Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Aug. 14, 2020 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Frontier Funds | |
Entity Central Index Key | 0001261379 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2020 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-51274 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Incorporation, State or Country Code | DE | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 0 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 |
Statements of Financial Conditi
Statements of Financial Condition - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Frontier Funds [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 1,057,205 | $ 367,568 |
U.S. Treasury securities, at fair value | 607,107 | 650,728 |
Receivable from futures commission merchants | 623,534 | 2,526,242 |
Open trade equity, at fair value | 116,184 | |
Swap contracts, at fair value | 12,700,415 | 21,579,865 |
Investments in private investment companies, at fair value | 26,243,398 | 35,926,037 |
Interest receivable | 2,019 | 13,363 |
Due from Managing Owner | ||
Receivable from related parties | 11,453 | 11,453 |
Redemptions receivable from private investment companies | 912,803 | 552,017 |
Other assets | 9,065 | 5,700 |
Total Assets | 42,166,999 | 61,749,157 |
LIABILITIES | ||
Open trade equity, at fair value | 8,117 | |
Redemptions payable | 93,653 | 133,633 |
Management fees payable to Managing Owner | 8,823 | 8,795 |
Interest payable to Managing Owner | 1,576 | 327 |
Service fees payable to Managing Owner | 42,547 | 68,762 |
Trading fees payable to Managing Owner | 98,360 | 160,907 |
Risk analysis fees payable | 8,520 | 8,465 |
Advance on unrealized swap appreciation | 10,291,555 | 12,191,555 |
Subscriptions in advance for service fee rebates | 622,000 | 598,042 |
Other liabilities | 15,226 | 22,078 |
Total Liabilities | 11,190,377 | 13,192,564 |
CAPITAL | ||
Managing Owner Units | 344,052 | 487,974 |
Limited Owner Units | 30,632,570 | 48,068,619 |
Total Owners' Capital | 30,976,622 | 48,556,593 |
Total Liabilities and Capital | 42,166,999 | 61,749,157 |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | 198,442 | 56,263 |
U.S. Treasury securities, at fair value | 113,957 | 99,605 |
Swap contracts, at fair value | 4,629,556 | 6,384,583 |
Investments in private investment companies, at fair value | 5,217,961 | 9,305,733 |
Investments in unconsolidated trading companies, at fair value | 16,057 | 24,150 |
Interest receivable | 370 | 2,027 |
Receivable from related parties | 11,453 | 11,453 |
Redemptions receivable from private investment companies | 235,089 | 171,906 |
Other assets | 7,225 | 5,700 |
Total Assets | 10,430,110 | 16,061,420 |
LIABILITIES | ||
Redemptions payable | 80,730 | |
Service fees payable to Managing Owner | 702 | 3,392 |
Trading fees payable to Managing Owner | 16,024 | 35,877 |
Advance on unrealized swap appreciation | 4,000,000 | 4,000,000 |
Subscriptions in advance for service fee rebates | 22,649 | 22,531 |
Other liabilities | ||
Total Liabilities | 4,120,105 | 4,061,800 |
CAPITAL | ||
Total Owners' Capital | 6,310,005 | 11,999,620 |
Non-Controlling Interests | ||
Total Capital | 6,310,005 | 11,999,620 |
Total Liabilities and Capital | 10,430,110 | 16,061,420 |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Class 1 [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 186,800 | $ 1,303,195 |
Units Outstanding | 2,521 | 12,890 |
Net Asset Value per Unit | $ 74.09 | $ 101.10 |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Class 1a [Member] | ||
CAPITAL | ||
Limited Owner Units | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Class 2 [Member] | ||
CAPITAL | ||
Managing Owner Units | 2,235 | 3,023 |
Limited Owner Units | $ 1,965,497 | $ 5,597,828 |
Units Outstanding | 21,892 | 46,067 |
Net Asset Value per Unit | $ 89.88 | $ 121.58 |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Class 2a [Member] | ||
CAPITAL | ||
Managing Owner Units | ||
Limited Owner Units | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Class 3 | ||
CAPITAL | ||
Managing Owner Units | 75,360 | 115,933 |
Limited Owner Units | $ 4,080,113 | $ 4,979,641 |
Units Outstanding | 49,416 | 44,853 |
Net Asset Value per Unit | $ 84.09 | $ 113.61 |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Class 3a [Member] | ||
CAPITAL | ||
Managing Owner Units | ||
Limited Owner Units | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | 49,840 | 25,639 |
U.S. Treasury securities, at fair value | 28,621 | 45,391 |
Swap contracts, at fair value | ||
Investments in private investment companies, at fair value | 1,460,176 | 2,198,997 |
Investments in unconsolidated trading companies, at fair value | 4,033 | 11,005 |
Interest receivable | 93 | 924 |
Receivable from related parties | ||
Redemptions receivable from private investment companies | 97,546 | |
Other assets | 109 | |
Total Assets | 1,640,418 | 2,281,956 |
LIABILITIES | ||
Redemptions payable | ||
Service fees payable to Managing Owner | 142 | 204 |
Trading fees payable to Managing Owner | 8,085 | 11,673 |
Advance on unrealized swap appreciation | ||
Subscriptions in advance for service fee rebates | 31,725 | 31,541 |
Other liabilities | 499 | |
Total Liabilities | 39,952 | 43,917 |
CAPITAL | ||
Total Owners' Capital | 1,600,467 | 2,238,039 |
Non-Controlling Interests | ||
Total Capital | 1,600,467 | 2,238,039 |
Total Liabilities and Capital | 1,640,419 | 2,281,956 |
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Class 1 [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 10,929 | $ 12,794 |
Units Outstanding | 177 | 177 |
Net Asset Value per Unit | $ 61.92 | $ 72.28 |
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Class 1a [Member] | ||
CAPITAL | ||
Limited Owner Units | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Class 2 [Member] | ||
CAPITAL | ||
Managing Owner Units | 10,347 | 13,043 |
Limited Owner Units | $ 600,130 | $ 837,765 |
Units Outstanding | 8,126 | 9,759 |
Net Asset Value per Unit | $ 75.13 | $ 87.18 |
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Class 2a [Member] | ||
CAPITAL | ||
Managing Owner Units | ||
Limited Owner Units | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Class 3 | ||
CAPITAL | ||
Managing Owner Units | 7,962 | 9,228 |
Limited Owner Units | $ 971,099 | $ 1,365,209 |
Units Outstanding | 13,875 | 16,806 |
Net Asset Value per Unit | $ 70.56 | $ 81.78 |
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Class 3a [Member] | ||
CAPITAL | ||
Managing Owner Units | ||
Limited Owner Units | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | 79,502 | 34,272 |
U.S. Treasury securities, at fair value | 45,654 | 60,673 |
Swap contracts, at fair value | 582,519 | 362,521 |
Investments in private investment companies, at fair value | 670,153 | 986,757 |
Investments in unconsolidated trading companies, at fair value | 6,433 | 14,711 |
Interest receivable | 197 | 1,296 |
Receivable from related parties | ||
Redemptions receivable from private investment companies | 39,796 | |
Other assets | 173 | |
Total Assets | 1,424,427 | 1,460,230 |
LIABILITIES | ||
Redemptions payable | 6,585 | |
Service fees payable to Managing Owner | ||
Trading fees payable to Managing Owner | 2,426 | 3,468 |
Advance on unrealized swap appreciation | 115,000 | 115,000 |
Subscriptions in advance for service fee rebates | 353 | 220 |
Other liabilities | 667 | |
Total Liabilities | 117,779 | 125,940 |
CAPITAL | ||
Total Owners' Capital | 1,306,647 | 1,334,290 |
Non-Controlling Interests | ||
Total Capital | 1,306,647 | 1,334,290 |
Total Liabilities and Capital | 1,424,426 | 1,460,230 |
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Class 1 [Member] | ||
CAPITAL | ||
Limited Owner Units | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Class 1a [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 11,552 | $ 11,447 |
Units Outstanding | 259 | 259 |
Net Asset Value per Unit | $ 44.58 | $ 44.20 |
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | ||
CAPITAL | ||
Managing Owner Units | $ 4,620 | $ 4,530 |
Limited Owner Units | $ 35,806 | $ 36,515 |
Units Outstanding | 485 | 503 |
Net Asset Value per Unit | $ 83.27 | $ 81.60 |
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Class 2a [Member] | ||
CAPITAL | ||
Managing Owner Units | $ 8,003 | $ 7,861 |
Limited Owner Units | $ 75,299 | $ 73,965 |
Units Outstanding | 1,557 | 1,557 |
Net Asset Value per Unit | $ 53.49 | $ 52.55 |
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Class 3 | ||
CAPITAL | ||
Managing Owner Units | ||
Limited Owner Units | $ 961,500 | $ 991,828 |
Units Outstanding | 11,007 | 11,581 |
Net Asset Value per Unit | $ 87.35 | $ 85.64 |
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Class 3a [Member] | ||
CAPITAL | ||
Managing Owner Units | $ 1,012 | $ 993 |
Limited Owner Units | $ 208,855 | $ 207,151 |
Units Outstanding | 3,722 | 3,763 |
Net Asset Value per Unit | $ 56.38 | $ 55.31 |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 230,915 | $ 118,506 |
U.S. Treasury securities, at fair value | 132,605 | 209,799 |
Receivable from futures commission merchants | 116,184 | |
Open trade equity, at fair value | 623,534 | 2,526,242 |
Swap contracts, at fair value | 7,488,340 | 11,944,753 |
Investments in private investment companies, at fair value | 11,417,167 | 13,809,892 |
Investments in unconsolidated trading companies, at fair value | 18,685 | 50,867 |
Interest receivable | 430 | 4,270 |
Redemptions receivable from private investment companies | 214,761 | 380,111 |
Other assets | 1,194 | |
Total Assets | 20,127,631 | 29,160,624 |
LIABILITIES | ||
Open trade equity, at fair value | 8,117 | |
Redemptions payable | 39,059 | |
Management fees payable to Managing Owner | 8,823 | 8,795 |
Interest payable to Managing Owner | 552 | 105 |
Service fees payable to Managing Owner | 23,719 | 41,635 |
Trading fees payable to Managing Owner | 44,493 | 70,179 |
Risk analysis fees payable | 8,520 | 8,465 |
Advance on unrealized swap appreciation | 6,176,555 | 6,176,555 |
Subscriptions in advance for service fee rebates | 335,700 | 319,698 |
Other liabilities | 2,372 | |
Total Liabilities | 6,606,479 | 6,666,863 |
CAPITAL | ||
Total Owners' Capital | 13,521,152 | 22,493,761 |
Non-Controlling Interests | ||
Total Capital | 13,521,152 | 22,493,761 |
Total Liabilities and Capital | 20,127,631 | 29,160,624 |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Class 1 [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 10,514,816 | $ 17,797,600 |
Units Outstanding | 133,798 | 151,814 |
Net Asset Value per Unit | $ 78.59 | $ 117.23 |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Class 2 [Member] | ||
CAPITAL | ||
Managing Owner Units | $ 50,180 | $ 73,748 |
Limited Owner Units | $ 2,096,307 | $ 3,288,105 |
Units Outstanding | 16,977 | 18,092 |
Net Asset Value per Unit | $ 126.44 | $ 185.82 |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Class 2a [Member] | ||
CAPITAL | ||
Managing Owner Units | $ 94,536 | $ 151,133 |
Limited Owner Units | $ 29,979 | $ 44,048 |
Units Outstanding | 1,136 | 1,212 |
Net Asset Value per Unit | $ 109.61 | $ 161.04 |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Class 3a [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 573,021 | $ 900,583 |
Units Outstanding | 5,246 | 5,611 |
Net Asset Value per Unit | $ 109.24 | $ 160.50 |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Class 1AP [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 162,312 | $ 238,544 |
Units Outstanding | 1,731 | 1,731 |
Net Asset Value per Unit | $ 93.76 | $ 137.81 |
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 913 | $ 61,345 |
U.S. Treasury securities, at fair value | 524 | 108,603 |
Receivable from futures commission merchants | ||
Open trade equity, at fair value | ||
Swap contracts, at fair value | ||
Investments in private investment companies, at fair value | 1,769,871 | 2,184,240 |
Investments in unconsolidated trading companies, at fair value | 74 | 505,355 |
Interest receivable | 2 | 2,268 |
Redemptions receivable from private investment companies | 194,548 | |
Other assets | ||
Total Assets | 1,965,932 | 2,861,811 |
LIABILITIES | ||
Open trade equity, at fair value | ||
Redemptions payable | 12,923 | 6,875 |
Management fees payable to Managing Owner | ||
Interest payable to Managing Owner | 153 | |
Service fees payable to Managing Owner | 5,173 | 6,906 |
Trading fees payable to Managing Owner | 3,686 | 6,000 |
Risk analysis fees payable | ||
Advance on unrealized swap appreciation | ||
Subscriptions in advance for service fee rebates | 18,431 | 16,895 |
Other liabilities | 7,311 | 8,509 |
Total Liabilities | 47,677 | 45,185 |
CAPITAL | ||
Total Owners' Capital | 1,918,255 | 2,816,626 |
Non-Controlling Interests | ||
Total Capital | 1,918,255 | 2,816,626 |
Total Liabilities and Capital | 1,965,932 | 2,861,811 |
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Class 1 [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 1,831,525 | $ 2,715,051 |
Units Outstanding | 30,003 | 40,793 |
Net Asset Value per Unit | $ 61.04 | $ 66.56 |
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Class 2 [Member] | ||
CAPITAL | ||
Managing Owner Units | $ 24,504 | $ 29,831 |
Limited Owner Units | $ 52,140 | $ 60,910 |
Units Outstanding | 792 | 873 |
Net Asset Value per Unit | $ 96.75 | $ 103.94 |
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Class 2a [Member] | ||
CAPITAL | ||
Managing Owner Units | ||
Limited Owner Units | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Class 3a [Member] | ||
CAPITAL | ||
Limited Owner Units | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Class 1AP [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 10,086 | $ 10,834 |
Units Outstanding | 138 | 138 |
Net Asset Value per Unit | $ 72.9 | $ 78.51 |
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 40,280 | $ 27,532 |
U.S. Treasury securities, at fair value | 23,131 | 48,741 |
Swap contracts, at fair value | ||
Investments in private investment companies, at fair value | 3,601,923 | 5,022,967 |
Investments in unconsolidated trading companies, at fair value | 3,259 | 11,818 |
Interest receivable | 75 | 992 |
Redemptions receivable from private investment companies | 103,858 | |
Other assets | ||
Total Assets | 3,772,526 | 5,112,050 |
LIABILITIES | ||
Redemptions payable | 71,379 | |
Interest payable to Managing Owner | 166 | 56 |
Service fees payable to Managing Owner | 7,879 | 11,263 |
Trading fees payable to Managing Owner | 15,665 | 22,540 |
Advance on unrealized swap appreciation | ||
Subscriptions in advance for service fee rebates | 152,714 | 150,025 |
Other liabilities | 7,915 | 8,543 |
Total Liabilities | 184,339 | 263,806 |
CAPITAL | ||
Total Owners' Capital | 3,588,187 | 4,848,244 |
Non-Controlling Interests | ||
Total Capital | 3,588,187 | 4,848,244 |
Total Liabilities and Capital | 3,772,526 | 5,112,050 |
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Class 1 [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 3,349,676 | $ 4,471,980 |
Units Outstanding | 27,529 | 34,003 |
Net Asset Value per Unit | $ 121.68 | $ 131.52 |
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Class 2 [Member] | ||
CAPITAL | ||
Managing Owner Units | $ 37,458 | $ 50,058 |
Limited Owner Units | $ 170,019 | $ 293,159 |
Units Outstanding | 1,146 | 1,780 |
Net Asset Value per Unit | $ 181.09 | $ 192.82 |
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Class 1AP [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 31,034 | $ 33,047 |
Units Outstanding | 214 | 214 |
Net Asset Value per Unit | $ 145.35 | $ 154.43 |
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | ||
ASSETS | ||
Cash and cash equivalents | $ 457,313 | $ 44,011 |
U.S. Treasury securities, at fair value | 262,615 | 77,916 |
Swap contracts, at fair value | 2,888,008 | |
Investments in private investment companies, at fair value | 2,020,602 | 2,259,678 |
Investments in unconsolidated trading companies, at fair value | 37,004 | 18,891 |
Interest receivable | 852 | 1,586 |
Redemptions receivable from private investment companies | 27,205 | |
Other assets | 364 | |
Total Assets | 2,805,955 | 5,290,090 |
LIABILITIES | ||
Redemptions payable | 9,735 | |
Interest payable to Managing Owner | 705 | 166 |
Service fees payable to Managing Owner | 4,932 | 5,362 |
Trading fees payable to Managing Owner | 7,981 | 11,170 |
Advance on unrealized swap appreciation | 1,900,000 | |
Subscriptions in advance for service fee rebates | 60,428 | 57,132 |
Other liabilities | 1,488 | |
Total Liabilities | 74,046 | 1,985,053 |
CAPITAL | ||
Total Owners' Capital | 2,731,909 | 2,826,013 |
Non-Controlling Interests | 479,024 | |
Total Capital | 2,731,909 | 3,305,037 |
Total Liabilities and Capital | 2,805,955 | 5,290,090 |
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Class 1 [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 2,200,107 | $ 2,295,623 |
Units Outstanding | 22,797 | 23,536 |
Net Asset Value per Unit | $ 96.51 | $ 97.54 |
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Class 2 [Member] | ||
CAPITAL | ||
Managing Owner Units | $ 27,835 | $ 28,593 |
Limited Owner Units | $ 495,598 | $ 493,464 |
Units Outstanding | 3,394 | 3,399 |
Net Asset Value per Unit | $ 154.24 | $ 153.59 |
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Class 1AP [Member] | ||
CAPITAL | ||
Limited Owner Units | $ 8,369 | $ 8,333 |
Units Outstanding | 73 | 73 |
Net Asset Value per Unit | $ 115.25 | $ 114.15 |
Condensed Schedule of Investmen
Condensed Schedule of Investments - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | |||
