,681 | $ 431,663 | $ 34,982,885 | $ 4,179,762 | $ 149,946 | $ 48,594 | $ 17,905 | $ 4,396,207 | $ 9,745,132 | $ 376,508 | $ 118,515 | $ 35,337 | $ 10,275,492 | $ 3,805,123 | $ 594,698 | $ 47,202 | $ 1,011 | $ 538,309 | $ 4,986,343 | $ 79,969,053 | $ 880,124 | $ 80,849,177 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Owners' Capital - Units, Ending balance at Sep. 30, 2018 | 16,662 | 16,661 | 63,942 | 25 | 63,966 | 62,606 | 1,531 | 64,138 | 21,631 | 21,629 | 12,921 | 477 | 13,397 | 29,315 | 199 | 29,515 | 1,172 | 61 | 1,233 | 18,513 | 18,512 | 353 | 353 | 3,359 | 307 | 3,666 | 6,956 | 18 | 6,978 | 237,547 | 237,546 | 25,635 | 691 | 26,326 | 722 | 1,601 | 2,323 | 5,740 | 5,741 | 3,183 | 3,183 | 55,427 | 55,426 | 1,322 | 429 | 1,751 | 210 | 210 | 66,740 | 66,740 | 1,826 | 564 | 2,401 | 214 | 214 | 37,636 | 37,636 | 3,856 | 331 | 4,187 | 9 | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per unit, Beginning balance at Jun. 30, 2018 | [1] | $ 108.30 | $ 126.87 | $ 118.09 | $ 99.33 | $ 116.38 | $ 108.77 | $ 106.52 | $ 111.75 | $ 70.78 | $ 82.13 | $ 86.11 | $ 125.21 | $ 189.72 | $ 164.33 | $ 163.77 | $ 140.68 | $ 74.75 | $ 111.56 | $ 84.07 | $ 148.66 | $ 203.47 | $ 167.19 | $ 102.68 | $ 154.54 | $ 115.46 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per unit, Ending balance at Sep. 30, 2018 | $ 104.46 | $ 104.46 | [1] | $ 122.91 | [2] | $ 122.91 | [2] | $ 122.91 | [1] | $ 114.47 | [2] | $ 114.47 | [2] | $ 114.47 | [1] | $ 97.20 | $ 97.20 | [1] | $ 114.39 | [2] | $ 114.39 | [2] | $ 114.39 | [1] | $ 106.99 | [2] | $ 106.99 | [2] | $ 106.99 | [1] | $ 103.54 | [2] | $ 103.54 | [1] | $ 108.62 | $ 108.62 | [1] | $ 66.19 | $ 66.19 | [1] | $ 77.15 | [2] | $ 77.15 | [2] | $ 77.15 | [1] | $ 80.94 | [2] | $ 80.94 | [2] | $ 80.94 | [1] | $ 119.81 | $ 119.81 | [1] | $ 182.90 | [2] | $ 182.90 | [2] | $ 182.90 | [1] | $ 158.48 | [2] | $ 158.48 | [2] | $ 158.48 | [1] | $ 157.94 | $ 157.94 | [1] | $ 135.63 | $ 135.63 | [1] | $ 75.41 | $ 75.41 | [1] | $ 113.40 | [2] | $ 113.40 | [2] | $ 113.41 | [1] | $ 85.45 | $ 85.45 | [1] | $ 146.02 | $ 146.02 | [1] | $ 206.20 | [2] | $ 206.20 | [2] | $ 206.20 | [1] | $ 165.51 | $ 165.51 | [1] | $ 101.10 | $ 101.09 | [1] | $ 153.31 | [2] | $ 153.31 | [2] | $ 153.31 | [1] | $ 114.58 | $ 114.58 | [1] | |||||||||||||||||||
[1] | Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Values are for both the Managing Owner and Limited Owners. |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Cash Flows from Operating Activities: | |||||
Net increase/(decrease) in capital resulting from operations | $ (2,639,292) | $ (1,565,336) | $ (12,465,262) | $ (8,327,059) | |
Change in: | |||||
Net change in open trade equity/(deficit), at fair value | 1,221,688 | 2,766,175 | |||
Increase and/or decrease in: | |||||
Receivable from futures commission merchants | 9,869,661 | 12,811,157 | |||
Due from Managing Owner | 31,887 | ||||
Interest receivable | 143,074 | 719,026 | |||
Receivable from related parties | 58,146 | 87,670 | |||
Other assets | (93,479) | (8,974) | |||
Incentive fees payable to Managing Owner | (42,139) | ||||
Management fees payable to Managing Owner | (11,371) | (325,996) | |||
Interest payable to Managing Owner | (3,919) | (56,946) | |||
Trading fees payable to Managing Owner | 122,249 | (168,831) | |||
Service fees payable to Managing Owner | 89,628 | 70,771 | |||
Risk analysis fees payable | 3,034 | 19,815 | |||
Payables to related parties | (85,078) | ||||
Other liabilities | (278,983) | (144,049) | |||
Net cash provided by (used in) operating activities | 18,175,500 | 95,068,790 | |||
Cash Flows from Financing Activities: | |||||
Proceeds from sale of units | 1,433,633 | ||||
Payment for redemption of units | (20,449,826) | (89,319,399) | |||
Owner redemptions payable | 244,355 | (499,642) | |||
Net cash provided by (used in) financing activities | (20,205,471) | (88,385,408) | |||
Net increase (decrease) in cash and cash equivalents | (2,029,971) | 6,683,382 | |||
Cash and cash equivalents, beginning of period | 2,695,377 | 4,747,043 | $ 4,747,043 | ||
Cash and cash equivalents, end of period | 665,406 | 11,430,425 | 665,406 | 11,430,425 | 2,695,377 |
Private Investment Companies [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 146,345 | (1,291,678) | (277,090) | (6,098,199) | |
Net unrealized gain/(loss) on investments | 761,505 | 2,049,818 | 8,567,706 | 5,325,203 | |
(Purchases) sales of: | |||||
Sales of Investments | 28,241,175 | 87,612,483 | |||
Purchase of Investments | (17,347,053) | (48,309,537) | |||
Swap [Member] | |||||
Change in: | |||||
Net unrealized gain/(loss) on investments | 788,755 | (663,203) | (799,575) | (94,319) | |
(Purchases) sales of: | |||||
Reduction of collateral | 3,100,000 | 18,578,050 | |||
US Treasury Securities [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 98,396 | 500,063 | 2,129,137 | ||
Net unrealized gain/(loss) on investments | 16 | 22,945 | (21,003) | (2,857,993) | |
(Purchases) sales of: | |||||
Sales of Investments | 17,281,128 | 31,077,906 | |||
Purchase of Investments | (20,597,103) | ||||
Interest and premium paid/amortized | 265,085 | 348,378 | |||
Equinox Frontier Diversified Fund [Member] | |||||
Cash Flows from Operating Activities: | |||||
Net increase/(decrease) in capital resulting from operations | (578,178) | (189,436) | (1,903,625) | 238,150 | |
Change in: | |||||
Net change in ownership allocation of U.S. Treasury securities | (69,880) | 3,813,934 | |||
Increase and/or decrease in: | |||||
Investments in unconsolidated trading companies, at fair value | 1,079,119 | 2,378,351 | |||
Interest receivable | 6,341 | 121,045 | |||
Receivable from related parties | 231,671 | ||||
Other assets | (36,188) | ||||
Incentive fees payable to Managing Owner | (1,950) | ||||
Management fees payable to Managing Owner | 4,195 | (23,496) | |||
Trading fees payable to Managing Owner | (13,905) | (77,010) | |||
Service fees payable to Managing Owner | 938 | 55,703 | |||
Other liabilities | (21,907) | (19,674) | |||
Net cash provided by (used in) operating activities | 2,420,733 | 33,477,951 | |||
Cash Flows from Financing Activities: | |||||
Proceeds from sale of units | 785,006 | ||||
Payment for redemption of units | (2,618,601) | (34,998,790) | |||
Owner redemptions payable | 73,079 | 169,716 | |||
Net cash provided by (used in) financing activities | (2,545,522) | (34,044,068) | |||
Net increase (decrease) in cash and cash equivalents | (124,789) | (566,117) | |||
Cash and cash equivalents, beginning of period | 189,890 | 674,227 | 674,227 | ||
Cash and cash equivalents, end of period | 65,101 | 108,110 | 65,101 | 108,110 | 189,890 |
Equinox Frontier Diversified Fund [Member] | Private Investment Companies [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 25,826 | (475,572) | (45,769) | (1,567,660) | |
Net unrealized gain/(loss) on investments | 191,468 | 581,919 | 1,717,819 | 207,161 | |
(Purchases) sales of: | |||||
Sales of Investments | 4,400,709 | 37,197,835 | |||
Purchase of Investments | (3,430,348) | (13,705,362) | |||
Equinox Frontier Diversified Fund [Member] | Swap [Member] | |||||
Change in: | |||||
Net unrealized gain/(loss) on investments | 213,803 | (145,433) | (299,525) | (147,788) | |
(Purchases) sales of: | |||||
Reduction of collateral | 1,100,000 | 2,214,000 | |||
Equinox Frontier Diversified Fund [Member] | US Treasury Securities [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 11,658 | 48,013 | 354,609 | ||
Net unrealized gain/(loss) on investments | (3,255) | 3,031 | 609 | (569,536) | |
(Purchases) sales of: | |||||
Sales of Investments | 1,665,387 | 2,785,190 | |||
Purchase of Investments | (1,841,423) | ||||
Interest and premium paid/amortized | 25,935 | 27,016 | |||
Equinox Frontier Masters Fund [Member] | |||||
Cash Flows from Operating Activities: | |||||
Net increase/(decrease) in capital resulting from operations | (135,366) | (290,565) | (1,708,101) | (1,551,987) | |
Change in: | |||||
Net change in ownership allocation of U.S. Treasury securities | 1,589,162 | (317,619) | |||
Increase and/or decrease in: | |||||
Investments in unconsolidated trading companies, at fair value | 531,197 | 5,386,133 | |||
Interest receivable | 27,586 | 69,848 | |||
Receivable from related parties | 153,157 | ||||
Other assets | 2,974 | ||||
Management fees payable to Managing Owner | (1,455) | (50,174) | |||
Trading fees payable to Managing Owner | (16,958) | (7,511) | |||
Service fees payable to Managing Owner | (945) | 9,598 | |||
Other liabilities | 39,605 | (5,776) | |||
Net cash provided by (used in) operating activities | 2,965,408 | 4,840,156 | |||
Cash Flows from Financing Activities: | |||||
Proceeds from sale of units | 67,610 | ||||
Payment for redemption of units | (3,456,368) | (3,779,383) | |||
Owner redemptions payable | 114,815 | (131,842) | |||
Net cash provided by (used in) financing activities | (3,341,553) | (3,843,615) | |||
Net increase (decrease) in cash and cash equivalents | (376,147) | 996,541 | |||
Cash and cash equivalents, beginning of period | 411,695 | 546,509 | 546,509 | ||
Cash and cash equivalents, end of period | 35,548 | 1,543,050 | 35,548 | 1,543,050 | 411,695 |
Equinox Frontier Masters Fund [Member] | Private Investment Companies [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 43,433 | 284,393 | (96,298) | (429,868) | |
Net unrealized gain/(loss) on investments | 1,253,591 | 977,064 | |||
(Purchases) sales of: | |||||
Sales of Investments | 4,712,266 | 5,461,344 | |||
Purchase of Investments | (2,928,656) | (7,857,452) | |||
Equinox Frontier Masters Fund [Member] | US Treasury Securities [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | (27,844) | 5,333 | 45,508 | 286,742 | |
Net unrealized gain/(loss) on investments | (10,785) | (328,820) | |||
(Purchases) sales of: | |||||
Sales of Investments | 1,553,660 | 3,016,330 | |||
Purchase of Investments | (2,041,104) | ||||
Interest and premium paid/amortized | 14,162 | 29,147 | |||
Equinox Frontier Long/Short Commodity Fund [Member] | |||||
Cash Flows from Operating Activities: | |||||
Net increase/(decrease) in capital resulting from operations | (127,872) | 32,454 | (475,610) | (363,020) | |
Change in: | |||||
Net change in ownership allocation of U.S. Treasury securities | (208,272) | 2,332,067 | |||
Increase and/or decrease in: | |||||
Investments in unconsolidated trading companies, at fair value | 21,650 | (82,293) | |||
Interest receivable | 8,761 | (2,671) | |||
Receivable from related parties | 87,670 | ||||
Other assets | (43,557) | ||||
Management fees payable to Managing Owner | |||||
Interest payable to Managing Owner | (59) | 9 | |||
Trading fees payable to Managing Owner | (2,866) | (10,716) | |||
Service fees payable to Managing Owner | (106) | (1,970) | |||
Payables to related parties | (1,603,124) | ||||
Other liabilities | (3) | (5,481) | |||
Net cash provided by (used in) operating activities | 643,583 | 4,476,644 | |||
Cash Flows from Financing Activities: | |||||
Payment for redemption of units | (769,015) | (4,157,575) | |||
Owner redemptions payable | 6,185 | 67,290 | |||
Net cash provided by (used in) financing activities | (762,830) | (4,090,285) | |||
Net increase (decrease) in cash and cash equivalents | (119,246) | 386,359 | |||
Cash and cash equivalents, beginning of period | 152,200 | ||||
Cash and cash equivalents, end of period | 32,954 | 386,359 | 32,954 | 386,359 | 152,200 |
Equinox Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 110,281 | (2,553) | 186,723 | 4,741 | |
Net unrealized gain/(loss) on investments | 274,347 | 329,330 | |||
(Purchases) sales of: | |||||
Sales of Investments | 1,691,274 | 5,356,545 | |||
Purchase of Investments | (1,081,849) | (2,634,827) | |||
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | (39,017) | (50,384) | |||
Net unrealized gain/(loss) on investments | (74,902) | (39,954) | |||
(Purchases) sales of: | |||||
Reduction of collateral | 3,850,050 | ||||
Equinox Frontier Long/Short Commodity Fund [Member] | US Treasury Securities [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 2,297 | 1,069 | 34,564 | (227,895) | |
Net unrealized gain/(loss) on investments | (1,715) | 212,189 | |||
(Purchases) sales of: | |||||
Sales of Investments | 1,189,411 | (2,713,824) | |||
Purchase of Investments | (887,337) | ||||
Interest and premium paid/amortized | 13,128 | (10,182) | |||
Equinox Frontier Balanced Fund [Member] | |||||
Cash Flows from Operating Activities: | |||||
Net increase/(decrease) in capital resulting from operations | (1,596,699) | (440,957) | (5,160,938) | (1,716,147) | |
Change in: | |||||
Net change in open trade equity/(deficit), at fair value | 201,996 | 397,395 | |||
Net change in ownership allocation of U.S. Treasury securities | 53,128 | 7,943,201 | |||
Increase and/or decrease in: | |||||
Receivable from futures commission merchants | 4,727,066 | 492,880 | |||
Investments in unconsolidated trading companies, at fair value | 1,033,362 | 3,213,364 | |||
Due from Managing Owner | 184,106 | ||||
Interest receivable | 2,361 | 174,699 | |||
Receivable from related parties | 346,875 | ||||
Other assets | (40,189) | (85,207) | |||
Incentive fees payable to Managing Owner | 11,554 | ||||
Management fees payable to Managing Owner | 1,063 | (12,438) | |||
Interest payable to Managing Owner | (32,716) | (18,335) | |||
Trading fees payable to Managing Owner | (26,198) | (53,625) | |||
Service fees payable to Managing Owner | 302 | 9,837 | |||
Risk analysis fees payable | 8,276 | ||||
Other liabilities | 125,196 | (89,587) | |||
Net cash provided by (used in) operating activities | 7,997,866 | 31,918,288 | |||
Cash Flows from Financing Activities: | |||||
Proceeds from sale of units | 162,799 | ||||
Payment for redemption of units | (8,088,356) | (31,560,889) | |||
Owner redemptions payable | 31,266 | (496,370) | |||
Net cash provided by (used in) financing activities | (8,057,090) | (31,894,460) | |||
Net increase (decrease) in cash and cash equivalents | (59,224) | 23,828 | |||
Cash and cash equivalents, beginning of period | 164,332 | 1,083,579 | 1,083,579 | ||
Cash and cash equivalents, end of period | 105,108 | 1,107,407 | 105,108 | 1,107,407 | 164,332 |
Equinox Frontier Balanced Fund [Member] | Private Investment Companies [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | (8,097) | (689,463) | (244,703) | (3,954,532) | |
Net unrealized gain/(loss) on investments | 373,146 | 727,964 | 3,522,386 | 1,919,200 | |
(Purchases) sales of: | |||||
Sales of Investments | 9,805,250 | 30,906,344 | |||
Purchase of Investments | (6,751,508) | (15,315,922) | |||
Equinox Frontier Balanced Fund [Member] | Swap [Member] | |||||
Change in: | |||||
Net unrealized gain/(loss) on investments | 620,424 | (356,572) | (509,226) | (420,488) | |
(Purchases) sales of: | |||||
Reduction of collateral | 2,000,000 | 7,514,000 | |||
Equinox Frontier Balanced Fund [Member] | US Treasury Securities [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 18,391 | 63,298 | 228,904 | ||
Net unrealized gain/(loss) on investments | (421) | 3,909 | 6,119 | (483,160) | |
(Purchases) sales of: | |||||
Sales of Investments | 2,213,107 | 887,884 | |||
Purchase of Investments | (3,228,823) | ||||
Interest and premium paid/amortized | 41,873 | 24,870 | |||
Equinox Frontier Select Fund [Member] | |||||
Cash Flows from Operating Activities: | |||||
Net increase/(decrease) in capital resulting from operations | 38,170 | (332,881) | (1,063,652) | (2,418,472) | |
Change in: | |||||
Net change in open trade equity/(deficit), at fair value | 686,022 | ||||
Net change in ownership allocation of U.S. Treasury securities | 509,154 | 821,516 | |||
Increase and/or decrease in: | |||||
Receivable from futures commission merchants | 8,208,218 | ||||
Change in control of ownership - trading companies | (3,675,188) | ||||
Investments in unconsolidated trading companies, at fair value | 63,092 | 3,361,211 | |||
Interest receivable | 6,820 | 51,905 | |||
Receivable from related parties | 103,407 | ||||
Other assets | (17,218) | ||||
Management fees payable to Managing Owner | (21,219) | ||||
Interest payable to Managing Owner | (593) | (2,644) | |||
Trading fees payable to Managing Owner | (6,368) | (2,558) | |||
Service fees payable to Managing Owner | (6,993) | (9,316) | |||
Risk analysis fees payable | (2,303) | ||||
Other liabilities | (5,725) | (5,863) | |||
Net cash provided by (used in) operating activities | 1,243,654 | 3,870,476 | |||
Cash Flows from Financing Activities: | |||||
Proceeds from sale of units | 99,812 | ||||
Payment for redemption of units | (1,346,141) | (3,914,340) | |||
Owner redemptions payable | 10,437 | (132,437) | |||
Net cash provided by (used in) financing activities | (1,335,704) | (3,946,965) | |||
Net increase (decrease) in cash and cash equivalents | (92,050) | (76,489) | |||
Cash and cash equivalents, beginning of period | 114,973 | 432,021 | 432,021 | ||
Cash and cash equivalents, end of period | 22,923 | 355,532 | 22,923 | 355,532 | 114,973 |
Equinox Frontier Select Fund [Member] | Private Investment Companies [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 61,092 | 47,803 | 1,526 | 45,798 | |
Net unrealized gain/(loss) on investments | (163,993) | 246,067 | 797,340 | 779,294 | |
(Purchases) sales of: | |||||
Sales of Investments | 3,809,055 | 1,034,717 | |||
Purchase of Investments | (2,471,708) | (6,800,023) | |||
Equinox Frontier Select Fund [Member] | US Treasury Securities [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 1,918 | 14,456 | 170,783 | ||
Net unrealized gain/(loss) on investments | (13,357) | (1,751) | (1,522) | (202,502) | |
(Purchases) sales of: | |||||
Sales of Investments | 501,919 | 1,731,714 | |||
Purchase of Investments | (899,134) | ||||
Interest and premium paid/amortized | 9,132 | 15,979 | |||
Equinox Frontier Winton Fund [Member] | |||||
Cash Flows from Operating Activities: | |||||
Net increase/(decrease) in capital resulting from operations | (187,632) | 18,011 | (1,193,745) | (2,377,597) | |
Change in: | |||||
Net change in open trade equity/(deficit), at fair value | 1,682,758 | ||||
Net change in ownership allocation of U.S. Treasury securities | (1,817,543) | (4,622,172) | |||
Increase and/or decrease in: | |||||
Receivable from futures commission merchants | 4,110,059 | ||||
Change in control of ownership - trading companies | (2,330,730) | ||||
Investments in unconsolidated trading companies, at fair value | 2,976,782 | 2,563,419 | |||
Interest receivable | 76,588 | 240,952 | |||
Receivable from related parties | 58,146 | 551,508 | |||
Other assets | (18,359) | ||||
Management fees payable to Managing Owner | (18,565) | (162,168) | |||
Interest payable to Managing Owner | (5,222) | (30,730) | |||
Trading fees payable to Managing Owner | (19,877) | (13,939) | |||
Service fees payable to Managing Owner | (5,901) | 9,638 | |||
Risk analysis fees payable | 13,842 | ||||
Payables to related parties | (152,219) | ||||
Other liabilities | (82,266) | 110,418 | |||
Net cash provided by (used in) operating activities | 2,314,346 | 12,426,150 | |||
Cash Flows from Financing Activities: | |||||
Proceeds from sale of units | 283,970 | ||||
Payment for redemption of units | (3,380,412) | (7,243,617) | |||
Owner redemptions payable | 7,649 | (9,900) | |||
Net cash provided by (used in) financing activities | (3,372,763) | (6,969,547) | |||
Net increase (decrease) in cash and cash equivalents | (1,058,417) | 5,456,603 | |||
Cash and cash equivalents, beginning of period | 1,403,125 | 1,628,208 | 1,628,208 | ||
Cash and cash equivalents, end of period | 344,707 | 7,084,811 | 344,707 | 7,084,811 | 1,403,125 |
Equinox Frontier Winton Fund [Member] | US Treasury Securities [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 48,714 | 253,908 | 1,104,301 | ||
Net unrealized gain/(loss) on investments | 41,503 | 11,591 | (11,126) | (1,194,837) | |
(Purchases) sales of: | |||||
Sales of Investments | 8,763,300 | 12,652,125 | |||
Purchase of Investments | (6,626,880) | ||||
Interest and premium paid/amortized | 137,325 | 119,303 | |||
Equinox Frontier Heritage Fund [Member] | |||||
Cash Flows from Operating Activities: | |||||
Net increase/(decrease) in capital resulting from operations | (63,010) | (93,808) | (1,000,357) | (1,171,891) | |
Change in: | |||||
Net change in ownership allocation of U.S. Treasury securities | (54,774) | 635,669 | |||
Increase and/or decrease in: | |||||
Change in control of ownership - trading companies | (2,424,186) | ||||
Investments in unconsolidated trading companies, at fair value | 636,915 | 1,418,793 | |||
Interest receivable | 14,617 | 63,252 | |||
Receivable from related parties | 131,430 | ||||
Other assets | (10,159) | ||||
Management fees payable to Managing Owner | (7,101) | (56,501) | |||
Interest payable to Managing Owner | (690) | (5,244) | |||
Trading fees payable to Managing Owner | (3,723) | (3,472) | |||
Service fees payable to Managing Owner | (1,482) | (2,721) | |||
Other liabilities | (1,474) | (18,085) | |||
Net cash provided by (used in) operating activities | 593,981 | 4,059,129 | |||
Cash Flows from Financing Activities: | |||||
Proceeds from sale of units | 34,436 | ||||
Payment for redemption of units | (795,000) | (3,664,806) | |||
Owner redemptions payable | 924 | 33,898 | |||
Net cash provided by (used in) financing activities | (794,077) | (3,596,472) | |||
Net increase (decrease) in cash and cash equivalents | (200,096) | 462,657 | |||
Cash and cash equivalents, beginning of period | 259,161 | 382,499 | 382,499 | ||
Cash and cash equivalents, end of period | 59,065 | 845,156 | 59,065 | 845,156 | $ 259,161 |
Equinox Frontier Heritage Fund [Member] | Private Investment Companies [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 17,465 | 98,763 | |||
Net unrealized gain/(loss) on investments | (21,582) | 120,769 | 498,155 | 120,769 | |
(Purchases) sales of: | |||||
Sales of Investments | 763,850 | 5,000,000 | |||
Purchase of Investments | (683,033) | (2,306,940) | |||
Equinox Frontier Heritage Fund [Member] | Swap [Member] | |||||
Change in: | |||||
Net unrealized gain/(loss) on investments | (6,454) | (110,814) | 84,079 | 513,913 | |
Equinox Frontier Heritage Fund [Member] | US Treasury Securities [Member] | |||||
Change in: | |||||
Net realized gain/(loss) on investments | 7,717 | 40,316 | 211,694 | ||
Net unrealized gain/(loss) on investments | $ 1,094 | $ (238) | (2,583) | (291,328) | |
(Purchases) sales of: | |||||
Sales of Investments | 1,393,371 | 2,231,740 | |||
Purchase of Investments | (1,204,398) | ||||
Interest and premium paid/amortized | $ 23,530 | $ 22,396 |
Organization and Purpose
Organization and Purpose | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Organization and Purpose | 1. Organization and Purpose Frontier Funds (formerly Equinox Frontier Funds), which is referred to in this report as “the Trust”, was formed on August 8, 2003, as a Delaware statutory trust. The Trust is a multi-advisor commodity pool, as described in Commodity Futures Trading Commission (the “CFTC”) Regulation § 4.10(d)(2). The Trust has authority to issue separate series, or each, a Series, of units of beneficial interest (the “Units”) pursuant to the requirements of the Delaware Statutory Trust Act, as amended (the “Trust Act”). The assets of each Series are valued and accounted for separately from the assets of other Series. The Trust is not registered as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). The Trust is managed by Frontier Fund Management LLC (the “Managing Owner”). The Managing Owner was incorporated in Delaware in November, 2016. The Managing Owner has delegated its commodity pool operator (“CPO”) responsibilities to Wakefield Advisors LLC pursuant to the Commodity Pool Operator Delegation Agreement between the Managing Owner and Wakefield Advisors LLC, which has been registered with the CFTC as a commodity pool operator since January 7, 2013, and has been a member of the NFA since that date. Under the Commodity Pool Operator Delegation Agreement, Wakefield does not receive any fees or remuneration from the Managing Owner in connection with the performance of its obligations thereunder. The Commodity Pool Operator Delegation Agreement is effective until terminated by either the Managing Owner or Wakefield, or until Wakefield is no longer registered as a CPO (unless excluded or exempt from CPO registration under the Commodity Exchange Act, as amended (the “Commodity Exchange Act”)). The Managing Owner remains jointly and severally liable with Wakefield Advisors LLC for violations of the Commodity Exchange Act and CPO Regulations. However, Wakefield Advisors LLC will indemnify the Managing Owner from and against any and all loss, liability, damage, penalty, fine, cost and expense (including attorneys’, accountants’, experts’, and other professionals’ fees and expenses incurred in investigation or defense of any and all demands, claims, actions, suits, or arbitrations) actually and reasonably incurred by the Managing Owner, based upon, arising out of or from, or in any way in connection with, any act, activity, conduct, performance, omission, or non-performance by the Wakefield Advisors LLC of any of its functions as CPO or which violates the Commodity Exchange Act or CPO Regulations in connection with its functions as CPO. Purchasers of Units are limited owners of the Trust (“Limited Owners”) with respect to beneficial interests of the Series’ Units purchased. The Trust Act provides that, except as otherwise provided in the second amended and restated declaration of trust and trust agreement dated December 9, 2013, as further amended, by and among the Managing Owner, Wilmington Trust Company as trustee and the unitholders, as amended from time to time (the “Trust Agreement”), unitholders in a Delaware statutory trust will have the same limitation of liability as do stockholders of private corporations organized under the General Corporation Law of the State of Delaware. The Trust Agreement confers substantially the same limited liability, and contains the same limited exceptions thereto, as would a limited partnership agreement for a Delaware limited partnership engaged in like transactions as the Trust. In addition, pursuant to the Trust Agreement, the Managing Owner of the Trust is liable for obligations of a Series in excess of that Series’ assets. Limited Owners do not have any such liability. The Managing Owner will make contributions to Series of the Trust necessary to maintain at least a 1% interest in the aggregate capital, profits and losses of the combined Series of the Trust. The Trust has been organized to pool investor funds to trading in the United States (“U.S.”) and international markets for currencies, interest rates, stock indices, agricultural and energy products, precious and base metals and other commodities. The Trust may also engage in futures contracts, forwards, option contracts and other interest in derivative instruments, including swap contracts. The Trust has seven (7) separate and distinct series of Units issued and outstanding: Frontier Diversified Fund, Frontier Masters Fund, Frontier Long/Short Commodity Fund, Frontier Balanced Fund, Frontier Select Fund, Frontier Winton Fund and Frontier Heritage Fund, (each a “Series” and collectively, the “Series”). The Trust financial statements are comprised of unitized Series which are consolidated into the Trust financial statements. However, the consolidated Trust does not issue units. The Trust, with respect to each Series: ● engages in the speculative trading of a diversified portfolio of futures, forwards (including interbank foreign Currencies), options contracts and other derivative instruments (including swap contracts), and may, from time to time, engage in cash and spot transactions; ● allocates funds to a limited liability trading company or companies affiliated with the Managing Owner (“Trading Company” or “Trading Companies” or to an unaffiliated series limited liability company (“Galaxy Plus entities” or “Galaxy Plus entity”), each of which has one-year renewable contracts with its own independent trading advisor(s) (each a “Trading Advisor”) that will manage all or a portion of the applicable Trading Company’s or Galaxy Plus entity’s assets, and make the trading decisions for the assets of each Series vested in such Trading Company of Galaxy Plus entity. The assets of each Trading Company and Galaxy Plus entity will be segregated from the assets of the other Trading Companies and Galaxy Plus entities. ● maintains separate, distinct records for each Series, and accounts for the assets of each Series separately from the other Series; ● calculates the Net Asset Value (“NAV”) of its Units for each Series separately from the other Series; ● has an investment objective of increasing the value of each Series’ Units over the long term (capital appreciation), while managing risk and volatility; further, to offer exposure to the investment programs of individual Trading Advisors and to specific instruments; ● maintains each Series of Units in three to seven sub-classes—Class 1, Class 1AP, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of Frontier Diversified Fund, Frontier Masters Fund, and Frontier Long/Short Commodity Fund are charged a service fee of up to two percent (2.0%) annually of the NAV (or the purchase price, in case of the initial service fee) of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to two percent (2.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 or Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to two percent (2.0%) of the purchase price at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. Investors who have purchased Class 1 or Class 1a Units of Frontier Balanced Fund, Frontier Heritage Fund, Frontier Select Fund, and Frontier Winton Fund are charged a service fee of up to three percent (3.0%) annually of the NAV (of the purchase price, in case of the initial service fee) of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to selling agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Frontier Diversified Fund, and Frontier Masters Fund or Class 2a Units of the Frontier Long/Short Commodity Fund sold until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series. Class 1AP was created as a sub-class of Class 1 and it has been presented separately because the fees applicable to it are different from those applicable to Class 1. Currently the service fee is not charged to Class 1AP investors. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such selling agents; and ● all payments made to selling agents who are members of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and their associated persons that constitute underwriting compensation will be subject to the limitations set forth in Rule 2310(b)(4)(B)(ii) (formerly Rule 2810(b)(4)(B)(ii)) of the Conduct Rules of FINRA (“Rule 2310”). An investor’s Class 1 Units or Class 2 Units of any Series, or Class 1a Units or Class 2a Units of the Frontier Long/Short Commodity Fund or Frontier Balanced Fund will be classified as Class 3 or Class 3a Units of such Series, as applicable, when the Managing Owner determines that the fee limitation with respect to such Units has been reached or will be reached. The service fee limit applicable to each unit sold is reached upon the earlier of when (I) the aggregate initial and ongoing service fees received by the selling agent with respect to such unit equals 9% of the purchase price of such unit or (ii) the aggregate underwriting compensation (determined in accordance with FINRA Rule 2310) paid in respect of such unit totals 10% of the purchase price of such unit. No service fees are paid with respect to Class 3 or Class 3a Units. Units of any Class in a Series may be redeemed, in whole or in part, on a daily basis, at the then current NAV per Unit for such Series on the day of the week after the date the Managing Owner is in receipt of a redemption request for at least one (1) Business Day to be received by the Managing Owner prior to 4:00 PM in New York. The assets of any particular Series include only those funds and other assets that are paid to, held by or distributed to the Trust on account of and for the benefit of that Series. Under the “Inter-Series Limitation on Liability” expressly provided for under Section 3804(a) of the Trust Act, separate and distinct records of the cash and equivalents, although pooled for maximizing returns, are maintained in the books and records of each Series. As of September 30, 2018, the total Units outstanding were 144,766 for the Frontier Diversified Fund, 64,542 for the Frontier Masters Fund, 30,739 for the Frontier Long/Short Commodity Fund, 275,120 for the Frontier Balanced Fund, 57,387 for the Frontier Select Fund, 69,343 for the Frontier Winton Fund and 41,833 for the Frontier Heritage Fund. As of September 30, 2018, the Trust, with respect to the Frontier Diversified Fund and Frontier Masters Fund, separates Units into three separate Classes—Class 1, Class 2, and Class 3. The Trust, with respect to the Frontier Select Fund, Frontier Winton Fund, and Frontier Heritage separates Units into a maximum of three separate Classes—Class 1, Class 2 and Class 1AP. The Trust, with respect to the Frontier Balanced Fund separates Units into a maximum of five separate Classes— Class 1, Class 1AP, Class 2, Class 2A and Class 3A. The Trust, with respect to the Frontier Long/Short Commodity Fund separates Units into a maximum of five separate Classes—Class 1A, Class 2A, Class 2, Class 3A and Class 3. On May 10, 2017, the interests Frontier Trading Company XV, LLC, which included exposure to Transtrend B.V.’s TT Enhanced Risk (USD) Program, were transferred to an individual Delaware limited liability company (“Master Fund”) in Galaxy Plus. The Master Fund is sponsored and operated by Gemini Alternative Funds, LLC (“Sponsor”). The Sponsor has contracted with the Trading Advisors to manage the portfolios of the Master Funds pursuant to the advisors’ respective program. For those Series that invest in Galaxy Plus, approximately 30-70% of those Series assets are used to support the margin requirements of the Master Funds. The remaining assets of the Series are split between investments in Trading Companies and a pooled cash management account that invests primarily in U.S. Treasury securities. For those Series that do not invest in Galaxy Plus, their assets are split between investments in Trading Companies and investments in the pooled cash management account. As of September 30, 2018, Frontier Winton Fund has invested a portion of its assets into two Trading Companies, and a single Trading Advisor manages 100% of the assets invested in each of these Trading Companies. Each of the remaining Series has invested a portion of its assets in several different Trading Companies or Galaxy Plus entities and one or more Trading Advisors may manage the assets invested in such Trading Companies or Galaxy Plus entities. |
Equinox Frontier Fund [Member] | |
Organization and Purpose | 1. Organization and Purpose Frontier Funds, which is referred to in this report as the “Trust”, was formed on August 8, 2003, as a Delaware statutory trust and is set to expire on December 31, 2053. The Trust is a multi-advisor commodity pool, as described in CFTC Regulation § 4.10(d)(2). The Trust has authority to issue separate Series of Units pursuant to the requirements of the Trust Act. The assets of each Series are valued and accounted for separately from the assets of other Series. The Trust is not registered as an investment company under the Investment Company Act. It is managed by the Managing Owner. Purchasers of Units are Limited Owners of the Trust with respect to beneficial interests of the Series’ Units purchased. The Trust Act provides that, except as otherwise provided in the second amended and restated declaration of trust and trust agreement dated December 9, 2013, as further amended, by and among the Managing Owner, Wilmington Trust Company as trustee and the unitholders, as amended from time to time (the “Trust Agreement”), unitholders of the Trust will have the same limitation of liability as do stockholders of private corporations organized under the General Corporation Law of the State of Delaware. The Trust Agreement confers substantially the same limited liability, and contains the same limited exceptions thereto, as would a limited partnership agreement for a Delaware limited partnership engaged in like transactions as the Trust. In addition, pursuant to the Trust Agreement, the Managing Owner of the Trust is liable for obligations of a Series in excess of that Series’ assets. Limited Owners do not have any such liability. The Managing Owner will make contributions to the Series of the Trust necessary to maintain at least a 1% interest in the aggregate capital, profits and losses of all Series. The Trust has been organized to pool investor funds for the purpose of trading in the U.S. and international markets for currencies, interest rates, stock indices, agricultural and energy products, precious and base metals and other commodities. The Trust may also engage in futures contracts, forwards, option contracts and other interest in derivative instruments, including swap contracts. The Trust has seven (7) separate and distinct Series of Units issued and outstanding: Frontier Diversified Fund, Frontier Masters Fund, Frontier Long/Short Commodity Fund, Frontier Balanced Fund, Frontier Select Fund, Frontier Winton Fund, and Frontier Heritage Fund. The Trust financial statements are comprised of unitized Series which are consolidated into the Trust financial statements. However, the consolidated Trust does not issue units. The Trust, with respect to each Series: ● engages in the speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts), and may, from time to time, engage in cash and spot transactions; ● allocates funds to a limited liability trading company or companies (“Trading Company” or “Trading Companies”) and Galaxy Plus entities (“Galaxy Plus”). Except as otherwise described in these notes, each Trading Company and Galaxy Plus entity has one-year renewable contracts with its own independent commodity trading advisor (s), or each, a Trading Advisor, that will manage all or a portion of such Trading Company’s and Galaxy Plus assets and make the trading decisions for the assets of each Series vested in such Trading Company and Galaxy Plus entity. Each Trading Company and Galaxy Plus entity will segregate its assets from any other Trading Company and Galaxy Plus entity; ● maintains separate, distinct records for each Series, and accounts for the assets of each Series separately from the other Series; ● calculates the Net Asset Value (“NAV”) of its Units for each Series separately from the other Series; ● has an investment objective of increasing the value of each Series’ Units over the long term (capital appreciation), while managing risk and volatility; further, to offer exposure to the investment programs of individual Trading Advisors and to specific instruments; ● maintains each Series of Units in three to seven sub-classes—Class 1, Class 1AP, Class 1a, Class 2, Class 2a, Class 3, and Class 3a. Investors who have purchased Class 1 or Class 1a Units of Frontier Diversified Fund, Frontier Masters Fund, and Frontier Long/Short Commodity Fund are charged a service fee of up to two percent (2.0%) annually of the NAV (of the purchase price, in case of the initial service fee) of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to two percent (2.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale; provided, however, that investors who redeem all or a portion of their Class 1 or Class 1a Units of any Series during the first twelve (12) months following the effective date of their purchase are subject to a redemption fee of up to two percent (2.0%) of the purchase price at which such investor redeemed to reimburse the Managing Owner for the then-unamortized balance of the prepaid initial service fee. Investors who have purchased Class 1 or Class 1a Units of Frontier Balanced Fund, Frontier Heritage Fund, Frontier Select Fund, and Frontier Winton Fund are charged a service fee of up to three percent (3.0%) annually of the NAV (of the purchase price, in case of the initial service fee) of each Unit purchased, for the benefit of selling agents selling such Class 1 or Class 1a Units. The initial service fee, which is amortized monthly at an annual rate of up to three percent (3.0%) of the average daily NAV of Class 1 or Class 1a of such Series, is prepaid to the Managing Owner by each Series, and paid to the selling agents by the Managing Owner in the month following sale. With respect to Class 2 and Class 2a Units of any Series, the Managing Owner pays an ongoing service fee to selling agents of up to one half percent (0.5%) annually of the NAV of each Class 2 or Class 2a Unit (of which 0.25% will be charged to Limited Owners holding Class 2 Units of the Frontier Diversified Fund, and Frontier Masters Fund or Class 2a Units of the Frontier Long/Short Commodity Fund sold until such Class 2 or Class 2a Units which are subject to the fee limitation are reclassified as Class 3 or Class 3a Units of the applicable Series. Class 1AP was created as a sub-class of Class 1 and it has been presented separately because the fees applicable to it are different from those applicable to Class 1. Currently the service fee is not charged to Class 1AP investors. The Managing Owner may also pay selling agents certain additional fees and expenses for administrative and other services rendered and expenses incurred by such selling agents; and ● all payments made to selling agents who are members of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and their associated persons that constitute underwriting compensation will be subject to the limitations set forth in Rule 2310(b)(4)(B)(ii) (formerly Rule 2810(b)(4)(B)(ii)) of the Conduct Rules of FINRA (“Rule 2310”). An investor’s Class 1 Units or Class 2 Units of any Series, or Class 1a Units or Class 2a Units of the Frontier Long/Short Commodity Fund or Frontier Balanced Fund will be classified as Class 3 or Class 3a Units of such Series, as applicable, when the Managing Owner determines that the fee limitation set forth in Rule 2310 with respect to such Units has been reached or will be reached. The service fee limit applicable to each unit sold is reached upon the earlier of when (i) the aggregate initial and ongoing service fees received by the selling agent with respect to such unit equals 9% of the purchase price of such unit or (ii) the aggregate underwriting compensation (determined in accordance with FINRA Rule 2310) paid in respect of such unit totals 10% of the purchase price of such unit. No service fees are paid with respect to Class 3 or Class 3a Units. Units of any Class in a Series may be redeemed, in whole or in part, on a daily basis, at the then current NAV per Unit for such Series on the day of the week after the date the Managing Owner is in receipt of a redemption request for at least one (1) Business Day to be received by the Managing Owner prior to 4:00 PM in New York. The assets of any particular Series include only those funds and other assets that are paid to, held by or distributed to the Trust on account of and for the benefit of that Series. Under the “Inter-Series Limitation on Liability” expressly provided for under Section 3804(a) of the Trust Act, separate and distinct records of the cash and equivalents, although pooled for maximizing returns, is maintained in the books and records of each Series. As of September 30, 2018, the Trust, with respect to the Frontier Diversified Fund and Frontier Masters Fund, separates Units into three separate Classes—Class 1, Class 2, and Class 3. The Trust, with respect to the Frontier Select Fund Frontier Winton Fund and Frontier Heritage Fund separates Units into a maximum of three separate Classes- Class 1, Class 2 and Class 1AP. The Trust, with respect to the Frontier Balanced Fund separates Units into a maximum of five separate Classes— Class 1, Class 1AP, Class 2, Class 2A and Class 3A. The Trust, with respect to the Frontier Long/Short Commodity Fund separates Units into a maximum of five separate Classes— Class 1A, Class 2A, Class 2, Class 3A and Class 3. Between April 15, 2016 and May 10, 2017, a portion of the interests in Frontier Trading Company I, LLC and all of the interests in Frontier Trading Company VII, LLC, Frontier Trading Company XV, LLC, and Frontier Trading Company XXIII LLC held by Frontier Diversified Fund, Frontier Masters Fund, Frontier Select Fund, Frontier Balanced Fund and Frontier Long/Short Commodity Fund were exchanged for equivalent interests in the Galaxy Plus Managed Account Platform (“Galaxy Plus”) which is an unaffiliated, third-party managed account platform. The assets of Frontier Trading Company I, LLC, which included exposure to Quantmetrics Capital Management LLP’s Multi-Strategy Program, Quantitative Investment Management, LLC’s Quantitative Global Program, Quest Partners LLC’s Quest Tracker Index Program, and Doherty Advisors LLC’s Relative Value Moderate Program, the assets of Frontier Trading Company VII, LLC, which included exposure to Emil van Essen LLC’s Multi-Strategy Program, Red Oak Commodity Advisors, Inc.’s Fundamental Diversified Program, Rosetta Capital Management, LLC’s Rosetta Trading Program, and Landmark Trading Company’s Landmark Program, the assets of Frontier Trading Company XV, LLC, which included exposure to Transtrend B.V.’s TT Enhanced Risk (USD) Program, and the assets of Frontier Trading Company XXIII, LLC which included exposure to Fort L.P.’s Global Contrarian Program have been transferred to individual Delaware limited liability companies (“Master Funds”) in Galaxy Plus. Each Master Fund is sponsored and operated by Gemini Alternative Funds, LLC (“Sponsor”). The Sponsor has contracted with the Trading Advisors to manage the portfolios of the Master Funds pursuant to the advisors’ respective program. For those Series that invest in Galaxy Plus, approximately 30-70% of those Series assets are used to support the margin requirements of the Master Funds. The remaining assets of the Series are split between investments in Trading Companies and a pooled cash management account that invests primarily in U.S. Treasury securities. For those Series that do not invest in Galaxy Plus, their assets are split between investments in Trading Companies and investments in the pooled cash management account. As of September 30, 2018, Frontier Winton Fund has invested a portion of its assets into two Trading Companies, and a single Trading Advisor manages 100% of the assets invested in each of these Trading Companies. Each of the remaining Series has invested a portion of its assets in several different Trading Companies or Galaxy Plus entities and one or more Trading Advisors may manage the assets invested in such Trading Companies or Galaxy Plus entities. The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, currency trading companies, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Significant Accounting Policies | 2. Significant Accounting Policies The following are the significant accounting policies of the Series of the Trust. Basis of Presentation Consolidation Galaxy Plus entities are co-mingled investment vehicles. In addition to the Trust, there are other non-affiliated investors in Galaxy Plus. Subscriptions and redemptions by these non-affiliated investors will have a direct impact on the Trust ownership percentage in Galaxy Plus. It is expected that ownership percentage will fluctuate (sometimes significantly) on a week by week basis which could also result in frequent changes in the consolidating Series. Such fluctuations make consolidating the financial statements of the Galaxy Plus entities both impractical and misleading. Non-consolidation of these Galaxy Plus entities presents a more useful financial statement for the readers. As such, management has decided that presenting Galaxy Plus entities on a non-consolidated basis as investments in other investments companies (a “fund of funds” approach) is appropriate and preferable to the users of these financial statements. Refer to Note 5 for additional disclosures related to these private investment companies. Use of Estimates— Cash and Cash Equivalents— Interest Income— Aggregate interest income from all sources, including U.S. Treasury Securities assets net of premiums and cash held at clearing brokers, of up to the first 2% (annualized) is paid to the Managing Owner by the Frontier Balanced Fund (Class 1 and Class 2), Frontier Winton Fund, Frontier Select Fund, and Frontier Heritage Fund. For the Frontier Diversified Fund, Frontier Long/Short Commodity Fund (Class 1a, Class 2a, Class 3a only), Frontier Masters Fund, and Frontier Balanced Fund (Class 1AP, Class 2a and Class 3a) 100% of the interest is retained by the respective Series. All interest not paid to the Managing Owner is interest income to the Series, and shown net on the statement of operations. U.S. Treasury Securities— Fair Value Measurements and Disclosures (“ Receivable from Futures Commission Merchants— Investment Transactions— Balance Sheet (“ASC 210” Balance Sheet (Topic 210 Any change in net unrealized gain or loss from the preceding period is reported in the consolidated statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest was recognized in the period earned and the instruments were marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the consolidated statements of operations. Purchase and Sales of Private Investment Companies Foreign Currency Transactions— Allocation of Earnings— Each Series allocates funds to an affiliated Trading Company, or Companies, of the Trust, or unaffiliated Galaxy Plus entity. Each Trading Company allocates all of its daily trading gains or losses to the Series in proportion to each Series’ ownership trading level interest in the Trading Company, adjusted on a daily basis (except for Trading Advisors and other investments such as swaps that are directly allocated to a specific Series). Likewise, trading gains and losses earned and incurred by the Series through their investments in Galaxy Plus entities are allocated to those Series on a daily basis. The allocation of gains and losses in Galaxy Plus entities are based on each Series pro-rata shares of the trading level of that entity which is updated at the beginning of each month or more frequently if there is a subscription or redemption activity in the entity. The value of all open contracts and cash held at clearing brokers is similarly allocated to the Series in proportion to each Series’ funds allocated to the Trading Companies or Galaxy Plus entities. Investments and Swaps— Income Taxes Income Taxes In the opinion of the Managing Owner, (i) the Trust, with respect to the Series, is treated as a partnership for federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, (ii) the Trust is not a publicly traded partnership treated as a corporation, and (iii) the discussion set forth in the Prospectus under the heading “U.S. Federal Income Tax Consequences” correctly summarizes the material federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Units of the Trust. Fees and Expenses— Incentive Fee (rebate)— Service Fees These service fees are part of the offering costs of the Trust, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months. Pending Owner Additions— Owner redemptions payable— Subsequent Events— |
Equinox Frontier Fund [Member] | |
Significant Accounting Policies | 2. Significant Accounting Policies The following are the significant accounting policies of the Trust. Basis of Presentation Consolidation Galaxy Plus entities are co-mingled investment vehicles. In addition to the Trust, there are other non-affiliated investors in Galaxy Plus. Subscriptions and redemptions by these non-affiliated investors will have a direct impact on the Trust ownership percentage in Galaxy Plus. It is expected that ownership percentage will fluctuate (sometimes significantly) on a week by week basis which could also result in frequent changes in the consolidating Series. Such fluctuations make consolidating the financial statements of the Galaxy Plus entities both impractical and misleading. Non-consolidation of these Galaxy Plus entities presents a more useful financial statement for the readers. As such, management has decided that presenting Galaxy Plus entities on a non-consolidated basis as investments in other investments companies (a “fund of funds” approach) is appropriate and preferable to the users of these financial statements. Refer to Note 5 for additional disclosures related to these private investment companies. Use of Estimates— Cash and Cash Equivalents— Interest Income— U.S. Treasury Securities— Fair Value Measurements and Disclosures (“ Receivable from Futures Commission Merchants— Investment Transactions— Balance Sheet (“ASC 210” Balance Sheet (Topic 210 Any change in net unrealized gain or loss from the preceding period is reported in the consolidated statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest was recognized in the period earned and the instruments were marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the consolidated statements of operations. Purchase and Sales of Private Investment Companies Foreign Currency Transactions— Allocation of Earnings— Each Series allocates funds to an affiliated Trading Company, or Companies, of the Trust, or unaffiliated Galaxy Plus entity. Each Trading Company allocates all of its daily trading gains or losses to the Series in proportion to each Series’ ownership trading level interest in the Trading Company, adjusted on a daily basis (except for Trading Advisors and other investments such as swaps that are directly allocated to a specific series). Likewise, trading gains and losses earned and incurred by the Series through their investments in Galaxy Plus entities are allocated to those Series on a daily basis. The allocation of gains and losses in Galaxy Plus entities are based on each Series pro-rata shares of the trading level of that entity which is updated at the beginning of each month or more frequently if there is a subscription or redemption activity in the entity. The value of all open contracts and cash held at clearing brokers is similarly allocated to the Series in proportion to each Series’ funds allocated to the Trading Companies or Galaxy Plus entities. Investments and Swaps— Income Taxes Income Taxes In the opinion of the Managing Owner, (i) the Trust is treated as a partnership for Federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, (ii) the Trust is not a publicly traded partnership treated as a corporation, and (iii) the discussion set forth in the Prospectus under the heading “U.S. Federal Income Tax Consequences” correctly summarizes the material Federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Series Units of the Trust. Fees and Expenses— Incentive Fee (rebate)— Service Fees These service fees are part of the offering costs of the Trust, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months. Pending Owner Additions— Owner redemptions payable— Subsequent Events Subsequent Events |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Fair Value Measurements | 3. Fair Value Measurements In connection with the valuation of investments the Series apply ASC 820. ASC 820 provides clarification that when a quoted price in an active market for the identical asset or liability is not available, a reporting entity is required to measure fair value using certain techniques. ASC 820 also clarifies that when estimating the fair value of an asset or liability, a reporting entity is not required to include a separate input or adjustment to other inputs relating to the existence of a restriction that prevents the transfer of an asset or liability. ASC 820 also clarifies that both a quoted price in an active market for the identical asset or liability at the measurement date and the quoted price for the identical asset or liability when traded as an asset in an active market when no adjustments to the quoted price of the asset are required are Level 1 fair value measurements. Level 1 Inputs Unadjusted quoted prices in active markets for identical financial assets that the reporting entity has the ability to access at the measurement date. Level 2 Inputs Inputs other than quoted prices included in Level 1 that are observable for the financial assets or liabilities, either directly or indirectly. These might include quoted prices for similar financial assets in active markets, quoted prices for identical or similar financial assets in markets that are not active, inputs other than quoted prices that are observable for the financial assets or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs Unobservable inputs for determining the fair value of financial assets that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the financial asset. The Trust, with respect to the Series, uses the following methodologies to value instruments within its financial asset portfolio at fair value: Trading Securities. Swap Contracts. Investment in Unconsolidated Trading Companies. Investments in Private Investment Companies The following table summarizes the instruments that comprise the Trust, with respect to the Series, financial asset portfolio, by Series, measured at fair value on a recurring basis as of September 30, 2018 and December 31, 2017 segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value. Investments in private investment companies are valued utilizing the net asset values provided by the underlying private investment companies as a practical expedient. Each Series applies the practical expedient to its investments in private investment companies on an investment-by-investment basis, and consistently with the Series entire position in a particular investment, unless it is probable that the Series will sell a portion of an investment at an amount different from the net asset value of the investment. Level 1 Level 2 Level 3 Total September 30, 2018 Inputs Inputs Inputs Fair Value Frontier Diversified Fund Investment in Unconsolidated Trading Companies $ 1,169,987 $ (23,896 ) $ — $ 1,146,091 Swap Contracts — — 5,575,997 5,575,997 U.S. Treasury Securities 938,408 — — 938,408 Frontier Masters Fund Investment in Unconsolidated Trading Companies 991,679 (21,734 ) — 969,945 U.S. Treasury Securities 512,411 — — 512,411 Frontier Long/Short Commodity Fund Investment in Unconsolidated Trading Companies 99,860 — — 99,860 Swap Contracts — — 471,942 471,942 U.S. Treasury Securities 475,024 — — 475,024 Frontier Balanced Fund Investment in Unconsolidated Trading Companies 2,190,822 (46,008 ) — 2,144,814 Open Trade Equity (Deficit) (23,444 ) — — (23,444 ) Swap Contracts — — 9,850,185 9,850,185 U.S. Treasury Securities 1,515,106 — — 1,515,106 Frontier Select Fund Investment in Unconsolidated Trading Companies 69,462 — 538,309 607,771 U.S. Treasury Securities 330,422 — — 330,422 Frontier Winton Fund Investment in Unconsolidated Trading Companies 5,110,724 (99,932 ) — 5,010,792 U.S. Treasury Securities 4,968,843 — — 4,968,843 Frontier Heritage Fund Investment in Unconsolidated Trading Companies 928,475 (18,416 ) — 910,059 Swap Contracts — — 3,010,288 3,010,288 U.S. Treasury Securities 851,399 — — 851,399 Total December 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Fair Value Frontier Diversified Fund Investment in Unconsolidated Trading Companies $ 2,152,721 $ 55,593 $ — $ 2,208,314 Swap Contracts — — 6,376,472 6,376,472 U.S. Treasury Securities 767,049 — — 767,049 Frontier Masters Fund Investment in Unconsolidated Trading Companies 1,460,743 31,450 — 1,492,193 U.S. Treasury Securities 1,663,014 — — 1,663,014 Frontier Long/Short Commodity Fund Investment in Unconsolidated Trading Companies 121,510 — — 121,510 Swap Contracts — — 397,039 397,039 U.S. Treasury Securities 614,803 — — 614,803 Frontier Balanced Fund Investment in Unconsolidated Trading Companies 3,072,933 81,725 — 3,154,658 Open Trade Equity (Deficit) 144,983 33,569 — 178,552 Swap Contracts — — 11,340,959 11,340,959 U.S. Treasury Securities 663,808 — — 663,808 Frontier Select Fund Investment in Unconsolidated Trading Companies 91,790 — 579,073 670,863 U.S. Treasury Securities 464,427 — — 464,427 Frontier Winton Fund Investment in Unconsolidated Trading Companies 7,750,343 184,193 — 7,934,536 U.S. Treasury Securities 5,667,825 — — 5,667,825 Frontier Heritage Fund Investment in Unconsolidated Trading Companies 1,500,688 35,943 — 1,536,631 Swap Contracts — — 3,094,367 3,094,367 U.S. Treasury Securities 1,046,861 — — 1,046,861 The changes in Level 3 assets measured at fair value on a recurring basis are summarized in the following tables. Swap contract asset gains and losses (realized/unrealized) included in earnings are classified in “realized and unrealized gain (loss) on investments – net unrealized gain/(loss) on swap contracts” on the statements of operations. Investment in unconsolidated trading company asset gains and losses (realized/unrealized) included in earnings are classified in “Change in fair value of investments in unconsolidated trading companies.” During the nine months ended September 30, 2018, all identified Level 3 assets were components of the Frontier Diversified Fund, Frontier Long/Short Commodity Fund, Frontier Balanced Fund, Frontier Select Fund, and Frontier Heritage Fund. For the Nine Months Ended September 30, 2018 Swaps Frontier Long/Short Frontier Balanced Fund Commodity Fund Balance of recurring Level 3 assets as of January 1, 2018 $ 11,340,959 $ 397,039 Total gains or losses (realized/unrealized): Included in earnings-realized — — Included in earnings-unrealized 509,226 74,903 Proceeds from collateral reduction (2,000,000 ) — Change in ownership allocation — — Transfers in and/or out of Level 3 — — Balance of recurring Level 3 assets as of September 30, 2018 $ 9,850,185 $ 471,942 Frontier Diversified Fund Frontier Heritage Fund Balance of recurring Level 3 assets as of January 1, 2018 $ 6,376,472 $ 3,094,367 Total gains or losses (realized/unrealized): Included in earnings-realized — — Included in earnings-unrealized 299,525 (84,079 ) Proceeds from collateral reduction (1,100,000 ) — Change in ownership allocation — — Transfers in and/or out of Level 3 — — Balance of recurring Level 3 assets as of September 30, 2018 $ 5,575,997 $ 3,010,288 For the Year Ended December 31, 2017 Swaps Frontier Long/Short Frontier Balanced Fund Commodity Fund Balance of recurring Level 3 assets as of January 1, 2017 $ 18,939,450 $ 4,220,468 Total gains or losses (realized/unrealized): Included in earnings-realized — — Included in earnings-unrealized (84,491 ) 26,621 Proceeds from collateral reduction (7,514,000 ) (3,850,050 ) Change in ownership allocation — — Transfers in and/or out of Level 3 — — Balance of recurring Level 3 assets as of December 31, 2017 $ 11,340,959 $ 397,039 Frontier Diversified Fund Frontier Heritage Fund Balance of recurring Level 3 assets as of January 1, 2017 $ 8,637,847 $ 8,391,414 Total gains or losses (realized/unrealized): Included in earnings-realized — — Included in earnings-unrealized (47,375 ) (297,047 ) Proceeds from collateral reduction (2,214,000 ) (5,000,000 ) Change in ownership allocation — — Transfers in and/or out of Level 3 — — Balance of recurring Level 3 assets as of December 31, 2017 $ 6,376,472 $ 3,094,367 For the Nine Months Ended September 30, 2018 Investments in Unconsolidated Trading Companies: Frontier Select Fund Balance of recurring Level 3 assets as of January 1, 2018 $ 579,074 Change in fair value of investments in unconsolidated trading companies (40,765 ) Purchases of investments of unconsolidated trading companies — Change in ownership allocation — Transfers in and/or out of Level 3 — Balance of recurring Level 3 assets as of September 30, 2018 $ 538,309 Investments in Unconsolidated Trading Companies: Frontier Select Fund Balance of recurring Level 3 assets as of January 1, 2017 $ 3,147,279 Change in fair value of investments in unconsolidated trading companies (144,019 ) Change in ownership allocation (2,424,187 ) Transfers in and/or out of Level 3 — Balance of recurring Level 3 assets as of December 31, 2017 $ 579,073 The Series of the Trust assess the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Series’ accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the nine months ended September 30, 2018, the Trust did not transfer any assets between Levels 1, 2 or 3. The amounts reflected in the change in ownership allocation result from changes in ownership in the underlying Trading Companies at the Series level, which have resulted in changes in consolidation or de-consolidation by the Series. The ownership in the Trading Companies is accounted for under the equity method, which approximates fair value. The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at September 30, 2018: Frontier Diversified Frontier Long/Short Frontier Balanced Fund Commodity Fund Fund Frontier Heritage Fund Swap Contracts $ 299,525 $ 74,903 $ 509,226 $ (84,079 ) Frontier Select Fund Investments in Unconsolidated Trading Companies $ (40,765 ) The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2017: Frontier Long/Short Frontier Balanced Frontier Heritage Frontier Diversified Fund Commodity Fund Fund Fund Swap Contracts $ (47,375 ) $ 26,621 $ (84,491 ) $ (297,047 ) Frontier Select Fund Investments in Unconsolidated Trading Companies $ (114,019 ) |
Equinox Frontier Fund [Member] | |
Fair Value Measurements | 3. Fair Value Measurements In connection with the valuation of investments the Trust applies ASC 820. ASC 820 provides clarification that when a quoted price in an active market for the identical asset or liability is not available, a reporting entity is required to measure fair value using certain techniques. ASC 820 also clarifies that when estimating the fair value of an asset or liability, a reporting entity is not required to include a separate input or adjustment to other inputs relating to the existence of a restriction that prevents the transfer of an asset or liability. ASC 820 also clarifies that both a quoted price in an active market for the identical asset or liability at the measurement date and the quoted price for the identical asset or liability when traded as an asset in an active market when no adjustments to the quoted price of the asset are required are Level 1 fair value measurements. Level 1 Inputs Unadjusted quoted prices in active markets for identical financial assets that the reporting entity has the ability to access at the measurement date. Level 2 Inputs Inputs other than quoted prices included in Level 1 that are observable for the financial assets or liabilities, either directly or indirectly. These might include quoted prices for similar financial assets in active markets, quoted prices for identical or similar financial assets in markets that are not active, inputs other than quoted prices that are observable for the financial assets or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs Unobservable inputs for determining the fair value of financial assets that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the financial asset. The Trust, with respect to the Series, uses the following methodologies to value instruments within its financial asset portfolio at fair value: Trading Securities. Swap Contracts. Investments in Private Investment Companies The following table summarizes the instruments that comprise the Trust financial asset portfolio, by Series, measured at fair value on a recurring basis as of September 30, 2018 and December 31, 2017 segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value. September 30, 2018 Level 1 Inputs Level 2 Inputs Level 3 Inputs Fair Value Open Trade Equity (Deficit) $ 645,197 $ (298,471 ) $ — $ 346,726 Swap Contracts — — 18,908,412 18,908,412 U.S. Treasury Securities 9,591,613 — — 9,591,613 Total December 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Fair Value Open Trade Equity (Deficit) $ 1,145,940 $ 422,474 $ — $ 1,568,414 Swap Contracts — — 21,208,838 21,208,838 U.S. Treasury Securities 10,887,786 — — 10,887,786 The changes in Level 3 assets measured at fair value on a recurring basis are summarized in the following tables. Swap contract asset gains and losses (realized/unrealized) included in earnings are classified in “realized and unrealized gain (loss) on investments – net unrealized gain/(loss) on swap contracts” on the statements of operations. Swaps For the Nine months ended September 30, 2018 Balance of recurring Level 3 assets as of January 1, 2018 21,208,838 Total gains or losses (realized/unrealized): Included in earnings-realized — Included in earnings-unrealized 799,575 Proceeds from collateral reduction (3,100,000 ) Purchase of investments — Sale of investments — Transfers in and/or out of Level 3 — Balance of recurring Level 3 assets as of September 30, 2018 18,908,412 For the Year ended December 31, 2017 Balance of recurring Level 3 assets as of January 1, 2017 $ 40,189,178 Total gains or losses (realized/unrealized): Included in earnings-realized — Included in earnings-unrealized (402,290 ) Proceeds from collateral reduction (18,578,050 ) Purchase of investments — Sale of investments — Transfers in and/or out of Level 3 — Balance of recurring Level 3 assets as of December 31, 2017 $ 21,208,838 The Trust assesses the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Trust’s accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the nine months ended September 30, 2018, the Trust did not transfer any assets between Levels 1, 2 and 3. The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at September 30, 2018: Swap contracts $ 799,575 The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2017: Swap contracts $ (402,290) |
Swap Contracts
Swap Contracts | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Swaps Contracts | 4. Swap Contracts In addition to authorizing Trading Advisors to manage pre-determined investment levels of futures, options on futures and forward contracts, certain Series of the Trust will strategically invest a portion or all of their assets in total return swaps, selected at the direction of the Managing Owner. Total return swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more investment products or indices. In a typical total return swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount or value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. Each Series’ investment in swaps will likely differ substantially over time due to cash flows, portfolio management decisions and market movements. The swaps serve to diversify the investment holdings of each Series and to provide access to programs and advisors that would not be otherwise available to the Series, and are not used for hedging purposes. The Managing Owner follows a procedure in selecting well-established financial institutions which the Managing Owner, in its sole discretion, considers to be reputable, reliable, financially responsible and well established to act as swap counterparties. The procedure includes due diligence review of documentation on all new and existing financial institution counterparties prior to initiation of the relationship, and quarterly ongoing review during the relationship, to ensure that counterparties meet the Managing Owner’s minimum credit requirements, the counterparty average rating being no less than an investment grade rating as defined by the rating agencies. As of September 30, 2018, and December 31, 2017, approximately 10.8% and 10.2%, respectively, of the Trust’s assets were deposited with over-the-counter counterparties in order to initiate and maintain swaps and is recorded as collateral within the swap fair value within the statement of financial condition. The cash held with the counterparty is not restricted. The Series may strategically invest assets in one or more swaps linked to certain underlying investments or indices at the direction of the Managing Owner. The Trading Company in which the assets of these Series will be invested will not own any of the investments or indices referenced by any swap entered into by these Series. In addition, neither the swap counterparty to the Trading Company of these Series nor any advisor referenced by any such swap is a Trading Advisor to these Series. To help to reduce counterparty risk on the Series, the Managing Owner has the right to reduce the Series’ exposure and remove cash from the Series’ total return swaps with Deutsche Bank AG. This cash holding shall be in excess of $250,000, and may not exceed 40% of the Index exposure in total. Index exposure is defined as the total notional amount plus any profit. The Series are charged interest on this cash holding and any amount removed will be offset against the final settlement value of the swap. As of September 30, 2018, the Frontier Balanced Fund, the Frontier Diversified Fund, the Frontier Long/Short Commodity Fund and Frontier Heritage Fund, have received from the swap counterparty $4,926,555, $2,500,000, $115,000 and $1,900,000, respectively. These amounts are shown on the Statements of Financial Conditions of the respective Series under advance on unrealized swap appreciation, which relates to the Trading Companies’ total return swaps with Deutsche Bank AG. The Series have invested in the following swaps as of and for the nine months ended September 30, 2018: Frontier Long/Short Frontier Heritage Frontier Balanced Fund Frontier Diversified Fund Commodity Fund Fund Total Return Swap Total Return Swap Total Return Swap Total Return Swap Counterparty DeutscheBank AG DeutscheBank AG DeutscheBank AG DeutscheBank AG Notional Amount $11,735,292 $3,054,369 $653,610 $2,072,056 Termination Date 3/31/2023 3/31/2023 3/31/2023 3/27/2023 Cash Collateral $86,000 $86,000 $29,950 $978,950 Swap Value $9,764,185 $5,489,997 $441,992 $2,031,338 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $0 $0 $0 $0 Change in Unrealized Gain/(Loss) $509,226 $299,525 $74,903 ($84,079) Fair Value as of September 30, 2018 $9,850,185 $5,575,997 $471,942 $3,010,288 Advance on swap appreciation ($4,926,555) ($2,500,000) ($115,000) ($1,900,000) The Series have invested in the following swaps as of and for the year ended December 31, 2017: Frontier Long/Short Commodity Frontier Balanced Fund Frontier Diversified Fund Fund Frontier Heritage Fund Total Return Swap Total Return Swap Total Return Swap Total Return Swap Counterparty DeutscheBank AG DeutscheBank AG DeutscheBank AG DeutscheBank AG Notional Amount $13,373,629 $4,651,155 $653,610 $2,072,056 Termination Date 8/2/2018 8/2/2018 8/7/2018 3/26/2018 Cash Collateral $2,086,000 $1,186,000 $29,950 $982,500 Swap Value $9,254,959 $5,190,472 $367,089 $2,111,867 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $0 $0 $0 $0 Change in Unrealized Gain/(Loss) ($84,491) ($47,375) $26,621 ($297,047) Fair Value as of 12/31/2017 $11,340,959 $6,376,472 $397,039 $3,094,367 Advance on swap appreciation ($4,926,555) ($2,500,000) ($115,000) ($1,900,000) |
Equinox Frontier Fund [Member] | |
Swaps Contracts | 4. Swaps Contracts In addition to authorizing Trading Advisors to manage pre-determined investment levels of futures and forward contracts, certain Series of the Trust will strategically invest a portion or all of their assets in total return swaps, selected at the direction of the Managing Owner. Total return swaps are privately negotiated contracts designed to provide investment returns linked to those produced by one or more investment products or indices. In a typical total return swap, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on one or more particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount” (i.e., the amount or value of the underlying asset used in computing the particular interest rate, return, or other amount to be exchanged) in a particular investment, or in a “basket” of securities. The Trust’s investment in swaps will likely differ substantially over time due to cash flows, portfolio management decisions and market movements. The swaps serve to diversify the investment holdings of the Trust and to provide access to programs and advisors that would not be otherwise available to the Trust, and are not used for hedging purposes. The Managing Owner follows a procedure in selecting well-established financial institutions which the Managing Owner, in its sole discretion, considers to be reputable, reliable, financially responsible and well established to act as swap counterparties. The procedure includes due diligence review of documentation on all new and existing financial institution counterparties prior to initiation of the relationship, and quarterly ongoing review during the relationship, to ensure that counterparties meet the Managing Owner’s minimum credit requirements, the counterparty average rating being no less than an investment grade rating as defined by the rating agencies. As of September 30, 2018 and December 31, 2017, approximately 1.46% or $1,180,900 and 3.80% or $4,284,450, respectively, of the Trust’s assets were deposited with over-the-counter counterparties in order to initiate and maintain swaps and is recorded as Swap Contracts, at fair value on the Statements of Financial Condition of the Trust. This cash held with the counterparty is not restricted. The Trust strategically invests assets in one or more swaps linked to certain underlying investments or indices at the direction of the Managing Owner. The Trading Company in which the assets of the Trust will be invested will not own any of the investments or indices referenced by any swap entered into by the Trust. In addition, neither the swap counterparty nor any advisor referenced by any such swap is a Trading Advisor to the Trust. The Trust had invested in the following swap contracts as of and for the nine months ended September 30, 2018: XXXIV Balanced select swap XXXV Diversified select swap XXXVII L/S select swap Brevan Howard Total Return Swap Total Return Swap Total Return Swap Total Return Swap Counterparty DeutscheBank AG DeutscheBank AG DeutscheBank AG DeutscheBank AG Notional Amount $11,735,292 $3,054,369 $653,610 $2,072,056 Termination Date 3/31/2023 3/31/2023 3/31/2023 3/27/2023 Cash Collateral $86,000 $86,000 $29,950 $978,950 Swap Value $9,764,185 $5,489,997 $441,992 $2,031,338 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $0 $0 $0 $0 Change in Unrealized Gain/(Loss) $509,226 $299,525 $74,903 ($84,079) Fair Value as of September 30, 2018 $9,850,185 $5,575,997 $471,942 $3,010,288 Advance on swap appreciation ($4,926,555) ($2,500,000) ($115,000) ($1,900,000) The Trust had invested in the following swap contracts as of and for the year ended December 31, 2017: XXXIV Balanced select swap XXXV Diversified select swap XXXVII L/S select swap XXXIX Brevan Howard Total Return Swap Total Return Swap Total Return Swap Total Return Swap Counterparty DeutscheBank AG DeutscheBank AG DeutscheBank AG DeutscheBank AG Notional Amount $13,373,629 $4,651,155 $653,610 $2,072,056 Termination Date 8/2/2018 8/2/2018 8/7/2018 3/26/2018 Cash Collateral $2,086,000 $1,186,000 $29,950 $982,500 Swap Value $9,254,959 $5,190,472 $367,089 $2,111,867 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $0 $0 $0 $0 Change in Unrealized Gain/(Loss) ($84,491) ($47,375) $26,621 ($297,047) Fair Value as of 12/31/2017 $11,340,959 $6,376,472 $397,039 $3,094,367 Advance on swap appreciation ($4,926,555) ($2,500,000) ($115,000) ($1,900,000) |
Investments in Unconsolidated T