The Series of Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member] | |||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [2] | $ 4,629,556 | $ 6,384,583 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 73.37% | 101.18% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Swap [Member] | Frontier XXXV Diversified Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | $ 4,629,556 | $ 6,384,583 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 73.37% | 101.18% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Swap [Member] | Frontier XXXVII L/S Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | ||||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,460,176 | $ 9,305,733 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 91.23% | 147.47% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 66,514 | $ 494,968 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.81% | 7.84% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,150,789 | $ 1,267,090 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 18.24% | 20.08% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 932,662 | $ 2,031,482 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 14.78% | 32.19% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 455,518 | $ 1,460,173 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 7.22% | 23.14% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 508,775 | $ 499,551 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 8.06% | 7.92% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,253,101 | $ 1,827,263 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 19.86% | 28.96% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 897,185 | $ 1,549,720 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 14.22% | 24.56% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | ||||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 19,930 | $ 175,486 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.32% | 2.78% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 16,057 | [4] | $ 24,150 | |
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.25% | [4] | 0.38% | |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 16,057 | $ 24,150 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.25% | 0.38% | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [5] | $ 85,404 | $ 99,605 | ||
Investment Owned, % of Total Capital (Net Asset Value) | 1.58% | ||||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | $ 113,957 | $ 99,605 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 1.81% | 1.58% | ||
Investment Owned, Underlying Face Amount, at Face Value | [5] | $ 455,000 | $ 510,000 | ||
Investment Owned, at Cost | 607,104 | [5] | 652,026 | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 113,956 | 78,065 | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 99,804 | |||
Investment Owned, at Cost | [5] | 20,063 | |||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 15,567 | 78,065 | ||
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 99,804 | |||
Investment Owned, at Cost | [5] | 20,063 | |||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [2] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | ||||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Swap [Member] | Frontier XXXV Diversified Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | ||||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Swap [Member] | Frontier XXXVII L/S Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | ||||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 670,153 | $ 2,198,997 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 51.29% | 137.40% | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 21,902 | $ 210,013 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 1.04% | 101.18% | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 299,407 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 18.71% | |||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 894,595 | $ 1,049,575 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 55.90% | 65.58% | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 266,174 | $ 466,988 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 16.63% | 29.18% | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 472,421 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 29.52% | |||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | ||||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 4,033 | [4] | $ 11,005 | |
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.25% | [4] | 0.69% | |
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | $ 4,033 | $ 11,005 | [3] | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.25% | 0.69% | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [5] | $ 21,450 | $ 45,391 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 2.84% | |||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | $ 28,621 | $ 45,391 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 1.79% | 2.84% | ||
Investment Owned, Underlying Face Amount, at Face Value | [5] | $ 455,000 | $ 510,000 | ||
Investment Owned, at Cost | [5] | 607,104 | 652,026 | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 28,621 | 35,575 | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 45,482 | |||
Investment Owned, at Cost | [5] | 15,468 | |||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 12,001 | 35,575 | ||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 45,482 | |||
Investment Owned, at Cost | [5] | 15,468 | |||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [2] | $ 582,519 | $ 362,521 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 44.58% | 27.17% | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Swap [Member] | Frontier XXXV Diversified Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Swap [Member] | Frontier XXXVII L/S Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | $ 582,519 | $ 362,521 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 44.58% | 27.17% | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 10,412 | $ 986,757 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.13% | 75.52% | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 15,156 | $ 111,013 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 1.05% | 8.50% | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 313,961 | $ 343,834 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 24.03% | 26.31% | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | ||||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 356,192 | $ 531,910 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 27.26% | 40.71% | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 6,433 | [4] | $ 14,711 | |
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.49% | [4] | 1.13% | |
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 6,433 | $ 14,711 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.49% | 1.13% | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [5] | $ 34,216 | $ 60,673 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 4.64% | |||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | $ 45,654 | $ 60,673 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 3.49% | 4.64% | ||
Investment Owned, Underlying Face Amount, at Face Value | [5] | $ 455,000 | $ 510,000 | ||
Investment Owned, at Cost | [5] | 607,104 | 652,026 | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 45,654 | 47,552 | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 60,794 | |||
Investment Owned, at Cost | [5] | 11,051 | |||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 8,575 | 47,552 | ||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 60,794 | |||
Investment Owned, at Cost | [5] | 11,051 | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [2] | $ 7,488,340 | $ 11,944,753 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 55.38% | 88.34% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Swap [Member] | Frontier XXXIV Balanced Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | $ 7,488,340 | $ 11,944,753 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 55.38% | 88.34% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 11,417,167 | $ 13,809,892 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 84.44% | 102.14% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 668,428 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 4.94% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 2,002,195 | $ 1,913,873 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 14.81% | 14.15% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 2,350,342 | $ 2,589,148 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 17.38% | 19.15% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,430,029 | $ 2,556,118 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 10.58% | 18.90% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 731,830 | $ 533,194 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 5.41% | 3.94% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 2,153,396 | $ 2,679,197 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 15.93% | 19.81% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 2,716,938 | $ 2,583,294 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 20.09% | 19.11% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 32,437 | $ 286,640 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.24% | 2.12% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 18,685 | $ 50,867 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.14% | 0.36% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 18,685 | $ 50,867 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.14% | 0.38% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | Frontier Trading Company XXXIX, LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | ||||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [5] | $ 99,381 | $ 209,799 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 1.55% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | $ 132,605 | $ 209,799 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 0.98% | 1.55% | ||
Investment Owned, Underlying Face Amount, at Face Value | [5] | $ 455,000 | $ 510,000 | ||
Investment Owned, at Cost | [5] | 607,104 | 652,026 | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 164,427 | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 210,217 | |||
Investment Owned, at Cost | [5] | 132,604 | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | |||||
Investment Owned, Fair Value | [1] | $ 294,939 | $ 54,119 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 2.18% | 0.41% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Agriculture Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | $ 22,437 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.17% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various base metals futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [6] | $ (3,344) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | (0.20%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ (7,800) | ||||
Investment Owned, % of Total Capital (Net Asset Value) | (0.06%) | ||||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [6] | $ (735) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | (0.01%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [1] | $ 269,732 | $ (2,763) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 1.99% | (0.02%) | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various precious metal futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | $ 21,400 | $ 45,590 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.16% | 0.34% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [1] | $ 709 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.01% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | $ 4,085 | $ 1,740 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.03% | 0.01% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | $ (12,328) | [1] | $ (2,506) | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (0.09%) | [1] | (0.02%) | [6] | |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Stock Index Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [6] | $ (7,157) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | (0.05%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [6] | $ (21,237) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | (0.16%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [6] | $ 21,385 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.16% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Currency Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [1] | $ 19,850 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.15% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | |||||
Investment Owned, Fair Value | [1] | $ (324,805) | $ 2,938 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | (2.41%) | 0.01% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Agriculture Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | $ 810 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.01% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | $ (6,369) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | (0.05%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | $ (218,579) | [1] | $ 9,573 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (1.62%) | [1] | 0.07% | [6] | |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various precious metal futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | $ (56,407) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | (0.42%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | $ (6,590) | $ (3,340) | ||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | (0.05%) | (0.02%) | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [1] | $ (2,789) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | (0.02%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Agriculture Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [1] | $ (1,410) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | (0.01%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [6] | $ 1,104 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.01% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ (1,540) | [1] | $ 3,380 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (0.01%) | [1] | 0.02% | [6] | |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [6] | $ 1,104 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.01% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ 128 | ||||
Investment Owned, % of Total Capital (Net Asset Value) | 0.00% | ||||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Currency Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [1] | $ (37,497) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | (0.28%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | $ (2,213) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | (0.02%) | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | CURRENCY FORWARDS [Member] | |||||
Investment Owned, Fair Value | [1] | $ 59,127 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.44% | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | CURRENCY FORWARDS [Member] | Various Currency Forwards Contracts (NA) [Member] | |||||
Investment Owned, Fair Value | [1] | $ 21,749 | $ 59,127 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.16% | 0.44% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Open Trade Equity (Deficit) [Member] | |||||
Investment Owned, Fair Value | [1] | $ (8,117) | $ 116,184 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | (0.07%) | 0.86% | ||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | U.S. Treasury Securities One [Member] | |||||
Investment Owned, Fair Value | [5] | $ 164,427 | |||
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | U.S. Treasury Securities One [Member] | |||||
Investment Owned, Fair Value | [5] | 210,217 | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [2] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | ||||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Swap [Member] | Frontier XXXIV Balanced Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | ||||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,769,871 | $ 2,184,240 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 92.26% | 113.87% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 947,841 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 49.41% | 0.00% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | 0.00% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | 0.00% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | 0.00% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | 0.00% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 822,030 | $ 835,386 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 42.85% | 43.55% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,348,854 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 70.32% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 74 | $ 505,355 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | 26.34% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 74 | $ 26,331 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.00% | 1.37% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | Frontier Trading Company XXXIX, LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 479,024 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 24.97% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [5] | $ 393 | $ 108,603 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 5.66% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | $ 524 | $ 108,603 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 0.03% | 5.66% | ||
Investment Owned, Underlying Face Amount, at Face Value | [5] | $ 455,000 | $ 510,000 | ||
Investment Owned, at Cost | [5] | 607,104 | 652,026 | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 85,116 | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 108,820 | |||