Investments in Unconsolidated Trading Companies and Private Investment Companies | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Investments in Unconsolidated Trading Companies and Private Investment Companies | 5. Investments in Unconsolidated Trading Companies and Private Investment Companies Investments in unconsolidated Trading Companies and private investment companies represent cash invested in the Trading and private investment companies as well as by each Series and cumulative trading profits or losses allocated to each Series by the Trading Companies and Private Investment Companies. Trading Companies and private investment companies allocate trading profits or losses on the basis of the proportion of each Series’ capital allocated for trading to each respective Trading Company, which bears no relationship to the amount of cash invested by a Series in the Trading Company and Private Investment Companies. The Trading Companies are valued using the equity method of accounting, which approximates fair value. Investments in private investment companies are valued using the NAV provided by the underlying private investment. The following table summarizes each of the Series’ investments in unconsolidated Trading companies as of September 30, 2018 and December 31, 2017: As of September 30, 2018 As of December 31, 2017 Percentage of Percentage of Series Net Series Net Assets Invested Assets Invested in Unconsolidated in Unconsolidated Trading and Private Trading and Private Investment Companies Fair Value Investment Companies Fair Value Series Frontier Diversified Series — Frontier Trading Companies II and XXXVIII 6.76% $ 1,146,091 10.37% $ 2,225,210 Frontier Masters Series — Frontier Trading Companies II and XXXVIII 14.28% $ 969,945 12.55% $ 1,501,142 Frontier Long/Short Commodity Series — Frontier Trading Company XXXVIII 3.32% $ 99,860 2.86% $ 121,510 Frontier Balanced Series — Frontier Trading Companies II and XXXVIII 6.13% $ 2,144,814 6.59% $ 3,178,176 Frontier Select Series — Frontier Trading Companies XXXVIII and XXXIX 13.82% $ 607,771 9.86% $ 670,863 Frontier Winton Fund Frontier Trading Companies II and XXXVIII 48.77% $ 5,010,792 53.79% $ 7,987,575 Frontier Heritage Series — Frontier Trading Companies II and XXXVIII 18.25% $ 910,059 22.66% $ 1,536,631 The following tables summarize each of the Series; equity in earnings from unconsolidated Trading and private investment companies for the three and nine months ended September 30, 2018 and 2017. Three Months Ended September 30, 2018 Three Months Ended September 2017 Change in Change in Trading Realized Unrealized Net Income Trading Realized Unrealized Net Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Frontier Balanced Fund Frontier Trading Company II, LLC $ — $ — $ 46,550 $ 46,550 $ — $ — $ 72,519 $ 72,519 Frontier Trading Company XXXVIII, LLC — — 2,568 2,568 — — (9,021 ) (9,021 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (9,291 ) (65,905 ) 96,559 21,363 (19,245 ) (56,867 ) 153,322 77,210 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (12,879 ) 39,369 (23,273 ) 3,217 (18,045 ) 41,460 2,070 25,485 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LL (68,449 ) 525,034 (732,131 ) (275,546 ) (80,645 ) 809,976 (431,386 ) 297,945 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (10,825 ) 24,104 41,083 54,362 (37,146 ) (161,057 ) 416,622 218,419 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — — (4,884 ) (4,884 ) — (63 ) (256,549 ) (256,612 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (38,176 ) (205,387 ) 29,398 (214,165 ) (52,684 ) (693,062 ) 690,348 (55,398 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (10,502 ) 37,958 (5,938 ) 21,518 (31,025 ) (185,578 ) (512 ) (217,115 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (6,575 ) (46,302 ) 6,537 (46,340 ) (7,239 ) (14,512 ) 2,826 (18,925 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (38,085 ) 46,290 67,221 75,426 (87,162 ) (408,339 ) 385,991 (109,510 ) Total $ (194,782 ) $ 355,161 $ (476,310 ) $ (315,931 ) $ (333,191 ) $ (668,042 ) $ 1,026,230 $ 24,997 Frontier Winton Fund Frontier Trading Company II, LLC $ — $ — $ 2,568 $ 2,568 Frontier Trading Company XXXVIII, LLC — — 154,297 154,297 — — (31,155 ) (31,155 ) Total $ — $ — $ 156,865 $ 156,865 $ — $ — $ (31,155 ) $ (31,155 ) Frontier Frontier Select Fund Frontier Trading Company XXXIX, LLC $ — $ — $ 3,227 $ 3,227 $ — $ — $ 53,727 $ 53,727 Frontier Trading Company XXXVIII, LLC — — (20,172 ) (20,172 ) — — (8,337 ) (8,337 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (21,700 ) 91,839 25,085 95,224 (35,396 ) 67,150 (116,095 ) (84,341 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (31,965 ) 13,930 25,712 7,677 (209,529 ) (209,529 ) Total $ (53,665 ) $ 105,769 $ 33,852 $ 85,956 $ (35,396 ) $ 67,150 $ (280,234 ) $ (248,480 ) Frontier Heritage Fund Frontier Trading Company II, LLC $ — $ — $ 19,781 $ 19,781 $ — $ — $ 46,789 $ 46,789 Frontier Trading Company XXXVIII, LLC — — 1,051 1,051 — — (9,998 ) (9,998 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (33,189 ) 14,991 22,315 4,117 $ (29,980 ) $ 51,752 $ (142,541 ) (120,769 ) Total $ (33,189 ) $ 14,991 $ 43,147 $ 24,949 $ (29,980 ) $ 51,752 $ (105,750 ) $ (83,978 ) Frontier Long/Short Commodity Fund Frontier Trading Company XXXVIII, LLC $ — $ — $ 1,511 $ 1,511 $ — $ — $ (1,334 ) $ (1,334 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (5,111 ) 10,011 (15,755 ) (10,855 ) Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (19,658 ) 84,795 (121,669 ) (56,532 ) (37,912 ) 210,831 (102,127 ) 70,792 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — — (90,105 ) (90,105 ) — (2,869 ) 5,305 2,436 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (15,062 ) 5,925 10,810 1,673 (30,671 ) (59,091 ) 52,198 (37,564 ) Total $ (34,720 ) $ 90,720 $ (199,453 ) $ (143,453 ) $ (73,694 ) $ 158,882 $ (61,713 ) $ 23,475 Frontier Diversified Fund Frontier Trading Company II, LLC $ — $ — $ 34,017 $ 34,017 $ — $ — $ 29,203 $ 29,203 Frontier Trading Company XXXVIII, LLC — — 2,127 2,127 — — 3,026 3,026 Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (4,157 ) (23,653 ) 34,404 6,594 (8,281 ) (26,711 ) 65,961 30,969 Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (5,529 ) 14,423 (32,526 ) (23,632 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (9,004 ) 22,242 (13,179 ) 59 (11,301 ) 21,985 865 11,549 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (39,614 ) 258,878 (358,841 ) (139,577 ) (41,460 ) 371,152 (187,157 ) 142,535 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (9,027 ) 10,939 20,972 22,884 (15,109 ) (55,000 ) 140,263 70,154 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — — (2,350 ) (2,350 ) — (15 ) (93,042 ) (93,057 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (20,929 ) (92,636 ) 16,282 (97,283 ) (38,315 ) (410,394 ) 402,029 (46,680 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (8,047 ) 17,990 (2,619 ) 7,324 (25,622 ) (105,994 ) (426 ) (132,042 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (7,511 ) (46,302 ) 6,537 (47,276 ) (10,292 ) (25,052 ) 26,393 (8,951 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (20,337 ) 21,164 31,504 32,331 (58,330 ) (244,662 ) 245,800 (57,192 ) Total $ (118,626 ) $ 168,622 $ (231,146 ) $ (181,150 ) $ (214,239 ) $ (460,268 ) $ 600,389 $ (74,118 ) Frontier Masters Fund Frontier Trading Company II, LLC $ — $ — $ (4,703 ) $ (4,703 ) $ — $ — $ 36,130 $ 36,130 Frontier Trading Company XXXVIII, LLC — — 3,100 3,100 — — (4,657 ) (4,657 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (11,827 ) 27,230 (47,312 ) (31,909 ) Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (51,154 ) 235,343 (326,220 ) (142,031 ) (62,543 ) 419,529 (214,880 ) 142,106 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (32,744 ) 17,636 26,253 11,145 (55,827 ) (139,604 ) 81,403 (114,028 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (17,623 ) 95,172 21,795 99,344 — — (128,372 ) (128,372 ) Total $ (101,521 ) $ 348,151 $ (279,775 ) $ (33,145 ) $ (130,197 ) $ 307,155 $ (277,688 ) $ (100,730 ) Nine Months Ended September 30, 2018 Nine Months Ended September 2017 Change in Change in Trading Realized Unrealized Net Income Trading Realized Unrealized Net Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Frontier Balanced Fund Frontier Trading Company II, LLC $ — $ — $ 114,510 $ 114,510 $ (32,747 ) $ 216,451 $ (342,327 ) $ (158,623 ) Frontier Trading Company XXXVIII, LLC — — (8,908 ) (8,908 ) — — (215,180 ) (215,180 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (53,188 ) (277,921 ) 103,487 (227,622 ) (64,009 ) (444,842 ) 139,701 (369,150 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (44,264 ) (119,199 ) (22,162 ) (185,625 ) (68,404 ) 189,463 (32,758 ) 88,301 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LL (296,953 ) 894,510 (718,674 ) (121,117 ) (450,701 ) 1,744,230 8,954 1,302,483 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (47,185 ) (114,597 ) 51,845 (109,937 ) (134,386 ) 896,859 (27,111 ) 735,362 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (123 ) — (8,469 ) (8,592 ) — (63 ) (1,015,265 ) (1,015,328 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (111,704 ) (813,565 ) 90,256 (835,013 ) (1,105,937 ) 3,100,899 394,461 2,389,423 Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (73,053 ) (34,735 ) 6,431 (101,357 ) (175,559 ) 207,540 217,419 249,400 Galaxy Plus Fund - Quest Feeder Fund (517) LLC (20,503 ) (88,994 ) 9,703 (99,794 ) (20,728 ) 643,877 (818,574 ) (195,425 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (175,522 ) (1,567,177 ) 154,073 (1,588,626 ) (217,096 ) (862,039 ) (70,599 ) (1,149,734 ) Total $ (822,495 ) $ (2,121,678 ) $ (227,908 ) $ (3,172,081 ) $ (2,269,567 ) $ 5,692,375 $ (1,761,279 ) $ 1,661,529 Frontier Winton Fund Frontier Trading Company II, LLC $ — $ — $ (183,988 ) $ (183,988 ) $ — $ — $ — $ — Frontier Trading Company XXXVIII, LLC — — 88,092 88,092 — — (334,372 ) (334,372 ) Total $ — $ — $ (95,896 ) $ (95,896 ) $ — $ — $ (334,372 ) $ (334,372 ) Frontier Frontier Select Fund Frontier Trading Company XXXIX, LLC $ — $ — $ (38,351 ) $ (38,351 ) $ — $ — $ (249,165 ) $ (249,163 ) Frontier Trading Company XXXVIII, LLC — — (15,611 ) (15,611 ) — — (70,090 ) (70,092 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (83,404 ) (433,416 ) 92,847 (423,973 ) (26,272 ) 455,907 (1,076,952 ) (647,317 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (112,056 ) (80,517 ) (182,320 ) (374,893 ) (35,396 ) 67,150 (209,529 ) (177,775 ) Total $ (195,460 ) $ (513,933 ) $ (143,435 ) $ (852,828 ) $ (61,668 ) $ 523,057 $ (1,605,736 ) $ (966,572 ) Frontier Heritage Fund Frontier Trading Company II, LLC $ — $ — $ 26,444 $ 26,444 $ (61,563 ) $ 113,582 $ (118,339 ) $ (66,320 ) Frontier Trading Company XXXVIII, LLC — — (3,644 ) (3,644 ) — — (104,610 ) (104,610 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (128,567 ) (535,418 ) 67,067 (596,918 ) $ (29,980 ) $ 51,752 $ (142,541 ) (120,769 ) Total $ (128,567 ) $ (535,418 ) $ 89,867 $ (574,118 ) $ (91,543 ) $ 165,334 $ (365,490 ) $ (291,699 ) Frontier Long/Short Commodity Fund Frontier Trading Company XXXVIII, LLC $ — $ — $ (301 ) $ (301 ) $ — $ — $ 48,430 $ 48,430 Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (49,244 ) (27,947 ) 56,870 (20,321 ) Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (75,198 ) 191,295 (164,749 ) (48,652 ) (219,046 ) 608,857 93,673 483,484 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (681 ) — (145,612 ) (146,293 ) (570,790 ) (2,869 ) 5,305 (568,354 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (59,678 ) (230,562 ) 24,115 (266,125 ) (61,797 ) (61,934 ) (105,149 ) (228,880 ) Total $ (135,557 ) $ (39,267 ) $ (286,547 ) $ (461,371 ) $ (900,877 ) $ 516,107 $ 99,129 $ (285,641 ) Frontier Diversified Fund Frontier Trading Company II, LLC $ — $ — $ 40,239 40,239 (34,961 ) 156,232 (215,541 ) (94,270 ) Frontier Trading Company XXXVIII, LLC — — 307 307 — — (217,505 ) (217,505 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (25,766 ) (94,474 ) 36,713 (83,527 ) (47,202 ) (275,640 ) 107,879 (214,963 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (57,740 ) (282,402 ) 368,874 28,732 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (28,732 ) (48,799 ) (12,067 ) (89,598 ) (48,192 ) 115,185 (20,362 ) 46,631 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (127,929 ) 449,134 (404,314 ) (83,109 ) (372,907 ) 1,308,793 157,823 1,093,709 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (28,612 ) (2,139 ) 29,425 (1,326 ) (86,543 ) 613,006 (32,023 ) 494,440 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — (62 ) 1,592 1,530 — (15 ) (379,526 ) (379,541 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (62,615 ) (428,811 ) 18,024 (473,402 ) (716,264 ) 2,120,108 (618 ) 1,403,226 Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (45,287 ) (7,954 ) 2,742 (50,499 ) (170,681 ) 290,815 121,852 241,986 Galaxy Plus Fund - Quest Feeder Fund (517) LLC (23,108 ) (89,102 ) 9,703 (102,507 ) (65,209 ) 1,793,033 (2,309,045 ) (581,221 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (92,781 ) (751,752 ) 54,921 (789,612 ) (167,731 ) (525,880 ) (78,889 ) (772,500 ) Total $ (434,830 ) $ (973,959 ) $ (222,715 ) $ (1,631,504 ) $ (1,767,430 ) $ 5,313,235 $ (2,497,081 ) $ 1,048,724 Frontier Masters Fund Frontier Trading Company II, LLC $ — $ — $ (99,255 ) (99,255 ) 25,034 91,810 (254,854 ) (138,010 ) Frontier Trading Company XV, LLC — — — — (82,918 ) 78,115 (115,394 ) (120,197 ) Frontier Trading Company XXXVIII, LLC — — 20,318 20,318 — — (108,362 ) (108,362 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — (76,396 ) 68,413 (7,983 ) (81,868 ) (54,404 ) 103,126 (33,146 ) Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (200,364 ) 498,398 (429,904 ) (131,870 ) (287,707 ) 937,794 43,617 693,704 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (132,925 ) (709,314 ) 39,893 (802,346 ) (89,695 ) (176,476 ) (192,207 ) (458,378 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (64,811 ) 7,178 (157,460 ) (215,093 ) — — (749,376 ) (749,376 ) Total $ (398,100 ) $ (280,134 ) $ (557,995 ) $ (1,236,229 ) $ (517,154 ) $ 876,839 $ (1,273,450 ) $ (913,765 ) The Series’ investments in private investment companies have certain redemption and liquidity restrictions which are described in the following table: Redemptions Redemptions Liquidity Notice Period Permitted Restrictions Frontier Diversified Fund Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - LRR Feeder Fund (522) LLC 24 hours Daily None Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Trend Following Galaxy Plus Fund - Aspect Feeder Fund (532) LLC 24 hours Daily None Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC 24 hours Daily None Galaxy Plus Fund - QIM Feeder Fund (526) LLC 24 hours Daily None Galaxy Plus Fund - Quest Feeder Fund (517) LLC 24 hours Daily None Option Trading Galaxy Plus Fund - Doherty Feeder Fund (528) LLC 24 hours Daily None Frontier Masters Fund Trend Following Galaxy Plus Fund - TT Feeder Fund (531) LLC 24 hours Weekly None Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Frontier Long/Short Commodity Fund Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - LRR Feeder Fund (522) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Frontier Balanced Fund Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC 24 hours Daily None Galaxy Plus Fund - LRR Feeder Fund (522) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Trend Following Galaxy Plus Fund - Aspect Feeder Fund (532) LLC 24 hours Daily None Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC 24 hours Daily None Galaxy Plus Fund - QIM Feeder Fund (526) LLC 24 hours Daily None Galaxy Plus Fund - Quest Feeder Fund (517) LLC 24 hours Daily None Option Trading Galaxy Plus Fund - Doherty Feeder Fund (528) LLC 24 hours Daily None Frontier Select Fund Trend Following Galaxy Plus Fund - TT Feeder Fund (531) LLC 24 hours Weekly None Frontier Heritage Fund Multi-Strategy Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Weekly None |
Equinox Frontier Fund [Member] | |
Investments in Unconsolidated Trading Companies and Private Investment Companies | 5. Investments in Private Investment Companies Investments in private investment companies represent cash and open trade equity invested in the private investment companies as well as the cumulative trading profits or losses allocated to the Trust by the Private Investment Companies. Private investment companies allocate trading profits or losses on the basis of the proportion of the Trust’s capital allocated for trading to each respective Private Investment Company, which bears no relationship to the amount of cash invested by the Trust in the Private Investment Companies. Investments in private investment companies are valued using the NAV provided by the underlying private investment. The Galaxy Plus entities are made up a feeder funds in which the Trust invests and master trading entities into which the feeder funds invest. No investment held by the Galaxy Plus master trading entity is greater than 5% of the Trust’s total capital. The following table summarizes the Trust’s equity in earnings from each of the private investment companies during the three and nine months ended September 30, 2018 and 2017: Thee Months Ended September 30, 2018 Three Months Ended September 30, 2017 Change in Change in Trading Realized Unrealized Net Income Trading Realized Unrealized Net Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC $ (13,448 ) $ (89,558 ) $ 130,963 $ 27,957 $ (27,526 ) $ (83,578 ) $ 219,283 $ 108,179 Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (22,467 ) 51,664 (95,593 ) (66,396 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (21,883 ) 61,611 (36,452 ) 3,276 (29,346 ) 63,445 2,935 37,034 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (178,875 ) 1,104,050 (1,538,861 ) (613,686 ) (222,560 ) 1,811,488 (935,550 ) 653,378 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (19,852 ) 35,043 62,055 77,246 (52,255 ) (216,057 ) 556,885 288,573 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — — (97,339 ) (97,339 ) — (2,947 ) (344,286 ) (347,233 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (59,105 ) (298,023 ) 45,680 (311,448 ) (90,999 ) (1,103,456 ) 1,092,377 (102,078 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (18,549 ) 55,948 (8,557 ) 28,842 (56,647 ) (291,572 ) (938 ) (349,157 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (14,086 ) (92,604 ) 13,074 (93,616 ) (17,531 ) (39,564 ) 29,219 (27,876 ) Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC — — (256,019 ) (256,019 ) — — (91,259 ) (91,259 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (39,323 ) 187,011 46,880 194,568 — — (244,467 ) (244,467 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (171,382 ) 119,936 183,815 132,369 (297,366 ) (732,794 ) 413,322 (616,838 ) Total $ (536,503 ) $ 1,083,414 $ (1,454,761 ) $ (907,850 ) $ (816,697 ) $ (543,371 ) $ 601,928 $ (758,140 ) Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 Change in Change in Trading Realized Unrealized Net Income Trading Realized Unrealized Net Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC $ (81,572 ) $ (372,395 ) $ 140,200 $ (313,767 ) $ (111,211 ) $ (720,482 ) $ 247,580 $ (584,113 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — (76,396 ) 68,413 (7,983 ) (188,852 ) (364,753 ) 528,870 (24,735 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (72,912 ) (167,998 ) (34,229 ) (275,139 ) (116,596 ) 304,648 (53,120 ) 134,932 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (700,233 ) 2,033,337 (1,717,641 ) (384,537 ) (1,330,361 ) 4,599,674 304,067 3,573,380 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (73,829 ) (116,736 ) 81,270 (109,295 ) (220,929 ) 1,509,865 (59,134 ) 1,229,802 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (804 ) (62 ) (152,150 ) (153,016 ) (570,790 ) (2,947 ) (1,389,486 ) (1,963,223 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (174,274 ) (1,242,377 ) 108,280 (1,308,371 ) (1,822,201 ) 5,221,007 393,843 3,792,649 Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (118,457 ) (42,689 ) 9,173 (151,973 ) (346,240 ) 498,355 339,271 491,386 Galaxy Plus Fund - Quest Feeder Fund (517) LLC (43,536 ) (175,750 ) 19,406 (199,880 ) (85,937 ) 2,436,910 (3,127,619 ) (776,646 ) Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC — — (329,083 ) (329,083 ) — — (795,707 ) (795,707 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (134,728 ) 39,795 (286,272 ) (381,205 ) (26,272 ) 455,907 (1,826,328 ) (1,396,693 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (715,002 ) (4,340,773 ) 379,408 (4,676,367 ) (601,695 ) (1,507,427 ) (798,914 ) (2,908,036 ) Total $ (2,115,347 ) $ (4,462,044 ) $ (1,713,225 ) $ (8,290,616 ) $ (5,421,084 ) $ 12,430,757 $ (6,236,677 ) $ 772,996 The Trust’s investments in private investment companies have certain redemption and liquidity restrictions which are described in the following table: Redemptions Redemptions Liquidity Notice Period Permitted Restrictions Frontier Funds Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - LRR Feeder Fund (522) LLC 24 hours Daily None Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Trend Following Galaxy Plus Fund - Aspect Feeder Fund (532) LLC 24 hours Daily None Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC 24 hours Daily None Galaxy Plus Fund - QIM Feeder Fund (526) LLC 24 hours Daily None Galaxy Plus Fund - Quest Feeder Fund (517) LLC 24 hours Daily None Galaxy Plus Fund - QuestFIT Feeder Fund (535) Segregated Portfolio 24 hours Daily None Galaxy Plus Fund - TT Feeder Fund (531) LLC 24 hours Weekly None Option Trading Galaxy Plus Fund - Doherty Feeder Fund (528) LLC 24 hours Daily None |
Transactions with Affiliates
Transactions with Affiliates | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Transactions with Affiliates | 6. Transactions with Affiliates The Managing Owner contributes funds to the Trust, with respect to the Series, in order to have a 1% interest (“Minimum Purchase Commitment”) in the aggregate capital, profits and losses of all Series and in return will receive units designated as general units in the Series in which the Managing Owner invests such funds. The general units may only be purchased by the Managing Owner and may be subject to no advisory fees or advisory fees at reduced rates. Otherwise, the general units hold the same rights as the limited units. The Managing Owner will make contributions to the Series of the Trust necessary to maintain at least a 1% interest in the aggregate capital, profits and losses of the combined Series of the Trust. Such contribution was made by the Managing Owner before trading commenced for the Trust and will be maintained throughout the existence of the Trust, and the Managing Owner will make such purchases as are necessary to effect this requirement. Additionally, the Managing Owner agreed with certain regulatory bodies to maintain a 1% interest specifically in the Frontier Balanced Fund Class 1AP and 2a Units, aggregated, and each of the Frontier Long/Short Commodity Fund, Frontier Diversified Fund and Frontier Masters Fund. The 1% interest in these specific Series is included in computing the Minimum Purchase Commitment in aggregate capital. In addition to the general units the Managing Owner receives in respect of its Minimum Purchase Commitment, the Managing Owner may purchase limited units in any Series as a Limited Owner. Principals of the Managing Owner or affiliates are allowed to own beneficial interests in the Trust, with respect to the Series, as well. All Units purchased by the Managing Owner are held for investment purposes only and not for resale. The Managing Owner may make purchases or redemptions at any time on the same terms as any Limited Owner. The Trust has and will continue to have certain relationships with the Managing Owner and its affiliates. Expenses Management Fees— The management fee as a percentage of the applicable Series’ notional assets will be greater than the percentage of the applicable Series’ net asset value to the extent that the notional assets of the Series exceeds its net asset value. The Managing Owner expects that the notional assets of each Series will generally be maintained at a level in excess of the net asset value of such Series and such excess may be substantial to the extent the Managing Owner deems necessary to achieve the desired level of volatility. Trading Fees— Incentive Fees— Service Fees— The following table summarizes fees earned by the Managing Owner for the three months and nine months ended September 30, 2018 and 2017: Three Months Ended September 30, 2018 Incentive Fees (rebate) Management Fees Service Fees Trading Fees Frontier Diversified Fund $ 10,897 $ 13,113 $ 14,432 $ 145,750 Frontier Masters Fund — 22,605 11,605 95,225 Frontier Long/Short Commodity Fund — — 334 19,318 Frontier Balanced Fund — 26,643 222,302 339,537 Frontier Select Fund — — 32,149 27,076 Frontier Winton Fund — 104,062 76,839 73,379 Frontier Heritage Fund — 22,635 29,343 33,624 Three Months Ended September 30, 2017 Incentive Fees (rebate) Management Fees Service Fees Trading Fees Frontier Diversified Fund $ — $ 13,509 $ 24,584 $ 221,452 Frontier Masters Fund — 26,862 19,585 151,229 Frontier Long/Short Commodity Fund — — 1,867 40,897 Frontier Balanced Fund — 25,760 323,572 462,275 Frontier Select Fund — — 46,479 39,673 Frontier Winton Fund — 188,835 99,725 127,661 Frontier Heritage Fund — 43,021 40,954 36,907 Nine Months Ended September 30, 2018 Incentive Fees (rebate) Management Fees Service Fees Trading Fees Frontier Diversified Fund $ 12,778 $ 37,905 $ 45,236 $ 454,513 Frontier Masters Fund — 83,816 39,503 335,271 Frontier Long/Short Commodity Fund — — 1,398 65,530 Frontier Balanced Fund 145,134 69,545 723,093 1,068,482 Frontier Select Fund — — 105,111 92,779 Frontier Winton Fund — 366,404 252,006 236,657 Frontier Heritage Fund 1,394 92,509 97,753 112,771 Nine Months Ended September 30, 2017 Incentive Fees (rebate) Management Fees Service Fees Trading Fees Frontier Diversified Fund $ (63,508 ) $ 69,251 $ 110,769 $ 1,154,233 Frontier Masters Fund — 150,767 72,519 527,813 Frontier Long/Short Commodity Fund (87,670 ) — 12,838 183,990 Frontier Balanced Fund — 102,297 1,106,847 1,625,446 Frontier Select Fund — 102,047 176,247 137,940 Frontier Winton Fund (49,790 ) 677,921 368,816 431,025 The following table summarizes fees payable to the Managing Owner as of September 30, 2018 and December 31, 2017. As of September 30, 2018 Incentive Fees Management Fees Interest Fees Service Fees Trading Fees Frontier Diversified Fund $ 10,897 $ 8,244 $ — $ 4,552 $ 47,283 Frontier Masters Fund — 7,494 — 2,625 32,173 Frontier Long/Short Commodity Fund — — 44 66 6,259 Frontier Balanced Fund — 23,019 3,591 61,951 108,152 Frontier Select Fund — — 765 7,750 8,530 Frontier Winton Fund — 34,474 15,770 20,813 23,696 Frontier Heritage Fund — 6,370 1,918 10,001 11,980 As of December 31, 2017 Incentive Fees Management Fees Interest Fees Service Fees Trading Fees Frontier Diversified Fund $ 12,847 $ 4,049 $ — $ 3,614 $ 61,188 Frontier Masters Fund — 8,949 — 3,570 49,131 Frontier Long/Short Commodity Fund — — 103 172 9,125 Frontier Balanced Fund 40,189 11,465 2,528 88,149 140,868 Frontier Select Fund — — 1,358 14,743 14,898 Frontier Winton Fund — 53,039 20,992 26,714 43,573 Frontier Heritage Fund — 13,471 2,608 11,483 15,703 With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed therefore by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk and the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months. Aggregate interest income from all sources, including U.S. Treasury Securities assets net of premiums and cash held at clearing brokers, of up to the first 2% (annualized) is paid to the Managing Owner by the Frontier Balanced Fund (Class 1 and Class 2), Frontier Long/Short Commodity Fund (Class 2 and Class 3), Frontier Winton Fund, Frontier Select Fund, and Frontier Heritage Fund. For the Frontier Diversified Fund, Frontier Long/Short Commodity Fund (Class 1a, Class 2a, Class 3a only), Frontier Masters Fund, and Frontier Balanced Fund (Class 1AP, Class 2a and Class 3a) 100% of the interest is retained by the respective Series. The following table outlines the interest paid by each Series to the Managing Owner and its ratio to average net assets for the three and nine months ended September 30, 2018 and 2017: Three Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Gross Amount Paid to Gross Amount Paid to Ratio to Average Net Ratio to Average Net the Managing Owner the Managing Owner Assets Assets Frontier Diversified Class 1 $ — $ — 0.00 % 0.00 % Frontier Diversified Class 2 — — 0.00 % 0.00 % Frontier Diversified Class 3 — — 0.00 % 0.00 % Frontier Masters Class 1 — (314 ) 0.00 % -0.01 % Frontier Masters Class 2 — (333 ) 0.00 % -0.01 % Frontier Masters Class 3 — (543 ) 0.00 % -0.01 % Frontier Long/Short Class 2 4 35 0.00 % 0.01 % Frontier Long/Short Class 3 55 289 0.00 % 0.01 % Frontier Long/Short Class 1a — — 0.00 % 0.00 % Frontier Long/Short Class 2a — — 0.00 % 0.00 % Frontier Long/Short Class 3a — — 0.00 % 0.00 % Frontier Balanced Fund Class 1 4,688 9,154 0.01 % 0.02 % Frontier Balanced Fund Class 1AP 85 123 0.02 % 0.02 % Frontier Balanced Fund Class 2 848 2,046 0.01 % 0.02 % Frontier Balanced Fund Class 2A 12 (77 ) 0.00 % -0.01 % Frontier Balanced Fund Class 3A 31 (136 ) 0.00 % -0.01 % Frontier Select Fund Class 1 228 4,708 0.00 % 0.08 % Frontier Select Fund Class 1AP 1 17 0.01 % 0.08 % Frontier Select Fund Class 2 20 686 0.00 % 0.08 % Frontier Winton Class 1 5,024 28,693 0.04 % 0.22 % Frontier Winton Class 1AP 18 74 0.05 % 0.22 % Frontier Winton Class 2 310 23,095 0.03 % 0.22 % Frontier Heritage Fund Class 1 412 7,622 0.01 % 0.14 % Frontier Heritage Fund Class 1AP — 8 0.00 % 0.15 % Frontier Heritage Fund Class 2 68 1,297 0.01 % 0.14 % Total $ 11,804 $ 76,444 Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Gross Amount Paid to Gross Amount Paid to Ratio to Average Net Ratio to Average Net the Managing Owner the Managing Owner Assets Assets Frontier Diversified Class 1 $ — $ (3,860 ) 0.00 % -0.10 % Frontier Diversified Class 2 — (19,555 ) 0.00 % -0.07 % Frontier Diversified Class 3 — (7,071 ) 0.00 % -0.06 % Frontier Masters Class 1 — (4,988 ) 0.00 % -0.12 % Frontier Masters Class 2 — (5,113 ) 0.00 % -0.11 % Frontier Masters Class 3 — (5,881 ) 0.00 % -0.09 % Frontier Long/Short Class 2 41 167 0.02 % 0.03 % Frontier Long/Short Class 3 543 1,566 0.02 % 0.04 % Frontier Long/Short Class 1a — 533 0.00 % 0.07 % Frontier Long/Short Class 2a — 233 0.00 % 0.03 % Frontier Long/Short Class 3a — 189 0.00 % 0.01 % Frontier Balanced Fund Class 1 19,340 199,538 0.06 % 0.40 % Frontier Balanced Fund Class 1AP 341 2,539 0.06 % 0.41 % Frontier Balanced Fund Class 2 3,504 54,615 0.06 % 0.31 % Frontier Balanced Fund Class 2A 51 494 0.01 % 0.09 % Frontier Balanced Fund Class 3A 139 1,316 0.01 % 0.08 % Frontier Select Fund Class 1 6,063 28,362 0.13 % 0.36 % Frontier Select Fund Class 1AP 26 84 0.13 % 0.35 % Frontier Select Fund Class 2 744 4,295 0.13 % 0.36 % Frontier Winton Class 1 67,727 40,855 0.60 % 0.25 % Frontier Winton Class 1AP 212 50 0.59 % 0.14 % Frontier Winton Class 2 7,338 17,017 0.65 % 0.15 % Frontier Heritage Fund Class 1 5,794 33,744 0.13 % 0.53 % Frontier Heritage Fund Class 1AP 5 29 0.14 % 0.52 % Frontier Heritage Fund Class 2 904 10,039 0.13 % 0.56 % Total $ 112,772 $ 349,196 |
Equinox Frontier Fund [Member] | |
Transactions with Affiliates | 6. Transactions with Affiliates The Managing Owner contributes funds to the Trust in order to have a 1% interest in the aggregate capital, profits and losses and in return will receive units designated as general units in the Series of the Trust in which the Managing Owner invests such funds. The general units may only be purchased by the Managing Owner and may be subject to no advisory fees or management advisory fees at reduced rates. Otherwise, the general units hold the same rights as the limited units. The Managing Owner is required to maintain at least a 1% interest (“Minimum Purchase Commitment”) in the aggregate capital, profits and losses of the Trust so long as it is acting as the Managing Owner of the Trust. Such contribution was made by the Managing Owner before trading commenced for the Trust and will be maintained throughout the existence of the Trust, and the Managing Owner will make such purchases as are necessary to effect this requirement. Additionally, the Managing Owner agreed with certain regulatory bodies to maintain a 1% interest specifically in the Frontier Balanced Fund Class 1AP Units and Frontier Balanced Fund Class 2a Units, aggregated, and each of the Frontier Long/Short Commodity Fund, Frontier Diversified Fund, and Frontier Masters Fund. The 1% interest in these specific Series of the Trust is included in computing the Minimum Purchase Commitment in aggregate capital. In addition to the general units the Managing Owner receives in respect of its Minimum Purchase Commitment, the Managing Owner may purchase limited units in any Series as a Limited Owner. Principals of the Managing Owner or affiliates are allowed to own beneficial interests in the Trust, as well. All units purchased by the Managing Owner are held for investment purposes only and not for resale. The Managing Owner may make purchases or redemptions at any time on the same terms as any Limited Owner. The Trust has and will continue to have certain relationships with the Managing Owner and its affiliates. Expenses Management Fees— The management fee as a percentage of the applicable Series’ notional assets will be greater than the percentage of the applicable Series’ net asset value to the extent that the notional assets of the Series exceeds its net asset value. The Managing Owner expects that the notional assets of each Series will generally be maintained at a level in excess of the net asset value of such Series and such excess may be substantial to the extent the Managing Owner deems necessary to achieve the desired level of volatility. Trading Fees— Incentive Fees— These embedded incentive fees may be higher or lower in the future. Service Fees— As of September 30, 2018, the Trust had a payable to the Managing Owner in the amounts of $10,897, $79,601, $22,088, $238,073, and $456,734 for incentive fees, management fees, interest, service fees, and trading fees, respectively. As of December 31, 2017, the Trust had a payable to the Managing Owner in the amounts of $53,036, $90,972, $26,007, $334,485 and $148,445 for incentive fees, management fees, interest, trading fees, and service fees, respectively. For the three months ended September 30, 2018 the Trust paid the Managing Owner $10,897, $189,058, $387,003 and $733,788 for incentive fees, management fees, service fees, and trading fees, respectively. For the three months ended September 30, 2017 the Trust paid the Managing Owner $0, $297,987, $556,766 and $1,080,095 for incentive fees, management fees, service fees, and trading fees, respectively. For the nine months ended September 30, 2018 the Trust paid the Managing Owner $159,306, $650,179, $1,264,101 and $2,366,003 for incentive fees, management fees, service fees, and trading fees, respectively. For the nine months ended September 30, 2017 the Trust paid the Managing Owner $(205,571), $1,263,162, $1,989,777 and $4,206,610 for incentive fees, management fees, service fees, and trading fees, respectively. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed therefore by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months. For the three months ended September 30, 2018 and 2017, amounts received or receivable from the Managing Owner for the difference in monthly service fees from the prepaid initial service fees were $0 and $0, respectively. Aggregate interest income from all sources, including U.S. Treasury Securities assets net of premiums and cash held at clearing brokers, of up to the first 2% (annualized) is paid to the Managing Owner by the Frontier Balanced Fund (Class 1 and Class 2), Frontier Long/Short Commodity Fund (Class 2 and Class 3), Frontier Winton Fund, Frontier Select Fund, and Frontier Heritage Fund. For the Frontier Diversified Fund, Frontier Long/Short Commodity Fund (Class 1a, Class 2a, Class 3a only), Frontier Masters Fund, and Frontier Balanced Fund (Class 1AP, Class 2a and Class 3a) 100% of the interest is retained by the respective Series. During the nine months ended September 30, 2018 and 2017, the Trust received $124,430 and paid $349,196, respectively, of such interest income from/to the Managing Owner. Such amounts are not included in the consolidated statements of operations of the Trust. All other interest income is recorded by the Trust on the consolidated statements of operations. |
Financial Highlights