Investment Owned, at Cost | [5] | 524 | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | 0.00% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Agriculture Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [6] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various precious metal futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various soft futures contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [6] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Stock Index Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [6] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [6] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [6] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | 0.00% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Agriculture Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [1] | [6] | |||
Investment Owned, % of Total Capital (Net Asset Value) | 0.00% | [1] | 0.00% | [6] | |
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Agriculture Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [6] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | [6] | |||
Investment Owned, % of Total Capital (Net Asset Value) | 0.00% | [1] | 0.00% | [6] | |
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various interest rates futures contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [6] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | CURRENCY FORWARDS [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | CURRENCY FORWARDS [Member] | Various Currency Forwards Contracts (NA) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Open Trade Equity (Deficit) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | 0.00% | ||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | U.S. Treasury Securities One [Member] | |||||
Investment Owned, Fair Value | [5] | $ 85,116 | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | U.S. Treasury Securities One [Member] | |||||
Investment Owned, Fair Value | [5] | 108,820 | |||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [2] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | ||||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Swap [Member] | Frontier Brevan Howard Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | ||||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 3,601,923 | $ 5,022,967 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 100.38% | 139.99% | ||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 3,601,923 | $ 5,022,967 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 100.38% | 18.14% | ||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | ||||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Investment in Unconsolidated Trading Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 3,259 | $ 11,818 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.09% | 0.33% | ||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Investment in Unconsolidated Trading Companies [Member] | Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 3,259 | $ 11,818 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 0.09% | 0.33% | ||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [5] | $ 48,741 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 1.36% | |||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | $ 23,131 | $ 48,741 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 0.64% | 1.36% | ||
Investment Owned, Underlying Face Amount, at Face Value | [5] | $ 455,000 | $ 510,000 | ||
Investment Owned, at Cost | [5] | 607,104 | 652,026 | ||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 17,336 | 38,200 | ||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 48,838 | |||
Investment Owned, at Cost | [5] | 23,131 | |||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | U.S. Treasury Securities One [Member] | |||||
Investment Owned, Fair Value | [5] | 38,200 | |||
The Series of Frontier Funds [Member] | Frontier Global Fund (formerly Frontier Winton Fund) [Member] | U.S. Treasury Securities One [Member] | |||||
Investment Owned, Fair Value | [5] | 48,838 | |||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [2] | $ 2,888,008 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 18.14% | |||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Swap [Member] | Frontier Brevan Howard Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [2] | $ 2,888,008 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [2] | 18.14% | |||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 2,020,602 | $ 2,259,678 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 73.96% | 79.96% | ||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 1,198,572 | $ 1,473,432 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 43.87% | 52.14% | ||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 822,030 | $ 786,246 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 30.09% | 27.82% | ||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | |||||
Investment Owned, Fair Value | [3] | $ 37,004 | $ 18,891 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 1.35% | 0.67% | ||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | Frontier Trading Company XXXVIII, LLC [Member] | |||||
Investment Owned, Fair Value | [3] | $ 37,004 | $ 18,891 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [3] | 1.35% | 0.67% | ||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | |||||
Investment Owned, Fair Value | [5] | $ 77,916 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 2.76% | |||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | $ 262,615 | $ 77,916 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [5] | 9.61% | 2.76% | ||
Investment Owned, Underlying Face Amount, at Face Value | [5] | $ 455,000 | $ 510,000 | ||
Investment Owned, at Cost | [5] | 607,104 | 652,026 | ||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 196,819 | 61,065 | ||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | [5] | 78,071 | |||
Investment Owned, at Cost | [5] | 262,614 | |||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | U.S. Treasury Securities One [Member] | |||||
Investment Owned, Fair Value | [5] | 61,065 | |||
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | U.S. Treasury Securities One [Member] | |||||
Investment Owned, Fair Value | [5] | 78,071 | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | |||||
Investment Owned, % of Total Capital (Net Asset Value) | 0.00% | ||||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various precious metal futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | LONG FUTURES CONTRACTS [Member] | Various Currency Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various precious metal futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various Currency Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | CURRENCY FORWARDS [Member] | Various Currency Forwards Contracts (NA) [Member] | |||||
Investment Owned, Fair Value | [1] | ||||
Investment Owned, % of Total Capital (Net Asset Value) | [1] | 0.00% | |||
Frontier Funds [Member] | Swap [Member] | |||||
Investment Owned, Fair Value | [7] | $ 12,700,415 | $ 21,579,865 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 41.00% | 44.45% | ||
Frontier Funds [Member] | Swap [Member] | Frontier XXXV Diversified Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 4,629,556 | $ 6,384,583 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 14.95% | 13.15% | ||
Frontier Funds [Member] | Swap [Member] | Frontier XXXVII L/S Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 582,519 | $ 362,521 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 1.88% | 0.75% | ||
Frontier Funds [Member] | Swap [Member] | Frontier XXXIV Balanced Select Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 7,488,340 | $ 11,944,753 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 24.17% | 24.60% | ||
Frontier Funds [Member] | Swap [Member] | Frontier Brevan Howard Swap (U.S.) [Member] | |||||
Investment Owned, Fair Value | [7] | $ 2,888,008 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [7] | 5.95% | |||
Frontier Funds [Member] | Private Investment Companies [Member] | |||||
Investment Owned, Fair Value | [8] | $ 26,243,398 | $ 35,926,037 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 84.73% | 73.99% | ||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 1,484,422 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 3.06% | |||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 4,400,232 | $ 3,180,963 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 14.21% | 6.55% | ||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 3,283,004 | $ 4,620,630 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 10.60% | 9.52% | ||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 4,016,291 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 8.27% | |||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 1,240,606 | $ 1,032,745 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 4.00% | 2.13% | ||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 9,101,587 | $ 12,052,434 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 29.38% | 24.82% | ||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 5,838,318 | $ 6,565,468 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 18.85% | 13.52% | ||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 1,821,275 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 3.75% | |||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 408,559 | $ 994,036 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 1.32% | 2.05% | ||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 1,885,547 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 6.09% | |||
Frontier Funds [Member] | Private Investment Companies [Member] | Galaxy Plus Fund - Quest Fit Feeder Fund (535) LLC [Member] | |||||
Investment Owned, Fair Value | [8] | $ 85,545 | $ 157,773 | ||
Investment Owned, % of Total Capital (Net Asset Value) | [8] | 0.28% | 0.32% | ||
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | |||||
Investment Owned, Fair Value | $ 294,939 | [9] | $ 54,119 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 0.94% | [9] | 0.10% | [6] | |
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various Agriculture Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ (7,800) | [9] | $ 22,437 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (0.03%) | [9] | 0.05% | [6] | |
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various Base Metals Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [6] | $ (3,344) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | (0.01%) | |||
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [6] | $ (735) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | $ 269,732 | [9] | $ (2,763) | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 0.87% | [9] | (0.01%) | [6] | |
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various precious metal futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ 21,400 | [9] | $ 45,590 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 0.07% | [9] | 0.09% | [6] | |
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ 4,085 | [9] | $ 1,740 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 0.01% | [9] | 0.00% | [6] | |
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | $ (12,328) | [9] | $ (2,506) | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (0.04%) | [9] | (0.01%) | [6] | |
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various Stock Index Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [6] | $ (7,157) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | (0.01%) | |||
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various stock index futures contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [6] | $ (21,237) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | (0.04%) | |||
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [6] | $ 709 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various Currency Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [9] | $ 19,850 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [9] | 0.06% | |||
Frontier Funds [Member] | LONG FUTURES CONTRACTS [Member] | Various Stock Index Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [6] | $ 21,385 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.04% | |||
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | |||||
Investment Owned, Fair Value | $ (324,805) | [9] | $ 2,937 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (1.05%) | [9] | 0.01% | [6] | |
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | Various Agriculture Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ 810 | [9] | $ (1,410) | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 0.00% | [9] | 0.00% | [6] | |
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | Various energy futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ (1,540) | [9] | $ 3,380 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 0.00% | [9] | 0.01% | [6] | |
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | Various Interest Rates Futures Contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | $ (218,579) | [9] | $ 9,572 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (0.71%) | [9] | 0.02% | [6] | |
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | Various precious metal futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ (56,407) | [9] | $ (6,369) | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (0.18%) | [9] | (0.01%) | [6] | |
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | Various Soft Futures Contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | $ (6,590) | [9] | $ (3,340) | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (0.02%) | [9] | (0.01%) | [6] | |
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | Various stock index futures contracts (Europe) [Member] | |||||
Investment Owned, Fair Value | [9] | $ (2,789) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [9] | (0.01%) | |||
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | Various Currency Futures Contracts (Oceanic) [Member] | |||||
Investment Owned, Fair Value | [9] | $ (37,497) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [9] | (0.12%) | |||
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | Various currency futures contracts (U.S.) [Member] | |||||
Investment Owned, Fair Value | [9] | $ (2,213) | |||
Investment Owned, % of Total Capital (Net Asset Value) | [9] | (0.01%) | |||
Frontier Funds [Member] | SHORT FUTURES CONTRACTS [Member] | Various Interest Rates Futures Contracts (Far East) [Member] | |||||
Investment Owned, Fair Value | [6] | $ 1,104 | |||
Investment Owned, % of Total Capital (Net Asset Value) | [6] | 0.00% | |||
Frontier Funds [Member] | CURRENCY FORWARDS [Member] | Open Trade Equity (Deficit) [Member] | |||||
Investment Owned, Fair Value | $ (8,117) | [9] | $ 116,184 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | (0.04%) | [9] | 0.23% | [6] | |
Frontier Funds [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | |||||
Investment Owned, Fair Value | $ 607,107 | $ 650,728 | |||
Investment Owned, % of Total Capital (Net Asset Value) | 1.96% | 1.34% | |||
Frontier Funds [Member] | Additional Disclosure on U.S. Treasury Securities [Member] | US Treasury Note [Member] | |||||
Investment Owned, Fair Value | $ 607,107 | $ 650,728 | |||
Investment Owned, % of Total Capital (Net Asset Value) | 1.96% | 1.34% | |||
Investment Owned, Underlying Face Amount, at Face Value | $ 455,000 | $ 510,000 | |||
Investment Owned, at Cost | 607,104 | 652,026 | |||
Frontier Funds [Member] | CURRENCY FORWARDS [Member] | Various Currency Forwards Contracts (NA) [Member] | |||||
Investment Owned, Fair Value | $ 21,749 | [9] | $ 59,128 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 0.07% | [9] | 0.12% | [6] | |
Frontier Funds [Member] | CURRENCY FORWARDS [Member] | Total Currency Forwards [Member] | |||||
Investment Owned, Fair Value | $ 21,749 | [9] | $ 59,128 | [6] | |
Investment Owned, % of Total Capital (Net Asset Value) | 0.07% | [9] | 12.00% | [6] | |
[1] | 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. | ||||
[2] | See Note 4 to the Financial Statements. | ||||
[3] | See Note 5 to the Financial Statements. | ||||
[4] | 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. | ||||
[5] | See Note 2 to the Financial Statements. | ||||
[6] | 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. | ||||
[7] | See Notes to Consolidated Financial Statements, Note 4. | ||||
[8] | See Notes to Consolidated Financial Statements, Note 5. | ||||
[9] | 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. |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Frontier Funds [Member] | ||||
Investment income: | ||||
Interest - net | $ 1,798 | $ 16,734 | $ 9,780 | $ 60,906 |
Total Income/(loss) | 1,798 | 16,734 | 9,780 | 60,906 |
Expenses: | ||||
Management Fees | 4,704 | 17,989 | 9,724 | 69,666 |
Service Fees - Class 1 | 152,889 | 257,901 | 355,224 | 549,256 |
Risk analysis Fees | 1,411 | (3,820) | 2,917 | 2,872 |
Due Diligence Fees | 2,711 | 6,843 | ||
Trading Fees | 328,254 | 581,958 | 772,150 | 1,165,209 |
Other Fees | 38 | 38 | ||
Total Expenses | 490,007 | 854,028 | 1,146,896 | 1,787,003 |
Investment income/(loss) - net | (488,209) | (837,294) | (1,137,116) | (1,726,097) |
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on futures, forwards and options | (221,676) | 178,497 | 420,559 | (1,098,852) |
Net unrealized gain/(loss) on private investment companies | 937,067 | 2,025,004 | 1,729,759 | 4,859,737 |
Net realized gain/(loss) on private investment companies | (3,755,156) | 127,735 | (3,974,277) | (1,792,671) |
Net change in open trade equity/(deficit) | (51,316) | (19,404) | (77,035) | 506,148 |