Financial Highlights | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Financial Highlights | 7. Financial Highlights The following information presents the financial highlights of the Trust, with respect to the Series, for the three and nine months ended September 30, 2018 and 2017. Frontier Diversified Fund Frontier Masters Fund Frontier Long/Short Commodity Fund Class 1 Class 2 Class 3 Class 1 Class 2 Class 3 Class 1a Class 2 Class 2a Class 3 Class 3a Per unit operating performance (1) Net asset value, June 30, 2018 $ 108.30 $ 126.87 $ 118.09 $ 99.33 $ 116.38 $ 108.77 $ 70.78 $ 106.52 $ 82.13 $ 111.75 $ 86.11 Net operating results: Interest income 0.06 0.07 0.06 0.07 0.08 0.07 0.07 0.11 0.08 0.11 0.08 Expenses (1.83 ) (1.19 ) (1.11 ) (2.16 ) (1.91 ) (1.79 ) (1.15 ) (0.64 ) (0.48 ) (0.67 ) (0.50 ) Net gain/(loss) on investments, net of non-controlling interests (2.07 ) (2.83 ) (2.57 ) (0.02 ) (0.15 ) (0.06 ) (3.50 ) (2.44 ) (4.58 ) (2.57 ) (4.75 ) Net income/(loss) (3.84 ) (3.96 ) (3.62 ) (2.13 ) (1.99 ) (1.78 ) (4.59 ) (2.98 ) (4.98 ) (3.13 ) (5.17 ) Net asset value, September 30, 2018 $ 104.46 $ 122.91 $ 114.47 $ 97.20 $ 114.39 $ 106.99 $ 66.19 $ 103.54 $ 77.15 $ 108.62 $ 80.94 Ratios to average net assets Net investment income/(loss) -6.52 % -3.45 % -3.45 % -8.57 % -6.38 % -6.38 % -6.44 % -2.04 % -2.04 % -2.04 % -2.04 % Expenses before incentive fees (3)(4) 6.67 % 3.60 % 3.60 % 8.83 % 6.65 % 6.65 % 6.84 % 2.45 % 2.45 % 2.45 % 2.45 % Expenses after incentive fees (3)(4) 6.73 % 3.66 % 3.66 % 8.83 % 6.65 % 6.65 % 6.84 % 2.45 % 2.45 % 2.45 % 2.45 % Total return before incentive fees (2) -3.48 % -3.06 % -3.00 % -2.14 % -1.71 % -1.64 % -6.48 % -2.80 % -6.06 % -2.80 % -6.00 % Total return after incentive fees (2) -3.55 % -3.12 % -3.07 % -2.14 % -1.71 % -1.64 % -6.48 % -2.80 % -6.06 % -2.80 % -6.00 % Frontier Balanced Fund Frontier Select Fund Class 1 Class 1AP Class 2 Class 2a Class 3a Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, June 30, 2018 $ 125.21 $ 140.68 $ 189.72 $ 164.33 $ 163.77 $ 74.75 $ 84.07 $ 111.56 Net operating results: Interest income 0.02 0.03 0.03 0.03 0.03 0.00 0.00 0.00 Expenses (2.14 ) (1.38 ) (1.86 ) (1.61 ) (1.60 ) (1.01 ) (0.50 ) (0.67 ) Net gain/(loss) on investments, net of non-controlling interests (3.30 ) (3.70 ) (5.00 ) (4.26 ) (4.26 ) 1.67 1.88 2.51 Net income/(loss) (5.40 ) (5.05 ) (6.82 ) (5.85 ) (5.83 ) 0.66 1.38 1.84 Net asset value, September 30, 2018 $ 119.81 $ 135.63 $ 182.90 $ 158.48 $ 157.94 $ 75.41 $ 85.45 $ 113.40 Ratios to average net assets Net investment income/(loss) -6.89 % -3.89 % -3.89 % -3.89 % -3.89 % -5.36 % -2.36 % -2.36 % Expenses before incentive fees (3)(4) 7.01 % 4.01 % 4.01 % 4.01 % 4.01 % 5.36 % 2.36 % 2.36 % Expenses after incentive fees (3)(4) 7.01 % 4.01 % 4.01 % 4.01 % 4.01 % 5.36 % 2.36 % 2.36 % Total return before incentive fees (2) -4.31 % -3.59 % -3.59 % -3.56 % -3.56 % 0.88 % 1.64 % 1.65 % Total return after incentive fees (2) -4.31 % -3.59 % -3.59 % -3.56 % -3.56 % 0.88 % 1.64 % 1.65 % Frontier Winton Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, June 30, 2018 $ 148.66 $ 167.19 $ 203.47 $ 102.68 $ 115.46 $ 154.54 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (3.55 ) (2.74 ) (3.63 ) (2.04 ) (1.43 ) (1.91 ) Net gain/(loss) on investments, net of non-controlling interests 0.91 1.06 6.36 0.46 0.55 0.68 Net income/(loss) (2.64 ) (1.68 ) 2.73 (1.58 ) (0.88 ) (1.23 ) Net asset value, September 30, 2018 $ 146.02 $ 165.51 $ 206.20 $ 101.10 $ 114.58 $ 153.31 Ratios to average net assets Net investment income/(loss) -9.49 % -6.49 % -6.49 % -7.93 % -4.93 % -4.93 % Expenses before incentive fees (3)(4) 9.49 % 6.49 % 6.49 % 7.93 % 4.93 % 4.93 % Expenses after incentive fees (3)(4) 9.49 % 6.49 % 6.49 % 7.93 % 4.93 % 4.93 % Total return before incentive fees (2) -1.78 % -1.00 % 1.34 % -1.54 % -0.76 % -0.80 % Total return after incentive fees (2) -1.78 % -1.00 % 1.34 % -1.54 % -0.76 % -0.80 % (1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. (2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized. (3) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6. (4) Expense ratios do not include mangement and incentive fees at the Galaxy Plus entities. The ratios would have been higher had those expenses been included. The impact of those fees are included in the total return. Frontier Diversified Fund Frontier Masters Fund Frontier Long/Short Commodity Fund Class 1 Class 2 Class 3 Class 1 Class 2 Class 3 Class 1a Class 2 Class 2a Class 3 Class 3a Per unit operating performance (1) Net asset value, December 31, 2017 $ 116.41 $ 135.19 $ 125.68 $ 114.74 $ 133.27 $ 124.40 $ 81.35 $ 115.81 $ 93.59 $ 121.50 $ 97.99 Net operating results: Interest income 0.16 0.19 0.17 0.25 0.30 0.28 0.23 0.33 0.26 0.34 0.27 Expenses (3.19 ) (3.72 ) (3.47 ) (5.44 ) (6.43 ) (5.97 ) (1.43 ) (2.06 ) (1.62 ) (2.15 ) (1.70 ) Net gain/(loss) on investments, net of non-controlling interests (8.91 ) (8.74 ) (7.92 ) (12.35 ) (12.75 ) (11.72 ) (13.96 ) (10.54 ) (15.08 ) (11.08 ) (15.62 ) Net income/(loss) (11.95 ) (12.28 ) (11.21 ) (17.54 ) (18.88 ) (17.41 ) (15.16 ) (12.27 ) (16.44 ) (12.88 ) (17.05 ) Net asset value, September 30, 2018 $ 104.46 $ 122.91 $ 114.47 $ 97.20 $ 114.39 $ 106.99 $ 66.19 $ 103.54 $ 77.15 $ 108.62 $ 80.94 Ratios to average net assets Net investment income/(loss) -3.73 % -3.73 % -3.73 % -6.92 % -6.92 % -6.92 % -2.08 % -2.08 % -2.08 % -2.08 % -2.08 % Expenses before incentive fees (3)(4) 3.86 % 3.86 % 3.86 % 7.26 % 7.26 % 7.26 % 2.47 % 2.47 % 2.47 % 2.47 % 2.47 % Expenses after incentive fees (3)(4) 3.93 % 3.93 % 3.93 % 7.26 % 7.26 % 7.26 % 2.47 % 2.47 % 2.47 % 2.47 % 2.47 % Total return before incentive fees (2) -10.20 % -9.01 % -8.85 % -15.29 % -14.17 % -14.00 % -18.64 % -10.59 % -17.57 % -10.60 % -17.40 % Total return after incentive fees (2) -10.27 % -9.08 % -8.92 % -15.29 % -14.17 % -14.00 % -18.64 % -10.59 % -17.57 % -10.60 % -17.40 % Frontier Balanced Fund Frontier Select Fund Class 1 Class 1AP Class 2 Class 2a Class 3a Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, December 31, 2017 $ 135.96 $ 150.56 $ 202.90 $ 175.77 $ 175.18 $ 90.27 $ 100.02 $ 132.73 Net operating results: Interest income 0.10 0.11 0.15 0.13 0.13 0.00 0.00 0.00 Expenses (6.82 ) (4.49 ) (6.06 ) (5.26 ) (5.24 ) (3.15 ) (1.56 ) (2.10 ) Net gain/(loss) on investments, net of non-controlling interests (9.44 ) (10.55 ) (14.09 ) (12.16 ) (12.13 ) (11.71 ) (13.01 ) (17.22 ) Net income/(loss) (16.15 ) (14.93 ) (20.00 ) (17.29 ) (17.24 ) (14.86 ) (14.57 ) (19.32 ) Net asset value, September 30, 2018 $ 119.81 $ 135.63 $ 182.90 $ 158.48 $ 157.94 $ 75.41 $ 85.45 $ 113.41 Ratios to average net assets Net investment income/(loss) -7.05 % -4.05 % -4.05 % -4.05 % -4.05 % -5.37 % -2.37 % -2.37 % Expenses before incentive fees (3)(4) 6.81 % 3.81 % 3.81 % 3.81 % 3.81 % 5.37 % 2.37 % 2.37 % Expenses after incentive fees (3)(4) 7.17 % 4.17 % 4.17 % 4.17 % 4.17 % 5.37 % 2.37 % 2.37 % Total return before incentive fees (2) -11.52 % -9.55 % -9.50 % -9.48 % -9.48 % -16.46 % -14.57 % -14.56 % Total return after incentive fees (2) -11.88 % -9.92 % -9.86 % -9.84 % -9.84 % -16.46 % -14.57 % -14.56 % Frontier Winton Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, December 31, 2017 $ 159.08 $ 176.44 $ 216.50 $ 121.19 $ 134.28 $ 179.70 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (10.70 ) (8.20 ) (10.43 ) (6.79 ) (5.00 ) (6.56 ) Net gain/(loss) on investments, net of non-controlling interests (2.36 ) (2.73 ) 0.13 (13.31 ) (14.70 ) (19.83 ) Net income/(loss) (13.06 ) (10.93 ) (10.30 ) (20.10 ) (19.70 ) (26.39 ) Net asset value, September 30, 2018 $ 146.02 $ 165.51 $ 206.20 $ 101.09 $ 114.58 $ 153.31 Ratios to average net assets Net investment income/(loss) -9.52 % -6.52 % -6.52 % -8.46 % -5.47 % -5.47 % Expenses before incentive fees (3)(4) 9.52 % 6.52 % 6.52 % 8.44 % 5.44 % 5.44 % Expenses after incentive fees (3)(4) 9.52 % 6.52 % 6.52 % 8.46 % 5.47 % 5.47 % Total return before incentive fees (2) -8.21 % -6.19 % -4.76 % -16.56 % -14.64 % -14.66 % Total return after incentive fees (2) -8.21 % -6.19 % -4.76 % -16.59 % -14.67 % -14.69 % (1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. (2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized. (3) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6. (4) Expense ratios do not include mangement and incentive fees at the Galaxy Plus entities. The ratios would have been higher had those expenses been included. The impact of those fees are included in the total return. Frontier Diversified Fund Frontier Masters Fund Frontier Long/Short Commodity Fund Class 1 Class 2 Class 3 Class 1 Class 2 Class 3 Class 1a Class 2 Class 2a Class 3 Class 3a Per unit operating performance (1) Net asset value, June 30, 2017 $ 111.73 $ 128.62 $ 119.42 $ 102.39 $ 117.90 $ 109.90 $ 83.63 $ 116.35 $ 95.39 $ 122.06 $ 99.76 Net operating results: Interest income 0.01 0.01 0.01 0.11 0.12 0.11 0.00 0.00 0.00 0.00 0.00 Expenses (1.86 ) (1.22 ) (1.13 ) (2.03 ) (1.65 ) (1.54 ) (1.16 ) (0.87 ) (0.72 ) (0.91 ) (0.75 ) Net gain/(loss) on investments, net of non-controlling interests 0.22 (0.11 ) (0.03 ) (1.06 ) (1.42 ) (1.24 ) 0.79 0.84 0.69 0.89 0.78 Net income/(loss) (1.63 ) (1.32 ) (1.15 ) (2.98 ) (2.95 ) (2.67 ) (0.37 ) (0.03 ) (0.03 ) (0.02 ) 0.03 Net asset value, September 30, 2017 $ 110.10 $ 127.30 $ 118.27 $ 99.41 $ 114.95 $ 107.23 $ 83.26 $ 116.32 $ 95.36 $ 122.04 $ 99.79 Ratios to average net assets (3) Net investment income/(loss) -6.50 % -3.69 % -3.69 % -7.26 % -4.99 % -4.99 % -5.31 % -2.87 % -2.87 % -2.87 % -2.87 % Expenses before incentive fees (rebate) (4)(5) 6.52 % 3.72 % 3.72 % 7.66 % 5.39 % 5.39 % 5.31 % 2.87 % 2.87 % 2.87 % 2.87 % Expenses after incentive fees (rebate) (4)(5) 6.52 % 3.72 % 3.72 % 7.66 % 5.39 % 5.39 % 5.31 % 2.87 % 2.87 % 2.87 % 2.87 % Total return before incentive fees (rebate) (2) -1.46 % -1.03 % -0.96 % -2.91 % -2.50 % -2.43 % -0.44 % -0.03 % -0.03 % -0.02 % 0.03 % Total return after incentive fees (rebate) (2) -1.46 % -1.03 % -0.96 % -2.91 % -2.50 % -2.43 % -0.44 % -0.03 % -0.03 % -0.02 % 0.03 % Frontier Balanced Fund Frontier Select Fund Class 1 Class 1AP Class 2 Class 2a Class 3a Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, June 30, 2017 $ 129.84 $ 141.71 $ 190.62 $ 165.77 $ 165.22 $ 78.79 $ 85.90 $ 114.11 Net operating results: Interest income 0.02 0.02 0.03 0.03 0.03 0.00 0.00 0.00 Expenses (2.20 ) (1.32 ) (1.77 ) (1.54 ) (1.54 ) (1.07 ) (0.50 ) (0.66 ) Net gain/(loss) on investments, net of non-controlling interests 0.54 0.57 0.76 0.72 0.71 (3.26 ) (3.52 ) (4.79 ) Net income/(loss) (1.64 ) (0.73 ) (0.98 ) (0.79 ) (0.80 ) (4.33 ) (4.02 ) (5.45 ) Net asset value, September 30, 2017 $ 128.20 $ 140.98 $ 189.64 $ 164.98 $ 164.42 $ 74.46 $ 81.88 $ 108.66 Ratios to average net assets (3) Net investment income/(loss) -6.57 % -3.57 % -3.57 % -3.57 % -3.57 % -5.24 % -2.24 % -2.24 % Expenses before incentive fees (rebate) (4)(5) 6.63 % 3.63 % 3.63 % 3.63 % 3.63 % 5.24 % 2.24 % 2.24 % Expenses after incentive fees (rebate) (4)(5) 6.63 % 3.63 % 3.63 % 3.63 % 3.63 % 5.24 % 2.24 % 2.24 % Total return before incentive fees (rebate) (2) -1.26 % -0.52 % -0.51 % -0.48 % -0.48 % -5.50 % -4.68 % -4.78 % Total return after incentive fees (rebate) (2) -1.26 % -0.52 % -0.51 % -0.48 % -0.48 % -5.50 % -4.68 % -4.78 % Frontier Winton Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, June 30, 2017 $ 144.09 $ 157.26 $ 199.66 $ 108.98 $ 118.94 $ 159.18 Net operating results: Interest income 0.12 0.13 0.17 0.00 0.00 0.00 Expenses (3.18 ) (2.28 ) (2.90 ) (2.23 ) (1.53 ) (2.05 ) Net gain/(loss) on investments, net of non-controlling interests 1.27 1.39 1.77 (0.76 ) (0.86 ) (1.16 ) Net income/(loss) (1.79 ) (0.76 ) (0.96 ) (2.99 ) (2.39 ) (3.21 ) Net asset value, September 30, 2017 $ 142.30 $ 156.50 $ 198.70 $ 105.99 $ 116.55 $ 155.97 Ratios to average net assets (3) Net investment income/(loss) -8.38 % -5.38 % -5.38 % -8.02 % -5.02 % -5.02 % Expenses before incentive fees (rebate) (4)(5) 8.71 % 5.71 % 5.71 % 8.02 % 5.02 % 5.02 % Expenses after incentive fees (rebate) (4)(5) 8.71 % 5.71 % 5.71 % 8.02 % 5.02 % 5.02 % Total return before incentive fees (rebate) (2) -1.24 % -0.48 % -0.48 % -2.74 % -2.01 % -2.02 % Total return after incentive fees (rebate) (2) -1.24 % -0.48 % -0.48 % -2.74 % -2.01 % -2.02 % (1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. (2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized. (3) Annualized with the exception of incentive fees. (4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, refer to Note 6 of the Financial Statements. (5) Expense ratios do not include management and incentive fees at the Galaxy Plus entities. The ratios would have been higher had those expenses been included. The impact of those fees are included in the total return. Frontier Diversified Fund Frontier Masters Fund Frontier Long/Short Commodity Fund Class 1 Class 2 Class 3 Class 1 Class 2 Class 3 Class 1a Class 2 Class 2a Class 3 Class 3a Per unit operating performance (1) Net asset value, December 31, 2016 $ 116.43 $ 132.94 $ 123.27 $ 112.80 $ 128.78 $ 119.89 $ 92.78 $ 129.56 $ 105.67 $ 130.80 $ 107.50 Net operating results: Interest income 0.27 0.30 0.28 0.53 0.61 0.56 0.01 0.00 0.00 0.00 0.00 Expenses (6.36 ) (3.56 ) (3.28 ) (6.82 ) (5.69 ) (5.27 ) (3.15 ) (2.19 ) (1.79 ) (2.22 ) (1.82 ) Net gain/(loss) on investments, net of non-controlling interests (0.24 ) (2.38 ) (2.00 ) (7.10 ) (8.75 ) (7.95 ) (6.38 ) (11.05 ) (8.52 ) (6.54 ) (5.89 ) Net income/(loss) (6.33 ) (5.64 ) (5.00 ) (13.39 ) (13.83 ) (12.66 ) (9.52 ) (13.24 ) (10.31 ) (8.76 ) (7.71 ) Net asset value, September 30, 2017 $ 110.10 $ 127.30 $ 118.27 $ 99.41 $ 114.95 $ 107.23 $ 83.26 $ 116.32 $ 95.36 $ 122.04 $ 99.79 Ratios to average net assets (3) Net investment income/(loss) -7.02 % -3.26 % -3.26 % -7.59 % -5.33 % -5.33 % -4.92 % -2.70 % -2.70 % -2.70 % -2.70 % Expenses before incentive fees (rebate) (4)(5) 7.46 % 3.70 % 3.70 % 8.23 % 5.97 % 5.97 % 6.17 % 3.95 % 3.95 % 3.95 % 3.95 % Expenses after incentive fees (rebate) (4)(5) 7.32 % 3.56 % 3.56 % 8.23 % 5.97 % 5.97 % 4.92 % 2.70 % 2.70 % 2.70 % 2.70 % Total return before incentive fees (rebate) (2) -5.58 % -4.39 % -4.20 % -11.87 % -10.74 % -10.56 % -11.52 % -11.47 % -11.01 % -7.95 % -8.43 % Total return after incentive fees (rebate) (2) -5.44 % -4.24 % -4.05 % -11.87 % -10.74 % -10.56 % -10.26 % -10.22 % -9.76 % -6.70 % -7.17 % Frontier Balanced Fund Frontier Select Fund Class 1 Class 1AP Class 2 Class 2a Class 3a Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, December 31, 2016 $ 134.80 $ 144.97 $ 194.99 $ 169.05 $ 168.49 $ 94.06 $ 101.16 $ 134.25 Net operating results: Interest income 0.02 0.02 0.03 0.02 0.02 0.00 0.00 0.00 Expenses (6.75 ) (4.06 ) (5.49 ) (4.75 ) (4.73 ) (4.24 ) (2.49 ) (3.32 ) Net gain/(loss) on investments, net of non-controlling interests 0.13 0.05 0.11 0.66 0.64 (15.36 ) (16.79 ) (22.27 ) Net income/(loss) (6.60 ) (3.99 ) (5.35 ) (4.07 ) (4.07 ) (19.60 ) (19.28 ) (25.59 ) Net asset value, September 30, 2017 $ 128.20 $ 140.98 $ 189.64 $ 164.98 $ 164.42 $ 74.46 $ 81.88 $ 108.66 Ratios to average net assets (3) Net investment income/(loss) -6.66 % -3.68 % -3.68 % -3.68 % -3.68 % -6.51 % -3.54 % -3.54 % Expenses before incentive fees (rebate) (4)(5) 6.68 % 3.70 % 3.70 % 3.70 % 3.70 % 6.51 % 3.54 % 3.54 % Expenses after incentive fees (rebate) (4)(5) 6.68 % 3.70 % 3.70 % 3.70 % 3.70 % 6.51 % 3.54 % 3.54 % Total return before incentive fees (rebate) (2) -4.90 % -2.75 % -2.74 % -2.41 % -2.42 % -20.84 % -19.06 % -19.06 % Total return after incentive fees (rebate) (2) -4.90 % -2.75 % -2.74 % -2.41 % -2.42 % -20.84 % -19.06 % -19.06 % Frontier Winton Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, December 31, 2016 $ 154.51 $ 166.17 $ 210.98 $ 119.58 $ 128.60 $ 172.10 Net operating results: Interest income 0.11 0.12 0.15 0.00 0.00 0.00 Expenses (9.63 ) (6.83 ) (8.66 ) (6.81 ) (4.62 ) (6.24 ) Net gain/(loss) on investments, net of non-controlling interests (2.69 ) (2.96 ) (3.77 ) (6.78 ) (7.43 ) (9.89 ) Net income/(loss) (12.21 ) (9.67 ) (12.28 ) (13.59 ) (12.05 ) (16.13 ) Net asset value, September 30, 2017 $ 142.30 $ 156.50 $ 198.70 $ 105.99 $ 116.55 $ 155.97 Ratios to average net assets (3) Net investment income/(loss) -8.55 % -5.58 % -5.58 % -7.98 % -5.01 % -5.01 % Expenses before incentive fees (rebate) (4)(5) 8.83 % 5.85 % 5.85 % 8.04 % 5.06 % 5.06 % Expenses after incentive fees (rebate) (4)(5) 8.65 % 5.67 % 5.67 % 7.98 % 5.01 % 5.01 % Total return before incentive fees (rebate) (2) -8.08 % -6.00 % -6.00 % -11.42 % -9.43 % -9.43 % Total return after incentive fees (rebate) (2) -7.90 % -5.82 % -5.82 % -11.36 % -9.37 % -9.37 % (1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. (2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized. (3) Annualized with the exception of incentive fees. (4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, refer to Note 6 of the Financial Statements. (5) Expense ratios do not include management and incentive fees at the Galaxy Plus entities. The ratios would have been higher had those expenses been included. The impact of those fees are included in the total return. |
Equinox Frontier Fund [Member] | |
Financial Highlights | 7. Financial Highlights The following information presents the financial highlights of the Trust for the three and nine months ended September 30, 2018 and 2017. This data has been derived from the information presented in the consolidated financial statements. Three months ended 2018 2017 Ratios to average net assets (1) Net investment gain/(loss) (1) -6.10 % -5.76 % Expenses before incentive fees (3) 6.37 % 5.89 % Expenses after incentive fees (3) 6.38 % 5.89 % Total return before incentive fees (2) -3.17 % -1.18 % Total return after incentive fees (2) -3.18 % -1.18 % Nine months ended 2018 2017 Ratios to average net assets (1) Net investment gain/(loss) (1) -6.07 % -5.73 % Expenses before incentive fees (3) 6.15 % 6.01 % Expenses after incentive fees (3) 6.32 % 5.89 % Total return before incentive fees (2) -13.04 % -4.92 % Total return after incentive fees (2) -13.20 % -4.80 % (1) Annualized with the exception of incentive fees. (2) Total returns are not annualized. (3) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Consolidated Statements of Operations of the Trust. See footnote 5. The Trust financial highlights are calculated based upon the Trust’s consolidated financial statements. The consolidated Trust does not issue units and therefore the financial highlights do not disclose any unitized data. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Derivative Instruments and Hedging Activities | 8. Derivative Instruments and Hedging Activities The Series’ primary business is to engage in speculative trading of a diversified portfolio of futures, forwards (including interbank foreign Currencies), options contracts and other derivative instruments (including swap contracts). The Series do not enter into or hold positions for hedging purposes as defined under ASC 815, Derivatives and Hedging The following tables summarize the monthly averages of forwards, options and futures contracts bought and sold for each respective Series of the Trust: For the Three Months Ended September 30, 2018 Monthly average contracts Bought Sold Frontier Balanced Fund 231 231 For the Three Months Ended September 30, 2017 Monthly average contracts Bought Sold Frontier Balanced Fund 567 459 Frontier Winton Fund 1,849 1,477 For the Nine Months Ended September 30, 2018 Monthly average contracts Bought Sold Frontier Balanced Fund 1,753 1,749 For the Nine Months Ended September 30, 2017 Monthly average contracts Bought Sold Frontier Balanced Fund 1,195 1,121 Frontier Select Fund 4,690 4,675 Frontier Winton Fund 2,168 1,978 The following tables summarize the trading revenues for the three and nine months ended September 30, 2018 and 2017 by sector: Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2018 Frontier Balanced Type of contract Fund Metals $ 122,534 Currencies 8,349 Energies (18,352 ) Agriculturals (26,065 ) Interest rates (64,465 ) Stock indices (8,877 ) Realized trading income/(loss) (1) $ 13,124 Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2017 Frontier Balanced Frontier Winton Type of contract Fund Fund Metals $ (35,090 ) $ (380,449 ) Currencies 418,961 274,057 Energies (37,022 ) (434,257 ) Agriculturals (255,648 ) (307,146 ) Interest rates 26,520 (125,819 ) Stock indices (35,713 ) 697,405 Realized trading income/(loss) (1) $ 82,008 $ (276,209 ) (1) Amounts recorded in the Statements of Operations under Net realized gain/(loss) on futures, forwards, and options Unrealized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2018 Frontier Balanced Type of contract Fund Metals $ (10,838 ) Currencies (83,636 ) Energies 6,294 Agriculturals 38,061 Interest rates (24,837 ) Stock indices 11,426 Change in unrealized trading income/(loss)(1) $ (63,530 ) Unrealized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2017 Frontier Balanced Frontier Winton Type of contract Fund Fund Metals $ 41,418 $ (5,368 ) Currencies (257,141 ) (221,054 ) Energies 8,412 204,615 Agriculturals 59,883 204,560 Interest rates 31,989 (179,186 ) Stock indices 31,400 771,765 Change in unrealized trading income/(loss) (1) $ (84,039 ) $ 775,332 (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) Realized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2018 Frontier Balanced Type of contract Fund Metals $ 16,990 Currencies (190,681 ) Energies 42,905 Agriculturals 24,718 Interest rates (161,677 ) Stock indices (2,467 ) Realized trading income/(loss) (1) $ (270,212 ) Realized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2017 Frontier Balanced Frontier Select Frontier Winton Type of contract Fund Fund Fund Metals $ (112,630 ) $ (145,043 ) $ (1,442,763 ) Currencies 238,745 (126,402 ) (1,244,155 ) Energies (868 ) (516,253 ) (1,721,544 ) Agriculturals (509,639 ) 27,824 399,406 Interest rates (425,751 ) (768,438 ) (1,296,976 ) Stock indices 240,982 832,876 6,359,249 Realized trading income/(loss) (1) $ (569,161 ) $ (695,436 ) $ 1,053,217 (1) Amounts recorded in the Statements of Operations under Net realized gain/(loss) on futures, forwards, and options Unrealized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2018 Frontier Balanced Type of contract Fund Metals $ 12,286 Currencies (185,045 ) Energies (45,174 ) Agriculturals (5,025 ) Interest rates 87,216 Stock indices (5,450 ) Change in unrealized trading income/(loss) (1) $ (141,192 ) Unrealized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2017 Frontier Balanced Frontier Select Frontier Winton Type of contract Fund Fund Fund Metals $ (110,251 ) $ (51,351 ) $ 10,108 Currencies (258,229 ) (370,286 ) (843,998 ) Energies 11,735 (146,125 ) 28,571 Agriculturals (96,789 ) 108,409 (92,870 ) Interest rates 38,801 (296,328 ) (827,879 ) Stock indices 11,496 609,833 95,619 Change in unrealized trading income/(loss) (1) $ (403,237 ) $ (145,848 ) $ (1,630,449 ) (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) Certain financial instruments and derivative instruments are eligible for offset in the statements of financial condition under GAAP. The Series’ open trade equity/(deficit), options written, and receivables from futures commissions merchants (each, an “FCM”) are subject to master netting arrangements and collateral arrangements and meet the GAAP guidance to qualify for offset. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or bankruptcy. The Series’ policy is to recognize amounts subject to master netting arrangements on a net basis on the statements of financial condition. The following tables present gross and net information about the Series’ assets and liabilities subject to master netting arrangements as disclosed on the statements of financial condition as of September 30, 2018 and December 31, 2017. As of September 30, 2018 Net Amounts Gross Amounts Presented in the Gross Amounts of offset in the Statements of recognized Statements of Financial Derivative Assets Financial Condition Frontier Balanced Fund Open Trade Equity/(Deficit) $ 580,714 $ (604,158 ) $ (23,444 ) Swap Contracts 9,850,185 — 9,850,185 Frontier Diversified Fund Swap Contracts $ 5,575,997 $ — $ 5,575,997 Frontier Long/Short Commodity Fund Swap Contracts $ 471,942 $ — $ 471,942 Frontier Heritage Fund Swap Contracts $ 3,010,288 $ — $ 3,010,288 As of December 31, 2017 Net Amounts Gross Amounts Presented in the Gross Amounts offset in the Statements of of recognized Statements of Financial Derivative Assets Financial Condition Condition Frontier Balanced Fund Open Trade Equity/(Deficit) $ 343,222 $ (164,670 ) $ 178,552 Swap Contracts 11,340,959 — 11,340,959 Frontier Diversified Fund Swap Contracts $ 6,376,472 $ — $ 6,376,472 Frontier Long/Short Commodity Fund Swap Contracts $ 397,039 $ — $ 397,039 Frontier Heritage Fund Swap Contracts $ 3,094,367 $ — $ 3,094,367 |
Equinox Frontier Fund [Member] | |
Derivative Instruments and Hedging Activities | 8. Derivative Instruments and Hedging Activities The Trust’s primary business is to engage in speculative trading of a diversified portfolio of futures, forwards (including interbank foreign currencies), options contracts and other derivative instruments (including swap contracts). The Trust does not enter into or hold positions for hedging purposes as defined under ASC 815. The detail of the fair value of the Trust’s derivatives by instrument types as of September 30, 2018 and December 31, 2017 is included in the Consolidated Condensed Schedules of Investments. See Note 4 for further disclosure related to the Trust’s positions in swap contracts. For the three months ended September 30, 2018 and September 30, 2017, the monthly average of forwards, options and futures contracts bought was approximately 764 and 2,416, respectively and sold was approximately 544 and 1,936, respectively. For the nine months ended September 30, 2018 and September 30, 2017, the monthly average of forwards, options and futures contracts bought was approximately 2,819 and 8,053, respectively and sold was approximately 2,375 and 7,774, respectively. The following tables summarize the trading revenues for the three and nine months ended September 30, 2018 and 2017 by sector: Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2018 Type of contract Metals $ 234,519 Currencies 520,493 Energies (25,579 ) Agriculturals 198,513 Interest rates (298,384 ) Stock indices 546,293 Realized trading income/(loss) (1) $ 1,175,855 Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2017 Type of contract Metals $ (415,539 ) Currencies 693,018 Energies (471,279 ) Agriculturals (562,795 ) Interest rates (99,299 ) Stock indices 661,692 Realized trading income/(loss)(1) $ (194,202 ) (1) Amounts recorded in the Statements of Operations under Net realized gain/(loss) on futures, forwards, and options Unrealized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2018 Type of contract Metals $ (235,504 ) Currencies (538,221 ) Energies 60,010 Agriculturals (160,030 ) Interest rates 84,141 Stock indices 76,487 Change in unrealized trading income/(loss)(1) $ (713,117 ) Unrealized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2017 Type of contract Metals $ 36,050 Currencies (478,195 ) Energies 213,027 Agriculturals 264,443 Interest rates (147,197 ) Stock indices 803,166 Change in unrealized trading income/(loss) (1) $ 691,294 (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) Realized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2018 Type of contract Metals $ 1,012,647 Currencies (985,268 ) Energies 1,048,526 Agriculturals 287,301 Interest rates 1,723 Stock indices (227,965 ) Realized trading income/(loss) (1) $ 1,136,964 Realized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2017 Type of contract Metals $ (1,700,436 ) Currencies (1,131,814 ) Energies (2,238,664 ) Agriculturals (82,409 ) Interest rates (2,491,165 ) Stock indices 7,433,107 Realized trading income/(loss)(1) $ (211,381 ) (1) Amounts recorded in the Statements of Operations under Net realized gain/(loss) on futures, forwards, and options Unrealized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2018 Type of contract Metals $ (474,681 ) Currencies (425,578 ) Energies (313,242 ) Agriculturals 65,596 Interest rates (30,149 ) Stock indices (49,303 ) Change in unrealized trading income/(loss)(1) $ (1,227,357 ) Unrealized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2017 Type of contract Metals $ (151,493 ) Currencies (1,472,515 ) Energies (105,818 ) Agriculturals (81,250 ) Interest rates (1,085,406 ) Stock indices 716,949 Change in unrealized trading income/(loss) (1) $ (2,179,533 ) (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) Certain financial instruments and derivative instruments are eligible for offset in the statements of financial condition under GAAP. The Trust’s open trade equity/(deficit), options written, and receivables from futures commission merchants (each, an “FCM”) are subject to master netting arrangements and collateral arrangements and meet the GAAP guidance to qualify for offset. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or bankruptcy. The Trust’s policy is to recognize amounts subject to master netting arrangements on a net basis on the consolidated statements of financial condition. The following tables present gross and net information about the Trust’s assets and liabilities subject the master netting arrangements as disclosed on the consolidated statements of financial condition as of September 30, 2018 and December 31, 2017: As of September 30, 2018 Net Amounts Gross Amounts Presented in the Gross Amounts of offset in the Statements of recognized Statements of Financial Derivative Assets Financial Condition Open Trade Equity/(Deficit) $ 1,593,779 $ (1,247,053 ) $ 346,726 Swap Contracts 18,908,412 — 18,908,412 As of December 31, 2017 Net Amounts Gross Amounts Presented in the offset in the Consolidated Gross Amounts Consolidated Statements of of recognized Statements of Financial Derivative Assets Financial Condition Condition Open Trade Equity/(Deficit) $ 2,758,014 $ (1,189,600 ) $ 1,568,414 Swap Contracts 21,208,838 — 21,208,838 |
Trading Activities and Related
Trading Activities and Related Risks | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Trading Activities and Related Risks | 9. Trading Activities and Related Risks The purchase and sale of futures and options on futures contracts require margin deposits with FCMs. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act, as amended (the “Commodity Exchange Act”) requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other property (for example, U.S. treasury bills) deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited. The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the statements of financial condition, may result in future obligation or loss in excess of the amount paid by the Series for a particular investment. Each Trading Company expects to trade in futures, options, forward and swap contracts and will therefore be a party to financial instruments with elements of off-balance sheet market and credit risk. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by market conditions, such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures positions held by a Trading Company in respect of any Series at the same time, and if the Trading Advisor(s) of such Trading Company are unable to offset such futures interests positions, such Trading Company could lose all of its assets and the holders of Units of such Series would realize a 100% loss. The Managing Owner will seek to minimize market risk through real-time monitoring of open positions and the level of diversification of each Trading Advisor’s portfolio. It is anticipated that any Trading Advisor’s margin-to-equity ratio will typically not exceed approximately 35% although the actual ratio could be higher or lower from time to time. In addition to market risk, trading futures, forward and swap contracts entails credit risk that a counterparty will not be able to meet its obligations to a Trading Company. The counterparty for futures contracts traded in the United States and on most foreign exchanges is the clearinghouse associated with such exchange. In general, clearinghouses are backed by the corporate members of the clearinghouse who are required to share any financial burden resulting from the non-performance by one of their members and, as such, should significantly reduce this credit risk. In cases where the clearinghouse is not backed by the clearing members, like some foreign exchanges, it is normally backed by a consortium of banks or other financial institutions. Some non-U.S. exchanges, in contrast to U.S. exchanges, are principals’ markets in which performance is the responsibility only of the individual counterparty with whom the Trading Company has entered into the transaction, and not of the exchange or clearing corporation. In these kinds of markets, there is risk of bankruptcy or other failure or refusal to perform by the counterparty. In the case of forward contracts traded on the interbank market and swaps, neither is traded on exchanges. The counterparty is generally a single bank or other financial institution, rather than a group of financial institutions; thus there may be a greater counterparty credit risk. The Managing Owner expects the Trading Advisors to trade only with those counterparties which it believes to be creditworthy. All positions of each Trading Company will be valued each day on a mark-to-market basis. There can be no assurance that any clearing member, clearinghouse or other counterparty will be able to meet its obligations to any Trading Company. The Managing Owner has established procedures to actively monitor and minimize market and credit risks. The Limited Owners bear the risk of loss only to the extent of the market value of their respective investments and, in certain specific circumstances, distributions and redemptions received. |
Equinox Frontier Fund [Member] | |
Trading Activities and Related Risks | 9. Trading Activities and Related Risks The purchase and sale of futures and options on futures contracts require margin deposits with FCMs. Additional deposits may be necessary for any loss on contract value. The CEA requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other property (for example, U.S. treasury bills) deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited. The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the statements of financial condition, may result in future obligation or loss in excess of the amount paid by the Series for a particular investment. Each Trading Company and Galaxy Plus entity expects to trade in futures, options, forward and swap contracts and will therefore be a party to financial instruments with elements of off-balance sheet market and credit risk. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by market conditions, such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures positions held by a Trading Company or Galaxy Plus entity in respect of any Series at the same time, and if the Trading Advisor(s) of such Trading Company or Galaxy Plus entity are unable to offset such futures interests positions, such Trading Company or Galaxy Plus entity could lose all of its assets and the holders of Units of such Series would realize a 100% loss. The Managing Owner will seek to minimize market risk through real-time monitoring of open positions and the level of diversification of each Trading Advisor’s portfolio. It is anticipated that any Trading Advisor’s margin-to-equity ratio will typically not exceed approximately 35% although the actual ratio could be higher or lower from time to time. In addition to market risk, trading futures, forward and swap contracts entails credit risk that a counterparty will not be able to meet its obligations to a Trading Company or Galaxy Plus entity. The counterparty for futures contracts traded in the United States and on most foreign exchanges is the clearinghouse associated with such exchange. In general, clearinghouses are backed by the corporate members of the clearinghouse who are required to share any financial burden resulting from the non-performance by one of their members and, as such, should significantly reduce this credit risk. In cases where the clearinghouse is not backed by the clearing members, like some foreign exchanges, it is normally backed by a consortium of banks or other financial institutions. Some non-U.S. exchanges, in contrast to U.S. exchanges, are principals’ markets in which performance is the responsibility only of the individual counterparty with whom the Trading Company has entered into the transaction, and not of the exchange or clearing corporation. In these kinds of markets, there is risk of bankruptcy or other failure or refusal to perform by the counterparty. In the case of forward contracts traded on the interbank market and swaps, neither is traded on exchanges. The counterparty is generally a single bank or other financial institution, rather than a group of financial institutions; thus, there may be a greater counterparty credit risk. The Managing Owner expects the Trading Advisors to trade only with those counterparties which it believes to be creditworthy. All positions of each Trading Company will be valued each day on a mark-to-market basis. There can be no assurance that any clearing member, clearinghouse or other counterparty will be able to meet its obligations to any Trading Company. The Managing Owner has established procedures to actively monitor and minimize market and credit risks. The Limited Owners bear the risk of loss only to the extent of the market value of their respective investments and, in certain specific circumstances, distributions and redemptions received. |
Indemnifications and Guarantees
Indemnifications and Guarantees | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Indemnifications and Guarantees | 10. Indemnifications and Guarantees noted in Management Discussion and Analysis The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence or bad faith. The Trust has had no prior claims or payments pursuant to these agreements. The Trust’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. However, based on experience the Trust expects the risk of loss to be remote. Maximum exposure is unfulfilled obligations of the Series up to the amount of equity at risk with Morgan Stanley & Co. LLC of the referenced Series as allocated from the Trading Company. The Series have not recorded any liability for the guarantees in the accompanying financial statements as it expects any possibility of losses to be remote. The Series have not recorded any liability for the indemnifications in the accompanying financial statement, as it expects any possibility of losses to be remote. |
Equinox Frontier Fund [Member] | |
Indemnifications and Guarantees | 10. Indemnifications and Guarantees The Trust has entered into agreements, which provide for the indemnification of futures clearing brokers, and commodity trading advisers, among others, against losses, costs, claims and liabilities arising from the performance of their individual obligations under such agreements, except for gross negligence, bad faith or willful misconduct. The Trust has had no prior claims or payments pursuant to these agreements. The Trust’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. However, based on experience the Trust expects the risk of loss to be remote. Maximum exposure is unfulfilled obligations of the Trust up to the amount of equity at risk with Morgan Stanley & Co. LLC. The Trust has not recorded any liability for the guarantees in the accompanying financial statements as it expects any possibility of losses to be remote. The Trust has not recorded any liability for the indemnifications in the accompanying financial statements as it expects any possibility of losses to be remote. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Subsequent Events | 11. Subsequent Events From October 1, 2018 through November 19, 2018, Frontier Balanced Fund, Frontier Diversified Fund, Frontier Heritage Fund, Frontier Long/Short Commodity Fund, Frontier Masters Fund, Frontier Select Fund, and Frontier Winton Fund paid $1,602,003, $234,295, $181,043, $211,739, $435,911 $192,279 and $215,916, respectively, in redemptions. |
Equinox Frontier Fund [Member] | |
Subsequent Events | 11. Subsequent Events From October 1, 2018 through November 19, 2018, the Trust paid $3,073,186 in redemptions. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Basis of Presentation | Basis of Presentation |
Consolidation | Consolidation Galaxy Plus entities are co-mingled investment vehicles. In addition to the Trust, there are other non-affiliated investors in Galaxy Plus. Subscriptions and redemptions by these non-affiliated investors will have a direct impact on the Trust ownership percentage in Galaxy Plus. It is expected that ownership percentage will fluctuate (sometimes significantly) on a week by week basis which could also result in frequent changes in the consolidating Series. Such fluctuations make consolidating the financial statements of the Galaxy Plus entities both impractical and misleading. Non-consolidation of these Galaxy Plus entities presents a more useful financial statement for the readers. As such, management has decided that presenting Galaxy Plus entities on a non-consolidated basis as investments in other investments companies (a “fund of funds” approach) is appropriate and preferable to the users of these financial statements. Refer to Note 5 for additional disclosures related to these private investment companies. |
Use of Estimates | Use of Estimates— |
Cash and Cash Equivalents | Cash and Cash Equivalents— |
Interest Income | Interest Income— Aggregate interest income from all sources, including U.S. Treasury Securities assets net of premiums and cash held at clearing brokers, of up to the first 2% (annualized) is paid to the Managing Owner by the Frontier Balanced Fund (Class 1 and Class 2), Frontier Winton Fund, Frontier Select Fund, and Frontier Heritage Fund. For the Frontier Diversified Fund, Frontier Long/Short Commodity Fund (Class 1a, Class 2a, Class 3a only), Frontier Masters Fund, and Frontier Balanced Fund (Class 1AP, Class 2a and Class 3a) 100% of the interest is retained by the respective Series. All interest not paid to the Managing Owner is interest income to the Series, and shown net on the statement of operations. |
U.S. Treasury Securities | U.S. Treasury Securities— Fair Value Measurements and Disclosures (“ |
Receivable from Futures Commission Merchants | Receivable from Futures Commission Merchants— |
Investment Transactions | Investment Transactions— Balance Sheet (“ASC 210” Balance Sheet (Topic 210 Any change in net unrealized gain or loss from the preceding period is reported in the consolidated statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest was recognized in the period earned and the instruments were marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the consolidated statements of operations. |
Purchase and Sales of Private Investment Companies | Purchase and Sales of Private Investment Companies |
Foreign Currency Transactions | Foreign Currency Transactions— |
Allocation of Earnings | Allocation of Earnings— Each Series allocates funds to an affiliated Trading Company, or Companies, of the Trust, or unaffiliated Galaxy Plus entity. Each Trading Company allocates all of its daily trading gains or losses to the Series in proportion to each Series’ ownership trading level interest in the Trading Company, adjusted on a daily basis (except for Trading Advisors and other investments such as swaps that are directly allocated to a specific Series). Likewise, trading gains and losses earned and incurred by the Series through their investments in Galaxy Plus entities are allocated to those Series on a daily basis. The allocation of gains and losses in Galaxy Plus entities are based on each Series pro-rata shares of the trading level of that entity which is updated at the beginning of each month or more frequently if there is a subscription or redemption activity in the entity. The value of all open contracts and cash held at clearing brokers is similarly allocated to the Series in proportion to each Series’ funds allocated to the Trading Companies or Galaxy Plus entities. |
Investments and Swaps | Investments and Swaps— |
Income Taxes | Income Taxes Income Taxes In the opinion of the Managing Owner, (i) the Trust, with respect to the Series, is treated as a partnership for federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, (ii) the Trust is not a publicly traded partnership treated as a corporation, and (iii) the discussion set forth in the Prospectus under the heading “U.S. Federal Income Tax Consequences” correctly summarizes the material federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Units of the Trust. |
Fees and Expenses | Fees and Expenses— |
Incentive Fee (rebate) | Incentive Fee (rebate)— |
Service Fees | Service Fees These service fees are part of the offering costs of the Trust, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months. |
Pending Owner Additions | Pending Owner Additions— |
Owner redemptions payable | Owner redemptions payable— |
Subsequent Events | Subsequent Events— |
Equinox Frontier Fund [Member] | |
Basis of Presentation | Basis of Presentation |
Consolidation | Consolidation Galaxy Plus entities are co-mingled investment vehicles. In addition to the Trust, there are other non-affiliated investors in Galaxy Plus. Subscriptions and redemptions by these non-affiliated investors will have a direct impact on the Trust ownership percentage in Galaxy Plus. It is expected that ownership percentage will fluctuate (sometimes significantly) on a week by week basis which could also result in frequent changes in the consolidating Series. Such fluctuations make consolidating the financial statements of the Galaxy Plus entities both impractical and misleading. Non-consolidation of these Galaxy Plus entities presents a more useful financial statement for the readers. As such, management has decided that presenting Galaxy Plus entities on a non-consolidated basis as investments in other investments companies (a “fund of funds” approach) is appropriate and preferable to the users of these financial statements. Refer to Note 5 for additional disclosures related to these private investment companies. |
Use of Estimates | Use of Estimates— |
Cash and Cash Equivalents | Cash and Cash Equivalents— |
Interest Income | Interest Income— |
U.S. Treasury Securities | U.S. Treasury Securities— Fair Value Measurements and Disclosures (“ |
Receivable from Futures Commission Merchants | Receivable from Futures Commission Merchants— |
Investment Transactions | Investment Transactions— Balance Sheet (“ASC 210” Balance Sheet (Topic 210 Any change in net unrealized gain or loss from the preceding period is reported in the consolidated statements of operations. Fair value of exchange-traded contracts is based upon exchange settlement prices. Fair value of non-exchange-traded contracts is based on third party quoted dealer values on the interbank market. For U.S. Treasury securities, interest was recognized in the period earned and the instruments were marked-to-market daily based on third party information. Transaction costs are recognized as incurred and reflected separately in the consolidated statements of operations. |
Purchase and Sales of Private Investment Companies | Purchase and Sales of Private Investment Companies |
Foreign Currency Transactions | Foreign Currency Transactions— |
Allocation of Earnings | Allocation of Earnings— Each Series allocates funds to an affiliated Trading Company, or Companies, of the Trust, or unaffiliated Galaxy Plus entity. Each Trading Company allocates all of its daily trading gains or losses to the Series in proportion to each Series’ ownership trading level interest in the Trading Company, adjusted on a daily basis (except for Trading Advisors and other investments such as swaps that are directly allocated to a specific series). Likewise, trading gains and losses earned and incurred by the Series through their investments in Galaxy Plus entities are allocated to those Series on a daily basis. The allocation of gains and losses in Galaxy Plus entities are based on each Series pro-rata shares of the trading level of that entity which is updated at the beginning of each month or more frequently if there is a subscription or redemption activity in the entity. The value of all open contracts and cash held at clearing brokers is similarly allocated to the Series in proportion to each Series’ funds allocated to the Trading Companies or Galaxy Plus entities. |
Investments and Swaps | Investments and Swaps— |
Income Taxes | Income Taxes Income Taxes In the opinion of the Managing Owner, (i) the Trust is treated as a partnership for Federal income tax purposes and, assuming that at least 90% of the gross income of the Trust constitutes “qualifying income” within the meaning of Section 7704(d) of the Code, (ii) the Trust is not a publicly traded partnership treated as a corporation, and (iii) the discussion set forth in the Prospectus under the heading “U.S. Federal Income Tax Consequences” correctly summarizes the material Federal income tax consequences as of the date of the Prospectus to potential U.S. Limited Owners of the purchase, ownership and disposition of Series Units of the Trust. |
Fees and Expenses | Fees and Expenses— |
Incentive Fee (rebate) | Incentive Fee (rebate)— |
Service Fees | Service Fees These service fees are part of the offering costs of the Trust, which include registration and filing fees, legal and blue sky expenses, accounting and audit, printing, marketing support and other offering costs which are borne by the Managing Owner. With respect to the service fees, the initial service fee (for the first 12 months) relating to a purchase of Class 1 and Class 1a Units by an investor is prepaid by the Managing Owner to the relevant selling agent in the month following such purchase and is reimbursed for such payment by the Series monthly in arrears in an amount based upon a corresponding percentage of NAV, calculated daily. Consequently, the Managing Owner bears the risk of the downside and enjoys the benefit of the upside potential of any difference between the amount of the initial service fee prepaid by it and the amount of the reimbursement thereof, which may result from variations in NAV over the following 12 months. Pending Owner Additions |
Pending Owner Additions | Pending Owner Additions— |
Owner redemptions payable | Owner redemptions payable— |
Subsequent Events | Subsequent Events Subsequent Events |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Financial Asset Portfolio, by Series, Measured at Fair Value on Recurring Basis | Level 1 Level 2 Level 3 Total September 30, 2018 Inputs Inputs Inputs Fair Value Frontier Diversified Fund Investment in Unconsolidated Trading Companies $ 1,169,987 $ (23,896 ) $ — $ 1,146,091 Swap Contracts — — 5,575,997 5,575,997 U.S. Treasury Securities 938,408 — — 938,408 Frontier Masters Fund Investment in Unconsolidated Trading Companies 991,679 (21,734 ) — 969,945 U.S. Treasury Securities 512,411 — — 512,411 Frontier Long/Short Commodity Fund Investment in Unconsolidated Trading Companies 99,860 — — 99,860 Swap Contracts — — 471,942 471,942 U.S. Treasury Securities 475,024 — — 475,024 Frontier Balanced Fund Investment in Unconsolidated Trading Companies 2,190,822 (46,008 ) — 2,144,814 Open Trade Equity (Deficit) (23,444 ) — — (23,444 ) Swap Contracts — — 9,850,185 9,850,185 U.S. Treasury Securities 1,515,106 — — 1,515,106 Frontier Select Fund Investment in Unconsolidated Trading Companies 69,462 — 538,309 607,771 U.S. Treasury Securities 330,422 — — 330,422 Frontier Winton Fund Investment in Unconsolidated Trading Companies 5,110,724 (99,932 ) — 5,010,792 U.S. Treasury Securities 4,968,843 — — 4,968,843 Frontier Heritage Fund Investment in Unconsolidated Trading Companies 928,475 (18,416 ) — 910,059 Swap Contracts — — 3,010,288 3,010,288 U.S. Treasury Securities 851,399 — — 851,399 Total December 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Fair Value Frontier Diversified Fund Investment in Unconsolidated Trading Companies $ 2,152,721 $ 55,593 $ — $ 2,208,314 Swap Contracts — — 6,376,472 6,376,472 U.S. Treasury Securities 767,049 — — 767,049 Frontier Masters Fund Investment in Unconsolidated Trading Companies 1,460,743 31,450 — 1,492,193 U.S. Treasury Securities 1,663,014 — — 1,663,014 Frontier Long/Short Commodity Fund Investment in Unconsolidated Trading Companies 121,510 — — 121,510 Swap Contracts — — 397,039 397,039 U.S. Treasury Securities 614,803 — — 614,803 Frontier Balanced Fund Investment in Unconsolidated Trading Companies 3,072,933 81,725 — 3,154,658 Open Trade Equity (Deficit) 144,983 33,569 — 178,552 Swap Contracts — — 11,340,959 11,340,959 U.S. Treasury Securities 663,808 — — 663,808 Frontier Select Fund Investment in Unconsolidated Trading Companies 91,790 — 579,073 670,863 U.S. Treasury Securities 464,427 — — 464,427 Frontier Winton Fund Investment in Unconsolidated Trading Companies 7,750,343 184,193 — 7,934,536 U.S. Treasury Securities 5,667,825 — — 5,667,825 Frontier Heritage Fund Investment in Unconsolidated Trading Companies 1,500,688 35,943 — 1,536,631 Swap Contracts — — 3,094,367 3,094,367 U.S. Treasury Securities 1,046,861 — — 1,046,861 |
Change in Level 3 Assets Measured at Fair Value on Recurring Basis | For the Nine Months Ended September 30, 2018 Swaps Frontier Long/Short Frontier Balanced Fund Commodity Fund Balance of recurring Level 3 assets as of January 1, 2018 $ 11,340,959 $ 397,039 Total gains or losses (realized/unrealized): Included in earnings-realized — — Included in earnings-unrealized 509,226 74,903 Proceeds from collateral reduction (2,000,000 ) — Change in ownership allocation — — Transfers in and/or out of Level 3 — — Balance of recurring Level 3 assets as of September 30, 2018 $ 9,850,185 $ 471,942 Frontier Diversified Fund Frontier Heritage Fund Balance of recurring Level 3 assets as of January 1, 2018 $ 6,376,472 $ 3,094,367 Total gains or losses (realized/unrealized): Included in earnings-realized — — Included in earnings-unrealized 299,525 (84,079 ) Proceeds from collateral reduction (1,100,000 ) — Change in ownership allocation — — Transfers in and/or out of Level 3 — — Balance of recurring Level 3 assets as of September 30, 2018 $ 5,575,997 $ 3,010,288 For the Year Ended December 31, 2017 Swaps Frontier Long/Short Frontier Balanced Fund Commodity Fund Balance of recurring Level 3 assets as of January 1, 2017 $ 18,939,450 $ 4,220,468 Total gains or losses (realized/unrealized): Included in earnings-realized — — Included in earnings-unrealized (84,491 ) 26,621 Proceeds from collateral reduction (7,514,000 ) (3,850,050 ) Change in ownership allocation — — Transfers in and/or out of Level 3 — — Balance of recurring Level 3 assets as of December 31, 2017 $ 11,340,959 $ 397,039 Frontier Diversified Fund Frontier Heritage Fund Balance of recurring Level 3 assets as of January 1, 2017 $ 8,637,847 $ 8,391,414 Total gains or losses (realized/unrealized): Included in earnings-realized — — Included in earnings-unrealized (47,375 ) (297,047 ) Proceeds from collateral reduction (2,214,000 ) (5,000,000 ) Change in ownership allocation — — Transfers in and/or out of Level 3 — — Balance of recurring Level 3 assets as of December 31, 2017 $ 6,376,472 $ 3,094,367 For the Nine Months Ended September 30, 2018 Investments in Unconsolidated Trading Companies: Frontier Select Fund Balance of recurring Level 3 assets as of January 1, 2018 $ 579,074 Change in fair value of investments in unconsolidated trading companies (40,765 ) Purchases of investments of unconsolidated trading companies — Change in ownership allocation — Transfers in and/or out of Level 3 — Balance of recurring Level 3 assets as of September 30, 2018 $ 538,309 Investments in Unconsolidated Trading Companies: Frontier Select Fund Balance of recurring Level 3 assets as of January 1, 2017 $ 3,147,279 Change in fair value of investments in unconsolidated trading companies (144,019 ) Change in ownership allocation (2,424,187 ) Transfers in and/or out of Level 3 — Balance of recurring Level 3 assets as of December 31, 2017 $ 579,073 |
Change in Unrealized Appreciation (Depreciation) included in Statements of Operations Attributable to Level 3 Investments | The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at September 30, 2018: Frontier Diversified Frontier Long/Short Frontier Balanced Fund Commodity Fund Fund Frontier Heritage Fund Swap Contracts $ 299,525 $ 74,903 $ 509,226 $ (84,079 ) Frontier Select Fund Investments in Unconsolidated Trading Companies $ (40,765 ) The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2017: Frontier Long/Short Frontier Balanced Frontier Heritage Frontier Diversified Fund Commodity Fund Fund Fund Swap Contracts $ (47,375 ) $ 26,621 $ (84,491 ) $ (297,047 ) Frontier Select Fund Investments in Unconsolidated Trading Companies $ (144,019 ) |
Equinox Frontier Fund [Member] | |
Financial Asset Portfolio, by Series, Measured at Fair Value on Recurring Basis | The following table summarizes the instruments that comprise the Trust financial asset portfolio, by Series, measured at fair value on a recurring basis as of September 30, 2018 and December 31, 2017 segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value. September 30, 2018 Level 1 Inputs Level 2 Inputs Level 3 Inputs Fair Value Open Trade Equity (Deficit) $ 645,197 $ (298,471 ) $ — $ 346,726 Swap Contracts — — 18,908,412 18,908,412 U.S. Treasury Securities 9,591,613 — — 9,591,613 Total December 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Fair Value Open Trade Equity (Deficit) $ 1,145,940 $ 422,474 $ — $ 1,568,414 Swap Contracts — — 21,208,838 21,208,838 U.S. Treasury Securities 10,887,786 — — 10,887,786 |
Change in Level 3 Assets Measured at Fair Value on Recurring Basis | The changes in Level 3 assets measured at fair value on a recurring basis are summarized in the following tables. Swap contract asset gains and losses (realized/unrealized) included in earnings are classified in “realized and unrealized gain (loss) on investments – net unrealized gain/(loss) on swap contracts” on the statements of operations. Swaps For the Nine months ended June 30, 2018 Balance of recurring Level 3 assets as of January 1, 2018 21,208,838 Total gains or losses (realized/unrealized): Included in earnings-realized — Included in earnings-unrealized 799,575 Proceeds from collateral reduction (3,100,000 ) Purchase of investments — Sale of investments — Transfers in and/or out of Level 3 — Balance of recurring Level 3 assets as of September 30, 2018 18,908,412 For the Year ended December 31, 2017 Balance of recurring Level 3 assets as of January 1, 2017 $ 40,189,178 Total gains or losses (realized/unrealized): Included in earnings-realized — Included in earnings-unrealized (402,290 ) Proceeds from collateral reduction (18,578,050 ) Purchase of investments — Sale of investments — Transfers in and/or out of Level 3 — Balance of recurring Level 3 assets as of December 31, 2017 $ 21,208,838 |
Change in Unrealized Appreciation (Depreciation) included in Statements of Operations Attributable to Level 3 Investments | The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at September 30, 2018: Swap contracts $ 799,575 The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2017: Swap contracts $ (402,290) |
Swap Contracts (Tables)
Swap Contracts (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Trust, with Respect to Series, has Invested in Following Swap | The Series have invested in the following swaps as of and for the nine months ended September 30, 2018: Frontier Long/Short Frontier Heritage Frontier Balanced Fund Frontier Diversified Fund Commodity Fund Fund Total Return Swap Total Return Swap Total Return Swap Total Return Swap Counterparty DeutscheBank AG DeutscheBank AG DeutscheBank AG DeutscheBank AG Notional Amount $11,375,292 $3,054,369 $653,610 $2,072,056 Termination Date 3/31/2023 3/31/2023 3/31/2023 3/27/2023 Cash Collateral $86,000 $86,000 $29,950 $978,950 Swap Value $9,764,185 $5,489,997 $441,992 $2,031,338 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $0 $0 $0 $0 Change in Unrealized Gain/(Loss) $509,226 $299,525 $74,903 ($84,079) Fair Value as of September 30, 2018 $9,850,185 $5,575,997 $471,942 $3,010,288 Advance on swap appreciation ($4,926,555) ($2,500,000) ($115,000) ($1,900,000) The Series have invested in the following swaps as of and for the year ended December 31, 2017: Frontier Long/Short Commodity Frontier Balanced Fund Frontier Diversified Fund Fund Frontier Heritage Fund Total Return Swap Total Return Swap Total Return Swap Total Return Swap Counterparty DeutscheBank AG DeutscheBank AG DeutscheBank AG DeutscheBank AG Notional Amount $13,373,629 $4,651,155 $653,610 $2,072,056 Termination Date 8/2/2018 8/2/2018 8/7/2018 3/26/2018 Cash Collateral $2,086,000 $1,186,000 $29,950 $982,500 Swap Value $9,254,959 $5,190,472 $367,089 $2,111,867 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $0 $0 $0 $0 Change in Unrealized Gain/(Loss) ($84,491) ($47,375) $26,621 ($297,047) Fair Value as of 12/31/2017 $11,340,959 $6,376,472 $397,039 $3,094,367 Advance on swap appreciation ($4,926,555) ($2,500,000) ($115,000) ($1,900,000) |
Equinox Frontier Fund [Member] | |
Trust, with Respect to Series, has Invested in Following Swap | The Trust had invested in the following swap contracts as of and for the nine months ended September 30, 2018: XXXIV Balanced select swap XXXV Diversified select swap XXXVII L/S select swap Brevan Howard Total Return Swap Total Return Swap Total Return Swap Total Return Swap Counterparty DeutscheBank AG DeutscheBank AG DeutscheBank AG DeutscheBank AG Notional Amount $11,735,292 $3,054,369 $653,610 $2,072,056 Termination Date 3/31/2023 3/31/2023 3/31/2023 3/27/2023 Cash Collateral $86,000 $86,000 $29,950 $978,950 Swap Value $9,764,185 $5,489,997 $441,992 $2,031,338 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $0 $0 $0 $0 Change in Unrealized Gain/(Loss) $509,226 $299,525 $74,903 ($84,079) Fair Value as of September 30, 2018 $9,850,185 $5,575,997 $471,942 $3,010,288 Advance on swap appreciation ($4,926,555) ($2,500,000) ($115,000) ($1,900,000) The Trust had invested in the following swap contracts as of and for the year ended December 31, 2017: XXXIV Balanced select swap XXXV Diversified select swap XXXVII L/S select swap XXXIX Brevan Howard Total Return Swap Total Return Swap Total Return Swap Total Return Swap Counterparty DeutscheBank AG DeutscheBank AG DeutscheBank AG DeutscheBank AG Notional Amount $13,373,629 $4,651,155 $653,610 $2,072,056 Termination Date 8/2/2018 8/2/2018 8/7/2018 3/26/2018 Cash Collateral $2,086,000 $1,186,000 $29,950 $982,500 Swap Value $9,254,959 $5,190,472 $367,089 $2,111,867 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $0 $0 $0 $0 Change in Unrealized Gain/(Loss) ($84,491) ($47,375) $26,621 ($297,047) Fair Value as of 12/31/2017 $11,340,959 $6,376,472 $397,039 $3,094,367 Advance on swap appreciation ($4,926,555) ($2,500,000) ($115,000) ($1,900,000) |
Investments in Unconsolidated_2
Investments in Unconsolidated Trading Companies and Private Investment Companies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Investments in Unconsolidated Trading Companies | The following table summarizes each of the Series’ investments in unconsolidated Trading companies as of September 30, 2018 and December 31, 2017: As of September 30, 2018 As of December 31, 2017 Percentage of Percentage of Series Net Series Net Assets Invested Assets Invested in Unconsolidated in Unconsolidated Trading and Private Trading and Private Investment Companies Fair Value Investment Companies Fair Value Series Frontier Diversified Series — Frontier Trading Companies II and XXXVIII 6.76% $ 1,146,091 10.37% $ 2,225,210 Frontier Masters Series — Frontier Trading Companies II and XXXVIII 14.28% $ 969,945 12.55% $ 1,501,142 Frontier Long/Short Commodity Series — Frontier Trading Company XXXVIII 3.32% $ 99,860 2.86% $ 121,510 Frontier Balanced Series — Frontier Trading Companies II and XXXVIII 6.13% $ 2,144,814 6.59% $ 3,178,176 Frontier Select Series — Frontier Trading Companies XXXVIII and XXXIX 13.82% $ 607,771 9.86% $ 670,863 Frontier Winton Fund Frontier Trading Companies II and XXXVIII 48.77% $ 5,010,792 53.79% $ 7,987,575 Frontier Heritage Series — Frontier Trading Companies II and XXXVIII 18.25% $ 910,059 22.66% $ 1,536,631 |
Equity in Earnings from Unconsolidated Trading Companies | The following tables summarize each of the Series; equity in earnings from unconsolidated Trading and private investment companies for the three and nine months ended September 30, 2018 and 2017. Three Months Ended September 30, 2018 Three Months Ended September 2017 Change in Change in Trading Realized Unrealized Net Income Trading Realized Unrealized Net Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Frontier Balanced Fund Frontier Trading Company II, LLC $ — $ — $ 46,550 $ 46,550 $ — $ — $ 72,519 $ 72,519 Frontier Trading Company XXXVIII, LLC — — 2,568 2,568 — — (9,021 ) (9,021 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (9,291 ) (65,905 ) 96,559 21,363 (19,245 ) (56,867 ) 153,322 77,210 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (12,879 ) 39,369 (23,273 ) 3,217 (18,045 ) 41,460 2,070 25,485 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LL (68,449 ) 525,034 (732,131 ) (275,546 ) (80,645 ) 809,976 (431,386 ) 297,945 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (10,825 ) 24,104 41,083 54,362 (37,146 ) (161,057 ) 416,622 218,419 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — — (4,884 ) (4,884 ) — (63 ) (256,549 ) (256,612 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (38,176 ) (205,387 ) 29,398 (214,165 ) (52,684 ) (693,062 ) 690,348 (55,398 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (10,502 ) 37,958 (5,938 ) 21,518 (31,025 ) (185,578 ) (512 ) (217,115 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (6,575 ) (46,302 ) 6,537 (46,340 ) (7,239 ) (14,512 ) 2,826 (18,925 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (38,085 ) 46,290 67,221 75,426 (87,162 ) (408,339 ) 385,991 (109,510 ) Total $ (194,782 ) $ 355,161 $ (476,310 ) $ (315,931 ) $ (333,191 ) $ (668,042 ) $ 1,026,230 $ 24,997 Frontier Winton Fund Frontier Trading Company II, LLC $ — $ — $ 2,568 $ 2,568 Frontier Trading Company XXXVIII, LLC — — 154,297 154,297 — — (31,155 ) (31,155 ) Total $ — $ — $ 156,865 $ 156,865 $ — $ — $ (31,155 ) $ (31,155 ) Frontier Frontier Select Fund Frontier Trading Company XXXIX, LLC $ — $ — $ 3,227 $ 3,227 $ — $ — $ 53,727 $ 53,727 Frontier Trading Company XXXVIII, LLC — — (20,172 ) (20,172 ) — — (8,337 ) (8,337 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (21,700 ) 91,839 25,085 95,224 (35,396 ) 67,150 (116,095 ) (84,341 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (31,965 ) 13,930 25,712 7,677 (209,529 ) (209,529 ) Total $ (53,665 ) $ 105,769 $ 33,852 $ 85,956 $ (35,396 ) $ 67,150 $ (280,234 ) $ (248,480 ) Frontier Heritage Fund Frontier Trading Company II, LLC $ — $ — $ 19,781 $ 19,781 $ — $ — $ 46,789 $ 46,789 Frontier Trading Company XXXVIII, LLC — — 1,051 1,051 — — (9,998 ) (9,998 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (33,189 ) 14,991 22,315 4,117 $ (29,980 ) $ 51,752 $ (142,541 ) (120,769 ) Total $ (33,189 ) $ 14,991 $ 43,147 $ 24,949 $ (29,980 ) $ 51,752 $ (105,750 ) $ (83,978 ) Frontier Long/Short Commodity Fund Frontier Trading Company XXXVIII, LLC $ — $ — $ 1,511 $ 1,511 $ — $ — $ (1,334 ) $ (1,334 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (5,111 ) 10,011 (15,755 ) (10,855 ) Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (19,658 ) 84,795 (121,669 ) (56,532 ) (37,912 ) 210,831 (102,127 ) 70,792 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — — (90,105 ) (90,105 ) — (2,869 ) 5,305 2,436 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (15,062 ) 5,925 10,810 1,673 (30,671 ) (59,091 ) 52,198 (37,564 ) Total $ (34,720 ) $ 90,720 $ (199,453 ) $ (143,453 ) $ (73,694 ) $ 158,882 $ (61,713 ) $ 23,475 Frontier Diversified Fund Frontier Trading Company II, LLC $ — $ — $ 34,017 $ 34,017 $ — $ — $ 29,203 $ 29,203 Frontier Trading Company XXXVIII, LLC — — 2,127 2,127 — — 3,026 3,026 Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (4,157 ) (23,653 ) 34,404 6,594 (8,281 ) (26,711 ) 65,961 30,969 Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (5,529 ) 14,423 (32,526 ) (23,632 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (9,004 ) 22,242 (13,179 ) 59 (11,301 ) 21,985 865 11,549 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (39,614 ) 258,878 (358,841 ) (139,577 ) (41,460 ) 371,152 (187,157 ) 142,535 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (9,027 ) 10,939 20,972 22,884 (15,109 ) (55,000 ) 140,263 70,154 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — — (2,350 ) (2,350 ) — (15 ) (93,042 ) (93,057 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (20,929 ) (92,636 ) 16,282 (97,283 ) (38,315 ) (410,394 ) 402,029 (46,680 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (8,047 ) 17,990 (2,619 ) 7,324 (25,622 ) (105,994 ) (426 ) (132,042 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (7,511 ) (46,302 ) 6,537 (47,276 ) (10,292 ) (25,052 ) 26,393 (8,951 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (20,337 ) 21,164 31,504 32,331 (58,330 ) (244,662 ) 245,800 (57,192 ) Total $ (118,626 ) $ 168,622 $ (231,146 ) $ (181,150 ) $ (214,239 ) $ (460,268 ) $ 600,389 $ (74,118 ) Frontier Masters Fund Frontier Trading Company II, LLC $ — $ — $ (4,703 ) $ (4,703 ) $ — $ — $ 36,130 $ 36,130 Frontier Trading Company XXXVIII, LLC — — 3,100 3,100 — — (4,657 ) (4,657 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (11,827 ) 27,230 (47,312 ) (31,909 ) Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (51,154 ) 235,343 (326,220 ) (142,031 ) (62,543 ) 419,529 (214,880 ) 142,106 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (32,744 ) 17,636 26,253 11,145 (55,827 ) (139,604 ) 81,403 (114,028 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (17,623 ) 95,172 21,795 99,344 — — (128,372 ) (128,372 ) Total $ (101,521 ) $ 348,151 $ (279,775 ) $ (33,145 ) $ (130,197 ) $ 307,155 $ (277,688 ) $ (100,730 ) Nine Months Ended September 30, 2018 Nine Months Ended September 2017 Change in Change in Trading Realized Unrealized Net Income Trading Realized Unrealized Net Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Frontier Balanced Fund Frontier Trading Company II, LLC $ — $ — $ 114,510 $ 114,510 $ (32,747 ) $ 216,451 $ (342,327 ) $ (158,623 ) Frontier Trading Company XXXVIII, LLC — — (8,908 ) (8,908 ) — — (215,180 ) (215,180 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (53,188 ) (277,921 ) 103,487 (227,622 ) (64,009 ) (444,842 ) 139,701 (369,150 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (44,264 ) (119,199 ) (22,162 ) (185,625 ) (68,404 ) 189,463 (32,758 ) 88,301 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LL (296,953 ) 894,510 (718,674 ) (121,117 ) (450,701 ) 1,744,230 8,954 1,302,483 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (47,185 ) (114,597 ) 51,845 (109,937 ) (134,386 ) 896,859 (27,111 ) 735,362 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (123 ) — (8,469 ) (8,592 ) — (63 ) (1,015,265 ) (1,015,328 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (111,704 ) (813,565 ) 90,256 (835,013 ) (1,105,937 ) 3,100,899 394,461 2,389,423 Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (73,053 ) (34,735 ) 6,431 (101,357 ) (175,559 ) 207,540 217,419 249,400 Galaxy Plus Fund - Quest Feeder Fund (517) LLC (20,503 ) (88,994 ) 9,703 (99,794 ) (20,728 ) 643,877 (818,574 ) (195,425 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (175,522 ) (1,567,177 ) 154,073 (1,588,626 ) (217,096 ) (862,039 ) (70,599 ) (1,149,734 ) Total $ (822,495 ) $ (2,121,678 ) $ (227,908 ) $ (3,172,081 ) $ (2,269,567 ) $ 5,692,375 $ (1,761,279 ) $ 1,661,529 Frontier Winton Fund Frontier Trading Company II, LLC $ — $ — $ (183,988 ) $ (183,988 ) $ — $ — $ — $ — Frontier Trading Company XXXVIII, LLC — — 88,092 88,092 — — (334,372 ) (334,372 ) Total $ — $ — $ (95,896 ) $ (95,896 ) $ — $ — $ (334,372 ) $ (334,372 ) Frontier Frontier Select Fund Frontier Trading Company XXXIX, LLC $ — $ — $ (38,351 ) $ (38,351 ) $ — $ — $ (249,165 ) $ (249,163 ) Frontier Trading Company XXXVIII, LLC — — (15,611 ) (15,611 ) — — (70,090 ) (70,092 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (83,404 ) (433,416 ) 92,847 (423,973 ) (26,272 ) 455,907 (1,076,952 ) (647,317 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (112,056 ) (80,517 ) (182,320 ) (374,893 ) (35,396 ) 67,150 (209,529 ) (177,775 ) Total $ (195,460 ) $ (513,933 ) $ (143,435 ) $ (852,828 ) $ (61,668 ) $ 523,057 $ (1,605,736 ) $ (966,572 ) Frontier Heritage Fund Frontier Trading Company II, LLC $ — $ — $ 26,444 $ 26,444 $ (61,563 ) $ 113,582 $ (118,339 ) $ (66,320 ) Frontier Trading Company XXXVIII, LLC — — (3,644 ) (3,644 ) — — (104,610 ) (104,610 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (128,567 ) (535,418 ) 67,067 (596,918 ) $ (29,980 ) $ 51,752 $ (142,541 ) (120,769 ) Total $ (128,567 ) $ (535,418 ) $ 89,867 $ (574,118 ) $ (91,543 ) $ 165,334 $ (365,490 ) $ (291,699 ) Frontier Long/Short Commodity Fund Frontier Trading Company XXXVIII, LLC $ — $ — $ (301 ) $ (301 ) $ — $ — $ 48,430 $ 48,430 Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (49,244 ) (27,947 ) 56,870 (20,321 ) Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (75,198 ) 191,295 (164,749 ) (48,652 ) (219,046 ) 608,857 93,673 483,484 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (681 ) — (145,612 ) (146,293 ) (570,790 ) (2,869 ) 5,305 (568,354 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (59,678 ) (230,562 ) 24,115 (266,125 ) (61,797 ) (61,934 ) (105,149 ) (228,880 ) Total $ (135,557 ) $ (39,267 ) $ (286,547 ) $ (461,371 ) $ (900,877 ) $ 516,107 $ 99,129 $ (285,641 ) Frontier Diversified Fund Frontier Trading Company II, LLC $ — $ — $ 40,239 40,239 (34,961 ) 156,232 (215,541 ) (94,270 ) Frontier Trading Company XXXVIII, LLC — — 307 307 — — (217,505 ) (217,505 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (25,766 ) (94,474 ) 36,713 (83,527 ) (47,202 ) (275,640 ) 107,879 (214,963 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (57,740 ) (282,402 ) 368,874 28,732 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (28,732 ) (48,799 ) (12,067 ) (89,598 ) (48,192 ) 115,185 (20,362 ) 46,631 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (127,929 ) 449,134 (404,314 ) (83,109 ) (372,907 ) 1,308,793 157,823 1,093,709 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (28,612 ) (2,139 ) 29,425 (1,326 ) (86,543 ) 613,006 (32,023 ) 494,440 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — (62 ) 1,592 1,530 — (15 ) (379,526 ) (379,541 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (62,615 ) (428,811 ) 18,024 (473,402 ) (716,264 ) 2,120,108 (618 ) 1,403,226 Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (45,287 ) (7,954 ) 2,742 (50,499 ) (170,681 ) 290,815 121,852 241,986 Galaxy Plus Fund - Quest Feeder Fund (517) LLC (23,108 ) (89,102 ) 9,703 (102,507 ) (65,209 ) 1,793,033 (2,309,045 ) (581,221 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (92,781 ) (751,752 ) 54,921 (789,612 ) (167,731 ) (525,880 ) (78,889 ) (772,500 ) Total $ (434,830 ) $ (973,959 ) $ (222,715 ) $ (1,631,504 ) $ (1,767,430 ) $ 5,313,235 $ (2,497,081 ) $ 1,048,724 Frontier Masters Fund Frontier Trading Company II, LLC $ — $ — $ (99,255 ) (99,255 ) 25,034 91,810 (254,854 ) (138,010 ) Frontier Trading Company XV, LLC — — — — (82,918 ) 78,115 (115,394 ) (120,197 ) Frontier Trading Company XXXVIII, LLC — — 20,318 20,318 — — (108,362 ) (108,362 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — (76,396 ) 68,413 (7,983 ) (81,868 ) (54,404 ) 103,126 (33,146 ) Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (200,364 ) 498,398 (429,904 ) (131,870 ) (287,707 ) 937,794 43,617 693,704 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (132,925 ) (709,314 ) 39,893 (802,346 ) (89,695 ) (176,476 ) (192,207 ) (458,378 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (64,811 ) 7,178 (157,460 ) (215,093 ) — — (749,376 ) (749,376 ) Total $ (398,100 ) $ (280,134 ) $ (557,995 ) $ (1,236,229 ) $ (517,154 ) $ 876,839 $ (1,273,450 ) $ (913,765 ) |
Financial Statements of Unconsolidated Trading Companies | The Series’ investments in private investment companies have certain redemption and liquidity restrictions which are described in the following table: Redemptions Redemptions Liquidity Notice Period Permitted Restrictions Frontier Diversified Fund Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - LRR Feeder Fund (522) LLC 24 hours Daily None Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Trend Following Galaxy Plus Fund - Aspect Feeder Fund (532) LLC 24 hours Daily None Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC 24 hours Daily None Galaxy Plus Fund - QIM Feeder Fund (526) LLC 24 hours Daily None Galaxy Plus Fund - Quest Feeder Fund (517) LLC 24 hours Daily None Option Trading Galaxy Plus Fund - Doherty Feeder Fund (528) LLC 24 hours Daily None Frontier Masters Fund Trend Following Galaxy Plus Fund - TT Feeder Fund (531) LLC 24 hours Weekly None Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Frontier Long/Short Commodity Fund Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - LRR Feeder Fund (522) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Frontier Balanced Fund Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC 24 hours Daily None Galaxy Plus Fund - LRR Feeder Fund (522) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Trend Following Galaxy Plus Fund - Aspect Feeder Fund (532) LLC 24 hours Daily None Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC 24 hours Daily None Galaxy Plus Fund - QIM Feeder Fund (526) LLC 24 hours Daily None Galaxy Plus Fund - Quest Feeder Fund (517) LLC 24 hours Daily None Option Trading Galaxy Plus Fund - Doherty Feeder Fund (528) LLC 24 hours Daily None Frontier Select Fund Trend Following Galaxy Plus Fund - TT Feeder Fund (531) LLC 24 hours Weekly None Frontier Heritage Fund Multi-Strategy Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Weekly None |
Equinox Frontier Fund [Member] | |
Equity in Earnings from Unconsolidated Trading Companies | The following table summarizes the Trust’s equity in earnings from each of the private investment companies during the three and nine months ended September 30, 2018 and 2017: Thee Months Ended September 30, 2018 Three Months Ended September 30, 2017 Change in Change in Trading Realized Unrealized Net Income Trading Realized Unrealized Net Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC $ (13,448 ) $ (89,558 ) $ 130,963 $ 27,957 $ (27,526 ) $ (83,578 ) $ 219,283 $ 108,179 Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — — — — (22,467 ) 51,664 (95,593 ) (66,396 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (21,883 ) 61,611 (36,452 ) 3,276 (29,346 ) 63,445 2,935 37,034 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (178,875 ) 1,104,050 (1,538,861 ) (613,686 ) (222,560 ) 1,811,488 (935,550 ) 653,378 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (19,852 ) 35,043 62,055 77,246 (52,255 ) (216,057 ) 556,885 288,573 Galaxy Plus Fund - LRR Feeder Fund (522) LLC — — (97,339 ) (97,339 ) — (2,947 ) (344,286 ) (347,233 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (59,105 ) (298,023 ) 45,680 (311,448 ) (90,999 ) (1,103,456 ) 1,092,377 (102,078 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (18,549 ) 55,948 (8,557 ) 28,842 (56,647 ) (291,572 ) (938 ) (349,157 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (14,086 ) (92,604 ) 13,074 (93,616 ) (17,531 ) (39,564 ) 29,219 (27,876 ) Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC — — (256,019 ) (256,019 ) — — (91,259 ) (91,259 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (39,323 ) 187,011 46,880 194,568 — — (244,467 ) (244,467 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (171,382 ) 119,936 183,815 132,369 (297,366 ) (732,794 ) 413,322 (616,838 ) Total $ (536,503 ) $ 1,083,414 $ (1,454,761 ) $ (907,850 ) $ (816,697 ) $ (543,371 ) $ 601,928 $ (758,140 ) Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 Change in Change in Trading Realized Unrealized Net Income Trading Realized Unrealized Net Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC $ (81,572 ) $ (372,395 ) $ 140,200 $ (313,767 ) $ (111,211 ) $ (720,482 ) $ 247,580 $ (584,113 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC — (76,396 ) 68,413 (7,983 ) (188,852 ) (364,753 ) 528,870 (24,735 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (72,912 ) (167,998 ) (34,229 ) (275,139 ) (116,596 ) 304,648 (53,120 ) 134,932 Galaxy Plus Fund - Emil van Essen STP Feeder Fund (516) LLC (700,233 ) 2,033,337 (1,717,641 ) (384,537 ) (1,330,361 ) 4,599,674 304,067 3,573,380 Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (73,829 ) (116,736 ) 81,270 (109,295 ) (220,929 ) 1,509,865 (59,134 ) 1,229,802 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (804 ) (62 ) (152,150 ) (153,016 ) (570,790 ) (2,947 ) (1,389,486 ) (1,963,223 ) Galaxy Plus Fund - QIM Feeder Fund (526) LLC (174,274 ) (1,242,377 ) 108,280 (1,308,371 ) (1,822,201 ) 5,221,007 393,843 3,792,649 Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC (118,457 ) (42,689 ) 9,173 (151,973 ) (346,240 ) 498,355 339,271 491,386 Galaxy Plus Fund - Quest Feeder Fund (517) LLC (43,536 ) (175,750 ) 19,406 (199,880 ) (85,937 ) 2,436,910 (3,127,619 ) (776,646 ) Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC — — (329,083 ) (329,083 ) — — (795,707 ) (795,707 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (134,728 ) 39,795 (286,272 ) (381,205 ) (26,272 ) 455,907 (1,826,328 ) (1,396,693 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (715,002 ) (4,340,773 ) 379,408 (4,676,367 ) (601,695 ) (1,507,427 ) (798,914 ) (2,908,036 ) Total $ (2,115,347 ) $ (4,462,044 ) $ (1,713,225 ) $ (8,290,616 ) $ (5,421,084 ) $ 12,430,757 $ (6,236,677 ) $ 772,996 |
Financial Statements of Unconsolidated Trading Companies | The Trust’s investments in private investment companies have certain redemption and liquidity restrictions which are described in the following table: Redemptions Redemptions Liquidity Notice Period Permitted Restrictions Frontier Funds Multi-Strategy Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC 24 hours Daily None Galaxy Plus Fund - LRR Feeder Fund (522) LLC 24 hours Daily None Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC 24 hours Daily None Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC 24 hours Daily None Trend Following Galaxy Plus Fund - Aspect Feeder Fund (532) LLC 24 hours Daily None Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC 24 hours Daily None Galaxy Plus Fund - QIM Feeder Fund (526) LLC 24 hours Daily None Galaxy Plus Fund - Quest Feeder Fund (517) LLC 24 hours Daily None Galaxy Plus Fund - QuestFIT Feeder Fund (535) Segregated Portfolio 24 hours Daily None Galaxy Plus Fund - TT Feeder Fund (531) LLC 24 hours Weekly None Option Trading Galaxy Plus Fund - Doherty Feeder Fund (528) LLC 24 hours Daily None |
Transactions with Affiliates (T
Transactions with Affiliates (Tables) - Series Of Frontier Fund [Member] | 9 Months Ended |
Sep. 30, 2018 | |
Fees Earned by Managing Owner | The following table summarizes fees earned by the Managing Owner for the three months and nine months ended September 30, 2018 and 2017: Three Months Ended September 30, 2018 Incentive Fees (rebate) Management Fees Service Fees Trading Fees Frontier Diversified Fund $ 10,897 $ 13,113 $ 14,432 $ 145,750 Frontier Masters Fund — 22,605 11,605 95,225 Frontier Long/Short Commodity Fund — — 334 19,318 Frontier Balanced Fund — 26,643 222,302 339,537 Frontier Select Fund — — 32,149 27,076 Frontier Winton Fund — 104,062 76,839 73,379 Frontier Heritage Fund — 22,635 29,343 33,624 Three Months Ended September 30, 2017 Incentive Fees (rebate) Management Fees Service Fees Trading Fees Frontier Diversified Fund $ — $ 13,509 $ 24,584 $ 221,452 Frontier Masters Fund — 26,862 19,585 151,229 Frontier Long/Short Commodity Fund — — 1,867 40,897 Frontier Balanced Fund — 25,760 323,572 462,275 Frontier Select Fund — — 46,479 39,673 Frontier Winton Fund — 188,835 99,725 127,661 Frontier Heritage Fund — 43,021 40,954 36,907 Nine Months Ended September 30, 2018 Incentive Fees (rebate) Management Fees Service Fees Trading Fees Frontier Diversified Fund $ 12,778 $ 37,905 $ 45,236 $ 454,513 Frontier Masters Fund — 83,816 39,503 335,271 Frontier Long/Short Commodity Fund — — 1,398 65,530 Frontier Balanced Fund 145,134 69,545 723,093 1,068,482 Frontier Select Fund — — 105,111 92,779 Frontier Winton Fund — 366,404 252,006 236,657 Frontier Heritage Fund 1,394 92,509 97,753 112,771 Nine Months Ended September 30, 2017 Incentive Fees (rebate) Management Fees Service Fees Trading Fees Frontier Diversified Fund $ (63,508 ) $ 69,251 $ 110,769 $ 1,154,233 Frontier Masters Fund — 150,767 72,519 527,813 Frontier Long/Short Commodity Fund (87,670 ) — 12,838 183,990 Frontier Balanced Fund — 102,297 1,106,847 1,625,446 Frontier Select Fund — 102,047 176,247 137,940 Frontier Winton Fund (49,790 ) 677,921 368,816 431,025 |
Fees Payable to Managing Owner | The following table summarizes fees payable to the Managing Owner as of September 30, 2018 and December 31, 2017. As of September 30, 2018 Incentive Fees Management Fees Interest Fees Service Fees Trading Fees Frontier Diversified Fund $ 10,897 $ 8,244 $ — $ 4,552 $ 47,283 Frontier Masters Fund — 7,494 — 2,625 32,173 Frontier Long/Short Commodity Fund — — 44 66 6,259 Frontier Balanced Fund — 23,019 3,591 61,951 108,152 Frontier Select Fund — — 765 7,750 8,530 Frontier Winton Fund — 34,474 15,770 20,813 23,696 Frontier Heritage Fund — 6,370 1,918 10,001 11,980 As of December 31, 2017 Incentive Fees Management Fees Interest Fees Service Fees Trading Fees Frontier Diversified Fund $ 12,847 $ 4,049 $ — $ 3,614 $ 61,188 Frontier Masters Fund — 8,949 — 3,570 49,131 Frontier Long/Short Commodity Fund — — 103 172 9,125 Frontier Balanced Fund 40,189 11,465 2,528 88,149 140,868 Frontier Select Fund — — 1,358 14,743 14,898 Frontier Winton Fund — 53,039 20,992 26,714 43,573 Frontier Heritage Fund — 13,471 2,608 11,483 15,703 |