Net realized gain/(loss) on swap contracts | (189,734) | (189,734) | ||
Net unrealized gain/(loss) on swap contracts | 249,461 | 244,541 | (7,241,457) | (104,923) |
Net realized gain/(loss) on U.S. Treasury securities | 5,764 | (43,742) | 45,731 | 59,596 |
Net unrealized gain/(loss) on U.S. Treasury securities | (7,730) | 53,004 | 4,581 | (32,268) |
Trading commissions | (3,683) | (9,167) | (12,058) | (20,240) |
Net gain/(loss) on investments | (3,037,003) | 2,556,468 | (9,293,931) | 2,376,527 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (3,525,212) | 1,719,174 | (10,431,047) | 650,430 |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | ||||
Investment income: | ||||
Interest - net | 829 | 1,134 | 863 | 6,002 |
Total Income/(loss) | 829 | 1,134 | 863 | 6,002 |
Expenses: | ||||
Management Fees | 2,668 | |||
Service Fees - Class 1 | 2,943 | 11,366 | 10,650 | 23,395 |
Due Diligence Fees | 2,072 | 5,455 | ||
Trading Fees | 57,135 | 126,026 | 157,685 | 256,330 |
Total Expenses | 62,150 | 137,392 | 173,790 | 282,393 |
Investment income/(loss) - net | (61,321) | (136,258) | (172,927) | (276,391) |
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on futures, forwards and options | ||||
Net unrealized gain/(loss) on private investment companies | 654,040 | 486,940 | 769,326 | 929,678 |
Net realized gain/(loss) on private investment companies | (1,094,200) | (117,397) | (1,243,996) | (449,834) |
Net change in open trade equity/(deficit) | ||||
Net realized gain/(loss) on swap contracts | ||||
Net unrealized gain/(loss) on swap contracts | 87,524 | 47,593 | (2,024,174) | (39,055) |
Net realized gain/(loss) on U.S. Treasury securities | (3,764) | (15,661) | (20,030) | (590) |
Net unrealized gain/(loss) on U.S. Treasury securities | 4,123 | 17,613 | 27,341 | (425) |
Trading commissions | ||||
Change in fair value of investments in unconsolidated trading companies | (3,279) | (1,115) | (4,288) | (85,613) |
Net gain/(loss) on investments | (355,556) | 417,973 | (2,495,821) | 354,161 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (416,877) | 281,715 | (2,668,748) | 77,770 |
Less: Operations attributable to non-controlling interests | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | $ (416,877) | $ 281,715 | $ (2,668,748) | $ 77,770 |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | Class 1 [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 | $ (5.06) | $ 1.6 | $ (27.01) | $ 0.19 |
The Series of Frontier Funds [Member] | Frontier Diversified 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 | ||||
The Series of Frontier Funds [Member] | 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 | (5.72) | 2.42 | (31.70) | 1.27 |
The Series of Frontier Funds [Member] | Frontier Diversified 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 | ||||
The Series of Frontier Funds [Member] | 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 | (5.29) | 2.34 | (29.52) | 1.34 |
The Series of Frontier Funds [Member] | Frontier Diversified 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 | ||||
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | ||||
Investment income: | ||||
Interest - net | $ 488 | $ 1,466 | $ 1,478 | $ 2,156 |
Total Income/(loss) | 488 | 1,466 | 1,478 | 2,156 |
Expenses: | ||||
Management Fees | 2,072 | 7,665 | ||
Service Fees - Class 1 | 499 | 2,268 | 1,094 | 9,754 |
Due Diligence Fees | 547 | 1,203 | ||
Trading Fees | 29,246 | 58,718 | 61,645 | 126,036 |
Total Expenses | 30,292 | 63,058 | 63,942 | 143,455 |
Investment income/(loss) - net | (29,804) | (61,592) | (62,464) | (141,299) |
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on futures, forwards and options | ||||
Net unrealized gain/(loss) on private investment companies | 261,001 | 71,119 | 507,695 | 135,339 |
Net realized gain/(loss) on private investment companies | (476,170) | 4,089 | (711,307) | (99,767) |
Net change in open trade equity/(deficit) | ||||
Net realized gain/(loss) on swap contracts | ||||
Net unrealized gain/(loss) on swap contracts | ||||
Net realized gain/(loss) on U.S. Treasury securities | (943) | 7,328 | 6,361 | 5,397 |
Net unrealized gain/(loss) on U.S. Treasury securities | (669) | (458) | (2,598) | 3,472 |
Trading commissions | ||||
Change in fair value of investments in unconsolidated trading companies | 444 | (6,283) | (6,038) | (67,510) |
Net gain/(loss) on investments | (216,337) | 75,795 | (205,887) | (23,069) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (246,141) | 14,203 | (268,351) | (164,368) |
Less: Operations attributable to non-controlling interests | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | $ (246,141) | $ 14,203 | $ (268,351) | $ (164,368) |
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | Class 1 [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 | $ (9.41) | $ (0.86) | $ (10.36) | $ (3.77) |
The Series of Frontier Funds [Member] | Frontier Masters 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 | ||||
The Series of Frontier Funds [Member] | 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 | (11.06) | (0.59) | (12.05) | (3.58) |
The Series of Frontier Funds [Member] | Frontier Masters 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 | ||||
The Series of Frontier Funds [Member] | 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 | (10.33) | (0.50) | (11.22) | (3.23) |
The Series of Frontier Funds [Member] | Frontier Masters 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 | ||||
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | ||||
Investment income: | ||||
Interest - net | $ 472 | $ 437 | $ 1,119 | $ 1,135 |
Total Income/(loss) | 472 | 437 | 1,119 | 1,135 |
Expenses: | ||||
Management Fees | ||||
Service Fees - Class 1 | 111 | 152 | 222 | 314 |
Due Diligence Fees | 92 | 185 | ||
Trading Fees | 7,765 | 14,365 | 17,312 | 28,217 |
Total Expenses | 7,968 | 14,517 | 17,719 | 28,531 |
Investment income/(loss) - net | (7,496) | (14,080) | (16,600) | (27,396) |
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on futures, forwards and options | ||||
Net unrealized gain/(loss) on private investment companies | 236,900 | 304,133 | 177,059 | 714,483 |
Net realized gain/(loss) on private investment companies | (282,472) | (156,673) | (349,843) | (702,242) |
Net change in open trade equity/(deficit) | ||||
Net realized gain/(loss) on swap contracts | ||||
Net unrealized gain/(loss) on swap contracts | (31,444) | (25,765) | 219,997 | (43,201) |
Net realized gain/(loss) on U.S. Treasury securities | 2,024 | (1,404) | 7,218 | 2,705 |
Net unrealized gain/(loss) on U.S. Treasury securities | 415 | 3,374 | (1,501) | 395 |
Trading commissions | ||||
Change in fair value of investments in unconsolidated trading companies | (4,087) | (469) | (8,793) | (1,029) |
Net gain/(loss) on investments | (78,664) | 123,196 | 44,137 | (28,889) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (86,160) | 109,116 | 27,537 | (56,285) |
Less: Operations attributable to non-controlling interests | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | $ (86,160) | $ 109,116 | $ 27,537 | $ (56,285) |
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | Class 1 [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 | ||||
The Series of Frontier Funds [Member] | 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 | (3.11) | 2.71 | 0.38 | (3.95) |
The Series of Frontier Funds [Member] | 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 | (5.39) | 4.86 | 1.67 | (0.30) |
The Series of Frontier Funds [Member] | 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 | (3.48) | 3.28 | 0.94 | (4.29) |
The Series of Frontier Funds [Member] | 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 | (5.65) | 5.09 | 1.71 | (0.31) |
The Series of Frontier Funds [Member] | 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 | $ (3.64) | $ 3.49 | $ 1.07 | $ (4.38) |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | ||||
Investment income: | ||||
Interest - net | $ 9 | $ 13,502 | $ 6,320 | $ 24,862 |
Total Income/(loss) | 9 | 13,502 | 6,320 | 24,862 |
Expenses: | ||||
Management Fees | 4,704 | 5,286 | 9,724 | 13,365 |
Service Fees - Class 1 | 1,411 | 1,414 | 2,917 | 2,872 |
Risk analysis Fees | 85,674 | 154,061 | 210,982 | 324,926 |
Due Diligence Fees | 138,508 | 248,123 | 337,493 | 527,460 |
Trading Fees | 38 | 38 | ||
Total Expenses | 230,335 | 408,884 | 561,154 | 868,623 |
Investment income/(loss) - net | (230,326) | (395,382) | (554,834) | (843,761) |
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on futures, forwards and options | (221,676) | 253,372 | 420,559 | 257,898 |
Net unrealized gain/(loss) on private investment companies | 729,962 | 563,390 | 636,269 | 1,466,941 |
Net realized gain/(loss) on private investment companies | (1,711,953) | (14,004) | (1,805,553) | (761,338) |
Net change in open trade equity/(deficit) | (51,316) | (94,279) | (77,035) | (196,515) |
Net realized gain/(loss) on swap contracts | ||||
Net unrealized gain/(loss) on swap contracts | 202,399 | 91,290 | (5,635,109) | (103,896) |
Net realized gain/(loss) on U.S. Treasury securities | 5,959 | 11,778 | 26,115 | 8,349 |
Net unrealized gain/(loss) on U.S. Treasury securities | (6,621) | (9,616) | (5,025) | 5,068 |
Trading commissions | (3,683) | (9,167) | (12,058) | (16,232) |
Change in fair value of investments in unconsolidated trading companies | (7,252) | (1,360) | (30,553) | (139,630) |
Net gain/(loss) on investments | (1,064,181) | 791,404 | (6,482,390) | 520,645 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (1,294,507) | 396,022 | (7,037,224) | (323,116) |
Less: Operations attributable to non-controlling interests | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | $ (1,294,507) | $ 396,022 | $ (7,037,224) | $ (323,116) |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | Class 1 [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 | $ (7.44) | $ 1.46 | $ (38.64) | $ (1.28) |
The Series of Frontier Funds [Member] | 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 | (10.93) | 3.62 | (59.38) | 0.72 |
The Series of Frontier Funds [Member] | 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 | (9.43) | 3.13 | (51.26) | 0.64 |
The Series of Frontier Funds [Member] | 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 | (8.11) | 2.69 | (44.05) | 0.54 |
The Series of Frontier Funds [Member] | 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 | $ (9.46) | $ 3.22 | $ (51.43) | $ 0.68 |
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | ||||
Investment income: | ||||
Interest - net | ||||
Total Income/(loss) | ||||
Expenses: | ||||
Management Fees | ||||
Service Fees - Class 1 | 17,932 | 26,562 | ||
Risk analysis Fees | 38,092 | 52,067 | ||
Due Diligence Fees | 32,400 | 45,107 | ||
Trading Fees | 15,445 | 22,475 | ||
Other Fees | ||||
Total Expenses | 33,377 | 49,037 | 70,492 | 97,174 |
Investment income/(loss) - net | (33,377) | (49,037) | (70,492) | (97,174) |
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on futures, forwards and options | ||||
Net unrealized gain/(loss) on private investment companies | 166,302 | 176,441 | 143,350 | 259,209 |
Net realized gain/(loss) on private investment companies | (290,557) | 75,451 | (282,634) | 24,501 |
Net change in open trade equity/(deficit) | ||||
Net realized gain/(loss) on swap contracts | (91,989) | (91,989) | ||
Net unrealized gain/(loss) on swap contracts | ||||
Net realized gain/(loss) on U.S. Treasury securities | (1,544) | 7,688 | 3,748 | 11,151 |
Net unrealized gain/(loss) on U.S. Treasury securities | (739) | (5,941) | (2,955) | (8,678) |
Trading commissions | ||||
Change in fair value of investments in unconsolidated trading companies | (5,308) | 63,183 | 88,449 | 37,710 |
Net gain/(loss) on investments | (223,835) | 316,822 | (142,031) | 323,893 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (257,212) | 267,785 | (212,523) | 226,719 |
Less: Operations attributable to non-controlling interests | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | $ (257,212) | $ 267,785 | $ (212,523) | $ 226,719 |
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | Class 1 [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 | $ (6.43) | $ 5.27 | $ (5.52) | $ 4.62 |
The Series of Frontier Funds [Member] | 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 | (9.41) | 8.98 | (7.19) | 8.78 |
The Series of Frontier Funds [Member] | Frontier Select 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 | ||||
The Series of Frontier Funds [Member] | Frontier Select 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 | ||||
The Series of Frontier Funds [Member] | 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 | $ (7.09) | $ 6.04 | $ (5.61) | $ 5.86 |
The Series of Frontier Funds [Member] | Frontier Global Fund [Member] | ||||
Investment income: | ||||
Interest - net | ||||
Total Income/(loss) | ||||
Expenses: | ||||
Management Fees | ||||
Service Fees - Class 1 | 27,786 | 58,227 | ||
Trading Fees | 52,118 | 107,673 | ||
Total Expenses | 79,904 | 165,900 | ||
Investment income/(loss) - net | (79,904) | (165,900) | ||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on futures, forwards and options | ||||
Net unrealized gain/(loss) on private investment companies | (753,170) | (504,048) | ||
Net realized gain/(loss) on private investment companies | 107,968 | 417,626 | ||
Net realized gain/(loss) on swap contracts | ||||
Net unrealized gain/(loss) on swap contracts | ||||
Net realized gain/(loss) on U.S. Treasury securities | 1,039 | 12,532 | ||
Net unrealized gain/(loss) on U.S. Treasury securities | 1,777 | (3,714) | ||
Trading commissions | ||||
Change in fair value of investments in unconsolidated trading companies | (4,195) | (9,272) | ||
Net gain/(loss) on investments | (646,581) | (86,876) | ||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (726,485) | (252,776) | ||
Less: Operations attributable to non-controlling interests | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | $ (726,485) | (252,776) | ||
The Series of Frontier Funds [Member] | Frontier Global Fund [Member] | ||||
Investment income: | ||||
Interest - net | ||||
Total Income/(loss) | ||||
Expenses: | ||||
Management Fees | 9,531 | 38,679 | ||
Service Fees - Class 1 | 42,779 | 94,902 | ||
Trading Fees | 82,598 | 125,313 | ||
Total Expenses | 134,908 | 258,894 | ||
Investment income/(loss) - net | (134,908) | (258,894) | ||
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on futures, forwards and options | ||||
Net unrealized gain/(loss) on private investment companies | 865,806 | 1,553,914 | ||
Net realized gain/(loss) on private investment companies | (366,129) | (366,129) | ||
Net realized gain/(loss) on swap contracts | ||||
Net unrealized gain/(loss) on swap contracts | ||||
Net realized gain/(loss) on U.S. Treasury securities | (51,229) | 26,444 | ||
Net unrealized gain/(loss) on U.S. Treasury securities | 43,406 | (29,487) | ||
Trading commissions | ||||
Change in fair value of investments in unconsolidated trading companies | (23,742) | (352,005) | ||
Net gain/(loss) on investments | 468,112 | 832,737 | ||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | 333,204 | (252,776) | 573,843 | |
Less: Operations attributable to non-controlling interests | ||||
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | $ 333,204 | $ (252,776) | $ 573,843 | |
The Series of Frontier Funds [Member] | Frontier Global Fund [Member] | Class 1 [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 | $ (24.30) | $ 7.31 | $ (9.84) | $ 12.07 |
The Series of Frontier Funds [Member] | Frontier Global 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 | (34.55) | 12 | (11.73) | 20.31 |
The Series of Frontier Funds [Member] | Frontier Global 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 | $ (27.73) | $ 9.62 | $ (9.08) | $ 16.21 |
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | ||||
Investment income: | ||||
Interest - net | ||||
Total Income/(loss) | ||||
Expenses: | ||||
Management Fees | 1,100 | 38,679 | ||
Service Fees - Class 1 | 17,944 | 20,713 | 35,957 | 94,902 |
Trading Fees | 28,037 | 29,653 | 57,942 | 56,746 |
Total Expenses | 45,981 | 51,466 | 93,899 | 107,933 |
Investment income/(loss) - net | (45,981) | (51,466) | (93,899) | (107,933) |
Realized and unrealized gain/(loss) on investments: | ||||
Net realized gain/(loss) on futures, forwards and options | ||||
Net unrealized gain/(loss) on private investment companies | (340,888) | 375,448 | 75,226 | 516,272 |
Net realized gain/(loss) on private investment companies | (5,506) | (67,182) | (1,135) | (73,928) |
Net realized gain/(loss) on swap contracts | (97,745) | (97,745) | ||
Net unrealized gain/(loss) on swap contracts | (9,018) | 131,423 | 197,829 | 81,229 |
Net realized gain/(loss) on U.S. Treasury securities | 2,993 | (2,242) | 9,787 | 6,140 |
Net unrealized gain/(loss) on U.S. Treasury securities | (6,016) | 4,626 | (6,967) | (2,613) |
Trading commissions | ||||
Change in fair value of investments in unconsolidated trading companies | (41) | (6,966) | (6,144) | (63,918) |
Net gain/(loss) on investments | (456,221) | 435,107 | 170,851 | 463,182 |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS | (502,202) | 383,641 | 355,249 | 355,249 |
Less: Operations attributable to non-controlling interests | (95,914) | (63,719) | (95,914) | (39,383) |
NET INCREASE/(DECREASE) IN CAPITAL RESULTING FROM OPERATIONS ATTRIBUTABLE TO CONTROLLING INTERESTS | $ (598,116) | $ 319,922 | $ (18,962) | $ 315,866 |
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | Class 1 [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 | $ (17.70) | $ 9.92 | $ (1.03) | $ 9.77 |
The Series of Frontier Funds [Member] | 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 | (26.93) | 16.5 | 0.65 | 17.43 |