Interest Paid by Each Series to Managing Owner | The following table outlines the interest paid by each Series to the Managing Owner and its ratio to average net assets for the three and nine months ended September 30, 2018 and 2017: Three Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Gross Amount Paid to Gross Amount Paid to Ratio to Average Net Ratio to Average Net the Managing Owner the Managing Owner Assets Assets Frontier Diversified Class 1 $ — $ — 0.00 % 0.00 % Frontier Diversified Class 2 — — 0.00 % 0.00 % Frontier Diversified Class 3 — — 0.00 % 0.00 % Frontier Masters Class 1 — (314 ) 0.00 % -0.01 % Frontier Masters Class 2 — (333 ) 0.00 % -0.01 % Frontier Masters Class 3 — (543 ) 0.00 % -0.01 % Frontier Long/Short Class 2 4 35 0.00 % 0.01 % Frontier Long/Short Class 3 55 289 0.00 % 0.01 % Frontier Long/Short Class 1a — — 0.00 % 0.00 % Frontier Long/Short Class 2a — — 0.00 % 0.00 % Frontier Long/Short Class 3a — — 0.00 % 0.00 % Frontier Balanced Fund Class 1 4,688 9,154 0.01 % 0.02 % Frontier Balanced Fund Class 1AP 85 123 0.02 % 0.02 % Frontier Balanced Fund Class 2 848 2,046 0.01 % 0.02 % Frontier Balanced Fund Class 2A 12 (77 ) 0.00 % -0.01 % Frontier Balanced Fund Class 3A 31 (136 ) 0.00 % -0.01 % Frontier Select Fund Class 1 228 4,708 0.00 % 0.08 % Frontier Select Fund Class 1AP 1 17 0.01 % 0.08 % Frontier Select Fund Class 2 20 686 0.00 % 0.08 % Frontier Winton Class 1 5,024 28,693 0.04 % 0.22 % Frontier Winton Class 1AP 18 74 0.05 % 0.22 % Frontier Winton Class 2 310 23,095 0.03 % 0.22 % Frontier Heritage Fund Class 1 412 7,622 0.01 % 0.14 % Frontier Heritage Fund Class 1AP — 8 0.00 % 0.15 % Frontier Heritage Fund Class 2 68 1,297 0.01 % 0.14 % Total $ 11,804 $ 76,444 Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Gross Amount Paid to Gross Amount Paid to Ratio to Average Net Ratio to Average Net the Managing Owner the Managing Owner Assets Assets Frontier Diversified Class 1 $ — $ (3,860 ) 0.00 % -0.10 % Frontier Diversified Class 2 — (19,555 ) 0.00 % -0.07 % Frontier Diversified Class 3 — (7,071 ) 0.00 % -0.06 % Frontier Masters Class 1 — (4,988 ) 0.00 % -0.12 % Frontier Masters Class 2 — (5,113 ) 0.00 % -0.11 % Frontier Masters Class 3 — (5,881 ) 0.00 % -0.09 % Frontier Long/Short Class 2 41 167 0.02 % 0.03 % Frontier Long/Short Class 3 543 1,566 0.02 % 0.04 % Frontier Long/Short Class 1a — 533 0.00 % 0.07 % Frontier Long/Short Class 2a — 233 0.00 % 0.03 % Frontier Long/Short Class 3a — 189 0.00 % 0.01 % Frontier Balanced Fund Class 1 19,340 199,538 0.06 % 0.40 % Frontier Balanced Fund Class 1AP 341 2,539 0.06 % 0.41 % Frontier Balanced Fund Class 2 3,504 54,615 0.06 % 0.31 % Frontier Balanced Fund Class 2A 51 494 0.01 % 0.09 % Frontier Balanced Fund Class 3A 139 1,316 0.01 % 0.08 % Frontier Select Fund Class 1 6,063 28,362 0.13 % 0.36 % Frontier Select Fund Class 1AP 26 84 0.13 % 0.35 % Frontier Select Fund Class 2 744 4,295 0.13 % 0.36 % Frontier Winton Class 1 67,727 40,855 0.60 % 0.25 % Frontier Winton Class 1AP 212 50 0.59 % 0.14 % Frontier Winton Class 2 7,338 17,017 0.65 % 0.15 % Frontier Heritage Fund Class 1 5,794 33,744 0.13 % 0.53 % Frontier Heritage Fund Class 1AP 5 29 0.14 % 0.52 % Frontier Heritage Fund Class 2 904 10,039 0.13 % 0.56 % Total $ 112,772 $ 349,196 |
Financial Highlights (Tables)
Financial Highlights (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Financial Highlights of Trust | The following information presents the financial highlights of the Trust, with respect to the Series, for the three and nine months ended September 30, 2018 and 2017. Frontier Diversified Fund Frontier Masters Fund Frontier Long/Short Commodity Fund Class 1 Class 2 Class 3 Class 1 Class 2 Class 3 Class 1a Class 2 Class 2a Class 3 Class 3a Per unit operating performance (1) Net asset value, June 30, 2018 $ 108.30 $ 126.87 $ 118.09 $ 99.33 $ 116.38 $ 108.77 $ 70.78 $ 106.52 $ 82.13 $ 111.75 $ 86.11 Net operating results: Interest income 0.06 0.07 0.06 0.07 0.08 0.07 0.07 0.11 0.08 0.11 0.08 Expenses (1.83 ) (1.19 ) (1.11 ) (2.16 ) (1.91 ) (1.79 ) (1.15 ) (0.64 ) (0.48 ) (0.67 ) (0.50 ) Net gain/(loss) on investments, net of non-controlling interests (2.07 ) (2.83 ) (2.57 ) (0.02 ) (0.15 ) (0.06 ) (3.50 ) (2.44 ) (4.58 ) (2.57 ) (4.75 ) Net income/(loss) (3.84 ) (3.96 ) (3.62 ) (2.13 ) (1.99 ) (1.78 ) (4.59 ) (2.98 ) (4.98 ) (3.13 ) (5.17 ) Net asset value, September 30, 2018 $ 104.46 $ 122.91 $ 114.47 $ 97.20 $ 114.39 $ 106.99 $ 66.19 $ 103.54 $ 77.15 $ 108.62 $ 80.94 Ratios to average net assets Net investment income/(loss) -6.52 % -3.45 % -3.45 % -8.57 % -6.38 % -6.38 % -6.44 % -2.04 % -2.04 % -2.04 % -2.04 % Expenses before incentive fees (3)(4) 6.67 % 3.60 % 3.60 % 8.83 % 6.65 % 6.65 % 6.84 % 2.45 % 2.45 % 2.45 % 2.45 % Expenses after incentive fees (3)(4) 6.73 % 3.66 % 3.66 % 8.83 % 6.65 % 6.65 % 6.84 % 2.45 % 2.45 % 2.45 % 2.45 % Total return before incentive fees (2) -3.48 % -3.06 % -3.00 % -2.14 % -1.71 % -1.64 % -6.48 % -2.80 % -6.06 % -2.80 % -6.00 % Total return after incentive fees (2) -3.55 % -3.12 % -3.07 % -2.14 % -1.71 % -1.64 % -6.48 % -2.80 % -6.06 % -2.80 % -6.00 % Frontier Balanced Fund Frontier Select Fund Class 1 Class 1AP Class 2 Class 2a Class 3a Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, June 30, 2018 $ 125.21 $ 140.68 $ 189.72 $ 164.33 $ 163.77 $ 74.75 $ 84.07 $ 111.56 Net operating results: Interest income 0.02 0.03 0.03 0.03 0.03 0.00 0.00 0.00 Expenses (2.14 ) (1.38 ) (1.86 ) (1.61 ) (1.60 ) (1.01 ) (0.50 ) (0.67 ) Net gain/(loss) on investments, net of non-controlling interests (3.30 ) (3.70 ) (5.00 ) (4.26 ) (4.26 ) 1.67 1.88 2.51 Net income/(loss) (5.40 ) (5.05 ) (6.82 ) (5.85 ) (5.83 ) 0.66 1.38 1.84 Net asset value, September 30, 2018 $ 119.81 $ 135.63 $ 182.90 $ 158.48 $ 157.94 $ 75.41 $ 85.45 $ 113.40 Ratios to average net assets Net investment income/(loss) -6.89 % -3.89 % -3.89 % -3.89 % -3.89 % -5.36 % -2.36 % -2.36 % Expenses before incentive fees (3)(4) 7.01 % 4.01 % 4.01 % 4.01 % 4.01 % 5.36 % 2.36 % 2.36 % Expenses after incentive fees (3)(4) 7.01 % 4.01 % 4.01 % 4.01 % 4.01 % 5.36 % 2.36 % 2.36 % Total return before incentive fees (2) -4.31 % -3.59 % -3.59 % -3.56 % -3.56 % 0.88 % 1.64 % 1.65 % Total return after incentive fees (2) -4.31 % -3.59 % -3.59 % -3.56 % -3.56 % 0.88 % 1.64 % 1.65 % Frontier Winton Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, June 30, 2018 $ 148.66 $ 167.19 $ 203.47 $ 102.68 $ 115.46 $ 154.54 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (3.55 ) (2.74 ) (3.63 ) (2.04 ) (1.43 ) (1.91 ) Net gain/(loss) on investments, net of non-controlling interests 0.91 1.06 6.36 0.46 0.55 0.68 Net income/(loss) (2.64 ) (1.68 ) 2.73 (1.58 ) (0.88 ) (1.23 ) Net asset value, September 30, 2018 $ 146.02 $ 165.51 $ 206.20 $ 101.10 $ 114.58 $ 153.31 Ratios to average net assets Net investment income/(loss) -9.49 % -6.49 % -6.49 % -7.93 % -4.93 % -4.93 % Expenses before incentive fees (3)(4) 9.49 % 6.49 % 6.49 % 7.93 % 4.93 % 4.93 % Expenses after incentive fees (3)(4) 9.49 % 6.49 % 6.49 % 7.93 % 4.93 % 4.93 % Total return before incentive fees (2) -1.78 % -1.00 % 1.34 % -1.54 % -0.76 % -0.80 % Total return after incentive fees (2) -1.78 % -1.00 % 1.34 % -1.54 % -0.76 % -0.80 % (1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. (2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized. (3) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6. (4) Expense ratios do not include mangement and incentive fees at the Galaxy Plus entities. The ratios would have been higher had those expenses been included. The impact of those fees are included in the total return. Frontier Diversified Fund Frontier Masters Fund Frontier Long/Short Commodity Fund Class 1 Class 2 Class 3 Class 1 Class 2 Class 3 Class 1a Class 2 Class 2a Class 3 Class 3a Per unit operating performance (1) Net asset value, December 31, 2017 $ 116.41 $ 135.19 $ 125.68 $ 114.74 $ 133.27 $ 124.40 $ 81.35 $ 115.81 $ 93.59 $ 121.50 $ 97.99 Net operating results: Interest income 0.16 0.19 0.17 0.25 0.30 0.28 0.23 0.33 0.26 0.34 0.27 Expenses (3.19 ) (3.72 ) (3.47 ) (5.44 ) (6.43 ) (5.97 ) (1.43 ) (2.06 ) (1.62 ) (2.15 ) (1.70 ) Net gain/(loss) on investments, net of non-controlling interests (8.91 ) (8.74 ) (7.92 ) (12.35 ) (12.75 ) (11.72 ) (13.96 ) (10.54 ) (15.08 ) (11.08 ) (15.62 ) Net income/(loss) (11.95 ) (12.28 ) (11.21 ) (17.54 ) (18.88 ) (17.41 ) (15.16 ) (12.27 ) (16.44 ) (12.88 ) (17.05 ) Net asset value, September 30, 2018 $ 104.46 $ 122.91 $ 114.47 $ 97.20 $ 114.39 $ 106.99 $ 66.19 $ 103.54 $ 77.15 $ 108.62 $ 80.94 Ratios to average net assets Net investment income/(loss) -3.73 % -3.73 % -3.73 % -6.92 % -6.92 % -6.92 % -2.08 % -2.08 % -2.08 % -2.08 % -2.08 % Expenses before incentive fees (3)(4) 3.86 % 3.86 % 3.86 % 7.26 % 7.26 % 7.26 % 2.47 % 2.47 % 2.47 % 2.47 % 2.47 % Expenses after incentive fees (3)(4) 3.93 % 3.93 % 3.93 % 7.26 % 7.26 % 7.26 % 2.47 % 2.47 % 2.47 % 2.47 % 2.47 % Total return before incentive fees (2) -10.20 % -9.01 % -8.85 % -15.29 % -14.17 % -14.00 % -18.64 % -10.59 % -17.57 % -10.60 % -17.40 % Total return after incentive fees (2) -10.27 % -9.08 % -8.92 % -15.29 % -14.17 % -14.00 % -18.64 % -10.59 % -17.57 % -10.60 % -17.40 % Frontier Balanced Fund Frontier Select Fund Class 1 Class 1AP Class 2 Class 2a Class 3a Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, December 31, 2017 $ 135.96 $ 150.56 $ 202.90 $ 175.77 $ 175.18 $ 90.27 $ 100.02 $ 132.73 Net operating results: Interest income 0.10 0.11 0.15 0.13 0.13 0.00 0.00 0.00 Expenses (6.82 ) (4.49 ) (6.06 ) (5.26 ) (5.24 ) (3.15 ) (1.56 ) (2.10 ) Net gain/(loss) on investments, net of non-controlling interests (9.44 ) (10.55 ) (14.09 ) (12.16 ) (12.13 ) (11.71 ) (13.01 ) (17.22 ) Net income/(loss) (16.15 ) (14.93 ) (20.00 ) (17.29 ) (17.24 ) (14.86 ) (14.57 ) (19.32 ) Net asset value, September 30, 2018 $ 119.81 $ 135.63 $ 182.90 $ 158.48 $ 157.94 $ 75.41 $ 85.45 $ 113.41 Ratios to average net assets Net investment income/(loss) -7.05 % -4.05 % -4.05 % -4.05 % -4.05 % -5.37 % -2.37 % -2.37 % Expenses before incentive fees (3)(4) 6.81 % 3.81 % 3.81 % 3.81 % 3.81 % 5.37 % 2.37 % 2.37 % Expenses after incentive fees (3)(4) 7.17 % 4.17 % 4.17 % 4.17 % 4.17 % 5.37 % 2.37 % 2.37 % Total return before incentive fees (2) -11.52 % -9.55 % -9.50 % -9.48 % -9.48 % -16.46 % -14.57 % -14.56 % Total return after incentive fees (2) -11.88 % -9.92 % -9.86 % -9.84 % -9.84 % -16.46 % -14.57 % -14.56 % Frontier Winton Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, December 31, 2017 $ 159.08 $ 176.44 $ 216.50 $ 121.19 $ 134.28 $ 179.70 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (10.70 ) (8.20 ) (10.43 ) (6.79 ) (5.00 ) (6.56 ) Net gain/(loss) on investments, net of non-controlling interests (2.36 ) (2.73 ) 0.13 (13.31 ) (14.70 ) (19.83 ) Net income/(loss) (13.06 ) (10.93 ) (10.30 ) (20.10 ) (19.70 ) (26.39 ) Net asset value, September 30, 2018 $ 146.02 $ 165.51 $ 206.20 $ 101.09 $ 114.58 $ 153.31 Ratios to average net assets Net investment income/(loss) -9.52 % -6.52 % -6.52 % -8.46 % -5.47 % -5.47 % Expenses before incentive fees (3)(4) 9.52 % 6.52 % 6.52 % 8.44 % 5.44 % 5.44 % Expenses after incentive fees (3)(4) 9.52 % 6.52 % 6.52 % 8.46 % 5.47 % 5.47 % Total return before incentive fees (2) -8.21 % -6.19 % -4.76 % -16.56 % -14.64 % -14.66 % Total return after incentive fees (2) -8.21 % -6.19 % -4.76 % -16.59 % -14.67 % -14.69 % (1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. (2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized. (3) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6. (4) Expense ratios do not include mangement and incentive fees at the Galaxy Plus entities. The ratios would have been higher had those expenses been included. The impact of those fees are included in the total return. Frontier Diversified Fund Frontier Masters Fund Frontier Long/Short Commodity Fund Class 1 Class 2 Class 3 Class 1 Class 2 Class 3 Class 1a Class 2 Class 2a Class 3 Class 3a Per unit operating performance (1) Net asset value, June 30, 2017 $ 111.73 $ 128.62 $ 119.42 $ 102.39 $ 117.90 $ 109.90 $ 83.63 $ 116.35 $ 95.39 $ 122.06 $ 99.76 Net operating results: Interest income 0.01 0.01 0.01 0.11 0.12 0.11 0.00 0.00 0.00 0.00 0.00 Expenses (1.86 ) (1.22 ) (1.13 ) (2.03 ) (1.65 ) (1.54 ) (1.16 ) (0.87 ) (0.72 ) (0.91 ) (0.75 ) Net gain/(loss) on investments, net of non-controlling interests 0.22 (0.11 ) (0.03 ) (1.06 ) (1.42 ) (1.24 ) 0.79 0.84 0.69 0.89 0.78 Net income/(loss) (1.63 ) (1.32 ) (1.15 ) (2.98 ) (2.95 ) (2.67 ) (0.37 ) (0.03 ) (0.03 ) (0.02 ) 0.03 Net asset value, September 30, 2017 $ 110.10 $ 127.30 $ 118.27 $ 99.41 $ 114.95 $ 107.23 $ 83.26 $ 116.32 $ 95.36 $ 122.04 $ 99.79 Ratios to average net assets (3) Net investment income/(loss) -6.50 % -3.69 % -3.69 % -7.26 % -4.99 % -4.99 % -5.31 % -2.87 % -2.87 % -2.87 % -2.87 % Expenses before incentive fees (rebate) (4)(5) 6.52 % 3.72 % 3.72 % 7.66 % 5.39 % 5.39 % 5.31 % 2.87 % 2.87 % 2.87 % 2.87 % Expenses after incentive fees (rebate) (4)(5) 6.52 % 3.72 % 3.72 % 7.66 % 5.39 % 5.39 % 5.31 % 2.87 % 2.87 % 2.87 % 2.87 % Total return before incentive fees (rebate) (2) -1.46 % -1.03 % -0.96 % -2.91 % -2.50 % -2.43 % -0.44 % -0.03 % -0.03 % -0.02 % 0.03 % Total return after incentive fees (rebate) (2) -1.46 % -1.03 % -0.96 % -2.91 % -2.50 % -2.43 % -0.44 % -0.03 % -0.03 % -0.02 % 0.03 % Frontier Balanced Fund Frontier Select Fund Class 1 Class 1AP Class 2 Class 2a Class 3a Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, June 30, 2017 $ 129.84 $ 141.71 $ 190.62 $ 165.77 $ 165.22 $ 78.79 $ 85.90 $ 114.11 Net operating results: Interest income 0.02 0.02 0.03 0.03 0.03 0.00 0.00 0.00 Expenses (2.20 ) (1.32 ) (1.77 ) (1.54 ) (1.54 ) (1.07 ) (0.50 ) (0.66 ) Net gain/(loss) on investments, net of non-controlling interests 0.54 0.57 0.76 0.72 0.71 (3.26 ) (3.52 ) (4.79 ) Net income/(loss) (1.64 ) (0.73 ) (0.98 ) (0.79 ) (0.80 ) (4.33 ) (4.02 ) (5.45 ) Net asset value, September 30, 2017 $ 128.20 $ 140.98 $ 189.64 $ 164.98 $ 164.42 $ 74.46 $ 81.88 $ 108.66 Ratios to average net assets (3) Net investment income/(loss) -6.57 % -3.57 % -3.57 % -3.57 % -3.57 % -5.24 % -2.24 % -2.24 % Expenses before incentive fees (rebate) (4)(5) 6.63 % 3.63 % 3.63 % 3.63 % 3.63 % 5.24 % 2.24 % 2.24 % Expenses after incentive fees (rebate) (4)(5) 6.63 % 3.63 % 3.63 % 3.63 % 3.63 % 5.24 % 2.24 % 2.24 % Total return before incentive fees (rebate) (2) -1.26 % -0.52 % -0.51 % -0.48 % -0.48 % -5.50 % -4.68 % -4.78 % Total return after incentive fees (rebate) (2) -1.26 % -0.52 % -0.51 % -0.48 % -0.48 % -5.50 % -4.68 % -4.78 % Frontier Winton Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, June 30, 2017 $ 144.09 $ 157.26 $ 199.66 $ 108.98 $ 118.94 $ 159.18 Net operating results: Interest income 0.12 0.13 0.17 0.00 0.00 0.00 Expenses (3.18 ) (2.28 ) (2.90 ) (2.23 ) (1.53 ) (2.05 ) Net gain/(loss) on investments, net of non-controlling interests 1.27 1.39 1.77 (0.76 ) (0.86 ) (1.16 ) Net income/(loss) (1.79 ) (0.76 ) (0.96 ) (2.99 ) (2.39 ) (3.21 ) Net asset value, September 30, 2017 $ 142.30 $ 156.50 $ 198.70 $ 105.99 $ 116.55 $ 155.97 Ratios to average net assets (3) Net investment income/(loss) -8.38 % -5.38 % -5.38 % -8.02 % -5.02 % -5.02 % Expenses before incentive fees (rebate) (4)(5) 8.71 % 5.71 % 5.71 % 8.02 % 5.02 % 5.02 % Expenses after incentive fees (rebate) (4)(5) 8.71 % 5.71 % 5.71 % 8.02 % 5.02 % 5.02 % Total return before incentive fees (rebate) (2) -1.24 % -0.48 % -0.48 % -2.74 % -2.01 % -2.02 % Total return after incentive fees (rebate) (2) -1.24 % -0.48 % -0.48 % -2.74 % -2.01 % -2.02 % (1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. (2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized. (3) Annualized with the exception of incentive fees. (4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, refer to Note 6 of the Financial Statements. (5) Expense ratios do not include management and incentive fees at the Galaxy Plus entities. The ratios would have been higher had those expenses been included. The impact of those fees are included in the total return. Frontier Diversified Fund Frontier Masters Fund Frontier Long/Short Commodity Fund Class 1 Class 2 Class 3 Class 1 Class 2 Class 3 Class 1a Class 2 Class 2a Class 3 Class 3a Per unit operating performance (1) Net asset value, December 31, 2016 $ 116.43 $ 132.94 $ 123.27 $ 112.80 $ 128.78 $ 119.89 $ 92.78 $ 129.56 $ 105.67 $ 130.80 $ 107.50 Net operating results: Interest income 0.27 0.30 0.28 0.53 0.61 0.56 0.01 0.00 0.00 0.00 0.00 Expenses (6.36 ) (3.56 ) (3.28 ) (6.82 ) (5.69 ) (5.27 ) (3.15 ) (2.19 ) (1.79 ) (2.22 ) (1.82 ) Net gain/(loss) on investments, net of non-controlling interests (0.24 ) (2.38 ) (2.00 ) (7.10 ) (8.75 ) (7.95 ) (6.38 ) (11.05 ) (8.52 ) (6.54 ) (5.89 ) Net income/(loss) (6.33 ) (5.64 ) (5.00 ) (13.39 ) (13.83 ) (12.66 ) (9.52 ) (13.24 ) (10.31 ) (8.76 ) (7.71 ) Net asset value, September 30, 2017 $ 110.10 $ 127.30 $ 118.27 $ 99.41 $ 114.95 $ 107.23 $ 83.26 $ 116.32 $ 95.36 $ 122.04 $ 99.79 Ratios to average net assets (3) Net investment income/(loss) -7.02 % -3.26 % -3.26 % -7.59 % -5.33 % -5.33 % -4.92 % -2.70 % -2.70 % -2.70 % -2.70 % Expenses before incentive fees (rebate) (4)(5) 7.46 % 3.70 % 3.70 % 8.23 % 5.97 % 5.97 % 6.17 % 3.95 % 3.95 % 3.95 % 3.95 % Expenses after incentive fees (rebate) (4)(5) 7.32 % 3.56 % 3.56 % 8.23 % 5.97 % 5.97 % 4.92 % 2.70 % 2.70 % 2.70 % 2.70 % Total return before incentive fees (rebate) (2) -5.58 % -4.39 % -4.20 % -11.87 % -10.74 % -10.56 % -11.52 % -11.47 % -11.01 % -7.95 % -8.43 % Total return after incentive fees (rebate) (2) -5.44 % -4.24 % -4.06 % -11.87 % -10.74 % -10.56 % -10.26 % -10.22 % -9.76 % -6.70 % -7.17 % Frontier Balanced Fund Frontier Select Fund Class 1 Class 1AP Class 2 Class 2a Class 3a Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, December 31, 2016 $ 134.80 $ 144.97 $ 194.99 $ 169.05 $ 168.49 $ 94.06 $ 101.16 $ 134.25 Net operating results: Interest income 0.02 0.02 0.03 0.02 0.02 0.00 0.00 0.00 Expenses (6.75 ) (4.06 ) (5.49 ) (4.75 ) (4.73 ) (4.24 ) (2.49 ) (3.32 ) Net gain/(loss) on investments, net of non-controlling interests 0.13 0.05 0.11 0.66 0.64 (15.36 ) (16.79 ) (22.27 ) Net income/(loss) (6.60 ) (3.99 ) (5.35 ) (4.07 ) (4.07 ) (19.60 ) (19.28 ) (25.59 ) Net asset value, September 30, 2017 $ 128.20 $ 140.98 $ 189.64 $ 164.98 $ 164.42 $ 74.46 $ 81.88 $ 108.66 Ratios to average net assets (3) Net investment income/(loss) -6.66 % -3.68 % -3.68 % -3.68 % -3.68 % -6.51 % -3.54 % -3.54 % Expenses before incentive fees (rebate) (4)(5) 6.68 % 3.70 % 3.70 % 3.70 % 3.70 % 6.51 % 3.54 % 3.54 % Expenses after incentive fees (rebate) (4)(5) 6.68 % 3.70 % 3.70 % 3.70 % 3.70 % 6.51 % 3.54 % 3.54 % Total return before incentive fees (rebate) (2) -4.90 % -2.75 % -2.74 % -2.41 % -2.42 % -20.84 % -19.06 % -19.06 % Total return after incentive fees (rebate) (2) -4.90 % -2.75 % -2.74 % -2.41 % -2.42 % -20.84 % -19.06 % -19.06 % Frontier Winton Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, December 31, 2016 $ 154.51 $ 166.17 $ 210.98 $ 119.58 $ 128.60 $ 172.10 Net operating results: Interest income 0.11 0.12 0.15 0.00 0.00 0.00 Expenses (9.63 ) (6.83 ) (8.66 ) (6.81 ) (4.62 ) (6.24 ) Net gain/(loss) on investments, net of non-controlling interests (2.69 ) (2.96 ) (3.77 ) (6.78 ) (7.43 ) (9.89 ) Net income/(loss) (12.21 ) (9.67 ) (12.28 ) (13.59 ) (12.05 ) (16.13 ) Net asset value, September 30, 2017 $ 142.30 $ 156.50 $ 198.70 $ 105.99 $ 116.55 $ 155.97 Ratios to average net assets (3) Net investment income/(loss) -8.55 % -5.58 % -5.58 % -7.98 % -5.01 % -5.01 % Expenses before incentive fees (rebate) (4)(5) 8.83 % 5.85 % 5.85 % 8.04 % 5.06 % 5.06 % Expenses after incentive fees (rebate) (4)(5) 8.65 % 5.67 % 5.67 % 7.98 % 5.01 % 5.01 % Total return before incentive fees (rebate) (2) -8.08 % -6.00 % -6.00 % -11.42 % -9.43 % -9.43 % Total return after incentive fees (rebate) (2) -7.90 % -5.82 % -5.82 % -11.36 % -9.37 % -9.37 % (1) Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. (2) Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner’s total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized. (3) Annualized with the exception of incentive fees. (4) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, refer to Note 6 of the Financial Statements. (5) Expense ratios do not include management and incentive fees at the Galaxy Plus entities. The ratios would have been higher had those expenses been included. The impact of those fees are included in the total return. |
Equinox Frontier Fund [Member] | |
Financial Highlights of Trust | The following information presents the financial highlights of the Trust for the three and nine months ended September 30, 2018 and 2017. This data has been derived from the information presented in the consolidated financial statements. Three months ended 2018 2017 Ratios to average net assets (1) Net investment gain/(loss) (1) -6.10 % -5.76 % Expenses before incentive fees (3) 6.37 % 5.89 % Expenses after incentive fees (3) 6.38 % 5.89 % Total return before incentive fees (2) -3.17 % -1.18 % Total return after incentive fees (2) -3.18 % -1.18 % Nine months ended 2018 2017 Ratios to average net assets (1) Net investment gain/(loss) (1) -6.07 % -5.73 % Expenses before incentive fees (3) 6.15 % 6.01 % Expenses after incentive fees (3) 6.32 % 5.89 % Total return before incentive fees (2) -13.04 % -4.92 % Total return after incentive fees (2) -13.20 % -4.80 % (1) Annualized with the exception of incentive fees. (2) Total returns are not annualized. (3) Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Consolidated Statements of Operations of the Trust. See footnote 5. |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Series Of Frontier Fund [Member] | |
Averages of Futures Contracts | For the Three Months Ended September 30, 2018 Monthly average contracts Bought Sold Frontier Balanced Fund 231 231 For the Three Months Ended September 30, 2017 Monthly average contracts Bought Sold Frontier Balanced Fund 567 459 Frontier Winton Fund 1,849 1,477 For the Nine Months Ended September 30, 2018 Monthly average contracts Bought Sold Frontier Balanced Fund 1,753 1,749 For the Nine Months Ended September 30, 2017 Monthly average contracts Bought Sold Frontier Balanced Fund 1,195 1,121 Frontier Select Fund 4,690 4,675 Frontier Winton Fund 2,168 1,978 |
Realized Trading Revenue from Futures, Forwards and Options | The following tables summarize the trading revenues for the three and nine months ended September 30, 2018 and 2017 by sector: Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2018 Frontier Balanced Type of contract Fund Metals $ 122,534 Currencies 8,349 Energies (18,352 ) Agriculturals (26,065 ) Interest rates (64,465 ) Stock indices (8,877 ) Realized trading income/(loss) (1) $ 13,124 Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2017 Frontier Balanced Frontier Winton Type of contract Fund Fund Metals $ (35,090 ) $ (380,449 ) Currencies 418,961 274,057 Energies (37,022 ) (434,257 ) Agriculturals (255,648 ) (307,146 ) Interest rates 26,520 (125,819 ) Stock indices (35,713 ) 697,405 Realized trading income/(loss) (1) $ 82,008 $ (276,209 ) (1) Amounts recorded in the Statements of Operations under Net realized gain/(loss) on futures, forwards, and options Realized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2018 Frontier Balanced Type of contract Fund Metals $ 16,990 Currencies (190,681 ) Energies 42,905 Agriculturals 24,718 Interest rates (161,677 ) Stock indices (2,467 ) Realized trading income/(loss) (1) $ (270,212 ) Realized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2017 Frontier Balanced Frontier Select Frontier Winton Type of contract Fund Fund Fund Metals $ (112,630 ) $ (145,043 ) $ (1,442,763 ) Currencies 238,745 (126,405 ) (1,244,155 ) Energies (868 ) (516,253 ) (1,721,544 ) Agriculturals (509,639 ) 27,824 399,406 Interest rates (425,751 ) (768,438 ) (1,296,976 ) Stock indices 240,982 832,876 6,359,249 Realized trading income/(loss) (1) $ (569,161 ) $ (695,436 ) $ 1,053,217 (1) Amounts recorded in the Statements of Operations under Net realized gain/(loss) on futures, forwards, and options |
Offsetting of Derivative Assets and Liabilities | The following tables summarize the trading revenues for the three and nine months ended September 30, 2018 and 2017 by sector: Unrealized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2018 Frontier Balanced Type of contract Fund Metals $ (10,838 ) Currencies (83,636 ) Energies 6,294 Agriculturals 38,061 Interest rates (24,837 ) Stock indices 11,426 Change in unrealized trading income/(loss)(1) $ (63,530 ) Unrealized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2017 Frontier Balanced Frontier Winton Type of contract Fund Fund Metals $ 41,418 $ (5,368 ) Currencies (257,141 ) (221,054 ) Energies 8,412 204,615 Agriculturals 59,883 204,560 Interest rates 31,989 (179,186 ) Stock indices 31,400 771,765 Change in unrealized trading income/(loss) (1) $ (84,039 ) $ 775,332 (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) Unrealized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2018 Frontier Balanced Type of contract Fund Metals $ 12,286 Currencies (185,045 ) Energies (45,174 ) Agriculturals (5,025 ) Interest rates 87,216 Stock indices (5,450 ) Change in unrealized trading income/(loss) (1) $ (141,192 ) Unrealized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2017 Frontier Balanced Frontier Select Frontier Winton Type of contract Fund Fund Fund Metals $ (110,251 ) $ (51,351 ) $ 10,108 Currencies (258,229 ) (370,286 ) (843,998 ) Energies 11,735 (146,125 ) 28,571 Agriculturals (96,789 ) 108,409 (92,870 ) Interest rates 38,801 (296,328 ) (827,879 ) Stock indices 11,496 609,833 95,619 Change in unrealized trading income/(loss) (1) $ (403,237 ) $ (145,848 ) $ (1,630,449 ) (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) |
Schedule Of Net Trading Gain Loss | The following tables present gross and net information about the Series’ assets and liabilities subject to master netting arrangements as disclosed on the statements of financial condition as of September 30, 2018 and December 31, 2017. As of September 30, 2018 Net Amounts Gross Amounts Presented in the Gross Amounts of offset in the Statements of recognized Statements of Financial Derivative Assets Financial Condition Frontier Balanced Fund Open Trade Equity/(Deficit) $ 580,714 $ (604,158 ) $ (23,444 ) Swap Contracts 9,850,185 — 9,850,185 Frontier Diversified Fund Swap Contracts $ 5,575,997 $ — $ 5,575,997 Frontier Long/Short Commodity Fund Swap Contracts $ 471,942 $ — $ 471,942 Frontier Heritage Fund Swap Contracts $ 3,010,288 $ — $ 3,010,288 As of December 31, 2017 Net Amounts Gross Amounts Presented in the Gross Amounts offset in the Statements of of recognized Statements of Financial Derivative Assets Financial Condition Condition Frontier Balanced Fund Open Trade Equity/(Deficit) $ 343,222 $ (164,670 ) $ 178,552 Swap Contracts 11,340,959 — 11,340,959 Frontier Diversified Fund Swap Contracts $ 6,376,472 $ — $ 6,376,472 Frontier Long/Short Commodity Fund Swap Contracts $ 397,039 $ — $ 397,039 Frontier Heritage Fund Swap Contracts $ 3,094,367 $ — $ 3,094,367 |
Equinox Frontier Fund [Member] | |
Realized Trading Revenue from Futures, Forwards and Options | The following tables summarize the trading revenues for the three and nine months ended September 30, 2018 and 2017 by sector: Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2018 Type of contract Metals $ 234,519 Currencies 520,493 Energies (25,579 ) Agriculturals 198,513 Interest rates (298,384 ) Stock indices 546,293 Realized trading income/(loss) (1) $ 1,175,855 Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2017 Type of contract Metals $ (415,539 ) Currencies 693,018 Energies (471,279 ) Agriculturals (562,795 ) Interest rates (99,299 ) Stock indices 661,692 Realized trading income/(loss)(1) $ (194,202 ) (1) Amounts recorded in the Statements of Operations under Net realized gain/(loss) on futures, forwards, and options Realized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2018 Type of contract Metals $ 1,012,647 Currencies (985,268 ) Energies 1,048,526 Agriculturals 287,301 Interest rates 1,723 Stock indices (227,965 ) Realized trading income/(loss) (1) $ 1,136,964 Realized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2017 Type of contract Metals $ (1,700,436 ) Currencies (1,131,814 ) Energies (2,238,664 ) Agriculturals (82,409 ) Interest rates (2,491,165 ) Stock indices 7,433,107 Realized trading income/(loss)(1) $ (211,381 ) (1) Amounts recorded in the Statements of Operations under Net realized gain/(loss) on futures, forwards, and options |
Offsetting of Derivative Assets and Liabilities | The following tables summarize the trading revenues for the three and nine months ended September 30, 2018 and 2017 by sector: Unrealized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2018 Type of contract Metals $ (235,504 ) Currencies (538,221 ) Energies 60,010 Agriculturals (160,030 ) Interest rates 84,141 Stock indices 76,487 Change in unrealized trading income/(loss)(1) $ (713,117 ) Unrealized Trading Revenue from Futures, Forwards and Options for the Three Months Ended September 30, 2017 Type of contract Metals $ 36,050 Currencies (478,195 ) Energies 213,027 Agriculturals 264,443 Interest rates (147,197 ) Stock indices 803,166 Change in unrealized trading income/(loss) (1) $ 691,294 (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) Unrealized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2018 Type of contract Metals $ (474,681 ) Currencies (425,578 ) Energies (313,242 ) Agriculturals 65,596 Interest rates (30,149 ) Stock indices (49,303 ) Change in unrealized trading income/(loss)(1) $ (1,227,357 ) Unrealized Trading Revenue from Futures, Forwards and Options for the Nine Months Ended September 30, 2017 Type of contract Metals $ (151,493 ) Currencies (1,472,515 ) Energies (105,818 ) Agriculturals (81,250 ) Interest rates (1,085,406 ) Stock indices 716,949 Change in unrealized trading income/(loss) (1) $ (2,179,533 ) (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) |
Schedule Of Net Trading Gain Loss | The following tables present gross and net information about the Trust’s assets and liabilities subject the master netting arrangements as disclosed on the consolidated statements of financial condition as of September 30, 2018 and December 31, 2017: As of September 30, 2018 Net Amounts Gross Amounts Presented in the Gross Amounts of offset in the Statements of recognized Statements of Financial Derivative Assets Financial Condition Open Trade Equity/(Deficit) $ 1,593,779 $ (1,247,053 ) $ 346,726 Swap Contracts 18,908,412 — 18,908,412 As of December 31, 2017 Net Amounts Gross Amounts Presented in the offset in the Consolidated Gross Amounts Consolidated Statements of of recognized Statements of Financial Derivative Assets Financial Condition Condition Open Trade Equity/(Deficit) $ 2,758,014 $ (1,189,600 ) $ 1,568,414 Swap Contracts 21,208,838 — 21,208,838 |
Organization and Purpose (Detai
Organization and Purpose (Details Narrative) | 9 Months Ended |
Sep. 30, 2018 | |
Equinox Frontier Fund [Member] | |
Managing owner contributions to the series of the trust | 1.00% |
Equinox Frontier Fund [Member] | Class 1 or Class 1A [Member] | |
Percentage of NAV charged as a service fees | 3.00% |
Amortized monthly annual rate | 3.00% |
Redemption fee | 3.00% |
Equinox Frontier Fund [Member] | Class 1, Class 1AP and Class 1A [Member] | |
Redemption fee | 3.00% |
Equinox Frontier Fund [Member] | Class 2 [Member] | |
Service fee | 0.25% |
Equinox Frontier Fund [Member] | Class 2 and Class 2A [Member] | |
Service fee | 0.50% |
Service fee charged to limited owners | 0.25% |
Series Of Frontier Fund [Member] | |
Managing owner contributions to the series of the trust | 1.00% |
Series Of Frontier Fund [Member] | Maximum [Member] | |
Assets normally invested in one or more trading companies | 70.00% |
Series Of Frontier Fund [Member] | Minimum [Member] | |
Assets normally invested in one or more trading companies | 30.00% |
Series Of Frontier Fund [Member] | Class 1 or Class 1A [Member] | |
Percentage of NAV charged as a service fees | 3.00% |
Amortized monthly annual rate | 3.00% |
Redemption fee | 3.00% |
Series Of Frontier Fund [Member] | Class 1, Class 1AP and Class 1A [Member] | |
Percentage of NAV charged as a service fees | 0.00% |
Series Of Frontier Fund [Member] | Class 2 [Member] | |
Service fee | 0.25% |
Series Of Frontier Fund [Member] | Class 2 and Class 2A [Member] | |
Service fee | 0.50% |
Service fee charged to limited owners | 0.25% |
Significant Accounting Polici_3
Significant Accounting Policies (Details Narrative) | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Series Of Frontier Fund [Member] | Minimum [Member] | ||
Gross income of the Trust constitutes qualifying income | 90.00% | |
Equinox Frontier Fund [Member] | ||
Interest allocated to each Series is paid to the Managing Owner | 20.00% | |
Equinox Frontier Fund [Member] | Minimum [Member] | ||
Gross income of the Trust constitutes qualifying income | 90.00% | |
Equinox Frontier Diversified Fund [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 20.00% | |
Equinox Frontier Diversified Fund [Member] | Maximum [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 20.00% | |
Equinox Frontier Heritage Fund [Member] | Maximum [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 2.00% | |
Equinox Frontier Masters Fund [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 20.00% | |
Equinox Frontier Masters Fund [Member] | Maximum [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 20.00% | |
Equinox Frontier Long/Short Commodity Fund [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 20.00% | |
Equinox Frontier Long/Short Commodity Fund [Member] | Maximum [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 20.00% | |
Equinox Frontier Winton Fund [Member] | Maximum [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 2.00% | |
Equinox Frontier Balanced Fund [Member] | Class 1A and Class 2A [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 20.00% | |
Equinox Frontier Balanced Fund [Member] | Class 1A, Class 2A and Class 3A [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 20.00% | |
Equinox Frontier Balanced Fund [Member] | Maximum [Member] | Class 1 and Class 2 [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 2.00% | |
Equinox Frontier Balanced Fund [Member] | Maximum [Member] | Class 1, Class 1AP and Class 2 [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 2.00% | |
Equinox Frontier Select Fund [Member] | Maximum [Member] | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 2.00% |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Swap Contracts | $ 18,908,412 | $ 21,208,838 |
U.S. Treasury Securities | 9,591,613 | 10,887,786 |
Equinox Frontier Diversified Fund [Member] | ||
Swap Contracts | 5,575,997 | 6,376,472 |
U.S. Treasury Securities | 938,408 | 767,049 |
Equinox Frontier Masters Fund [Member] | ||
U.S. Treasury Securities | 512,411 | 1,663,014 |
Equinox Frontier Long/Short Commodity Fund [Member] | ||
Swap Contracts | 471,942 | 397,039 |
U.S. Treasury Securities | 475,024 | 614,803 |
Equinox Frontier Balanced Fund [Member] | ||
Swap Contracts | 9,850,185 | 11,340,959 |
U.S. Treasury Securities | 1,515,106 | 663,808 |
Equinox Frontier Select Fund [Member] | ||
U.S. Treasury Securities | 330,422 | 464,427 |
Equinox Frontier Winton Fund [Member] | ||
U.S. Treasury Securities | 4,968,843 | 5,667,825 |
Equinox Frontier Heritage Fund [Member] | ||
Swap Contracts | 3,010,288 | 3,094,367 |
U.S. Treasury Securities | 851,399 | 1,046,861 |
Fair Value, Measurements, Recurring [Member] | ||
Open Trade Equity (Deficit) | 346,726 | 1,568,414 |
Swap Contracts | 18,908,412 | 21,208,838 |
U.S. Treasury Securities | 9,591,613 | 10,887,786 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Open Trade Equity (Deficit) | 645,197 | 1,145,940 |
Swap Contracts | ||
U.S. Treasury Securities | 9,591,613 | 10,887,786 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Open Trade Equity (Deficit) | (298,471) | 422,474 |
Swap Contracts | ||
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Open Trade Equity (Deficit) | ||
Swap Contracts | 18,908,412 | 21,208,838 |
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Diversified Fund [Member] | ||
Investment in Unconsolidated Trading Companies | 1,146,091 | 2,208,314 |
Swap Contracts | 5,575,997 | 6,376,472 |
U.S. Treasury Securities | 938,408 | 767,049 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Diversified Fund [Member] | Level 1 [Member] | ||
Investment in Unconsolidated Trading Companies | 1,169,987 | 2,152,721 |
Swap Contracts | ||
U.S. Treasury Securities | 938,408 | 767,049 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Diversified Fund [Member] | Level 2 [Member] | ||
Investment in Unconsolidated Trading Companies | (23,896) | 55,593 |
Swap Contracts | ||
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Diversified Fund [Member] | Level 3 [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | 5,575,997 | 6,376,472 |
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Masters Fund [Member] | ||
Investment in Unconsolidated Trading Companies | 969,945 | 1,492,193 |
U.S. Treasury Securities | 512,411 | 1,663,014 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Masters Fund [Member] | Level 1 [Member] | ||
Investment in Unconsolidated Trading Companies | 991,679 | 1,460,743 |
U.S. Treasury Securities | 512,411 | 1,663,014 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Masters Fund [Member] | Level 2 [Member] | ||
Investment in Unconsolidated Trading Companies | (21,734) | 31,450 |
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Masters Fund [Member] | Level 3 [Member] | ||
Investment in Unconsolidated Trading Companies | ||
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | ||
Investment in Unconsolidated Trading Companies | 99,860 | 121,510 |
Swap Contracts | 471,942 | 397,039 |
U.S. Treasury Securities | 475,024 | 614,803 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Level 1 [Member] | ||
Investment in Unconsolidated Trading Companies | 99,860 | 121,510 |
Swap Contracts | ||
U.S. Treasury Securities | 475,024 | 614,803 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Level 2 [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | ||
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | Level 3 [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | 471,942 | 397,039 |
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Balanced Fund [Member] | ||
Investment in Unconsolidated Trading Companies | 2,144,814 | 3,154,658 |
Open Trade Equity (Deficit) | (23,444) | 178,552 |
Swap Contracts | 9,850,185 | 11,340,959 |
U.S. Treasury Securities | 1,515,106 | 663,808 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Balanced Fund [Member] | Level 1 [Member] | ||
Investment in Unconsolidated Trading Companies | 2,190,822 | 3,072,933 |
Open Trade Equity (Deficit) | (23,444) | 144,983 |
Swap Contracts | ||
U.S. Treasury Securities | 1,515,106 | 663,808 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Balanced Fund [Member] | Level 2 [Member] | ||
Investment in Unconsolidated Trading Companies | (46,008) | 81,725 |
Open Trade Equity (Deficit) | 33,569 | |
Swap Contracts | ||
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Balanced Fund [Member] | Level 3 [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Open Trade Equity (Deficit) | ||
Swap Contracts | 9,850,185 | 11,340,959 |
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Select Fund [Member] | ||
Investment in Unconsolidated Trading Companies | 607,771 | 670,863 |
U.S. Treasury Securities | 330,422 | 464,427 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Select Fund [Member] | Level 1 [Member] | ||
Investment in Unconsolidated Trading Companies | 69,462 | 91,790 |
U.S. Treasury Securities | 330,422 | 464,427 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Select Fund [Member] | Level 2 [Member] | ||
Investment in Unconsolidated Trading Companies | ||
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Select Fund [Member] | Level 3 [Member] | ||
Investment in Unconsolidated Trading Companies | 538,309 | 579,073 |
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Winton Fund [Member] | ||
Investment in Unconsolidated Trading Companies | 5,010,792 | 7,934,536 |
U.S. Treasury Securities | 4,968,843 | 5,667,825 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Winton Fund [Member] | Level 1 [Member] | ||
Investment in Unconsolidated Trading Companies | 5,110,725 | 7,750,343 |
U.S. Treasury Securities | 4,968,843 | 5,667,825 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Winton Fund [Member] | Level 2 [Member] | ||
Investment in Unconsolidated Trading Companies | (99,932) | 184,193 |
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Winton Fund [Member] | Level 3 [Member] | ||
Investment in Unconsolidated Trading Companies | ||
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Heritage Fund [Member] | ||
Investment in Unconsolidated Trading Companies | 910,059 | 1,536,631 |
Swap Contracts | 3,010,288 | 3,094,367 |
U.S. Treasury Securities | 851,399 | 1,046,861 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Heritage Fund [Member] | Level 1 [Member] | ||
Investment in Unconsolidated Trading Companies | 928,475 | 1,500,688 |
Swap Contracts | ||
U.S. Treasury Securities | 851,399 | 1,046,861 |
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Heritage Fund [Member] | Level 2 [Member] | ||
Investment in Unconsolidated Trading Companies | (18,416) | 35,943 |
Swap Contracts | ||
U.S. Treasury Securities | ||
Fair Value, Measurements, Recurring [Member] | Equinox Frontier Heritage Fund [Member] | Level 3 [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | 3,010,288 | 3,094,367 |
U.S. Treasury Securities |
Fair Value Measurements (Deta_2
Fair Value Measurements (Details 2) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Swap [Member] | Level 3 [Member] | |||||
Balance of recurring Level 3 assets | $ 21,208,838 | $ 40,189,178 | $ 40,189,178 | ||
Included in earnings-unrealized | 799,575 | (402,290) | |||
Proceeds from collateral reduction | (3,100,000) | (18,578,050) | |||
Balance of recurring Level 3 assets | $ 18,908,412 | 18,908,412 | 21,208,838 | ||
Equinox Frontier Balanced Fund [Member] | |||||
Change in fair value of investments in unconsolidated trading companies | (49,118) | $ (63,498) | (105,602) | 373,803 | |
Equinox Frontier Balanced Fund [Member] | Swap [Member] | Level 3 [Member] | |||||
Balance of recurring Level 3 assets | 11,340,959 | 18,939,450 | 18,939,450 | ||
Included in earnings-unrealized | 509,226 | (84,491) | |||
Proceeds from collateral reduction | (2,000,000) | (7,514,000) | |||
Change in ownership allocation | |||||
Balance of recurring Level 3 assets | 9,850,185 | 9,850,185 | 11,340,959 | ||
Equinox Frontier Long/Short Commodity Fund [Member] | |||||
Change in fair value of investments in unconsolidated trading companies | (1,511) | 1,334 | 301 | (47,097) | |
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member] | Level 3 [Member] | |||||
Balance of recurring Level 3 assets | 397,039 | 4,220,468 | 4,220,468 | ||
Included in earnings-unrealized | 74,903 | 26,621 | |||
Proceeds from collateral reduction | (3,850,050) | ||||
Change in ownership allocation | |||||
Balance of recurring Level 3 assets | 471,942 | 471,942 | 397,039 | ||
Equinox Frontier Diversified Fund [Member] | |||||
Change in fair value of investments in unconsolidated trading companies | (36,144) | (32,229) | (40,546) | 311,775 | |
Equinox Frontier Diversified Fund [Member] | Swap [Member] | Level 3 [Member] | |||||
Balance of recurring Level 3 assets | 6,376,472 | 8,637,847 | 8,637,847 | ||
Included in earnings-unrealized | 299,525 | (47,375) | |||
Proceeds from collateral reduction | (1,100,000) | (2,214,000) | |||
Change in ownership allocation | |||||
Balance of recurring Level 3 assets | 5,575,997 | 5,575,997 | 6,376,472 | ||
Equinox Frontier Heritage Fund [Member] | |||||
Change in fair value of investments in unconsolidated trading companies | (20,832) | (36,791) | (22,800) | 170,930 | |
Equinox Frontier Heritage Fund [Member] | Swap [Member] | Level 3 [Member] | |||||
Balance of recurring Level 3 assets | 3,094,367 | 8,391,414 | 8,391,414 | ||
Included in earnings-unrealized | (84,079) | (297,047) | |||
Proceeds from collateral reduction | (5,000,000) | ||||
Change in ownership allocation | |||||
Balance of recurring Level 3 assets | 3,010,288 | 3,010,288 | 3,094,367 | ||
Equinox Frontier Select Fund [Member] | |||||
Change in fair value of investments in unconsolidated trading companies | 16,945 | $ (45,390) | 53,962 | 319,255 | |
Equinox Frontier Select Fund [Member] | Level 3 [Member] | Unconsolidated Trading Company [Member] | |||||
Balance of recurring Level 3 assets | 579,073 | $ 3,147,279 | 3,147,279 | ||
Change in fair value of investments in unconsolidated trading companies | (40,764) | (144,019) | |||
Change in ownership allocation | (2,424,187) | ||||
Balance of recurring Level 3 assets | $ 538,309 | $ 538,309 | $ 579,073 |
Fair Value Measurements (Deta_3
Fair Value Measurements (Details 3) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Swap [Member] | ||
Balance of recurring Level 3 assets Included in earnings-unrealized | $ 799,575 | $ (402,290) |
Equinox Frontier Diversified Fund [Member] | Swap [Member] | ||
Balance of recurring Level 3 assets Included in earnings-unrealized | 299,525 | (47,375) |
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member] | ||
Balance of recurring Level 3 assets Included in earnings-unrealized | 74,903 | 26,621 |
Equinox Frontier Balanced Fund [Member] | Swap [Member] | ||
Balance of recurring Level 3 assets Included in earnings-unrealized | 509,226 | (84,491) |
Equinox Frontier Heritage Fund [Member] | Swap [Member] | ||
Balance of recurring Level 3 assets Included in earnings-unrealized | (84,079) | (297,047) |
Equinox Frontier Select Fund [Member] | Investment In Unconsolidated Companies [Member] | ||
Balance of recurring Level 3 assets Included in earnings-unrealized | $ (40,765) | $ (144,019) |
Swap Contract (Details)
Swap Contract (Details) - Swap [Member] - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Change in Unrealized Gain/(Loss) | $ (788,755) | $ 663,203 | $ 799,575 | $ 94,319 | |
Equinox Frontier Balanced Fund [Member] | |||||
Change in Unrealized Gain/(Loss) | (620,424) | 356,572 | 509,226 | 420,488 | |
Equinox Frontier Balanced Fund [Member] | DeutscheBank AG [Member] | |||||
Notional Amount | 11,735,292 | $ 11,735,292 | $ 13,373,629 | ||
Termination Date | Mar. 31, 2023 | Aug. 2, 2018 | |||
Cash Collateral | 86,000 | $ 86,000 | $ 2,086,000 | ||
Swap Value | 9,764,185 | $ 9,764,185 | $ 9,254,959 | ||
Investee Returns | Total Returns | Total Returns | |||
Realized Gain/(Loss) | $ 0 | $ 0 | |||
Change in Unrealized Gain/(Loss) | 509,226 | (84,491) | |||
Fair Value | 9,850,185 | 9,850,185 | 11,340,959 | ||
Advance on swap appreciation | (4,926,555) | (4,926,555) | |||
Equinox Frontier Diversified Fund [Member] | |||||
Change in Unrealized Gain/(Loss) | (213,803) | 145,433 | 299,525 | 147,788 | |
Equinox Frontier Diversified Fund [Member] | DeutscheBank AG [Member] | |||||
Notional Amount | 3,054,369 | $ 3,054,369 | $ 4,651,155 | ||
Termination Date | Mar. 31, 2023 | Aug. 2, 2018 | |||
Cash Collateral | 86,000 | $ 86,000 | $ 1,186,000 | ||
Swap Value | 5,489,997 | $ 5,489,997 | $ 5,190,472 | ||
Investee Returns | Total Returns | Total Returns | |||
Realized Gain/(Loss) | $ 0 | $ 0 | |||
Change in Unrealized Gain/(Loss) | 299,525 | (47,375) | |||
Fair Value | 5,575,997 | 5,575,997 | 6,376,472 | ||
Advance on swap appreciation | (2,500,000) | (2,500,000) | |||
Equinox Frontier Long/Short Commodity Fund [Member] | |||||
Realized Gain/(Loss) | 39,017 | 50,384 | |||
Change in Unrealized Gain/(Loss) | 74,902 | 39,954 | |||
Equinox Frontier Long/Short Commodity Fund [Member] | DeutscheBank AG [Member] | |||||
Notional Amount | 653,610 | $ 653,610 | $ 653,610 | ||
Termination Date | Mar. 31, 2023 | Aug. 7, 2018 | |||
Cash Collateral | 29,950 | $ 29,950 | $ 29,950 | ||
Swap Value | 441,992 | $ 441,992 | $ 367,089 | ||
Investee Returns | Total Returns | Total Returns | |||
Realized Gain/(Loss) | $ 0 | $ 0 | |||
Change in Unrealized Gain/(Loss) | 74,903 | 26,621 | |||
Fair Value | 471,942 | 471,942 | 397,039 | ||
Advance on swap appreciation | (115,000) | (115,000) | |||
Equinox Frontier Heritage Fund [Member] | |||||
Change in Unrealized Gain/(Loss) | 6,454 | $ 110,814 | (84,079) | $ (513,913) | |
Equinox Frontier Heritage Fund [Member] | DeutscheBank AG [Member] | |||||
Notional Amount | 2,072,056 | $ 2,072,056 | $ 2,072,056 | ||
Termination Date | Mar. 27, 2023 | Mar. 26, 2018 | |||
Cash Collateral | 978,950 | $ 978,950 | $ 982,500 | ||
Swap Value | 2,031,338 | $ 2,031,338 | $ 2,111,867 | ||
Investee Returns | Total Returns | Total Returns | |||
Realized Gain/(Loss) | $ 0 | $ 0 | |||
Change in Unrealized Gain/(Loss) | (84,079) | (297,047) | |||
Fair Value | 3,010,288 | 3,010,288 | 3,094,367 | ||
Advance on swap appreciation | (1,900,000) | (1,900,000) | |||
XXXIV Balanced Select Swap [Member] | DeutscheBank AG [Member] | |||||
Notional Amount | 11,735,292 | $ 11,735,292 | $ 13,373,629 | ||
Termination Date | Mar. 31, 2023 | Aug. 2, 2018 | |||
Cash Collateral | 86,000 | $ 86,000 | $ 2,086,000 | ||
Swap Value | 9,764,185 | $ 9,764,185 | $ 9,254,959 | ||
Investee Returns | Total Returns | Total Returns | |||
Realized Gain/(Loss) | $ 0 | $ 0 | |||
Change in Unrealized Gain/(Loss) | 509,226 | (84,491) | |||
Fair Value | 9,850,185 | 9,850,185 | 11,340,959 | ||
Advance on swap appreciation | (4,926,555) | (4,926,555) | |||
XXXV Diversified Select Swap [Member] | DeutscheBank AG [Member] | |||||
Notional Amount | 3,054,369 | $ 3,054,369 | $ 4,651,155 | ||
Termination Date | Mar. 31, 2023 | Aug. 2, 2018 | |||
Cash Collateral | 86,000 | $ 86,000 | $ 1,186,000 | ||
Swap Value | 5,489,997 | $ 5,489,997 | $ 5,190,472 | ||
Investee Returns | Total Returns | Total Returns | |||
Realized Gain/(Loss) | $ 0 | $ 0 | |||
Change in Unrealized Gain/(Loss) | 299,525 | (47,375) | |||
Fair Value | 5,575,997 | 5,575,997 | 6,376,472 | ||
Advance on swap appreciation | (2,500,000) | (2,500,000) | |||
XXXVII L/S Select Swap [Member] | DeutscheBank AG [Member] | |||||
Notional Amount | 653,610 | $ 653,610 | $ 653,610 | ||
Termination Date | Mar. 31, 2023 | Aug. 7, 2018 | |||
Cash Collateral | 29,950 | $ 29,950 | $ 29,950 | ||
Swap Value | 441,992 | $ 441,992 | $ 367,089 | ||
Investee Returns | Total Returns | Total Returns | |||
Realized Gain/(Loss) | $ 0 | $ 0 | |||
Change in Unrealized Gain/(Loss) | 74,903 | 26,621 | |||
Fair Value | 471,942 | 471,942 | 397,039 | ||
Advance on swap appreciation | (115,000) | (115,000) | |||
XXXIX Brevan Howard [Member] | DeutscheBank AG [Member] | |||||
Notional Amount | 2,072,056 | $ 2,072,056 | $ 2,072,056 | ||
Termination Date | Mar. 27, 2023 | Mar. 26, 2018 | |||
Cash Collateral | 978,950 | $ 978,950 | $ 982,500 | ||
Swap Value | 2,031,338 | $ 2,031,338 | $ 2,111,867 | ||
Investee Returns | Total Returns | Total Returns | |||
Realized Gain/(Loss) | $ 0 | $ 0 | |||
Change in Unrealized Gain/(Loss) | (84,079) | (297,047) | |||
Fair Value | $ 3,010,288 | 3,010,288 | 3,094,367 | ||
Advance on swap appreciation | $ (1,900,000) | $ (1,900,000) |
Investments in Unconsolidated_3
Investments in Unconsolidated Trading Companies and Private Investment Companies (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Equinox Frontier Diversified Fund [Member] | ||
Investments in unconsolidated trading companies, at fair value | $ 1,146,091 | $ 2,225,210 |
Equinox Frontier Diversified Fund [Member] | Frontier Trading Companies II and XXXVIII [Member] | ||
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies | 6.76% | 10.37% |
Investments in unconsolidated trading companies, at fair value | $ 1,146,091 | $ 2,225,210 |
Equinox Frontier Masters Fund [Member] | ||
Investments in unconsolidated trading companies, at fair value | $ 969,945 | $ 1,501,142 |
Equinox Frontier Masters Fund [Member] | Frontier Trading Companies II and XXXVIII [Member] | ||
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies | 14.28% | 12.55% |
Investments in unconsolidated trading companies, at fair value | $ 969,945 | $ 1,501,142 |
Equinox Frontier Long/Short Commodity Fund [Member] | ||
Investments in unconsolidated trading companies, at fair value | $ 99,860 | $ 121,510 |
Equinox Frontier Long/Short Commodity Fund [Member] | Frontier Trading Company XXXVIII [Member] | ||
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies | 3.32% | 2.86% |
Investments in unconsolidated trading companies, at fair value | $ 99,860 | $ 121,510 |
Equinox Frontier Balanced Fund [Member] | ||
Investments in unconsolidated trading companies, at fair value | $ 2,144,814 | $ 3,178,176 |
Equinox Frontier Balanced Fund [Member] | Frontier Trading Companies II and XXXVIII [Member] | ||
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies | 6.13% | 6.59% |
Investments in unconsolidated trading companies, at fair value | $ 2,144,814 | $ 3,178,176 |
Equinox Frontier Select Fund [Member] | ||
Investments in unconsolidated trading companies, at fair value | $ 607,771 | $ 670,863 |
Equinox Frontier Select Fund [Member] | Frontier Trading Companies XXXVIII and XXXIX [Member] | ||
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies | 13.82% | 9.86% |
Investments in unconsolidated trading companies, at fair value | $ 607,771 | $ 670,863 |
Equinox Frontier Winton Fund [Member] | ||
Investments in unconsolidated trading companies, at fair value | $ 5,010,792 | $ 7,987,575 |
Equinox Frontier Winton Fund [Member] | Frontier Trading Companies II and XXXVIII [Member] | ||
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies | 48.77% | 53.79% |
Investments in unconsolidated trading companies, at fair value | $ 5,010,792 | $ 7,987,575 |
Equinox Frontier Heritage Fund [Member] | ||
Investments in unconsolidated trading companies, at fair value | $ 910,059 | $ 1,546,974 |
Equinox Frontier Heritage Fund [Member] | Frontier Trading Companies II and XXXVIII [Member] | ||
Percentage of Series Net Assets Invested in Unconsolidated Trading Companies | 18.25% | 22.66% |
Investments in unconsolidated trading companies, at fair value | $ 910,059 | $ 1,536,631 |
Investments in Unconsolidated_4
Investments in Unconsolidated Trading Companies and Private Investment Companies (Details 2) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Trading Commissions | $ (536,503) | $ (816,697) | $ (2,115,347) | $ (5,421,084) |
Realized Gain/(Loss) | 1,083,414 | (543,371) | (4,462,044) | 12,430,757 |
Change in Unrealized Gain/(Loss) | (1,454,761) | 601,928 | (1,713,225) | (6,236,677) |
Net Income (Loss) | (907,850) | (758,140) | (8,290,616) | 772,996 |
Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | ||||
Trading Commissions | (13,448) | (27,526) | (81,572) | (111,211) |
Realized Gain/(Loss) | (89,558) | (83,578) | (372,395) | (720,482) |
Change in Unrealized Gain/(Loss) | 130,963 | 219,283 | 140,200 | 247,580 |
Net Income (Loss) | 27,957 | 108,179 | (313,767) | (584,113) |
Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | ||||
Trading Commissions | (21,883) | (29,346) | (72,912) | (116,596) |
Realized Gain/(Loss) | 61,611 | 63,445 | (167,998) | 304,648 |
Change in Unrealized Gain/(Loss) | (36,452) | 2,935 | (34,229) | (53,120) |
Net Income (Loss) | 3,276 | 37,034 | (275,139) | 134,932 |
Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (178,875) | (222,560) | (700,233) | (1,330,361) |
Realized Gain/(Loss) | 1,104,050 | 1,811,488 | 2,033,337 | 4,599,674 |
Change in Unrealized Gain/(Loss) | (1,538,861) | (935,550) | (1,717,641) | 304,067 |
Net Income (Loss) | (613,686) | 653,378 | (384,537) | 3,573,380 |
Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | ||||
Trading Commissions | (804) | (570,790) | ||
Realized Gain/(Loss) | (2,947) | (62) | (2,947) | |
Change in Unrealized Gain/(Loss) | (97,339) | (344,286) | (152,150) | (1,389,486) |
Net Income (Loss) | (97,339) | (347,233) | (153,016) | (1,963,223) |
Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | ||||
Trading Commissions | (59,105) | (90,999) | (174,274) | (1,822,201) |
Realized Gain/(Loss) | (298,023) | (1,103,456) | (1,242,377) | 5,221,007 |
Change in Unrealized Gain/(Loss) | 45,680 | 1,092,377 | 108,280 | 393,843 |
Net Income (Loss) | (311,448) | (102,078) | (1,308,371) | 3,792,649 |
Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC [Member] | ||||
Trading Commissions | (18,549) | (56,647) | (118,457) | (346,240) |
Realized Gain/(Loss) | 55,948 | (291,572) | (42,689) | 498,355 |
Change in Unrealized Gain/(Loss) | (8,557) | (938) | 9,173 | 339,271 |
Net Income (Loss) | 28,842 | (349,157) | (151,973) | 491,386 |
Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | ||||
Trading Commissions | (14,086) | (17,531) | (43,536) | (85,937) |
Realized Gain/(Loss) | (92,604) | (39,564) | (175,750) | 2,436,910 |
Change in Unrealized Gain/(Loss) | 13,074 | 29,219 | 19,406 | (3,127,619) |
Net Income (Loss) | (93,616) | (27,876) | (199,880) | (776,646) |
Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (171,382) | (297,366) | (715,002) | (601,695) |
Realized Gain/(Loss) | 119,936 | (732,794) | (4,340,773) | (1,507,427) |
Change in Unrealized Gain/(Loss) | 183,815 | 413,322 | 379,408 | (798,914) |
Net Income (Loss) | 132,369 | (616,838) | (4,676,367) | (2,908,036) |
Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | ||||
Trading Commissions | (39,323) | (134,728) | (26,272) | |
Realized Gain/(Loss) | 187,011 | 39,795 | 455,907 | |
Change in Unrealized Gain/(Loss) | 46,880 | (244,467) | (286,272) | (1,826,328) |
Net Income (Loss) | 194,568 | (244,467) | (381,205) | (1,396,693) |
Galaxy Plus Fund - Chesapeake Feeder Fund (518) [Member] | ||||
Trading Commissions | (22,467) | (188,852) | ||
Realized Gain/(Loss) | 51,664 | (76,396) | (364,753) | |
Change in Unrealized Gain/(Loss) | (95,593) | 68,413 | 528,870 | |
Net Income (Loss) | (66,396) | (7,983) | (24,735) | |
Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | ||||
Trading Commissions | (19,852) | (52,255) | (73,829) | (220,929) |
Realized Gain/(Loss) | 35,043 | (216,057) | (116,736) | 1,509,865 |
Change in Unrealized Gain/(Loss) | 62,055 | 556,885 | 81,270 | (59,134) |
Net Income (Loss) | 77,246 | 288,573 | (109,295) | 1,229,802 |
Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | (256,019) | (91,259) | (329,083) | (795,707) |
Net Income (Loss) | (256,019) | (91,259) | (329,083) | (795,707) |
Equinox Frontier Diversified Fund [Member] | ||||
Trading Commissions | (118,626) | (214,239) | (434,830) | (1,767,430) |
Realized Gain/(Loss) | 168,622 | (460,268) | (973,959) | 5,313,235 |
Change in Unrealized Gain/(Loss) | (231,146) | 600,389 | (222,715) | (2,497,081) |
Net Income (Loss) | (181,150) | (74,118) | (1,631,504) | 1,048,724 |
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company II LLC [Member] | ||||
Trading Commissions | (34,961) | |||
Realized Gain/(Loss) | 156,232 | |||
Change in Unrealized Gain/(Loss) | 34,017 | 29,203 | 40,239 | (215,541) |
Net Income (Loss) | 34,017 | 29,203 | 40,239 | (94,270) |
Equinox Frontier Diversified Fund [Member] | Frontier Trading Company XXXVIII ,LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 2,127 | 3,026 | 307 | (217,505) |
Net Income (Loss) | 2,127 | 3,026 | 307 | (217,505) |
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | ||||
Trading Commissions | (4,157) | (8,281) | (25,766) | (47,202) |
Realized Gain/(Loss) | (23,653) | (26,711) | (94,474) | (275,640) |
Change in Unrealized Gain/(Loss) | 34,404 | 65,961 | 36,713 | 107,879 |
Net Income (Loss) | 6,594 | 30,969 | (83,527) | (214,963) |
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC [Member] | ||||
Trading Commissions | (5,529) | (57,740) | ||
Realized Gain/(Loss) | 14,423 | (282,402) | ||
Change in Unrealized Gain/(Loss) | (32,526) | 368,874 | ||
Net Income (Loss) | (23,632) | 28,732 | ||
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | ||||
Trading Commissions | (9,004) | (11,301) | (28,732) | (48,192) |
Realized Gain/(Loss) | 22,242 | 21,985 | (48,799) | 115,185 |
Change in Unrealized Gain/(Loss) | (13,179) | 865 | (12,067) | (20,362) |
Net Income (Loss) | 59 | 11,549 | (89,598) | 46,631 |
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (39,614) | (41,460) | (127,929) | (372,907) |
Realized Gain/(Loss) | 258,878 | 371,152 | 449,134 | 1,308,793 |
Change in Unrealized Gain/(Loss) | (358,841) | (187,157) | (404,314) | 157,823 |
Net Income (Loss) | (139,577) | 142,535 | (83,109) | 1,093,709 |
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - FORT Global Managed Futures Feeder Fund (510) LLC [Member] | ||||
Trading Commissions | (9,027) | (15,109) | (28,612) | (86,543) |
Realized Gain/(Loss) | 10,939 | (55,000) | (2,139) | 613,006 |
Change in Unrealized Gain/(Loss) | 20,972 | 140,263 | 29,425 | (32,023) |
Net Income (Loss) | 22,884 | 70,154 | (1,326) | 494,440 |
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | (15) | (62) | (15) | |
Change in Unrealized Gain/(Loss) | (2,350) | (93,042) | 1,592 | (379,526) |
Net Income (Loss) | (2,350) | (93,057) | 1,530 | (379,541) |
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | ||||
Trading Commissions | (20,929) | (38,315) | (62,615) | (716,264) |
Realized Gain/(Loss) | (92,636) | (410,394) | (428,811) | 2,120,108 |
Change in Unrealized Gain/(Loss) | 16,282 | 402,029 | 18,024 | (618) |
Net Income (Loss) | (97,283) | (46,680) | (473,402) | 1,403,226 |
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC [Member] | ||||
Trading Commissions | (8,047) | (25,622) | (45,287) | (170,681) |
Realized Gain/(Loss) | 17,990 | (105,994) | (7,954) | 290,815 |
Change in Unrealized Gain/(Loss) | (2,619) | (426) | 2,742 | 121,852 |
Net Income (Loss) | 7,324 | (132,042) | (50,499) | 241,986 |
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | ||||
Trading Commissions | (7,511) | (10,292) | (23,108) | (65,209) |
Realized Gain/(Loss) | (46,302) | (25,052) | (89,102) | 1,793,033 |
Change in Unrealized Gain/(Loss) | 6,537 | 26,393 | 9,703 | (2,309,045) |
Net Income (Loss) | (47,276) | (8,951) | (102,507) | (581,221) |
Equinox Frontier Diversified Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (20,337) | (58,330) | (92,781) | (167,731) |
Realized Gain/(Loss) | 21,164 | (244,662) | (751,752) | (525,880) |
Change in Unrealized Gain/(Loss) | 31,504 | 245,800 | 54,921 | (78,889) |
Net Income (Loss) | 32,331 | (57,192) | (789,612) | (772,500) |
Frontier Masters Fund [Member] | ||||
Trading Commissions | (101,521) | (130,197) | (398,100) | (517,154) |
Realized Gain/(Loss) | 348,151 | 307,155 | (280,134) | 876,839 |
Change in Unrealized Gain/(Loss) | (279,775) | (277,688) | (557,995) | (1,273,450) |
Net Income (Loss) | (33,145) | (100,730) | (1,236,229) | (913,765) |
Frontier Masters Fund [Member] | Frontier Trading Company II LLC [Member] | ||||
Trading Commissions | 25,034 | |||
Realized Gain/(Loss) | 91,810 | |||
Change in Unrealized Gain/(Loss) | (4,703) | 36,130 | (99,255) | (254,854) |
Net Income (Loss) | (4,703) | 36,130 | (99,255) | (138,010) |
Frontier Masters Fund [Member] | Frontier Trading Company XXXVIII ,LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 3,100 | (4,657) | 20,318 | (108,362) |
Net Income (Loss) | 3,100 | (4,657) | 20,318 | (108,362) |
Frontier Masters Fund [Member] | Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC [Member] | ||||
Trading Commissions | (11,827) | (81,868) | ||
Realized Gain/(Loss) | 27,230 | (76,396) | (54,404) | |
Change in Unrealized Gain/(Loss) | (47,312) | 68,413 | 103,126 | |
Net Income (Loss) | (31,909) | (7,983) | (33,146) | |
Frontier Masters Fund [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (51,154) | (62,543) | (200,364) | (287,707) |
Realized Gain/(Loss) | 235,343 | 419,529 | 498,398 | 937,794 |
Change in Unrealized Gain/(Loss) | (326,220) | (214,880) | (429,904) | 43,617 |
Net Income (Loss) | (142,031) | 142,106 | (131,870) | 693,704 |
Frontier Masters Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (32,744) | (55,827) | (132,925) | (89,695) |
Realized Gain/(Loss) | 17,636 | (139,604) | (709,314) | (176,476) |
Change in Unrealized Gain/(Loss) | 26,253 | 81,403 | 39,893 | (192,207) |
Net Income (Loss) | 11,145 | (114,028) | (802,346) | (458,378) |
Frontier Masters Fund [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | ||||
Trading Commissions | (17,623) | (64,811) | ||
Realized Gain/(Loss) | 95,172 | 7,178 | ||
Change in Unrealized Gain/(Loss) | 21,795 | (128,372) | (157,460) | (749,376) |
Net Income (Loss) | 99,344 | (128,372) | (215,093) | (749,376) |
Frontier Masters Fund [Member] | Frontier Trading Company XV, LLC [Member] | ||||
Trading Commissions | (82,918) | |||
Realized Gain/(Loss) | 78,115 | |||
Change in Unrealized Gain/(Loss) | (115,394) | |||
Net Income (Loss) | (120,197) | |||
Frontier Long/Short Commodity Fund [Member] | ||||
Trading Commissions | (34,720) | (73,694) | (135,557) | (900,877) |
Realized Gain/(Loss) | 90,720 | 158,882 | (39,267) | 516,107 |
Change in Unrealized Gain/(Loss) | (199,453) | (61,713) | (286,547) | 99,129 |
Net Income (Loss) | (143,453) | 23,475 | (461,371) | (285,641) |
Frontier Long/Short Commodity Fund [Member] | Frontier Trading Company XXXVIII ,LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 1,511 | (1,334) | (301) | 48,430 |
Net Income (Loss) | 1,511 | (1,334) | (301) | 48,430 |
Frontier Long/Short Commodity Fund [Member] | Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC [Member] | ||||
Trading Commissions | (5,111) | (49,244) | ||
Realized Gain/(Loss) | 10,011 | (27,947) | ||
Change in Unrealized Gain/(Loss) | (15,755) | 56,870 | ||
Net Income (Loss) | (10,855) | (20,321) | ||
Frontier Long/Short Commodity Fund [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (19,658) | (37,912) | (75,198) | (219,046) |
Realized Gain/(Loss) | 84,795 | 210,831 | 191,295 | 608,857 |
Change in Unrealized Gain/(Loss) | (121,669) | (102,127) | (164,749) | 93,673 |
Net Income (Loss) | (56,532) | 70,792 | (48,652) | 483,484 |
Frontier Long/Short Commodity Fund [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | ||||
Trading Commissions | (681) | (570,790) | ||
Realized Gain/(Loss) | (2,869) | (2,869) | ||
Change in Unrealized Gain/(Loss) | (90,105) | 5,305 | (145,612) | 5,305 |
Net Income (Loss) | (90,105) | 2,436 | (146,293) | (568,354) |
Frontier Long/Short Commodity Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (15,062) | (30,671) | (59,678) | (61,797) |
Realized Gain/(Loss) | 5,925 | (59,091) | (230,562) | (61,934) |
Change in Unrealized Gain/(Loss) | 10,810 | 52,198 | 24,115 | (105,149) |
Net Income (Loss) | 1,673 | (37,564) | (266,125) | (228,880) |
Frontier Balanced Fund [Member] | ||||
Trading Commissions | (194,782) | (333,191) | (822,495) | (2,269,567) |
Realized Gain/(Loss) | 355,161 | (668,042) | (2,121,678) | 5,692,375 |
Change in Unrealized Gain/(Loss) | (476,310) | 1,026,230 | (227,908) | (1,761,279) |
Net Income (Loss) | (315,931) | 24,997 | (3,172,081) | 1,661,529 |
Frontier Balanced Fund [Member] | Frontier Trading Company II LLC [Member] | ||||
Trading Commissions | (32,747) | |||
Realized Gain/(Loss) | 216,451 | |||
Change in Unrealized Gain/(Loss) | 46,550 | 72,519 | 114,510 | (342,327) |
Net Income (Loss) | 46,550 | 72,519 | 114,510 | (158,623) |
Frontier Balanced Fund [Member] | Frontier Trading Company XXXVIII ,LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 2,568 | (9,021) | (8,908) | (215,180) |
Net Income (Loss) | 2,568 | (9,021) | (8,908) | (215,180) |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | ||||
Trading Commissions | (9,291) | (19,245) | (53,188) | (64,009) |
Realized Gain/(Loss) | (65,905) | (56,867) | (277,921) | (444,842) |
Change in Unrealized Gain/(Loss) | 96,559 | 153,322 | 103,487 | 139,701 |
Net Income (Loss) | 21,363 | 77,210 | (227,622) | (369,150) |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | ||||
Trading Commissions | (12,879) | (18,045) | (44,264) | (68,404) |
Realized Gain/(Loss) | 39,369 | 41,460 | (119,199) | 189,463 |
Change in Unrealized Gain/(Loss) | (23,273) | 2,070 | (22,162) | (32,758) |
Net Income (Loss) | 3,217 | 25,485 | (185,625) | 88,301 |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (68,449) | (80,645) | (296,953) | (450,701) |
Realized Gain/(Loss) | 525,034 | 809,976 | 894,510 | 1,744,230 |
Change in Unrealized Gain/(Loss) | (732,131) | (431,386) | (718,674) | 8,954 |
Net Income (Loss) | (275,546) | 297,945 | (121,117) | 1,302,483 |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - FORT Global Managed Futures Feeder Fund (510) LLC [Member] | ||||
Trading Commissions | (10,825) | (37,146) | (47,185) | (134,386) |
Realized Gain/(Loss) | 24,104 | (161,057) | (114,597) | 896,859 |
Change in Unrealized Gain/(Loss) | 41,083 | 416,622 | 51,845 | (27,111) |
Net Income (Loss) | 54,362 | 218,419 | (109,937) | 735,362 |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | ||||
Trading Commissions | (123) | |||
Realized Gain/(Loss) | (63) | (63) | ||
Change in Unrealized Gain/(Loss) | (4,884) | (256,549) | (8,469) | (1,015,265) |
Net Income (Loss) | (4,884) | (256,612) | (8,592) | (1,015,328) |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | ||||
Trading Commissions | (38,176) | (52,684) | (111,704) | (1,105,937) |
Realized Gain/(Loss) | (205,387) | (693,062) | (813,565) | 3,100,899 |
Change in Unrealized Gain/(Loss) | 29,398 | 690,348 | 90,256 | 394,461 |
Net Income (Loss) | (214,165) | (55,398) | (835,013) | 2,389,423 |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC [Member] | ||||
Trading Commissions | (10,502) | (31,025) | (73,053) | (175,559) |
Realized Gain/(Loss) | 37,958 | (185,578) | (34,735) | 207,540 |
Change in Unrealized Gain/(Loss) | (5,938) | (512) | 6,431 | 217,419 |
Net Income (Loss) | 21,518 | (217,115) | (101,357) | 249,400 |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | ||||
Trading Commissions | (6,575) | (7,239) | (20,503) | (20,728) |
Realized Gain/(Loss) | (46,302) | (14,512) | (88,994) | 643,877 |
Change in Unrealized Gain/(Loss) | 6,537 | 2,826 | 9,703 | (818,574) |
Net Income (Loss) | (46,340) | (18,925) | (99,794) | (195,425) |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (38,085) | (87,162) | (175,522) | (217,096) |
Realized Gain/(Loss) | 46,290 | (408,339) | (1,567,177) | (862,039) |
Change in Unrealized Gain/(Loss) | 67,221 | 385,991 | 154,073 | (70,599) |
Net Income (Loss) | 75,426 | (109,510) | (1,588,626) | (1,149,734) |
Frontier Select Fund [Member] | ||||
Trading Commissions | (53,665) | (35,396) | (195,460) | (61,668) |
Realized Gain/(Loss) | 105,769 | 67,150 | (513,933) | 523,057 |
Change in Unrealized Gain/(Loss) | 33,852 | (280,234) | (143,435) | (1,605,736) |
Net Income (Loss) | 85,956 | (248,480) | (852,828) | (966,572) |
Frontier Select Fund [Member] | Frontier Trading Company XXXVIII ,LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | (20,172) | (8,337) | (15,611) | (70,090) |
Net Income (Loss) | (20,172) | (8,337) | (15,611) | (70,092) |
Frontier Select Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (31,965) | (112,056) | (35,396) | |
Realized Gain/(Loss) | 13,930 | (80,517) | 67,150 | |
Change in Unrealized Gain/(Loss) | 25,712 | (209,529) | (182,320) | (209,529) |
Net Income (Loss) | 7,677 | (209,529) | (374,893) | (177,775) |
Frontier Select Fund [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | ||||
Trading Commissions | (21,700) | (35,396) | (83,404) | (26,272) |
Realized Gain/(Loss) | 91,839 | 67,150 | (433,416) | 455,907 |
Change in Unrealized Gain/(Loss) | 25,085 | (116,095) | 92,847 | (1,076,952) |
Net Income (Loss) | 95,224 | (84,341) | (423,973) | (647,317) |
Frontier Select Fund [Member] | Frontier Trading Company XXXIX, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 3,227 | 53,727 | (38,351) | (249,165) |
Net Income (Loss) | 3,227 | 53,727 | (38,351) | (249,163) |
Frontier Winton Fund [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 156,865 | (31,155) | (95,896) | (334,372) |
Net Income (Loss) | 156,865 | (31,155) | (95,896) | (334,372) |
Frontier Winton Fund [Member] | Frontier Trading Company II LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 2,568 | (183,988) | ||
Net Income (Loss) | 2,568 | (183,988) | ||
Frontier Winton Fund [Member] | Frontier Trading Company XXXVIII ,LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 154,297 | (31,155) | 88,092 | (334,372) |
Net Income (Loss) | 154,297 | (31,155) | 88,092 | (334,372) |
Frontier Heritage Fund [Member] | ||||
Trading Commissions | (33,189) | (29,980) | (128,567) | (91,543) |
Realized Gain/(Loss) | 14,991 | 51,752 | (535,418) | 165,334 |
Change in Unrealized Gain/(Loss) | 43,147 | (105,750) | 89,867 | (365,490) |
Net Income (Loss) | 24,949 | (83,978) | (574,118) | (291,699) |
Frontier Heritage Fund [Member] | Frontier Trading Company II LLC [Member] | ||||
Trading Commissions | (61,563) | |||
Realized Gain/(Loss) | 113,582 | |||
Change in Unrealized Gain/(Loss) | 19,781 | 46,789 | 26,444 | (118,339) |
Net Income (Loss) | 19,781 | 46,789 | 26,444 | (66,320) |
Frontier Heritage Fund [Member] | Frontier Trading Company XXXVIII ,LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 1,051 | (9,998) | (3,644) | (104,610) |
Net Income (Loss) | 1,051 | (9,998) | (3,644) | (104,610) |
Frontier Heritage Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (33,189) | (29,980) | (128,567) | (29,980) |
Realized Gain/(Loss) | 14,991 | 51,752 | (535,418) | 51,752 |
Change in Unrealized Gain/(Loss) | 22,315 | (142,541) | 67,067 | (142,541) |
Net Income (Loss) | $ 4,117 | $ (120,769) | $ (596,918) | $ (120,769) |
Transactions with Affiliates (D
Transactions with Affiliates (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Incentive Fee | $ 10,897 | $ 159,306 | $ (205,571) | |
Management Fee | 189,058 | 297,987 | 650,179 | 1,263,162 |
Trading Fee | 733,788 | 1,080,095 | 2,366,003 | 4,206,610 |
Managing Owner [Member] | ||||
Incentive Fee | 10,897 | 159,306 | (205,571) | |
Management Fee | 189,058 | 297,987 | 650,179 | 1,263,162 |
Service Fee | 387,003 | 556,766 | 1,264,101 | 1,989,777 |
Trading Fee | 733,788 | 1,080,095 | 2,366,003 | 4,206,610 |
Equinox Frontier Diversified Fund [Member] | ||||
Incentive Fee | 10,897 | |||
Management Fee | 13,113 | 13,509 | 37,905 | 69,251 |
Trading Fee | 145,750 | 221,452 | 454,513 | 1,154,233 |
Equinox Frontier Diversified Fund [Member] | Managing Owner [Member] | ||||
Incentive Fee | 10,897 | 12,778 | (63,508) | |
Management Fee | 13,113 | 13,509 | 37,905 | 69,251 |
Service Fee | 14,432 | 24,584 | 45,236 | 110,769 |
Trading Fee | 145,750 | 221,452 | 454,513 | 1,154,233 |
Equinox Frontier Masters Fund [Member] | ||||
Management Fee | 22,605 | 26,862 | 83,816 | 150,767 |
Service Fee | 39,503 | |||
Trading Fee | 95,225 | 151,229 | 335,271 | 527,813 |
Equinox Frontier Masters Fund [Member] | Managing Owner [Member] | ||||
Incentive Fee | ||||
Management Fee | 22,605 | 26,862 | 83,816 | 150,767 |
Service Fee | 11,605 | 19,585 | 39,503 | 72,519 |
Trading Fee | 95,225 | 151,229 | 335,271 | 527,813 |
Equinox Frontier Long/Short Commodity Fund [Member] | ||||
Trading Fee | 19,318 | 40,897 | 65,530 | 183,990 |
Equinox Frontier Long/Short Commodity Fund [Member] | Managing Owner [Member] | ||||
Incentive Fee | (87,670) | |||
Management Fee | ||||
Service Fee | 334 | 1,867 | 1,398 | 12,838 |
Trading Fee | 19,318 | 40,897 | 65,530 | 183,990 |
Equinox Frontier Balanced Fund [Member] | ||||
Incentive Fee | 145,134 | |||
Management Fee | 26,643 | 25,760 | 69,545 | 102,297 |
Trading Fee | 339,537 | 462,275 | 1,068,482 | 1,625,446 |
Equinox Frontier Balanced Fund [Member] | Managing Owner [Member] | ||||
Incentive Fee | 145,134 | |||
Management Fee | 26,643 | 25,760 | 69,545 | 102,297 |
Service Fee | 222,302 | 323,572 | 723,093 | 1,106,847 |
Trading Fee | 339,537 | 462,275 | 1,068,482 | 1,625,446 |
Equinox Frontier Select Fund [Member] | ||||
Management Fee | 102,047 | |||
Trading Fee | 27,076 | 39,673 | 92,779 | 137,940 |
Equinox Frontier Select Fund [Member] | Managing Owner [Member] | ||||
Incentive Fee | ||||
Management Fee | 102,047 | |||
Service Fee | 32,149 | 46,479 | 105,111 | 176,247 |
Trading Fee | 27,076 | 39,673 | 92,779 | 137,940 |
Equinox Frontier Winton Fund [Member] | ||||
Incentive Fee | (49,790) | |||
Management Fee | 104,062 | 188,835 | 366,404 | 677,921 |
Trading Fee | 73,379 | 127,661 | 236,657 | 431,025 |
Equinox Frontier Winton Fund [Member] | Managing Owner [Member] | ||||
Incentive Fee | (49,790) | |||
Management Fee | 104,062 | 188,835 | 366,404 | 677,921 |
Service Fee | 76,839 | 99,725 | 252,006 | 368,816 |
Trading Fee | 73,379 | 127,661 | 236,657 | 431,025 |
Equinox Frontier Heritage Fund [Member] | ||||
Incentive Fee | 1,394 | (4,603) | ||
Management Fee | 22,635 | 43,021 | 92,509 | 160,879 |
Trading Fee | 33,624 | 36,907 | 112,771 | $ 146,164 |
Equinox Frontier Heritage Fund [Member] | Managing Owner [Member] | ||||
Incentive Fee | 1,394 | |||
Management Fee | 22,635 | 43,021 | 92,509 | |
Service Fee | 29,343 | 40,954 | 97,753 | |
Trading Fee | $ 33,624 | $ 36,907 | $ 112,771 |
Transactions with Affiliates _2
Transactions with Affiliates (Details 2) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Incentive Fees | $ 10,897 | $ 53,036 |
Management Fees | 79,601 | 90,972 |
Trading Fees | 456,734 | 334,485 |
Managing Owner [Member] | ||
Incentive Fees | 10,897 | 53,036 |
Management Fees | 79,601 | 90,972 |
Interest Fees | 22,088 | 26,007 |
Service Fees | 238,073 | 148,445 |
Trading Fees | 456,734 | 334,485 |
Equinox Frontier Diversified Fund [Member] | ||
Incentive Fees | 10,897 | 12,847 |
Management Fees | 8,244 | 4,049 |
Trading Fees | 47,283 | 61,188 |
Equinox Frontier Diversified Fund [Member] | Managing Owner [Member] | ||
Incentive Fees | 10,897 | 12,847 |
Management Fees | 8,244 | 4,049 |
Interest Fees | ||
Service Fees | 4,552 | 3,614 |
Trading Fees | 47,283 | 61,188 |
Equinox Frontier Masters Fund [Member] | ||
Management Fees | 7,494 | 8,949 |
Trading Fees | 32,173 | 49,131 |
Equinox Frontier Masters Fund [Member] | Managing Owner [Member] | ||
Incentive Fees | ||
Management Fees | 7,494 | 8,949 |
Interest Fees | ||
Service Fees | 2,625 | 3,570 |
Trading Fees | 32,173 | 49,131 |
Equinox Frontier Long/Short Commodity Fund [Member] | ||
Trading Fees | 6,259 | 9,125 |
Equinox Frontier Long/Short Commodity Fund [Member] | Managing Owner [Member] | ||
Incentive Fees | ||
Management Fees | ||
Interest Fees | 44 | 103 |
Service Fees | 66 | 172 |
Trading Fees | 6,259 | 9,125 |
Equinox Frontier Balanced Fund [Member] | ||
Incentive Fees | 40,189 | |
Management Fees | 23,019 | 11,465 |
Trading Fees | 108,152 | 140,868 |
Equinox Frontier Balanced Fund [Member] | Managing Owner [Member] | ||
Incentive Fees | 40,189 | |
Management Fees | 23,019 | 11,465 |
Interest Fees | 3,591 | 2,528 |
Service Fees | 61,951 | 88,149 |
Trading Fees | 108,152 | 140,868 |
Equinox Frontier Select Fund [Member] | ||
Trading Fees | 8,530 | 14,898 |
Equinox Frontier Select Fund [Member] | Managing Owner [Member] | ||
Incentive Fees | ||
Management Fees | ||
Interest Fees | 765 | 1,358 |
Service Fees | 7,750 | 14,743 |
Trading Fees | 8,530 | 14,898 |
Equinox Frontier Winton Fund [Member] | ||
Management Fees | 34,474 | 53,039 |
Trading Fees | 23,696 | 43,573 |
Equinox Frontier Winton Fund [Member] | Managing Owner [Member] | ||
Incentive Fees | ||
Management Fees | 34,474 | 53,039 |
Interest Fees | 15,770 | 20,992 |
Service Fees | 20,813 | 26,714 |
Trading Fees | 23,696 | 43,573 |
Equinox Frontier Heritage Fund [Member] | ||
Management Fees | 6,370 | 13,471 |
Trading Fees | 11,980 | 15,703 |
Equinox Frontier Heritage Fund [Member] | Managing Owner [Member] | ||
Incentive Fees | ||
Management Fees | 6,370 | 13,471 |
Interest Fees | 1,918 | 2,608 |
Service Fees | 10,001 | 11,483 |
Trading Fees | $ 11,980 | $ 15,703 |
Transactions with Affiliates _3
Transactions with Affiliates (Details 3) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Gross amount paid to the managing owner | $ 124,430 | $ 349,196 | ||
Equinox Frontier Diversified Fund [Member] | Class 1 [Member] | ||||
Gross amount paid to the managing owner | $ (3,860) | |||
Ratio to average net assets | 0.00% | 0.00% | 0.00% | (0.10%) |
Equinox Frontier Diversified Fund [Member] | Class 2 [Member] | ||||
Gross amount paid to the managing owner | $ (19,555) | |||
Ratio to average net assets | 0.00% | 0.00% | 0.00% | (0.07%) |
Equinox Frontier Diversified Fund [Member] | Class 3 [Member] | ||||
Gross amount paid to the managing owner | $ (7,071) | |||
Ratio to average net assets | 0.00% | 0.00% | 0.00% | (0.06%) |
Equinox Frontier Masters Fund [Member] | Class 1 [Member] | ||||
Gross amount paid to the managing owner | $ (314) | $ (4,988) | ||
Ratio to average net assets | 0.00% | (0.01%) | 0.00% | (0.12%) |
Equinox Frontier Masters Fund [Member] | Class 2 [Member] | ||||
Gross amount paid to the managing owner | $ (333) | $ (5,113) | ||
Ratio to average net assets | 0.00% | (0.01%) | 0.00% | (0.11%) |
Equinox Frontier Masters Fund [Member] | Class 3 [Member] | ||||
Gross amount paid to the managing owner | $ (543) | $ (5,881) | ||
Ratio to average net assets | 0.00% | (0.01%) | 0.00% | (0.09%) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | ||||
Gross amount paid to the managing owner | $ 4 | $ 35 | $ 41 | $ 167 |
Ratio to average net assets | 0.00% | 0.01% | 0.02% | 0.03% |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3 [Member] | ||||