The Series of Frontier Funds [Member] | 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 | $ (20.12) | $ 13.9 | $ 1.1 | $ 14.56 |
Statements of Changes in Owners
Statements of Changes in Owners' Capital Equity (Unaudited) - 6 months ended Jun. 30, 2020 - USD ($) | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member]Limited Owners [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member]Limited Owners [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member]Limited Owners [Member]Class 3 [Member] | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member]Managing Owner [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member]Managing Owner [Member]Class 3 [Member] | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member]Non-Controlling Interests [Member] | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member]Class 3 [Member] | The Series of Frontier Funds [Member]Frontier Diversified Fund [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member]Limited Owners [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member]Limited Owners [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member]Limited Owners [Member]Class 3 [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member]Managing Owner [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member]Managing Owner [Member]Class 3 [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member]Non-Controlling Interests [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member]Class 3 [Member] | The Series of Frontier Funds [Member]Frontier Masters Fund [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Limited Owners [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Limited Owners [Member]Class 3 [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Limited Owners [Member]Class 1a [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Limited Owners [Member]Class 2a [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Limited Owners [Member]Class 3a [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Managing Owner [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Managing Owner [Member]Class 2a [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Managing Owner [Member]Class 3a [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Non-Controlling Interests [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member]Class 3 [Member] | The Series of Frontier Funds [Member]Frontier Long/Short Commodity Fund [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Limited Owners [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Limited Owners [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Limited Owners [Member]Class 2a [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Limited Owners [Member]Class 3a [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Limited Owners [Member]Class 1AP [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Managing Owner [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Managing Owner [Member]Class 2a [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Non-Controlling Interests [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member]Class 1AP [Member] | The Series of Frontier Funds [Member]Frontier Balanced Fund [Member] | The Series of Frontier Funds [Member]Frontier Select Fund [Member]Limited Owners [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Select Fund [Member]Limited Owners [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Select Fund [Member]Limited Owners [Member]Class 1AP [Member] | The Series of Frontier Funds [Member]Frontier Select Fund [Member]Managing Owner [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Select Fund [Member]Non-Controlling Interests [Member] | The Series of Frontier Funds [Member]Frontier Select Fund [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Select Fund [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Select Fund [Member]Class 1AP [Member] | The Series of Frontier Funds [Member]Frontier Select Fund [Member] | The Series of Frontier Funds [Member]Frontier Global Fund [Member]Limited Owners [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Global Fund [Member]Limited Owners [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Global Fund [Member]Limited Owners [Member]Class 1AP [Member] | The Series of Frontier Funds [Member]Frontier Global Fund [Member]Managing Owner [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Global Fund [Member]Non-Controlling Interests [Member] | The Series of Frontier Funds [Member]Frontier Global Fund [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Global Fund [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Global Fund [Member]Class 1AP [Member] | The Series of Frontier Funds [Member]Frontier Global Fund [Member] | The Series of Frontier Funds [Member]Frontier Heritage Fund [Member]Limited Owners [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Heritage Fund [Member]Limited Owners [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Heritage Fund [Member]Limited Owners [Member]Class 1AP [Member] | The Series of Frontier Funds [Member]Frontier Heritage Fund [Member]Managing Owner [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Heritage Fund [Member]Non-Controlling Interests [Member] | The Series of Frontier Funds [Member]Frontier Heritage Fund [Member]Class 1 [Member] | The Series of Frontier Funds [Member]Frontier Heritage Fund [Member]Class 2 [Member] | The Series of Frontier Funds [Member]Frontier Heritage Fund [Member]Class 1AP [Member] | The Series of Frontier Funds [Member]Frontier Heritage Fund [Member] | Frontier Funds [Member]Limited Owners [Member] | Frontier Funds [Member]Managing Owner [Member] | Frontier Funds [Member] |
Owners' Capital, Beginning balance at Dec. 31, 2019 | $ 1,303,195 | $ 5,597,828 | $ 4,979,641 | $ 3,023 | $ 115,933 | $ 11,999,620 | $ 12,794 | $ 837,765 | $ 1,365,209 | $ 13,043 | $ 9,228 | $ 2,238,039 | $ 36,515 | $ 991,828 | $ 11,447 | $ 73,965 | $ 207,151 | $ 4,530 | $ 7,861 | $ 993 | $ 1,334,290 | $ 17,797,600 | $ 3,288,105 | $ 44,048 | $ 900,583 | $ 238,544 | $ 73,748 | $ 151,133 | $ 22,493,761 | $ 2,715,051 | $ 60,910 | $ 10,834 | $ 29,831 | $ 2,816,626 | $ 4,471,980 | $ 293,159 | $ 33,047 | $ 50,058 | $ 4,848,244 | $ 2,295,623 | $ 493,464 | $ 8,333 | $ 28,593 | $ 479,024 | $ 3,305,037 | $ 48,068,619 | $ 487,974 | $ 48,556,593 | ||||||||||||||||||||||||||
Sale of Units (including transfers) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of Units (including transfers) | (960,563) | (2,575,772) | 526,469 | (11,000) | (3,020,866) | (133,322) | (234,902) | (1,000) | (369,224) | (1,422) | (51,417) | (2,343) | (55,182) | (1,718,878) | (165,206) | (42,302) | (9,000) | (1,935,386) | (677,150) | (5,198) | 0 | (3,500) | (685,848) | (876,783) | (119,501) | 0 | (11,000) | 0 | (1,007,284) | (74,142) | 0 | (1,000) | (75,142) | (7,148,924) | (7,148,924) | |||||||||||||||||||||||||||||||||||||||
Payment made by the Managing Owner | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment made by Related Party | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operations attributable to non-controlling interests | (95,914) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfer of Units In(Out) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase/(decrease) in Owners' Capital resulting from operations attributable to controlling interests | (155,832) | (1,056,559) | (1,425,997) | (788) | (29,573) | (2,668,748) | (1,866) | (104,313) | (159,208) | (1,697) | (1,267) | (268,351) | 713 | 21,089 | 105 | 1,333 | 4,047 | 90 | 142 | 18 | 27,537 | (5,563,907) | (1,026,592) | (14,069) | (285,260) | (76,232) | (23,568) | (47,597) | (7,037,224) | (206,376) | (3,572) | (748) | (1,827) | (212,523) | (245,521) | (3,640) | (2,014) | (1,601) | (252,776) | (21,374) | 2,134 | 36 | 242 | (479,024) | (18,962) | (10,287,125) | (143,922) | (10,431,047) | ||||||||||||||||||||||||||
Owners' Capital, Ending balance at Jun. 30, 2020 | $ 186,800 | $ 1,965,497 | $ 4,080,113 | $ 2,235 | $ 75,360 | $ 6,310,005 | $ 10,929 | $ 600,130 | $ 971,099 | $ 10,347 | $ 7,962 | $ 1,600,467 | $ 35,806 | $ 961,500 | $ 11,552 | $ 75,299 | $ 208,855 | $ 4,620 | $ 8,003 | $ 1,012 | $ 1,306,647 | $ 10,514,816 | $ 2,096,307 | $ 29,979 | $ 573,021 | $ 162,312 | $ 50,180 | $ 94,536 | $ 13,521,152 | $ 1,831,525 | $ 52,140 | $ 10,086 | $ 24,504 | $ 1,918,255 | $ 3,349,676 | $ 170,019 | $ 31,034 | $ 37,458 | $ 3,588,187 | $ 2,200,107 | $ 495,598 | $ 8,369 | $ 27,835 | $ 2,731,909 | $ 30,632,570 | $ 344,052 | $ 30,976,622 | |||||||||||||||||||||||||||
Owners' Capital - Units, Beginning balance at Dec. 31, 2019 | 12,890 | 46,042 | 43,832 | 25 | 1,021 | 12,890 | 46,067 | 44,853 | 177 | 9,610 | 16,693 | 149 | 113 | 177 | 9,759 | 16,806 | 447 | 11,581 | 259 | 1,408 | 3,745 | 56 | 149 | 18 | 503 | 11,581 | 151,814 | 17,695 | 274 | 5,611 | 1,731 | 397 | 938 | 151,814 | 18,092 | 1,731 | 40,793 | 585 | 138 | 288 | 40,793 | 873 | 138 | 34,003 | 1,520 | 214 | 260 | 34,003 | 1,780 | 214 | 23,536 | 3,213 | 73 | 186 | 23,536 | 3,399 | 73 | |||||||||||||||||
Owners' Capital - Units, Sale of Units (including transfers) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Owners' Capital - Units, Redemption of Units (including transfers) | (10,369) | (24,175) | 4,687 | (124) | (1,621) | (2,931) | (12) | (18) | (574) | (41) | (18,016) | (1,115) | (365) | (76) | (10,790) | (47) | (34) | (6,474) | (581) | (53) | (739) | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Owners' Capital - Units, Ending balance at Jun. 30, 2020 | 2,521 | 21,867 | 48,519 | 25 | 897 | 2,521 | 21,892 | 49,416 | 177 | 7,989 | 13,762 | 137 | 113 | 177 | 8,126 | 13,875 | 429 | 11,007 | 259 | 1,408 | 3,704 | 56 | 149 | 18 | 485 | 11,007 | 133,798 | 16,580 | 274 | 5,246 | 1,731 | 397 | 862 | 133,798 | 16,977 | 1,731 | 30,003 | 538 | 138 | 254 | 30,003 | 792 | 138 | 27,529 | 939 | 214 | 207 | 27,529 | 1,146 | 214 | 22,797 | 3,213 | 73 | 181 | 22,797 | 3,394 | 73 | |||||||||||||||||
Net asset value per unit, Beginning balance at Dec. 31, 2019 | $ 101.10 | $ 121.58 | $ 113.61 | $ 72.28 | $ 87.18 | $ 81.78 | $ 81.6 | $ 85.64 | $ 44.2 | $ 52.55 | $ 55.31 | $ 117.23 | $ 185.82 | $ 161.04 | $ 160.5 | $ 137.81 | $ 66.56 | $ 103.94 | $ 78.51 | $ 131.52 | $ 192.82 | $ 154.43 | $ 97.54 | $ 153.59 | $ 114.15 | |||||||||||||||||||||||||||||||||||||||||||||||||
Change in net asset value per unit for the six months ended June 30, 2020 | (27.01) | (31.70) | (29.52) | (10.36) | (12.05) | (11.22) | 1.67 | 1.71 | 0.38 | 0.94 | 1.07 | (38.64) | (59.38) | (51.43) | 51.26 | (44.05) | (5.52) | (7.19) | (5.61) | (9.84) | (11.73) | (9.08) | (1.03) | 0.65 | 1.10 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value per unit, Ending balance at Jun. 30, 2020 | $ 74.09 | $ 89.88 | $ 84.09 | $ 61.92 | $ 75.13 | $ 70.56 | $ 83.27 | $ 87.35 | $ 44.58 | $ 53.49 | $ 56.38 | $ 78.59 | $ 126.44 | $ 109.61 | $ 109.24 | $ 93.76 | $ 61.04 | $ 96.75 | $ 72.90 | $ 121.68 | $ 181.09 | $ 145.35 | $ 96.51 | $ 154.24 | $ 115.25 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | ||
Cash Flows from Operating Activities: | ||
Net increase/(decrease) in capital resulting from operations | $ (2,668,748) | $ 77,770 |
Change in: | ||
Net change in ownership allocation of U.S. Treasury securities | 533,930 | 1,441,552 |
Net unrealized gain/(loss) on swap contracts | 2,024,174 | 39,055 |
Net unrealized gain/(loss) on U.S. Treasury securities | (27,341) | 425 |
Net realized gain/(loss) on U.S. Treasuries securities | (20,030) | 590 |
Net unrealized gain/(loss) on private investment companies | (769,326) | (929,678) |
Net realized gain/(loss) on private investment companies | (1,243,996) | 449,834 |
(Purchases) sales of: | ||
Sales of U.S. Treasury securities | 297,067 | 1,406,847 |
(Purchases) of U.S. Treasury securities | (797,978) | (1,487,212) |
U.S. Treasury interest and premium paid/amortized | ||
(Purchases) of Private Investment Companies | 1,958,493 | (4,595,325) |
Reduction of collateral in Swap contracts | (269,147) | 1 |
Sale of Private Investment Companies | 4,142,600 | 4,959,128 |
Increase and/or decrease in: | ||
Investments in unconsolidated trading companies, at fair value | 8,093 | 1,142,867 |
Interest receivable | 1,657 | 28,193 |
Other assets | 170,381 | (6,153) |
Redemptions receivable from private investment companies | (235,089) | |
Incentive fees payable to Managing Owner | 6,380 | |
Management fees payable to Managing Owner | (3,875) | |
Trading fees payable to Managing Owner | (19,853) | (7,845) |
Service fees payable to Managing Owner | (2,690) | (2,034) |
Subscriptions in advance for service fee rebates | 118 | 2,675 |
Other liabilities | ||
Net cash provided by (used in) operating activities | 3,082,315 | 2,523,195 |
Cash Flows from Financing Activities: | ||
Payment for redemption of units | (3,020,866) | (2,958,542) |
Proceeds from sale of units | ||
Change in owner redemptions payable | 80,730 | |
Net cash provided by (used in) financing activities | (2,940,136) | (2,958,542) |
Net increase (decrease) in cash and cash equivalents | 142,179 | (435,347) |
Cash and cash equivalents, beginning of period | 56,263 | 472,695 |
Cash and cash equivalents, end of period | 198,442 | 37,348 |
The Series of Frontier Funds [Member] | Frontier Masters Fund [Member] | ||
Cash Flows from Operating Activities: | ||
Net increase/(decrease) in capital resulting from operations | (268,351) | (164,368) |
Change in: | ||
Net change in ownership allocation of U.S. Treasury securities | (165,522) | 155,629 |
Net unrealized gain/(loss) on swap contracts | ||
Net unrealized gain/(loss) on U.S. Treasury securities | 2,598 | (3,472) |
Net realized gain/(loss) on U.S. Treasuries securities | 6,361 | (5,397) |
Net unrealized gain/(loss) on private investment companies | (507,695) | (135,339) |
Net realized gain/(loss) on private investment companies | (711,307) | (99,767) |
(Purchases) sales of: | ||
Sales of U.S. Treasury securities | 604,026 | 154,803 |
(Purchases) of U.S. Treasury securities | (432,171) | (537,781) |
U.S. Treasury interest and premium paid/amortized | 1,478 | 2,156 |
(Purchases) of Private Investment Companies | 872,824 | (1,805,043) |
Reduction of collateral in Swap contracts | ||
Sale of Private Investment Companies | 1,085,001 | 3,618,017 |
Increase and/or decrease in: | ||
Investments in unconsolidated trading companies, at fair value | 6,972 | 738,593 |
Interest receivable | 831 | (4,593) |
Other assets | (109) | |
Redemptions receivable from private investment companies | (97,546) | |
Incentive fees payable to Managing Owner | ||
Management fees payable to Managing Owner | (8,347) | |
Trading fees payable to Managing Owner | (3,588) | (13,028) |
Service fees payable to Managing Owner | (62) | (1,549) |
Subscriptions in advance for service fee rebates | 184 | 3,665 |
Other liabilities | (499) | 1,305 |
Net cash provided by (used in) operating activities | 393,425 | 1,895,484 |
Cash Flows from Financing Activities: | ||
Payment for redemption of units | (369,224) | (1,866,318) |
Proceeds from sale of units | ||
Change in owner redemptions payable | ||
Net cash provided by (used in) financing activities | (369,224) | (1,866,318) |
Net increase (decrease) in cash and cash equivalents | 24,201 | 29,166 |
Cash and cash equivalents, beginning of period | 25,639 | 46,374 |
Cash and cash equivalents, end of period | 49,840 | 75,540 |
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | ||
Cash Flows from Operating Activities: | ||
Net increase/(decrease) in capital resulting from operations | 27,537 | (56,285) |
Change in: | ||
Net change in ownership allocation of U.S. Treasury securities | (244,354) | (245,581) |
Net unrealized gain/(loss) on swap contracts | (219,997) | 43,201 |
Net unrealized gain/(loss) on U.S. Treasury securities | 1,501 | (395) |
Net realized gain/(loss) on U.S. Treasuries securities | 7,218 | (2,705) |
Net unrealized gain/(loss) on private investment companies | (177,059) | (714,483) |
Net realized gain/(loss) on private investment companies | (349,843) | 702,242 |
(Purchases) sales of: | ||
Sales of U.S. Treasury securities | 544,727 | 519,007 |
(Purchases) of U.S. Treasury securities | (295,190) | (204,172) |
U.S. Treasury interest and premium paid/amortized | 1,119 | 1,135 |
(Purchases) of Private Investment Companies | 658,598 | (951,165) |
Reduction of collateral in Swap contracts | 1 | |
Sale of Private Investment Companies | 184,908 | 1,067,767 |
Increase and/or decrease in: | ||
Investments in unconsolidated trading companies, at fair value | 8,278 | 15,401 |
Interest receivable | 1,099 | 1,468 |
Other assets | (173) | |
Redemptions receivable from private investment companies | (39,796) | |
Incentive fees payable to Managing Owner | 60,871 | |
Management fees payable to Managing Owner | ||
Trading fees payable to Managing Owner | (1,042) | (513) |
Service fees payable to Managing Owner | (47) | |
Subscriptions in advance for service fee rebates | ||
Other liabilities | (534) | 521 |
Net cash provided by (used in) operating activities | 106,997 | 236,268 |
Cash Flows from Financing Activities: | ||
Payment for redemption of units | (55,182) | (271,454) |
Proceeds from sale of units | ||
Change in owner redemptions payable | (6,585) | |
Net cash provided by (used in) financing activities | (61,767) | (271,454) |
Net increase (decrease) in cash and cash equivalents | 45,230 | (35,186) |
Cash and cash equivalents, beginning of period | 34,272 | 61,600 |
Cash and cash equivalents, end of period | 79,502 | 26,414 |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | ||
Cash Flows from Operating Activities: | ||
Net increase/(decrease) in capital resulting from operations | (7,037,224) | (323,116) |
Change in: | ||
Net change in open trade equity, at fair value | 124,301 | 178,512 |
Net change in ownership allocation of U.S. Treasury securities | (70,073) | 1,389,637 |
Net unrealized gain/(loss) on swap contracts | 5,635,109 | 103,896 |
Net unrealized gain/(loss) on U.S. Treasury securities | 5,025 | (5,068) |
Net realized gain/(loss) on U.S. Treasuries securities | 26,115 | (8,349) |
Net unrealized gain/(loss) on private investment companies | (636,269) | (1,466,941) |
Net realized gain/(loss) on private investment companies | (1,805,553) | 761,338 |
(Purchases) sales of: | ||
Sales of U.S. Treasury securities | 2,006,589 | 728,520 |
(Purchases) of U.S. Treasury securities | (1,896,782) | (2,072,160) |
U.S. Treasury interest and premium paid/amortized | 6,320 | 24,862 |
(Purchases) of Private Investment Companies | 1,632,758 | (8,269,446) |
Reduction of collateral in Swap contracts | (1,178,696) | |
Sale of Private Investment Companies | 3,201,789 | 13,419,925 |
Increase and/or decrease in: | ||
Investments in unconsolidated trading companies, at fair value | 32,182 | 1,738,769 |
Interest receivable | 3,840 | 1,224 |
Receivable from futures commission merchants | 1,902,708 | (285,900) |
Control of ownership of trading companies | (1,178,696) | |
Receivable from related parties | ||
Other assets | (1,194) | |
Redemptions receivable from private investment companies | 165,350 | |
Management fees payable to Managing Owner | 28 | (5,089) |
Interest payable to Managing Owner | 447 | (1,490) |
Trading fees payable to Managing Owner | (25,686) | (25,695) |
Service fees payable to Managing Owner | (17,916) | (11,564) |
Risk analysis fees payable | 55 | 867 |
Subscriptions in advance for service fee rebates | 16,002 | 38,353 |
Other liabilities | (2,372) | 192 |
Net cash provided by (used in) operating activities | 2,086,853 | 5,911,277 |
Cash Flows from Financing Activities: | ||
Payment for redemption of units | (1,935,386) | (6,340,452) |
Change in owner redemptions payable | (39,059) | 404,514 |
Net cash provided by (used in) financing activities | (1,974,445) | (5,935,938) |
Net increase (decrease) in cash and cash equivalents | 112,409 | (24,661) |
Cash and cash equivalents, beginning of period | 118,506 | 37,556 |
Cash and cash equivalents, end of period | 230,915 | 12,895 |
The Series of Frontier Funds [Member] | Frontier Select Fund [Member] | ||
Cash Flows from Operating Activities: | ||
Net increase/(decrease) in capital resulting from operations | (212,523) | 226,719 |
Change in: | ||
Net change in open trade equity, at fair value | ||
Net change in ownership allocation of U.S. Treasury securities | (97,145) | (483,648) |
Net unrealized gain/(loss) on swap contracts | ||
Net unrealized gain/(loss) on U.S. Treasury securities | 2,955 | 8,678 |
Net realized gain/(loss) on U.S. Treasuries securities | 3,748 | (11,151) |
Net unrealized gain/(loss) on private investment companies | (143,350) | (259,209) |
Net realized gain/(loss) on private investment companies | (282,634) | (24,501) |
(Purchases) sales of: | ||
Sales of U.S. Treasury securities | 697,463 | 711,661 |
(Purchases) of U.S. Treasury securities | (498,944) | (532,907) |
U.S. Treasury interest and premium paid/amortized | ||
(Purchases) of Private Investment Companies | (499,776) | (986,377) |
Reduction of collateral in Swap contracts | ||
Sale of Private Investment Companies | 1,340,129 | 1,856,177 |
Increase and/or decrease in: | ||
Investments in unconsolidated trading companies, at fair value | 505,281 | (64,729) |
Interest receivable | 2,266 | (6,102) |
Receivable from futures commission merchants | ||
Control of ownership of trading companies | ||
Receivable from related parties | ||
Other assets | ||
Redemptions receivable from private investment companies | (194,548) | |
Management fees payable to Managing Owner | ||
Interest payable to Managing Owner | 153 | 335 |
Trading fees payable to Managing Owner | (2,314) | (692) |
Service fees payable to Managing Owner | (1,733) | (363) |
Risk analysis fees payable | ||
Subscriptions in advance for service fee rebates | 1,536 | 3,071 |
Other liabilities | (1,198) | 8,624 |
Net cash provided by (used in) operating activities | 619,367 | 445,586 |
Cash Flows from Financing Activities: | ||
Payment for redemption of units | (685,847) | (397,886) |
Change in owner redemptions payable | 6,048 | 3,415 |
Net cash provided by (used in) financing activities | (679,799) | (394,471) |
Net increase (decrease) in cash and cash equivalents | (60,432) | 51,115 |
Cash and cash equivalents, beginning of period | 61,345 | 25,072 |
Cash and cash equivalents, end of period | 913 | 76,187 |
The Series of Frontier Funds [Member] | Frontier Global Fund [Member] | ||
Cash Flows from Operating Activities: | ||
Net increase/(decrease) in capital resulting from operations | (252,776) | 573,843 |
Change in: | ||
Net change in ownership allocation of U.S. Treasury securities | (339,450) | (1,984,466) |
Net unrealized gain/(loss) on swap contracts | ||
Net realized gain/(loss) on swap contracts | ||
Net unrealized gain/(loss) on U.S. Treasury securities | 3,714 | 29,487 |
Net realized gain/(loss) on U.S. Treasuries securities | 12,532 | (26,444) |
Net unrealized gain/(loss) on private investment companies | 504,048 | (1,553,914) |
Net realized gain/(loss) on private investment companies | 417,626 | 366,129 |
(Purchases) sales of: | ||
Sales of swap contracts | ||
Sales of U.S. Treasury securities | 833,751 | 7,982,042 |
(Purchases) of U.S. Treasury securities | (484,934) | (3,068,733) |
(Purchases) of Private Investment Companies | (1,200,262) | (4,888,335) |
Reduction of collateral in Swap contracts | ||
Sale of Private Investment Companies | 1,699,632 | 111,332 |
Increase and/or decrease in: | ||
Investments in unconsolidated trading companies, at fair value | 8,559 | 4,273,691 |
Interest receivable | 917 | 60,550 |
Advance on unrealized Swap Appreciation | ||
Other assets | ||
Redemptions receivable from private investment companies | (103,858) | |
Incentive fees payable to Managing Owner | ||
Management fees payable to Managing Owner | (42,705) | |
Interest payable to Managing Owner | 110 | (7,464) |
Trading fees payable to Managing Owner | (6,875) | (1,231) |
Service fees payable to Managing Owner | (3,384) | (4,877) |
Risk analysis fees payable | ||
Subscriptions in advance for service fee rebates | 2,689 | 11,786 |
Other liabilities | (628) | 8,661 |
Net cash provided by (used in) operating activities | 1,091,411 | 1,839,352 |
Cash Flows from Financing Activities: | ||
Payment for redemption of units | (1,007,284) | (2,765,677) |
Change in non-controlling interest | ||
Change in owner redemptions payable | (71,379) | 12,892 |
Net cash provided by (used in) financing activities | (1,078,663) | (2,752,785) |
Net increase (decrease) in cash and cash equivalents | 12,748 | (913,433) |
Cash and cash equivalents, beginning of period | 27,532 | 951,485 |
Cash and cash equivalents, end of period | 40,280 | 38,052 |
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | ||
Cash Flows from Operating Activities: | ||
Net increase/(decrease) in capital resulting from operations | 355,249 | 355,249 |
Change in: | ||
Net change in ownership allocation of U.S. Treasury securities | (308,700) | (269,385) |
Net unrealized gain/(loss) on swap contracts | (197,829) | (81,229) |
Net realized gain/(loss) on swap contracts | (97,745) | |
Net unrealized gain/(loss) on U.S. Treasury securities | 6,967 | 2,613 |
Net realized gain/(loss) on U.S. Treasuries securities | 9,787 | (6,140) |
Net unrealized gain/(loss) on private investment companies | (75,226) | (516,272) |
Net realized gain/(loss) on private investment companies | (1,135) | 73,928 |
(Purchases) sales of: | ||
Sales of swap contracts | 1,491,965 | |
Sales of U.S. Treasury securities | 539,191 | 1,153,896 |
(Purchases) of U.S. Treasury securities | (431,944) | (693,759) |
(Purchases) of Private Investment Companies | (301,869) | (728,774) |
Reduction of collateral in Swap contracts | 1,691,617 | |
Sale of Private Investment Companies | 617,306 | 715,892 |
Increase and/or decrease in: | ||
Investments in unconsolidated trading companies, at fair value | (18,113) | 702,444 |
Interest receivable | 734 | 4,013 |
Advance on unrealized Swap Appreciation | (1,900,000) | |
Other assets | (364) | |
Redemptions receivable from private investment companies | (27,205) | |
Incentive fees payable to Managing Owner | 697 | |
Management fees payable to Managing Owner | (9,201) | |
Interest payable to Managing Owner | 539 | (603) |
Trading fees payable to Managing Owner | (3,189) | 278 |
Service fees payable to Managing Owner | (430) | (444) |
Risk analysis fees payable | ||
Subscriptions in advance for service fee rebates | 3,296 | 6,996 |
Other liabilities | (1,488) | 1,495 |
Net cash provided by (used in) operating activities | 977,203 | 711,694 |
Cash Flows from Financing Activities: | ||
Payment for redemption of units | (75,142) | (801,308) |
Change in non-controlling interest | (479,024) | |
Change in owner redemptions payable | (9,735) | 4,696 |
Net cash provided by (used in) financing activities | (563,901) | (796,612) |
Net increase (decrease) in cash and cash equivalents | 413,302 | (84,918) |
Cash and cash equivalents, beginning of period | 44,011 | 135,096 |
Cash and cash equivalents, end of period | 457,313 | 50,178 |
Frontier Funds [Member] | ||
Cash Flows from Operating Activities: | ||
Net increase/(decrease) in capital resulting from operations | (10,431,047) | 650,430 |
Change in: | ||
Net change in open trade equity, at fair value | 124,301 | (440,336) |
Net unrealized gain/(loss) on swap contracts | 7,241,457 | 104,923 |
Net realized gain/(loss) on swap contracts | (189,734) | |
Net unrealized gain/(loss) on U.S. Treasury securities | (4,581) | 32,268 |
Net realized gain/(loss) on U.S. Treasuries securities | 45,731 | (59,596) |
Net unrealized gain/(loss) on private investment companies | (2,327,472) | (4,859,737) |
Net realized gain/(loss) on private investment companies | (3,974,277) | 1,792,671 |
(Purchases) sales of: | ||
Sales of swap contracts | 1,491,965 | |
(Purchases) of swap contracts | (4,338,268) | (8,596,723) |
Sales of U.S. Treasury securities | 4,928,672 | 12,656,776 |
U.S. Treasury interest and premium paid/amortized | 9,780 | 28,153 |
(Purchases) of Private Investment Companies | 3,300,220 | (22,654,399) |
Reduction of collateral in Swap contracts | (1,564,238) | |
Sale of Private Investment Companies | 12,086,455 | 26,557,496 |
Increase and/or decrease in: | ||
Interest receivable | 11,344 | 84,753 |
Receivable from futures commission merchants | 1,902,708 | 8,286,649 |
Other assets | (3,365) | (6,153) |
Redemptions receivable from private investment companies | (360,786) | |
Incentive fees payable to Managing Owner | 67,948 | |
Management fees payable to Managing Owner, net of change in receivable | 28 | (69,217) |
Interest payable to Managing Owner | 1,249 | (9,222) |
Trading fees payable to Managing Owner | (62,547) | (146,967) |
Service fees payable to Managing Owner | (26,215) | 77,363 |
Risk analysis fees payable | 55 | (17,568) |
Subscriptions in advance for service fee rebates | 23,958 | 66,682 |
Other liabilities | (6,852) | 16,659 |
Net cash provided by (used in) operating activities | 7,878,541 | 13,562,853 |
Cash Flows from Financing Activities: | ||
Redemption of Units (including transfers) | (7,148,924) | (15,401,634) |
Redemptions payable | (39,980) | 425,517 |
Net cash provided by (used in) financing activities | (7,188,904) | (14,976,117) |
Net increase (decrease) in cash and cash equivalents | 689,637 | (1,413,264) |
Cash and cash equivalents, beginning of period | 367,568 | 1,729,879 |
Cash and cash equivalents, end of period | $ 1,057,205 | $ 316,615 |
Organization and Purpose
Organization and Purpose | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [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. Please refer to the consolidated financial statements of the Trust included within this periodic report. The Trust is a multi-advisor commodity pool, as described in Commodity Futures Trading Commission ("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"). It is managed by Frontier Fund Management LLC (the "Managing Owner"). 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 may be amended from time to time ("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 the combined Series of the Trust. The Trust has been organized to pool investor funds for the purpose of 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 Global Fund, and Frontier Heritage Fund, (each a "Series" and collectively, the "Series"). The Trust, with respect to the Series, may issue additional Series of 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 (as defined below) entities. 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 entity's assets and make the trading decisions for the assets of each Series invested 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 Global 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, with respect to the Series, 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 June 30, 2020, 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 Global 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, Chesapeake Capital Management, LLC's Diversified 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 entities, 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 entities, their assets are split between investments in Trading Companies and investments in the pooled cash management account. Each of the 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, bad faith or willful misconduct. |
Frontier Funds [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 Global 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 (as defined below) entities. 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 entity's assets and make the trading decisions for the assets of each Series invested 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 Global 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, are maintained in the books and records of each Series. As of June 30, 2020, 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 Global 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, Chesapeake Capital Management, LLC's Diversified 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, 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 entities, 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 entities, their assets are split between investments in Trading Companies and investments in the pooled cash management account. As of June 30, 2020, Frontier Global Fund has invested a portion of its assets in a single Trading Company, and a single Trading Advisor manages 100% of the assets invested in such Trading Company. 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, bad faith or willful misconduct. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [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 Series, there are other non-affiliated investors in Galaxy Plus entities. Subscriptions and redemptions by these non-affiliated investors will have a direct impact on the Series' ownership percentage in Galaxy Plus entities. 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. Change in Consolidation Method 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 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 is recognized in the period earned and the instruments are marked-to-market daily based on third-party information. Transaction costs are recognized as incurred and reflected separately in the 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 The 2016 through 2019 tax years generally remain subject to examination by U.S. federal and most state tax authorities. 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 Each Series is charged service fees as outlined above. In some cases, amounts paid to selling agents might be less than the amount charged to the Series. When this occurs, the service fee is rebated back to the investor in the form of additional units. During 2017, 2018 and 2019 the Series were not allowed to issue additional units. The Managing Owner has determined that the purchase of additional units of the relevant Series will commence in 2020 at such time as the Series are allowed to sell shares again. As such, the Managing Owner has calculated the amounts for additional units of the relevant series which will be purchased and classified such amounts as Subscriptions in advance for service fee rebates of $22,649, $353, $31,725, $335,700, $18,431, $152,714 and $60,428 for the Frontier Diversified, Long/Short Commodity, Masters, Balanced, Select, Global and Heritage Funds, respectively, as of June 30, 2020, These service fees are part of the offering costs of the Trust, with respect to the Series, 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— Recently Adopted Accounting Pronouncements— Subsequent Events—The Series follow the provisions of ASC 855, Subsequent Events |