Gross amount paid to the managing owner | $ 55 | $ 289 | $ 543 | $ 1,566 |
Ratio to average net assets | 0.00% | 0.01% | 0.02% | 0.04% |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1A [Member] | ||||
Gross amount paid to the managing owner | $ 533 | |||
Ratio to average net assets | 0.00% | 0.00% | 0.00% | 0.07% |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2A [Member] | ||||
Gross amount paid to the managing owner | $ 233 | |||
Ratio to average net assets | 0.00% | 0.00% | 0.00% | 0.03% |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3A [Member] | ||||
Gross amount paid to the managing owner | $ 189 | |||
Ratio to average net assets | 0.00% | 0.00% | 0.00% | 0.01% |
Equinox Frontier Balanced Fund [Member] | Class 1 [Member] | ||||
Gross amount paid to the managing owner | $ 4,688 | $ 9,154 | $ 19,340 | $ 199,538 |
Ratio to average net assets | 0.01% | 0.02% | 0.06% | 0.40% |
Equinox Frontier Balanced Fund [Member] | Class 2 [Member] | ||||
Gross amount paid to the managing owner | $ 848 | $ 2,046 | $ 3,504 | $ 54,615 |
Ratio to average net assets | 0.01% | 0.02% | 0.06% | 0.31% |
Equinox Frontier Balanced Fund [Member] | Class 2A [Member] | ||||
Gross amount paid to the managing owner | $ 12 | $ (77) | $ 51 | $ 494 |
Ratio to average net assets | 0.00% | (0.01%) | 0.01% | 0.09% |
Equinox Frontier Balanced Fund [Member] | Class 3A [Member] | ||||
Gross amount paid to the managing owner | $ 31 | $ (136) | $ 139 | $ 1,316 |
Ratio to average net assets | 0.00% | (0.01%) | 0.01% | 0.08% |
Equinox Frontier Balanced Fund [Member] | Class 1AP [Member] | ||||
Gross amount paid to the managing owner | $ 85 | $ 123 | $ 341 | $ 2,539 |
Ratio to average net assets | 0.02% | 0.02% | 0.06% | 0.41% |
Equinox Frontier Select Fund [Member] | Class 1 [Member] | ||||
Gross amount paid to the managing owner | $ 228 | $ 4,708 | $ 6,063 | $ 28,362 |
Ratio to average net assets | 0.00% | 0.08% | 0.13% | 0.36% |
Equinox Frontier Select Fund [Member] | Class 2 [Member] | ||||
Gross amount paid to the managing owner | $ 20 | $ 686 | $ 744 | $ 4,295 |
Ratio to average net assets | 0.00% | 0.08% | 0.13% | 0.36% |
Equinox Frontier Select Fund [Member] | Class 1AP [Member] | ||||
Gross amount paid to the managing owner | $ 1 | $ 17 | $ 26 | $ 84 |
Ratio to average net assets | 0.01% | 0.08% | 0.13% | 0.35% |
Equinox Frontier Winton Fund [Member] | Class 1 [Member] | ||||
Gross amount paid to the managing owner | $ 5,024 | $ 28,693 | $ 67,727 | $ 40,855 |
Ratio to average net assets | 0.04% | 0.22% | 0.60% | 0.25% |
Equinox Frontier Winton Fund [Member] | Class 2 [Member] | ||||
Gross amount paid to the managing owner | $ 310 | $ 23,095 | $ 7,338 | $ 17,017 |
Ratio to average net assets | 0.03% | 0.22% | 0.65% | 0.15% |
Equinox Frontier Winton Fund [Member] | Class 1AP [Member] | ||||
Gross amount paid to the managing owner | $ 18 | $ 74 | $ 212 | $ 50 |
Ratio to average net assets | 0.05% | 0.22% | 0.59% | 0.14% |
Equinox Frontier Heritage Fund [Member] | Class 1 [Member] | ||||
Gross amount paid to the managing owner | $ 412 | $ 7,622 | $ 5,794 | $ 33,744 |
Ratio to average net assets | 0.01% | 0.14% | 0.13% | 0.53% |
Equinox Frontier Heritage Fund [Member] | Class 2 [Member] | ||||
Gross amount paid to the managing owner | $ 68 | $ 1,297 | $ 904 | $ 10,039 |
Ratio to average net assets | 0.01% | 0.14% | 0.13% | 0.56% |
Equinox Frontier Heritage Fund [Member] | Class 1AP [Member] | ||||
Gross amount paid to the managing owner | $ 8 | $ 5 | $ 29 | |
Ratio to average net assets | 0.00% | 0.15% | 0.14% | 0.52% |
Series Of Frontier Fund [Member] | ||||
Gross amount paid to the managing owner | $ 11,804 | $ 76,444 | $ 112,772 | $ 349,196 |
Financial Highlights (Details)
Financial Highlights (Details) - $ / shares | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Net investment gain/(loss) | [1] | (6.10%) | (5.76%) | (6.07%) | (5.73%) |
Expenses before incentive fees | [1],[2] | 6.37% | 5.89% | 6.15% | 6.01% |
Expenses after incentive fees | [1],[2] | 6.38% | 5.89% | 6.32% | 5.89% |
Total return before incentive fee | [1],[3] | (3.17%) | (1.18%) | (13.04%) | (4.92%) |
Total return after incentive fee | [1],[3] | (3.18%) | (1.18%) | (13.20%) | (4.80%) |
Equinox Frontier Diversified Fund [Member] | Class 1 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 108.30 | $ 111.73 | $ 116.41 | $ 116.43 |
Interest incomes | [4] | 0.06 | 0.01 | 0.16 | 0.27 |
Expenses | [4] | (1.83) | (1.86) | (3.19) | (6.36) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (2.07) | 0.22 | (8.91) | (0.24) |
Net income/(loss) | [4] | (3.84) | (1.63) | (11.95) | (6.33) |
Net asset value per unit, Ending balance | [4] | $ 104.46 | $ 110.10 | $ 104.46 | $ 110.10 |
Net investment gain/(loss) | (6.52%) | (6.50%) | (3.73%) | (7.02%) | |
Expenses before incentive fees | [5],[6] | 6.67% | 6.52% | 3.86% | 7.46% |
Expenses after incentive fees | [5],[6] | 6.73% | 6.52% | 3.93% | 7.32% |
Total return before incentive fee | [7] | (3.48%) | (1.46%) | (10.20%) | (5.58%) |
Total return after incentive fee | [7] | (3.55%) | (1.46%) | (10.27%) | (5.44%) |
Equinox Frontier Diversified Fund [Member] | Class 2 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 126.87 | $ 128.62 | $ 135.19 | $ 132.94 |
Interest incomes | [4] | 0.07 | 0.01 | 0.19 | 0.30 |
Expenses | [4] | (1.19) | (1.22) | (3.72) | (3.56) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (2.83) | (0.11) | (8.74) | (2.38) |
Net income/(loss) | [4] | (3.96) | (1.32) | (12.28) | (5.64) |
Net asset value per unit, Ending balance | [4] | $ 122.91 | $ 127.30 | $ 122.91 | $ 127.30 |
Net investment gain/(loss) | (3.45%) | (3.69%) | (3.73%) | (3.26%) | |
Expenses before incentive fees | [5],[6] | 3.60% | 3.72% | 3.86% | 3.70% |
Expenses after incentive fees | [5],[6] | 3.66% | 3.72% | 3.93% | 3.56% |
Total return before incentive fee | [7] | (3.06%) | (1.03%) | (9.01%) | (4.39%) |
Total return after incentive fee | [7] | (3.12%) | (1.03%) | (9.08%) | (4.24%) |
Equinox Frontier Diversified Fund [Member] | Class 3 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 118.09 | $ 119.42 | $ 125.68 | $ 123.27 |
Interest incomes | [4] | 0.06 | 0.01 | 0.17 | 0.28 |
Expenses | [4] | (1.11) | (1.13) | (3.47) | (3.28) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (2.57) | (0.03) | (7.92) | (2) |
Net income/(loss) | [4] | (3.62) | (1.15) | (11.21) | (5) |
Net asset value per unit, Ending balance | [4] | $ 114.47 | $ 118.27 | $ 114.47 | $ 118.27 |
Net investment gain/(loss) | (3.45%) | (3.69%) | (3.73%) | (3.26%) | |
Expenses before incentive fees | [5],[6] | 3.60% | 3.72% | 3.86% | 3.70% |
Expenses after incentive fees | [5],[6] | 3.66% | 3.72% | 3.93% | 3.56% |
Total return before incentive fee | [7] | (3.00%) | (0.96%) | (8.85%) | (4.20%) |
Total return after incentive fee | [7] | (3.07%) | (0.96%) | (8.92%) | (4.06%) |
Equinox Frontier Masters Fund [Member] | Class 1 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 99.33 | $ 102.39 | $ 114.74 | $ 112.80 |
Interest incomes | [4] | 0.07 | 0.11 | 0.25 | 0.53 |
Expenses | [4] | (2.16) | (2.03) | (5.44) | (6.82) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (0.02) | (1.06) | (12.35) | (7.10) |
Net income/(loss) | [4] | (2.13) | (2.98) | (17.54) | (13.39) |
Net asset value per unit, Ending balance | [4] | $ 97.20 | $ 99.41 | $ 97.20 | $ 99.41 |
Net investment gain/(loss) | (8.57%) | (7.26%) | (6.92%) | (7.59%) | |
Expenses before incentive fees | [5],[6] | 8.83% | 7.66% | 7.26% | 8.23% |
Expenses after incentive fees | [5],[6] | 8.83% | 7.66% | 7.26% | 8.23% |
Total return before incentive fee | [7] | (2.14%) | (2.91%) | (15.29%) | (11.87%) |
Total return after incentive fee | [7] | (2.14%) | (2.91%) | (15.29%) | (11.87%) |
Equinox Frontier Masters Fund [Member] | Class 2 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 116.38 | $ 117.90 | $ 133.27 | $ 128.78 |
Interest incomes | [4] | 0.08 | 0.12 | 0.30 | 0.61 |
Expenses | [4] | (1.91) | (1.65) | (6.43) | (5.69) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (0.15) | (1.42) | (12.75) | (8.75) |
Net income/(loss) | [4] | (1.99) | (2.95) | (18.88) | (13.83) |
Net asset value per unit, Ending balance | [4] | $ 114.39 | $ 114.95 | $ 114.39 | $ 114.95 |
Net investment gain/(loss) | (6.38%) | (4.99%) | (6.92%) | (5.33%) | |
Expenses before incentive fees | [5],[6] | 6.65% | 5.39% | 7.26% | 5.97% |
Expenses after incentive fees | [5],[6] | 6.65% | 5.39% | 7.26% | 5.97% |
Total return before incentive fee | [7] | (1.71%) | (2.50%) | (14.17%) | (10.74%) |
Total return after incentive fee | [7] | (1.71%) | (2.50%) | (14.17%) | (10.74%) |
Equinox Frontier Masters Fund [Member] | Class 3 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 108.77 | $ 109.90 | $ 124.40 | $ 119.89 |
Interest incomes | [4] | 0.07 | 0.11 | 0.28 | 0.56 |
Expenses | [4] | (1.79) | (1.54) | (5.97) | (5.27) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (0.06) | (1.24) | (11.72) | (7.95) |
Net income/(loss) | [4] | (1.78) | (2.67) | (17.41) | (12.66) |
Net asset value per unit, Ending balance | [4] | $ 106.99 | $ 107.23 | $ 106.99 | $ 107.23 |
Net investment gain/(loss) | (6.38%) | (4.99%) | (6.92%) | (5.33%) | |
Expenses before incentive fees | [5],[6] | 6.65% | 5.39% | 7.26% | 5.97% |
Expenses after incentive fees | [5],[6] | 6.65% | 5.39% | 7.26% | 5.97% |
Total return before incentive fee | [7] | (1.64%) | (2.43%) | (14.00%) | (10.56%) |
Total return after incentive fee | [7] | (1.64%) | (2.43%) | (14.00%) | (10.56%) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 106.52 | $ 116.35 | $ 115.81 | $ 129.56 |
Interest incomes | [4] | 0.11 | 0 | 0.33 | 0 |
Expenses | [4] | (0.64) | (0.87) | (2.06) | (2.19) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (2.44) | 0.84 | (10.54) | (11.05) |
Net income/(loss) | [4] | (2.98) | (0.03) | (12.27) | (13.24) |
Net asset value per unit, Ending balance | [4] | $ 103.54 | $ 116.32 | $ 103.54 | $ 116.32 |
Net investment gain/(loss) | (2.04%) | (2.87%) | (2.08%) | (2.70%) | |
Expenses before incentive fees | [5],[6] | 2.45% | 2.87% | 2.47% | 3.95% |
Expenses after incentive fees | [5],[6] | 2.45% | 2.87% | 2.47% | 2.70% |
Total return before incentive fee | [7] | (2.80%) | (0.03%) | (10.59%) | (11.47%) |
Total return after incentive fee | [7] | (2.80%) | (0.03%) | (10.59%) | (10.22%) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 111.75 | $ 122.06 | $ 121.50 | $ 130.80 |
Interest incomes | [4] | 0.11 | 0 | 0.34 | 0 |
Expenses | [4] | (0.67) | (0.91) | (2.15) | (2.22) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (2.57) | 0.89 | (11.08) | (6.54) |
Net income/(loss) | [4] | (3.13) | (0.02) | (12.88) | (8.76) |
Net asset value per unit, Ending balance | [4] | $ 108.62 | $ 122.04 | $ 108.62 | $ 122.04 |
Net investment gain/(loss) | (2.04%) | (2.87%) | (2.08%) | (2.70%) | |
Expenses before incentive fees | [5],[6] | 2.45% | 2.87% | 2.47% | 3.95% |
Expenses after incentive fees | [5],[6] | 2.45% | 2.87% | 2.47% | 2.70% |
Total return before incentive fee | [7] | (2.80%) | (0.02%) | (10.60%) | (7.95%) |
Total return after incentive fee | [7] | (2.80%) | (0.02%) | (10.60%) | (6.70%) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 1A [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 70.78 | $ 83.63 | $ 81.35 | $ 92.78 |
Interest incomes | [4] | 0.07 | 0 | 0.23 | 0.01 |
Expenses | [4] | (1.15) | (1.16) | (1.43) | (3.15) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (3.50) | 0.79 | (13.96) | (6.38) |
Net income/(loss) | [4] | (4.59) | (0.37) | (15.16) | (9.52) |
Net asset value per unit, Ending balance | [4] | $ 66.19 | $ 83.26 | $ 66.19 | $ 83.26 |
Net investment gain/(loss) | (6.44%) | (5.31%) | (2.08%) | (4.92%) | |
Expenses before incentive fees | [5],[6] | 6.84% | 5.31% | 2.47% | 6.17% |
Expenses after incentive fees | [5],[6] | 6.84% | 5.31% | 2.47% | 4.92% |
Total return before incentive fee | [7] | (6.48%) | (0.44%) | (18.64%) | (11.52%) |
Total return after incentive fee | [7] | (6.48%) | (0.44%) | (18.64%) | (10.26%) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 2A [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 82.13 | $ 95.39 | $ 93.59 | $ 105.67 |
Interest incomes | [4] | 0.08 | 0 | 0.26 | 0 |
Expenses | [4] | (0.48) | (0.72) | (1.62) | (1.79) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (4.58) | 0.69 | (15.08) | (8.52) |
Net income/(loss) | [4] | (4.98) | (0.03) | (16.44) | (10.31) |
Net asset value per unit, Ending balance | [4] | $ 77.15 | $ 95.36 | $ 77.15 | $ 95.36 |
Net investment gain/(loss) | (2.04%) | (2.87%) | (2.08%) | (2.70%) | |
Expenses before incentive fees | [5],[6] | 2.45% | 2.87% | 2.47% | 3.95% |
Expenses after incentive fees | [5],[6] | 2.45% | 2.87% | 2.47% | 2.70% |
Total return before incentive fee | [7] | (6.06%) | (0.03%) | (17.57%) | (11.01%) |
Total return after incentive fee | [7] | (6.06%) | (0.03%) | (17.57%) | (9.76%) |
Equinox Frontier Long/Short Commodity Fund [Member] | Class 3A [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 86.11 | $ 99.76 | $ 97.99 | $ 107.50 |
Interest incomes | [4] | 0.08 | 0 | 0.27 | 0 |
Expenses | [4] | (0.50) | (0.75) | (1.70) | (1.82) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (4.75) | 0.78 | (15.62) | (5.89) |
Net income/(loss) | [4] | (5.17) | 0.03 | (17.05) | (7.71) |
Net asset value per unit, Ending balance | [4] | $ 80.94 | $ 99.79 | $ 80.94 | $ 99.79 |
Net investment gain/(loss) | (2.04%) | (2.87%) | (2.08%) | (2.70%) | |
Expenses before incentive fees | [5],[6] | 2.45% | 2.87% | 2.47% | 3.95% |
Expenses after incentive fees | [5],[6] | 2.45% | 2.87% | 2.47% | 2.70% |
Total return before incentive fee | [7] | (6.00%) | 0.03% | (17.40%) | (8.43%) |
Total return after incentive fee | [7] | (6.00%) | 0.03% | (17.40%) | (7.17%) |
Equinox Frontier Balanced Fund [Member] | Class 1 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 125.21 | $ 129.84 | $ 135.96 | $ 134.80 |
Interest incomes | [4] | 0.02 | 0.02 | 0.10 | 0.02 |
Expenses | [4] | (2.14) | (2.20) | (6.82) | (6.75) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (3.30) | 0.54 | (9.44) | 0.13 |
Net income/(loss) | [4] | (5.40) | (1.64) | (16.15) | (6.60) |
Net asset value per unit, Ending balance | [4] | $ 119.81 | $ 128.20 | $ 119.81 | $ 128.20 |
Net investment gain/(loss) | (6.89%) | (3.89%) | (7.05%) | (4.05%) | |
Expenses before incentive fees | [5],[6] | 7.01% | 6.63% | 6.81% | 6.68% |
Expenses after incentive fees | [5],[6] | 7.01% | 6.63% | 7.17% | 6.68% |
Total return before incentive fee | [7] | (4.31%) | (1.26%) | (11.52%) | (4.90%) |
Total return after incentive fee | [7] | (4.31%) | (1.26%) | (11.88%) | (4.90%) |
Equinox Frontier Balanced Fund [Member] | Class 2 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 189.72 | $ 190.62 | $ 202.90 | $ 194.99 |
Interest incomes | [4] | 0.03 | 0.03 | 0.15 | 0.03 |
Expenses | [4] | (1.86) | (1.77) | (6.06) | (5.49) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (5) | 0.76 | (14.09) | 0.11 |
Net income/(loss) | [4] | (6.82) | (0.98) | (20) | (5.35) |
Net asset value per unit, Ending balance | [4] | $ 182.90 | $ 189.64 | $ 182.90 | $ 189.64 |
Net investment gain/(loss) | (3.89%) | (3.57%) | (4.05%) | (3.68%) | |
Expenses before incentive fees | [5],[6] | 4.01% | 3.63% | 3.81% | 3.70% |
Expenses after incentive fees | [5],[6] | 4.01% | 3.63% | 4.17% | 3.70% |
Total return before incentive fee | [7] | (3.59%) | (0.51%) | (9.50%) | (2.74%) |
Total return after incentive fee | [7] | (3.59%) | (0.51%) | (9.86%) | (2.74%) |
Equinox Frontier Balanced Fund [Member] | Class 2A [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 164.33 | $ 165.77 | $ 175.77 | $ 169.05 |
Interest incomes | [4] | 0.03 | 0.03 | 0.13 | 0.02 |
Expenses | [4] | (1.61) | (1.54) | (5.26) | (4.75) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (4.26) | 0.72 | (12.16) | 0.66 |
Net income/(loss) | [4] | (5.85) | (0.79) | (17.29) | (4.07) |
Net asset value per unit, Ending balance | [4] | $ 158.48 | $ 164.98 | $ 158.48 | $ 164.98 |
Net investment gain/(loss) | (3.89%) | (3.57%) | (4.05%) | (3.68%) | |
Expenses before incentive fees | [5],[6] | 4.01% | 3.63% | 3.81% | 3.70% |
Expenses after incentive fees | [5],[6] | 4.01% | 3.63% | 4.17% | 3.70% |
Total return before incentive fee | [7] | (3.56%) | (0.48%) | (9.48%) | (2.41%) |
Total return after incentive fee | [7] | (3.56%) | (0.48%) | (9.84%) | (2.41%) |
Equinox Frontier Balanced Fund [Member] | Class 3A [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 163.77 | $ 165.22 | $ 175.18 | $ 168.49 |
Interest incomes | [4] | 0.03 | 0.03 | 0.13 | 0.02 |
Expenses | [4] | (1.60) | (1.54) | (5.24) | (4.73) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (4.26) | 0.71 | (12.13) | 0.64 |
Net income/(loss) | [4] | (5.83) | (0.80) | (17.24) | (4.07) |
Net asset value per unit, Ending balance | [4] | $ 157.94 | $ 164.42 | $ 157.94 | $ 164.42 |
Net investment gain/(loss) | (3.89%) | (3.57%) | (4.05%) | (3.68%) | |
Expenses before incentive fees | [5],[6] | 4.01% | 3.63% | 3.81% | 3.70% |
Expenses after incentive fees | [5],[6] | 4.01% | 3.63% | 4.17% | 3.70% |
Total return before incentive fee | [7] | (3.56%) | (0.48%) | (9.48%) | (2.42%) |
Total return after incentive fee | [7] | (3.56%) | (0.48%) | (9.84%) | (2.42%) |
Equinox Frontier Balanced Fund [Member] | Class 1AP [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 140.68 | $ 141.71 | $ 150.56 | $ 144.97 |
Interest incomes | [4] | 0.03 | 0.02 | 0.11 | 0.02 |
Expenses | [4] | (1.38) | (1.32) | (4.49) | (4.06) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | (3.70) | 0.57 | (10.55) | 0.05 |
Net income/(loss) | [4] | (5.05) | (0.73) | (14.93) | (3.99) |
Net asset value per unit, Ending balance | [4] | $ 135.63 | $ 140.98 | $ 135.63 | $ 140.98 |
Net investment gain/(loss) | (3.89%) | (3.57%) | (4.05%) | (3.68%) | |
Expenses before incentive fees | [5],[6] | 4.01% | 3.63% | 3.81% | 3.70% |
Expenses after incentive fees | [5],[6] | 4.01% | 3.63% | 4.17% | 3.70% |
Total return before incentive fee | [7] | (3.59%) | (0.52%) | (9.55%) | (2.75%) |
Total return after incentive fee | [7] | (3.59%) | (0.52%) | (9.92%) | (2.75%) |
Equinox Frontier Select Fund [Member] | Class 1 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 74.75 | $ 78.79 | $ 90.27 | $ 94.06 |
Interest incomes | [4] | 0 | 0 | 0 | 0 |
Expenses | [4] | (1.01) | (1.07) | (3.15) | (4.24) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | 1.67 | (3.26) | (11.71) | (15.36) |
Net income/(loss) | [4] | 0.66 | (4.33) | (14.86) | (19.60) |
Net asset value per unit, Ending balance | [4] | $ 75.41 | $ 74.46 | $ 75.41 | $ 74.46 |
Net investment gain/(loss) | (5.36%) | (5.24%) | (5.37%) | (6.51%) | |
Expenses before incentive fees | [5],[6] | 5.36% | 5.24% | 5.37% | 6.51% |
Expenses after incentive fees | [5],[6] | 5.36% | 5.24% | 5.37% | 6.51% |
Total return before incentive fee | [7] | 0.88% | (5.50%) | (16.46%) | (20.84%) |
Total return after incentive fee | [7] | 0.88% | (5.50%) | (16.46%) | (20.84%) |
Equinox Frontier Select Fund [Member] | Class 2 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 111.56 | $ 114.11 | $ 132.73 | $ 134.25 |
Interest incomes | [4] | 0 | 0 | 0 | 0 |
Expenses | [4] | (0.67) | (0.66) | (2.10) | (3.32) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | 2.51 | (4.79) | (17.22) | (22.27) |
Net income/(loss) | [4] | 1.84 | (5.45) | (19.32) | (25.59) |
Net asset value per unit, Ending balance | [4] | $ 113.41 | $ 108.66 | $ 113.41 | $ 108.66 |
Net investment gain/(loss) | (2.36%) | (2.24%) | (2.37%) | (3.54%) | |
Expenses before incentive fees | [5],[6] | 2.36% | 2.24% | 2.37% | 3.54% |
Expenses after incentive fees | [5],[6] | 2.36% | 2.24% | 2.37% | 3.54% |
Total return before incentive fee | [7] | 1.65% | (4.78%) | (14.56%) | (19.06%) |
Total return after incentive fee | [7] | 1.65% | (4.78%) | (14.56%) | (19.06%) |
Equinox Frontier Select Fund [Member] | Class 1AP [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 84.07 | $ 85.90 | $ 100.02 | $ 101.16 |
Interest incomes | [4] | 0 | 0 | 0 | 0 |
Expenses | [4] | (0.50) | (0.50) | (1.56) | (2.49) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | 1.88 | (3.52) | (13.01) | (16.79) |
Net income/(loss) | [4] | 1.38 | (4.02) | (14.57) | (19.28) |
Net asset value per unit, Ending balance | [4] | $ 85.45 | $ 81.88 | $ 85.45 | $ 81.88 |
Net investment gain/(loss) | (2.36%) | (2.24%) | (2.37%) | (3.54%) | |
Expenses before incentive fees | [5],[6] | 2.36% | 2.24% | 2.37% | 3.54% |
Expenses after incentive fees | [5],[6] | 2.36% | 2.24% | 2.37% | 3.54% |
Total return before incentive fee | [7] | 1.64% | (4.68%) | (14.57%) | (19.06%) |
Total return after incentive fee | [7] | 1.64% | (4.68%) | (14.57%) | (19.06%) |
Equinox Frontier Winton Fund [Member] | Class 1 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 148.66 | $ 144.09 | $ 159.08 | $ 154.51 |
Interest incomes | [4] | 0 | 0.12 | 0 | 0.11 |
Expenses | [4] | (3.55) | (3.18) | (10.70) | (9.63) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | 0.91 | 1.27 | (2.36) | (2.69) |
Net income/(loss) | [4] | (2.64) | (1.79) | (13.06) | (12.21) |
Net asset value per unit, Ending balance | [4] | $ 146.02 | $ 142.30 | $ 146.02 | $ 142.30 |
Net investment gain/(loss) | (9.49%) | (8.38%) | (9.52%) | (8.55%) | |
Expenses before incentive fees | [5],[6] | 9.49% | 8.71% | 9.52% | 8.83% |
Expenses after incentive fees | [5],[6] | 9.49% | 8.71% | 9.52% | 8.65% |
Total return before incentive fee | [7] | (1.78%) | (1.24%) | (8.21%) | (8.08%) |
Total return after incentive fee | [7] | (1.78%) | (1.24%) | (8.21%) | (7.90%) |
Equinox Frontier Winton Fund [Member] | Class 2 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 203.47 | $ 199.66 | $ 216.50 | $ 210.98 |
Interest incomes | [4] | 0 | 0.17 | 0 | 0.15 |
Expenses | [4] | (3.63) | (2.90) | (10.43) | (8.66) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | 6.36 | 1.77 | 0.13 | (3.77) |
Net income/(loss) | [4] | 2.73 | (0.96) | (10.30) | (12.28) |
Net asset value per unit, Ending balance | [4] | $ 206.20 | $ 198.70 | $ 206.20 | $ 198.70 |
Net investment gain/(loss) | (6.49%) | (5.38%) | (6.52%) | (5.58%) | |
Expenses before incentive fees | [5],[6] | 6.49% | 5.71% | 6.52% | 5.85% |
Expenses after incentive fees | [5],[6] | 6.49% | 5.71% | 6.52% | 5.67% |
Total return before incentive fee | [7] | 1.34% | (0.48%) | (4.76%) | (6.00%) |
Total return after incentive fee | [7] | 1.34% | (0.48%) | (4.76%) | (5.82%) |
Equinox Frontier Winton Fund [Member] | Class 1AP [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 167.19 | $ 157.26 | $ 176.44 | $ 166.17 |
Interest incomes | [4] | 0 | 0.13 | 0 | 0.12 |
Expenses | [4] | (2.74) | (2.28) | (8.20) | (6.83) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | 1.06 | 1.39 | (2.73) | (2.96) |
Net income/(loss) | [4] | (1.68) | (0.76) | (10.93) | (9.67) |
Net asset value per unit, Ending balance | [4] | $ 165.51 | $ 156.50 | $ 165.51 | $ 156.50 |
Net investment gain/(loss) | (6.49%) | (5.38%) | (6.52%) | (5.58%) | |
Expenses before incentive fees | [5],[6] | 6.49% | 5.71% | 6.52% | 5.85% |
Expenses after incentive fees | [5],[6] | 6.49% | 5.71% | 6.52% | 5.67% |
Total return before incentive fee | [7] | (1.00%) | (0.48%) | (6.19%) | (6.00%) |
Total return after incentive fee | [7] | (1.00%) | (0.48%) | (6.19%) | (5.82%) |
Equinox Frontier Heritage Fund [Member] | Class 1 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 102.68 | $ 108.98 | $ 121.19 | $ 119.58 |
Interest incomes | [4] | 0 | 0 | 0 | 0 |
Expenses | [4] | (2.04) | (2.23) | (6.79) | (6.81) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | 0.46 | (0.76) | (13.31) | (6.78) |
Net income/(loss) | [4] | (1.58) | (2.99) | (20.10) | (13.59) |
Net asset value per unit, Ending balance | [4] | $ 101.09 | $ 105.99 | $ 101.09 | $ 105.99 |
Net investment gain/(loss) | (7.93%) | (8.02%) | (8.46%) | (7.98%) | |
Expenses before incentive fees | [5],[6] | 7.93% | 8.02% | 8.44% | 8.04% |
Expenses after incentive fees | [5],[6] | 7.93% | 8.02% | 8.46% | 7.98% |
Total return before incentive fee | [7] | (1.54%) | (2.74%) | (16.56%) | (11.42%) |
Total return after incentive fee | [7] | (1.54%) | (2.74%) | (16.59%) | (11.36%) |
Equinox Frontier Heritage Fund [Member] | Class 2 [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 154.54 | $ 159.18 | $ 179.70 | $ 172.10 |
Interest incomes | [4] | 0 | 0 | 0 | 0 |
Expenses | [4] | (1.91) | (2.05) | (6.56) | (6.24) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | 0.68 | (1.16) | (19.83) | (9.89) |
Net income/(loss) | [4] | (1.23) | (3.21) | (26.39) | (16.13) |
Net asset value per unit, Ending balance | [4] | $ 153.31 | $ 155.97 | $ 153.31 | $ 155.97 |
Net investment gain/(loss) | (4.93%) | (5.02%) | (5.47%) | (5.01%) | |
Expenses before incentive fees | [5],[6] | 4.93% | 5.02% | 5.44% | 5.06% |
Expenses after incentive fees | [5],[6] | 4.93% | 5.02% | 5.47% | 5.01% |
Total return before incentive fee | [7] | (0.80%) | (2.02%) | (14.66%) | (9.43%) |
Total return after incentive fee | [7] | (0.80%) | (2.02%) | (14.69%) | (9.37%) |
Equinox Frontier Heritage Fund [Member] | Class 1AP [Member] | |||||
Net asset value per unit, Beginning balance | [4] | $ 115.46 | $ 118.94 | $ 134.28 | $ 128.60 |
Interest incomes | [4] | 0 | 0 | 0 | 0 |
Expenses | [4] | (1.43) | (1.53) | (5) | (4.62) |
Net gain/(loss) on investments, net of non-controlling interests | [4] | 0.55 | (0.86) | (14.70) | (7.43) |
Net income/(loss) | [4] | (0.88) | (2.39) | (19.70) | (12.05) |
Net asset value per unit, Ending balance | [4] | $ 114.58 | $ 116.55 | $ 114.58 | $ 116.55 |
Net investment gain/(loss) | (4.93%) | (5.02%) | (5.47%) | (5.01%) | |
Expenses before incentive fees | [5],[6] | 4.93% | 5.02% | 5.44% | 5.06% |
Expenses after incentive fees | [5],[6] | 4.93% | 5.02% | 5.47% | 5.01% |
Total return before incentive fee | [7] | (0.76%) | (2.01%) | (14.64%) | (9.43%) |
Total return after incentive fee | [7] | (0.76%) | (2.01%) | (14.67%) | (9.37%) |
[1] | Annualized with the exception of incentive fees. | ||||
[2] | Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Consolidated Statements of Operations of the Trust. See footnote 5. | ||||
[3] | Total returns are not annualized. | ||||
[4] | Interest income and expenses per unit are calculated by dividing these amounts by the average number of units outstanding during the period. The net gain/(loss) on investments, net of non-controlling interests is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. | ||||
[5] | Expense ratios do not include management and incentive fees at the Galaxy Plus entities. The ratios would have been higher had those expenses been included. The impact of those fees are included in the total return. | ||||
[6] | Expense ratios do not reflect interest allocated to the Managing Owner as such expenses are not included in the Statements of Operations of the Series, see footnote 6. | ||||
[7] | Impact of incentive fee computed using average net assets, otherwise computed using average units outstanding during the period prior to the effects of any non-controlling transactions. An owner's total returns may vary from the above returns based on the timing of contributions and withdrawals. Total returns are not annualized. |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities (Details) - Contract | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Derivative Numbers of Instruments Bought | 764 | 2,416 | 2,819 | 8,053 |
Derivative Numbers of Instruments Sold | 544 | 1,936 | 2,375 | 7,774 |
Equinox Frontier Balanced Fund [Member] | ||||
Derivative Numbers of Instruments Bought | 231 | 567 | 1,753 | 1,195 |
Derivative Numbers of Instruments Sold | 231 | 459 | 1,749 | 1,121 |
Equinox Frontier Select Fund [Member] | ||||
Derivative Numbers of Instruments Bought | 4,690 | |||
Derivative Numbers of Instruments Sold | 4,675 | |||
Equinox Frontier Winton Fund [Member] | ||||
Derivative Numbers of Instruments Bought | 1,849 | 2,168 | ||
Derivative Numbers of Instruments Sold | 1,477 | 1,978 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities (Details 2) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Realized Trading Revenue from Futures, Forwards and Options | $ 1,083,414 | $ (543,371) | $ (4,462,044) | $ 12,430,757 | |
Realized Trading Revenue [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | [1] | 1,175,855 | (194,202) | 1,136,964 | (211,381) |
Realized Trading Revenue [Member] | Metals [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | 234,519 | (415,539) | 1,012,647 | (1,700,436) | |
Realized Trading Revenue [Member] | Currency [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | 520,493 | 693,018 | (985,268) | (1,131,814) | |
Realized Trading Revenue [Member] | Energy [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (25,579) | (471,279) | 1,048,526 | (2,238,664) | |
Realized Trading Revenue [Member] | Agriculturals [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | 198,513 | (562,795) | 287,301 | (82,409) | |
Realized Trading Revenue [Member] | Interest [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (298,384) | (99,299) | 1,723 | (2,491,165) | |
Realized Trading Revenue [Member] | Index [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | 546,293 | 661,692 | (227,965) | 7,433,107 | |
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | [1] | 13,124 | 82,008 | (270,212) | (569,161) |
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Metals [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | 122,534 | (35,090) | 16,990 | (112,630) | |
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Currency [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | 8,349 | 418,961 | (190,681) | 238,745 | |
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Energy [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (18,352) | (37,022) | 42,905 | 868 | |
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Agriculturals [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (26,065) | (255,648) | 24,718 | (509,639) | |
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Interest [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (64,465) | 26,520 | (161,677) | (425,751) | |
Realized Trading Revenue [Member] | Equinox Frontier Balanced Fund [Member] | Index [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | $ (8,877) | (35,713) | $ (2,467) | 240,982 | |
Realized Trading Revenue [Member] | Equinox Frontier Winton Fund [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | [1] | (276,209) | 1,053,217 | ||
Realized Trading Revenue [Member] | Equinox Frontier Winton Fund [Member] | Metals [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (380,449) | (1,442,763) | |||
Realized Trading Revenue [Member] | Equinox Frontier Winton Fund [Member] | Currency [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | 274,057 | 1,244,155 | |||
Realized Trading Revenue [Member] | Equinox Frontier Winton Fund [Member] | Energy [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (434,257) | (1,721,544) | |||
Realized Trading Revenue [Member] | Equinox Frontier Winton Fund [Member] | Agriculturals [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (307,146) | 399,406 | |||
Realized Trading Revenue [Member] | Equinox Frontier Winton Fund [Member] | Interest [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (125,819) | (1,296,976) | |||
Realized Trading Revenue [Member] | Equinox Frontier Winton Fund [Member] | Index [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | $ 697,405 | 6,359,249 | |||
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | [1] | (695,436) | |||
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Metals [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (145,043) | ||||
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Currency [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (126,402) | ||||
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Energy [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (516,253) | ||||
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Agriculturals [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | 27,824 | ||||
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Interest [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | (768,438) | ||||
Realized Trading Revenue [Member] | Equinox Frontier Select Fund [Member] | Index [Member] | |||||
Realized Trading Revenue from Futures, Forwards and Options | $ 832,876 | ||||
[1] | Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options. |
Derivative Instruments and He_5
Derivative Instruments and Hedging Activities (Details 3) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | $ (1,454,761) | $ 601,928 | $ (1,713,225) | $ (6,236,677) | |
Open Trade Equity [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | [1] | (713,117) | 691,294 | (1,227,357) | (2,179,533) |
Open Trade Equity [Member] | Metals [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (235,504) | 36,050 | (474,681) | (151,493) | |
Open Trade Equity [Member] | Currency [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (538,221) | (478,195) | (425,578) | (1,472,515) | |
Open Trade Equity [Member] | Energy [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | 60,010 | 213,027 | (313,242) | (105,818) | |
Open Trade Equity [Member] | Agriculturals [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (160,030) | 264,443 | 65,596 | (81,250) | |
Open Trade Equity [Member] | Interest [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | 84,141 | (147,197) | (30,149) | (1,085,406) | |
Open Trade Equity [Member] | Index [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | 76,487 | 803,166 | (49,303) | 716,949 | |
Open Trade Equity [Member] | Equinox Frontier Balanced Fund [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | [1] | (63,530) | (84,039) | (141,192) | (403,237) |
Open Trade Equity [Member] | Equinox Frontier Balanced Fund [Member] | Metals [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (10,838) | 41,418 | 12,286 | (110,251) | |
Open Trade Equity [Member] | Equinox Frontier Balanced Fund [Member] | Currency [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (83,636) | (257,141) | (185,045) | (258,229) | |
Open Trade Equity [Member] | Equinox Frontier Balanced Fund [Member] | Energy [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | 6,294 | 8,412 | (45,174) | 11,735 | |
Open Trade Equity [Member] | Equinox Frontier Balanced Fund [Member] | Agriculturals [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | 38,061 | 59,883 | (5,025) | (96,789) | |
Open Trade Equity [Member] | Equinox Frontier Balanced Fund [Member] | Interest [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (24,837) | 31,989 | 87,216 | 38,801 | |
Open Trade Equity [Member] | Equinox Frontier Balanced Fund [Member] | Index [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | $ 11,426 | 31,400 | $ (5,450) | 11,496 | |
Open Trade Equity [Member] | Equinox Frontier Winton Fund [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | [1] | 775,332 | (1,630,449) | ||
Open Trade Equity [Member] | Equinox Frontier Winton Fund [Member] | Metals [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (5,368) | 10,108 | |||
Open Trade Equity [Member] | Equinox Frontier Winton Fund [Member] | Currency [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (221,054) | (843,998) | |||
Open Trade Equity [Member] | Equinox Frontier Winton Fund [Member] | Energy [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | 204,615 | 28,571 | |||
Open Trade Equity [Member] | Equinox Frontier Winton Fund [Member] | Agriculturals [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | 204,560 | (92,870) | |||
Open Trade Equity [Member] | Equinox Frontier Winton Fund [Member] | Interest [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (179,186) | (827,879) | |||
Open Trade Equity [Member] | Equinox Frontier Winton Fund [Member] | Index [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | $ 771,765 | 95,619 | |||
Open Trade Equity [Member] | Equinox Frontier Select Fund [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | [1] | (145,848) | |||
Open Trade Equity [Member] | Equinox Frontier Select Fund [Member] | Metals [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (51,351) | ||||
Open Trade Equity [Member] | Equinox Frontier Select Fund [Member] | Currency [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (370,286) | ||||
Open Trade Equity [Member] | Equinox Frontier Select Fund [Member] | Energy [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (146,125) | ||||
Open Trade Equity [Member] | Equinox Frontier Select Fund [Member] | Agriculturals [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | 108,409 | ||||
Open Trade Equity [Member] | Equinox Frontier Select Fund [Member] | Interest [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | (296,328) | ||||
Open Trade Equity [Member] | Equinox Frontier Select Fund [Member] | Index [Member] | |||||
Net Change in Open Trade Equity/UnRealized Trading Revenue from Futures, Forwards and Options | $ 609,833 | ||||
[1] | Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) |
Derivative Instruments and He_6
Derivative Instruments and Hedging Activities (Details 4) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Swap [Member] | ||
Gross Amounts of recognized Derivative Assets | $ 18,908,412 | $ 21,208,838 |
Gross Amounts offset in the Statement of Financial Condition | ||
Net Amounts Presented in the Statement of Financial Condition | 18,908,412 | 21,208,838 |
Open Trade Equity [Member] | ||
Gross Amounts of recognized Derivative Assets | 1,593,779 | 2,758,014 |
Gross Amounts offset in the Statement of Financial Condition | (1,247,053) | (1,189,600) |
Net Amounts Presented in the Statement of Financial Condition | 346,726 | 1,568,414 |
Equinox Frontier Balanced Fund [Member] | Swap [Member] | ||
Gross Amounts of recognized Derivative Assets | 9,850,185 | 11,340,959 |
Gross Amounts offset in the Statement of Financial Condition | ||
Net Amounts Presented in the Statement of Financial Condition | 9,850,185 | 11,340,959 |
Equinox Frontier Balanced Fund [Member] | Open Trade Equity [Member] | ||
Gross Amounts of recognized Derivative Assets | 580,714 | 343,222 |
Gross Amounts offset in the Statement of Financial Condition | (604,158) | (164,670) |
Net Amounts Presented in the Statement of Financial Condition | (23,444) | 178,552 |
Equinox Frontier Diversified Fund [Member] | Swap [Member] | ||
Gross Amounts of recognized Derivative Assets | 5,575,997 | 6,376,472 |
Gross Amounts offset in the Statement of Financial Condition | ||
Net Amounts Presented in the Statement of Financial Condition | 5,575,997 | 6,376,472 |
Equinox Frontier Long/Short Commodity Fund [Member] | Swap [Member] | ||
Gross Amounts of recognized Derivative Assets | 471,942 | 397,039 |
Gross Amounts offset in the Statement of Financial Condition | ||
Net Amounts Presented in the Statement of Financial Condition | 471,942 | 397,039 |
Equinox Frontier Heritage Fund [Member] | Swap [Member] | ||
Gross Amounts of recognized Derivative Assets | 3,010,288 | 3,094,367 |
Gross Amounts offset in the Statement of Financial Condition | ||
Net Amounts Presented in the Statement of Financial Condition | $ 3,010,288 | $ 3,094,367 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | 2 Months Ended | 9 Months Ended |
Nov. 19, 2018 | Sep. 30, 2018 | |
Redemptions | $ (20,449,826) | |
Equinox Frontier Balanced Fund [Member] | ||
Redemptions | (8,088,356) | |
Equinox Frontier Diversified Fund [Member] | ||
Redemptions | (2,618,601) | |
Equinox Frontier Heritage Fund [Member] | ||
Redemptions | (795,000) | |
Equinox Frontier Long/Short Commodity Fund [Member] | ||
Redemptions | (769,015) | |
Equinox Frontier Masters Fund [Member] | ||
Redemptions | (3,456,368) | |
Equinox Frontier Select Fund [Member] | ||
Redemptions | (1,342,069) | |
Equinox Frontier Winton Fund [Member] | ||
Redemptions | $ (3,380,413) | |
Subsequent Event [Member] | Equinox Frontier Balanced Fund [Member] | ||
Redemptions | $ 1,602,003 | |
Subsequent Event [Member] | Equinox Frontier Diversified Fund [Member] | ||
Redemptions | 234,295 | |
Subsequent Event [Member] | Equinox Frontier Heritage Fund [Member] | ||
Redemptions | 181,043 | |
Subsequent Event [Member] | Equinox Frontier Long/Short Commodity Fund [Member] | ||
Redemptions | 211,739 | |
Subsequent Event [Member] | Equinox Frontier Masters Fund [Member] | ||
Redemptions | 435,911 | |
Subsequent Event [Member] | Equinox Frontier Select Fund [Member] | ||
Redemptions | 192,279 | |
Subsequent Event [Member] | Equinox Frontier Winton Fund [Member] | ||
Redemptions | 215,916 | |
Subsequent Event [Member] | Equinox Frontier Fund [Member] | ||
Redemptions | $ 3,073,186 |