Frontier Funds [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 entities. Subscriptions and redemptions by these non-affiliated investors will have a direct impact on the Trust's ownership percentage in Galaxy Plus entities. 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. Change in Consolidation Method— 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 Each Series is charged service fees as outlined above. In some cases, amounts paid to selling agents might be less than the amount charged to the Series. When this occurs, the service fee is rebated back to the investor in the form of additional units. During 2017, 2018 and 2019, the Series were not allowed to issue additional units. The Managing Owner has determined that the purchase of additional units of the relevant Series will commence in 2020 as such time the Series are allowed to sell shares again. As such, the Managing Owner has calculated the amounts for additional units of the relevant series which will be purchased and classified such amounts as Subscriptions in advance for service fee rebates of $598,042 and $622,000 as of December 31, 2019 and June 30, 2020, respectively. These service fees are part of the offering costs of the Trust, which include registration and filing fees, legal and blue1 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— Recently Adopted Accounting Pronouncements— Subsequent Events Subsequent Events |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [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. Swap contracts are reported at fair value. Valuation reports are generated and disseminated daily from the swap counterparty to the third-party administrator. The fair value is applied by the third-party administrator to calculate the daily performance. The Managing Owner reviews the third-party administrator's performance reports and any noticeable exceptions are investigated. Unexplained exceptions are escalated to the Managing Owner's Valuation Committee for further evaluation and resolution. Swap contracts are reported at fair value using Level 3 inputs. Investment in Unconsolidated Trading Companies. Investments in Private Investment Companies The following table summarizes investment in each Series measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value. June 30, 2020 Level 1 Level 2 Level 3 Total Frontier Diversified Fund Investment in Unconsolidated Trading Companies $ 16,057 $ - $ - $ 16,057 Swap Contracts - - 4,629,556 4,629,556 U.S. Treasury Securities 113,957 - - 113,957 Frontier Masters Fund Investment in Unconsolidated Trading Companies 4,033 - - 4,033 U.S. Treasury Securities 28,621 - - 28,621 Frontier Long/Short Commodity Fund Investment in Unconsolidated Trading Companies 6,433 - - 6,433 Swap Contracts - - 582,519 582,519 U.S. Treasury Securities 45,654 - - 45,654 Frontier Balanced Fund Investment in Unconsolidated Trading Companies 18,685 - - 18,685 Open Trade Equity (Deficit) (8,117 ) - - (8,117 ) Swap Contracts - - 7,488,340 7,488,340 U.S. Treasury Securities 132,605 - - 132,605 Frontier Select Fund - Investment in Unconsolidated Trading Companies 74 - - 74 U.S. Treasury Securities 524 - - 524 Frontier Global Fund - Investment in Unconsolidated Trading Companies 3,259 - - 3,259 U.S. Treasury Securities 23,131 - - 23,131 Frontier Heritage Fund Investment in Unconsolidated Trading Companies 37,004 - - 37,004 U.S. Treasury Securities 262,615 - - 262,615 December 31, 2019 Level 1 Level 2 Level 3 Total Frontier Diversified Fund Investment in Unconsolidated Trading Companies $ 24,150 $ - $ - $ 24,150 Swap Contracts - - 6,384,583 6,384,583 U.S. Treasury Securities 99,605 - - 99,605 Frontier Masters Fund Investment in Unconsolidated Trading Companies 11,005 - - 11,005 U.S. Treasury Securities 45,391 - - 45,391 Frontier Long/Short Commodity Fund Investment in Unconsolidated Trading Companies 14,711 - - 14,711 Swap Contracts - - 362,521 362,521 U.S. Treasury Securities 60,673 - - 60,673 Frontier Balanced Fund Investment in Unconsolidated Trading Companies 50,867 - - 50,867 Open Trade Equity (Deficit) 57,057 59,127 - 116,184 Swap Contracts - - 11,944,753 11,944,753 U.S. Treasury Securities 209,799 - - 209,799 Frontier Select Fund Investment in Unconsolidated Trading Companies 26,331 - 479,024 505,355 U.S. Treasury Securities 108,603 - - 108,603 Frontier Global Fund Investment in Unconsolidated Trading Companies 11,818 - - 11,818 U.S. Treasury Securities 48,741 - - 48,741 Frontier Heritage Fund Investment in Unconsolidated Trading Companies 18,891 - - 18,891 Swap Contracts - - 2,888,008 2,888,008 U.S. Treasury Securities 77,916 - - 77,916 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 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 six months ended June 30, 2020 and the year ended December 2019, 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 Six Months Ending June 30, 2020 Swaps Frontier Frontier Balance of recurring Level 3 assets as of January 1, 2020 $ 11,944,753 $ 362,521 Total gains or losses (realized/unrealized): Included in earnings-realized - Included in earnings-unrealized (5,635,109 ) 219,997 Proceeds from collateral reduction - - Purchase of investments 1,178,696 - Change in ownership allocation - - Transfers in and/or out of Level 3 - - Balance of recurring Level 3 assets as of June 30, 2020 $ 7,488,340 $ 582,518 Frontier Frontier Balance of recurring Level 3 assets as of January 1, 2020 $ 6,384,583 $ 2,888,009 Total gains or losses (realized/unrealized): Included in earnings-realized - (97,745 ) Included in earnings-unrealized (2,024,174 ) 197,829 Proceeds from collateral reduction - (2,474,937 ) Purchase (sale) of investments 269,147 (513,156 ) Change in ownership allocation - - Transfers in and/or out of Level 3 - - Balance of recurring Level 3 assets as of June 30, 2020 $ 4,629,556 $ 0 For the Six Months ending June 30, 2020 Investments in Unconsolidated Trading Companies: Frontier Balance of recurring Level 3 assets as of January 1, 2020 $ 479,024 Change in fair value of investments in unconsolidated trading companies - Proceeds from sales of investments of unconsolidated trading companies (479,024 ) 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 June 30, 2020 $ 0 For the Year Ended December 31, 2019 Swaps Frontier Frontier Balance of recurring Level 3 assets as of January 1, 2019 $ 10,794,908 $ 479,102 Total gains or losses (realized/unrealized): Included in earnings-realized - - Included in earnings-unrealized 1,149,845 (116,581 ) Proceeds from collateral reduction - - Change in ownership allocation - - Transfers in and/or out of Level 3 - - Balance of recurring Level 3 assets as of December 31, 2019 $ 11,944,753 $ 362,521 Frontier Frontier Balance of recurring Level 3 assets as of January 1, 2019 $ 5,920,414 $ 2,955,444 Total gains or losses (realized/unrealized): Included in earnings-realized - - Included in earnings-unrealized 464,169 (67,435 ) Proceeds from collateral reduction - - Change in ownership allocation - - Transfers in and/or out of Level 3 - - Balance of recurring Level 3 assets as of December 31, 2019 $ 6,384,583 $ 2,888,009 For the Year Ended December 31, 2019 Investments in Unconsolidated Trading Companies Frontier Balance of recurring Level 3 assets as of January 1, 2019 $ 511,718 Change in fair value of investments in unconsolidated trading companies (32,694 ) 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 December 31, 2019 $ 479,024 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 three months ended June 30, 2020, 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 Frontier Heritage Fund and the Frontier Select Fund jointly own the Frontier Brevan Howard swap. The Frontier Heritage Fund owned the majority interest in the Frontier Brevan Howard swap. During the quarter ended June 30, 2020, the entire investment in the Frontier Brevan Howard swap was sold. The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at June 30, 2020. Frontier Frontier Frontier Frontier Swap Contracts $ (2,024,174 ) $ 219,997 $ (5,635,109 ) $ 197,829 Frontier Investments in Unconsolidated Trading Companies $ 0 The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2019. Frontier Frontier Frontier Frontier Swap Contracts $ 464,169 $ (116,581 ) $ 1,149,845 $ (67,436 ) Frontier Investments in Unconsolidated Trading Companies $ (32,694 ) |
Frontier Funds [Member] | |
Fair Value Measurements | 3. Fair Value Measurements In connection with the valuation of investments the Trust applies ASC 820, Fair Value Measurement ("ASC 820") 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 uses the following methodologies to value instruments within its financial asset portfolio at fair value: Trading Securities. Swap Contracts. Swap contracts are reported at fair value. Valuation reports are generated and disseminated daily from the swap counterparty to the third-party administrator. The fair value is applied by the third-party administrator to calculate the daily performance. The Managing Owner reviews the third-party administrator's performance reports and any noticeable exceptions are investigated. Unexplained exceptions are escalated to the Managing Owner's Valuation Committee for further evaluation and resolution. Swap contracts are reported at fair value using Level 3 inputs. Investments in Private Investment Companies The following table summarizes the instruments that comprise the Trust's financial asset portfolio, in aggregate, measured at fair value on a recurring basis as of June 30, 2020 and December 31,2019, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: June 30, 2020 Level 1 Level 2 Level 3 Fair Value Open Trade Equity (Deficit) $ (8,117 ) $ - $ - $ (8,117 ) Swap Contracts - - 12,700,415 12,700,415 U.S. Treasury Securities 607,107 - - 607,107 December 31, 2019 Level 1 Level 2 Level 3 Fair Value Open Trade Equity (Deficit) $ 57,056 $ 59,128 $ - $ 116,184 Swap Contracts - - 21,579,865 21,579,865 U.S. Treasury Securities 650,728 - - 650,728 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 Six Balance of recurring Level 3 assets as of January 1, 2019 21,579,865 Total gains or losses (realized/unrealized): Included in earnings-realized (189,734 ) Included in earnings-unrealized (7,241,457 ) Proceeds from collateral reduction (2,382,947 ) Purchase/(sale) of investments 934,688 Sale of investments - Transfers in and/or out of Level 3 - Balance of recurring Level 3 assets as of June 30, 2020 12,700,415 For the Year Balance of recurring Level 3 assets as of January 1, 2019 20,149,868 Total gains or losses (realized/unrealized): Included in earnings-realized - Included in earnings-unrealized 1,429,997 Proceeds from collateral reduction - Purchase of investments - Sale of investments - Transfers in and/or out of Level 3 - Balance of recurring Level 3 assets as of December 31, 2019 21,579,865 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 three months ended June 30, 2020 and December 31, 2019, 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 June 30, 2020: Swaps $(7,241,457) The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2019: Swaps $1,429,997 |
Swap Contracts
Swap Contracts | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Swap Contracts | 4. Swap Contracts In addition to authorizing Trading Advisors to manage predetermined investment levels of futures, option 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 such 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 June 30, 2020, and December 31, 2019, approximately 5.33% and 2.4% 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 Statements 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 a 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 June 30, 2020, the Frontier Balanced Fund, the Frontier Diversified Fund and the Frontier Long/Short Commodity Fund, had $6,176,555, $4,000,000, and $115,000, respectively, in cash holdings as shown in the Series' Statements of Financial Conditions 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 six months ended June 30, 2020: Frontier Frontier Frontier Total Return Total Return Total Return Counterparty DeutscheBank DeutscheBank DeutscheBank Notional Amount $ 7,420,403 $ 1,761,834 $ 653,610 Termination Date 7/31/2023 7/31/2023 7/31/2023 Cash Collateral $ 1,264,696 $ 555,147 $ 29,950 Swap Value $ 6,223,644 $ 4,274,409 $ 552,569 Investee Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $ 0 $ 0 $ 0 Change in Unrealized Gain/(Loss) $ (5,635,109 ) $ (2,024,174 ) $ 219,997 Fair Value as of June 30, 2020 $ 7,488,340 $ 4,629,556 $ 582,519 Advance on swap appreciation $ (6,176,555 ) $ (4,000,000 ) $ (115,000 ) The Series have invested in the following swaps as of and for the year ended December 31, 2019: Frontier Frontier Frontier Frontier Total Return Total Return Total Return Total Return Counterparty DeutscheBank DeutscheBank DeutscheBank DeutscheBank Notional Amount $ 7,420,403 $ 1,761,834 $ 653,610 $ 2,072,056 Termination Date 7/31/2023 7/31/2023 7/31/2023 3/27/2023 Cash Collateral $ 86,000 $ 86,000 $ 29,950 $ 975,450 Swap Value $ 11,858,754 $ 6,298,583 $ 332,571 $ 1,912,559 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $ 0 $ 0 $ 0 $ 0 Change in Unrealized Gain/(Loss) $ 1,149,846 $ 464,169 $ (116,581 ) $ (67,435 ) Fair Value as of December 31, 2019 $ 11,944,754 $ 6,384,583 $ 362,521 $ 2,888,009 Advance on swap appreciation $ (6,176,555 ) $ (4,000,000 ) $ (115,000 ) $ (1,900,000 ) |
Frontier Funds [Member] | |
Swap Contracts | 4. Swap Contracts In addition to authorizing Trading Advisors to manage predetermined 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 June 30, 2020 and December 31, 2019, approximately 5.33% or $1,649,793 and 2.4% or $1,177,400, 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. 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 June 30, 2020, the XXXIV Balanced select swap, the XXXV Diversified select swap and the XXXVII Long/Short select swap had $6,176,555, $4,000,000 and $115,000, respectively, in cash holdings as shown in the Series' Statements of Financial Conditions under advance on unrealized swap appreciation, which relates to the Trading Companies' total return swaps with Deutsche Bank AG. The Trust had invested in the following swaps as of and for the three months ended June 30, 2020: XXXIV XXXV XXXVII L/S Total Return Total Return Total Return Counterparty DeutscheBank DeutscheBank DeutscheBank Notional Amount $ 7,420,403 $ 1,761,834 $ 653,610 Termination Date 7/31/2023 7/31/2023 7/31/2023 Cash Collateral $ 1,264,696 $ 555,147 $ 29,950 Swap Value $ 6,223,644 $ 4,274,409 $ 522,569 Investee Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $ 0 $ 0 $ 0 Change in Unrealized Gain/(Loss) $ (5,635,109 ) $ (2,024,174 ) $ 219,997 Fair Value as of June 30, 2020 $ 7,488,340 $ 4,629,556 $ 582,519 Advance on swap appreciation $ (6,176,555 ) $ (4,000,000 ) $ (115,000 ) The Trust had invested in the following swaps as of and for the year ended December 31, 2019: XXXIV XXXV XXXVII L/S Brevan Total Return Total Return Total Return Total Return Counterparty DeutscheBank DeutscheBank DeutscheBank DeutscheBank Notional Amount $ 7,420,403 $ 1,761,834 $ 653,610 $ 2,072,056 Termination Date 7/31/2023 7/31/2023 7/31/2023 3/27/2023 Cash Collateral $ 86,000 $ 86,000 $ 29,950 $ 975,450 Swap Value $ 11,858,754 $ 6,298,583 $ 332,571 $ 1,912,559 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $ 0 $ 0 $ 0 $ 0 Change in Unrealized Gain/(Loss) $ 1,149,846 $ 464,169 $ (116,581 ) $ (67,435 ) Fair Value as of December 31, 2019 $ 11,944,754 $ 6,384,583 $ 362,521 $ 2,888,009 Advance on swap appreciation $ (6,176,555 ) $ (4,000,000 ) $ (115,000 ) $ (1,900,000 ) |
Investments in Unconsolidated T
Investments in Unconsolidated Trading Companies and Private Investment Companies | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [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 and open trade equity invested in the Trading Companies and private investment companies 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 June 30, 2020 and December 31, 2019: As of June 30, 2020 As of December 31, 2019 Percentage of Percentage of Series Total Series Total Capital Invested in Capital Invested in Series Unconsolidated Fair Value Unconsolidated Fair Value Frontier Diversified Series — Frontier Trading Company XXXVIII 0.25 % $ 16,057 0.20 % $ 24,150 Frontier Masters Fund — Frontier Trading Company XXXVIII 0.25 % $ 4,033 0.49 % $ 11,005 Frontier Long/Short Commodity Fund — Frontier Trading Company XXXVIII 0.49 % $ 6,433 1.10 % $ 14,711 Frontier Balanced Fund — Frontier Trading Company XXXVIII 0.14 % $ 18,685 0.23 % $ 50,867 Frontier Select Fund — Frontier Trading Companies XXXVIII and XXXIX* 0.01 % $ 74 17.94 % $ 505,355 Frontier Global Fund — Frontier Trading Company XXXVIII 0.08 % $ 3,259 0.25 % $ 11,818 Frontier Heritage Fund — Frontier Trading Company XXXVIII 1.35 % $ 37,004 0.57 % $ 18,891 * The investment in Frontier Trading Company XXXIX was sold as of June 30, 2020. The Galaxy Plus structure is made up of feeder funds in which the Series invest and master trading entities into which the feeder funds invest. No investment held by a Galaxy Plus master trading entity is greater than 5% of the Series' total capital. The following tables summarize each of the Series' equity in earnings from unconsolidated Trading Companies and private investment companies for the three and six months ended June 30, 2020 and June 30, 2019. Three months ended June 30, 2020 and 2019 Three Months Ended June, 2020 Three Months Ended June, 2019 Change in Net Change in Net Trading Realized Unrealized Income Trading Realized Unrealized Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Frontier Balanced Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ 382 $ 382 Frontier Trading Company XXXVIII, LLC - - 13,836 13,836 - - (1,743 ) (1,743 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (5,100 ) (88,960 ) (255,603 ) (349,663 ) (7,956 ) 500,989 (261,813 ) 231,220 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (2,152 ) (49,427 ) 67,132 15,553 (7,282 ) 9,117 (12,265 ) (10,430 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (6,408 ) (407,643 ) 414,194 143 (104,751 ) (3,311,760 ) 2,622,781 (793,730 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (15,974 ) (403,362 ) 546,868 127,532 (9,768 ) 526,833 (184,438 ) 332,627 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (502 ) (239,751 ) 237,492 (2,761 ) - - 305,427 305,427 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (8,555 ) (693,367 ) 349,783 (352,139 ) (21,074 ) (328,285 ) 179,439 (169,920 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - - - (105,511 ) (105,511 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (1,701 ) 79,790 (195,781 ) (117,692 ) (2,518 ) 56,051 (6,885 ) 46,648 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (12,641 ) 563,690 (927,823 ) (376,774 ) (21,136 ) 1,171,891 (437,703 ) 713,052 Total $ (53,033 ) $ (1,239,030 ) $ 250,098 $ (1,041,965 ) $ (174,485 ) $ (1,375,164 ) $ 2,097,671 $ 548,022 Frontier Global Fund Frontier Trading Company II LLC $ - $ - $ - $ - $ - $ - $ (23,564 ) $ (23,564 ) Frontier Trading Company XXXVIII, LLC - - 4,623 4,623 - - (178 ) (178 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (8,398 ) (308,501 ) (328,301 ) (645,200 ) (99,335 ) 940,770 (341,757 ) 499,678 Total $ (8,398 ) $ (308,501 ) $ (323,678 ) $ (640,577 ) $ (99,335 ) $ 940,770 $ (365,499 ) $ 475,936 Frontier Select Fund Frontier Trading Company XXXIX, LLC $ - $ - $ - $ - $ - $ - $ 63,719 $ 63,719 Frontier Trading Company XXXVIII, LLC - - (143 ) (143 ) - - (535 ) (535 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC - - (1,616 ) (1,616 ) - - - - Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (4,125 ) 170,109 (288,624 ) (122,640 ) (18,439 ) 189,845 (130,938 ) 40,468 Galaxy Plus Fund - TT Feeder Fund (531) LLC (5,392 ) (220,692 ) 226,084 - (20,114 ) 312,950 (81,412 ) 211,424 Total $ (9,517 ) $ (50,583 ) $ (64,299 ) $ (124,399 ) $ (38,553 ) $ 502,795 $ (149,166 ) $ 315,076 Frontier Heritage Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (5,368 ) $ (5,368 ) Frontier Trading Company XXXVIII, LLC - - 2,779 2,779 - - (1,597 ) (1,597 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (2,774 ) (35,321 ) (179,266 ) (217,361 ) (24,706 ) 183,352 (87,492 ) 71,154 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (3,878 ) 211,068 (336,224 ) (129,034 ) (21,610 ) 341,761 (83,040 ) 237,111 Total $ (6,652 ) $ 175,747 $ (512,711 ) $ (343,616 ) $ (46,316 ) $ 525,113 $ (177,497 ) $ 301,300 Frontier Long/Short Commodity Fund Frontier Trading Company XXXVIII, LLC $ - $ - $ 1,630 $ 1,630 $ - $ - $ (469 ) $ (469 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC - - - - - - - - Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (938 ) (41,364 ) 42,301 (1 ) (22,997 ) (636,737 ) 537,573 (122,161 ) Galaxy Plus Fund - LRR Feeder Fund (522) LLC (672 ) (117,782 ) 122,271 3,817 - - 172,203 172,203 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (1,626 ) 83,251 (131,014 ) (49,389 ) (11,740 ) 151,888 (42,868 ) 97,280 Total $ (3,236 ) $ (75,895 ) $ 35,188 $ (43,943 ) $ (34,737 ) $ (484,849 ) $ 666,439 $ 146,853 Frontier Diversified Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (711 ) $ (711 ) Frontier Trading Company XXXVIII, LLC - - 4,032 4,032 - - (403 ) (403 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (3,370 ) (56,966 ) (142,153 ) (202,489 ) (9,102 ) 292,763 (123,620 ) 160,041 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (1,348 ) (29,090 ) 38,354 7,916 (6,039 ) 5,628 (8,508 ) (8,919 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (4,119 ) (194,763 ) 198,882 - (67,124 ) (2,123,330 ) 1,689,124 (501,330 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (11,130 ) (310,674 ) 377,368 55,564 (11,268 ) 351,448 (127,805 ) 212,375 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (309 ) (148,003 ) 146,562 (1,750 ) - - 152,338 152,338 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (3,841 ) (190,864 ) 79,076 (115,629 ) (15,429 ) (184,729 ) 103,314 (96,844 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - - - (700 ) (700 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (1,514 ) 65,761 (153,963 ) (89,716 ) (2,990 ) 50,835 (9,848 ) 37,997 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (7,271 ) 382,640 (502,758 ) (127,389 ) (16,278 ) 685,223 (254,362 ) 414,583 Total $ (32,902 ) $ (481,959 ) $ 45,400 $ (469,461 ) $ (128,230 ) $ (922,162 ) $ 1,418,819 $ 368,427 Frontier Masters Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (4,502 ) $ (4,502 ) Frontier Trading Company XXXVIII, LLC - - 4,207 4,207 - - (1,781 ) (1,781 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC - - - - - - - - Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (2,049 ) (30,225 ) (132,672 ) (164,946 ) (17,715 ) 168,928 (60,575 ) 90,638 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC - - 88 88 - - - - Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (1,540 ) 58,199 (56,659 ) - (41,279 ) (1,069,832 ) 878,048 (233,063 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (2,008 ) 117,030 (165,332 ) (50,310 ) (7,140 ) 82,721 (37,533 ) 38,048 Galaxy Plus Fund - TT Feeder Fund (531) LLC (1,851 ) (90,207 ) 92,058 - (15,303 ) 283,646 (88,757 ) 179,586 Total $ (7,448 ) $ 54,797 $ (258,310 ) $ (210,961 ) $ (81,437 ) $ (534,537 ) $ 684,900 $ 68,926 Six months ended June 30, 2020 and 2019 Six Months Ended June, 2020 Six Months Ended June, 2019 Change in Net Change in Net Trading Realized Unrealized Income Trading Realized Unrealized Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Frontier Balanced Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (138,899 ) $ (138,899 ) Frontier Trading Company XXXVIII, LLC - - (9,465 ) (9,465 ) - - (732 ) (732 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (5,100 ) 12,484 4,697 12,081 (22,370 ) 635,922 201,668 815,220 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (2,152 ) (55,735 ) 25,524 (32,363 ) (17,895 ) 46,071 (78,813 ) (50,637 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (6,408 ) (718,397 ) 81,531 (643,274 ) (173,562 ) (1,016,391 ) (35,635 ) (1,225,588 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (15,974 ) (324,444 ) 189,882 (150,536 ) (18,736 ) 1,292,724 (74,396 ) 1,199,592 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (502 ) (232,245 ) (21,665 ) (254,412 ) - - 286,677 286,677 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (8,555 ) (667,819 ) 50,898 (625,476 ) (49,975 ) (936,608 ) 185,088 (801,495 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - (25,311 ) 24,230 (121,258 ) (122,339 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (1,701 ) 56,595 (28,862 ) 26,032 (6,786 ) 45,834 20,454 59,502 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (12,641 ) 596,931 (159,436 ) 424,854 (45,648 ) 986,448 (396,129 ) 544,671 Total $ (53,033 ) $ (1,332,630 ) $ 133,104 $ (1,252,559 ) $ (360,283 ) $ 1,078,230 $ (151,975 ) $ 565,972 Frontier Global Fund Frontier Trading Company II LLC $ - $ - $ - $ - $ - $ - $ (337,431 ) $ (337,431 ) Frontier Trading Company XXXVIII, LLC - - (454 ) (454 ) - - (14,574 ) (14,574 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (8,398 ) 1,157 (79,179 ) (86,420 ) (153,661 ) 1,206,683 134,763 1,187,785 Total $ (8,398 ) $ 1,157 $ (79,633 ) $ (86,874 ) $ (153,661 ) $ 1,206,683 $ (217,242 ) $ 835,780 Frontier Select Fund Frontier Trading Company XXXIX, LLC $ - $ - $ - $ - $ - $ - $ 39,383 $ 39,383 Frontier Trading Company XXXVIII, LLC - - (6,672 ) (6,672 ) - - (1,672 ) (1,672 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC - - (1,616 ) (1,616 ) - - - - Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (4,125 ) 195,063 (52,502 ) 138,436 (33,911 ) 222,739 (47,068 ) 141,760 Galaxy Plus Fund - TT Feeder Fund (531) LLC (5,392 ) (237,723 ) (32,990 ) (276,105 ) (44,428 ) 259,691 (73,313 ) 141,950 Total $ (9,517 ) $ (42,660 ) $ (93,780 ) $ (145,957 ) $ (78,339 ) $ 482,430 $ (82,670 ) $ 321,421 Frontier Heritage Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (59,538 ) $ (59,538 ) Frontier Trading Company XXXVIII, LLC - - (3,324 ) (3,324 ) - - (4,379 ) (4,379 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (2,774 ) (1,359 ) (36,695 ) (40,828 ) (41,734 ) 245,955 67,220 271,441 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (3,878 ) 181,477 (62,681 ) 114,918 (49,687 ) 284,089 (63,499 ) 170,903 Total $ (6,652 ) $ 180,118 $ (102,700 ) $ 70,766 $ (91,421 ) $ 530,044 $ (60,196 ) $ 378,427 Frontier Long/Short Commodity Fund Frontier Trading Company XXXVIII, LLC $ - $ - $ (3,076 ) $ (3,076 ) $ - $ - $ (1,029 ) $ (1,029 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC - - - - - - - - Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (938 ) (103,100 ) 8,652 (95,386 ) (37,828 ) (379,307 ) 229,576 (187,559 ) Galaxy Plus Fund - LRR Feeder Fund (522) LLC (672 ) (116,962 ) (15,470 ) (133,104 ) - 142,869 142,869 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (1,626 ) 76,796 (19,465 ) 55,705 (24,026 ) 125,486 (44,529 ) 56,931 Total $ (3,236 ) $ (143,266 ) $ (29,359 ) $ (175,861 ) $ (61,854 ) $ (253,821 ) $ 326,887 $ 11,212 Frontier Diversified Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (76,616 ) $ (76,616 ) Frontier Trading Company XXXVIII, LLC - - 3,023 3,023 - - (8,996 ) (8,996 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (3,370 ) 31,349 10,159 38,138 (19,559 ) 379,795 103,977 464,213 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (1,348 ) (39,612 ) 17,676 (23,284 ) (14,073 ) 28,047 (48,988 ) (35,014 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (4,119 ) (463,144 ) 53,938 (413,325 ) (108,956 ) (912,164 ) 268,101 (753,019 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (11,130 ) (201,658 ) 79,262 (133,526 ) (20,998 ) 811,110 (57,565 ) 732,547 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (309 ) (144,282 ) (12,689 ) (157,280 ) - - 144,793 144,793 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (3,841 ) (244,235 ) 46,440 (201,636 ) (35,222 ) (573,436 ) 114,005 (494,653 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - (13,254 ) 10,639 (7,477 ) (10,092 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (1,514 ) 53,754 (19,897 ) 32,343 (7,948 ) 45,318 20,527 57,897 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (7,271 ) 376,073 (18,235 ) 350,567 (34,002 ) 603,982 (196,808 ) 373,172 Total $ (32,902 ) $ (631,755 ) $ 159,677 $ (504,980 ) $ (254,012 ) $ 393,291 $ 254,953 $ 394,232 Frontier Masters Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (65,952 ) $ (65,952 ) Frontier Trading Company XXXVIII, LLC - - (2,275 ) (2,275 ) - - (1,558 ) (1,558 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC - - - - - - - - Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (2,049 ) (1,588 ) (28,072 ) (31,709 ) (31,863 ) 231,766 69,765 269,668 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC - - 88 88 - - - - Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (1,540 ) (190,409 ) 31,680 (160,269 ) (81,588 ) (163,846 ) (188,680 ) (434,114 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (2,008 ) 95,916 (9,097 ) 84,811 (17,916 ) 77,286 47,910 107,280 Galaxy Plus Fund - TT Feeder Fund (531) LLC (1,851 ) (84,259 ) (10,422 ) (96,532 ) (38,936 ) 214,809 (83,135 ) 92,738 Total $ (7,448 ) $ (180,340 ) $ (18,098 ) $ (205,886 ) $ (170,303 ) $ 360,015 $ (221,650 ) $ (31,938 ) 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 – 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 – Aspect Feeder Fund (532) LLC 24 hours Daily None Multi-Strategy Galaxy Plus Fund – Welton GDP Feeder Fund (538) LLC 24 hours Daily None Option Trading Galaxy Plus Fund – Doherty Feeder Fund (528) LLC 24 hours Daily None Frontier Long/Short Commodity Fund Multi-Strategy 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 – 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 Multi-Strategy Galaxy Plus Fund – Welton GDP Feeder Fund (538) LLC 24 hours Daily None Option Trading Galaxy Plus Fund – Doherty Feeder Fund (528) LLC 24 hours Daily None Frontier Global Fund Trend Following Galaxy Plus Fund – Aspect Feeder Fund (532) LLC 24 hours Daily None Frontier Heritage Fund Multi-Strategy 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 Effective April 1, 2020, Landmark Trading Company ceased to act as a commodity trading advisor to the Trust. Effective May 30, 2020, BH-DG Systematic Trading LLP ceased to act as a commodity trading advisor to the Trust. |
Frontier Funds [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 structure is made up of feeder funds in which the Trust invests and master trading entities into which the feeder funds invest. No investment held by a 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 six months ended June 30, 2020 and 2019: Three months ended June 30, 2020 and 2019 Three Months Ended June, 2020 Three Months Ended June, 2019 Trading Realized Change in Net Trading Realized Change in Net Galaxy Plus Fund - Aspect Feeder Fund (532) LLC $ (21,691 ) $ (519,973 ) $ (1,037,995 ) $ (1,579,659 ) $ (158,814 ) $ 2,086,802 $ (875,257 ) $ 1,052,731 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (3,500 ) (78,517 ) 103,958 21,941 (13,321 ) 14,745 (20,773 ) (19,349 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (13,005 ) (585,571 ) 598,718 142 (236,151 ) (7,141,659 ) 5,727,526 (1,650,284 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (27,104 ) (714,036 ) 924,235 183,095 (21,036 ) 878,281 (312,243 ) 545,002 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (1,483 ) (505,536 ) 506,325 (694 ) - - 629,968 629,968 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (12,396 ) (884,231 ) 428,859 (467,768 ) (36,503 ) (513,014 ) 282,753 (266,764 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - - - (106,211 ) (106,211 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (3,215 ) 145,551 (349,745 ) (207,409 ) (5,508 ) 106,886 (16,733 ) 84,645 Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC - - - - - - (48,550 ) (48,550 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (7,243 ) (310,899 ) 318,142 - (35,417 ) 596,596 (170,169 ) 391,010 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (31,549 ) 1,527,788 (2,351,775 ) (855,536 ) (96,343 ) 2,623,329 (986,444 ) 1,540,542 Total $ (121,186 ) $ (1,925,424 ) $ (859,278 ) $ (2,905,888 ) $ (603,093 ) $ (1,348,034 ) $ 4,103,867 $ 2,152,740 Six months ended June 30, 2020 and 2019 Six Months Ended June, 2020 Six Months Ended June, 2019 Trading Realized Change in Net Trading Realized Change in Net Galaxy Plus Fund - Aspect Feeder Fund (532) LLC $ (21,691 ) $ 42,043 $ (129,090 ) $ (108,738 ) $ (269,187 ) $ 2,700,121 $ 577,393 $ 3,008,327 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (3,500 ) (95,347 ) 41,672 (57,175 ) (31,968 ) 74,118 (127,801 ) (85,651 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (13,005 ) (1,475,050 ) 175,801 (1,312,254 ) (401,934 ) (2,471,708 ) 273,362 (2,600,280 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (27,104 ) (526,102 ) 269,144 (284,062 ) (39,734 ) 2,103,831 (131,961 ) 1,932,136 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (1,483 ) (493,489 ) (49,824 ) (544,796 ) - 574,339 574,339 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (12,396 ) (912,054 ) 97,338 (827,112 ) (85,197 ) (1,510,044 ) 299,093 (1,296,148 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - (38,565 ) 34,869 (128,735 ) (132,431 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (3,215 ) 110,349 (48,759 ) 58,375 (14,734 ) 91,152 40,981 117,399 Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC - - - - - (80,033 ) (80,033 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (7,243 ) (321,982 ) (43,412 ) (372,637 ) (83,364 ) 474,500 (156,448 ) 234,688 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (31,549 ) 1,522,256 (321,416 ) 1,169,291 (205,190 ) 2,300,033 (700,123 ) 1,394,720 Total $ (121,186 ) $ (2,149,376 ) $ (8,546 ) $ (2,279,108 ) $ (1,169,873 ) $ 3,796,872 $ 440,067 $ 3,067,066 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 – 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 Effective April 1, 2020, Landmark Trading Company ceased to act as a commodity trading advisor to the Trust. Effective May 30, 2020, BH-DG Systematic Trading LLP ceased to act as a commodity trading advisor to the Trust. |
Transactions with Affiliates
Transactions with Affiliates | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [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 management fees or management 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— As of the date of this report, for a Series that has invested in a swap, a Trading Advisor does not receive any management fees directly from the Series for such swap, and instead the relevant Trading Advisor receives compensation via the fees embedded in the swap. As of June 30, 2020 and December 31, 2019, the management fee embedded in (i) swaps owned by Frontier Diversified Fund was 1.00% per annum, (ii) swaps owned by Frontier Balanced Fund was 1.00% per annum, (iii) swaps owned by Frontier Long/Short Commodity Fund was 1.50% per annum, and (iv) swaps owned by Frontier Select Fund was 1.00% per annum, and the Managing Owner has waived the entire management fee due to it from those Series in respect of such Series' investment in swaps. In each case, the embedded management fee was accrued on the relevant notional amount of the swap. 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 Managing Owner has determined that the purchase of additional units of the relevant series will commence in 2020. As such, the Managing Owner has calculated the amounts for additional units of the relevant series which will be purchased and classified such amounts as Subscriptions in advance for service fee rebates of $22,649, $353, $31,725, $335,700, $18,431, $152,714 and $60,428 for the Frontier Diversified, Long/Short Commodity, Masters, Balanced, Select, Global and Heritage Funds, respectively The following table summarizes fees earned by the Managing Owner for the three and six months ended June 30, 2020 and June 30, 2019, respectively. Three Months Ended June 30, 2020 Incentive Management Service Trading Frontier Diversified Fund - - 2,943 59,207 Frontier Masters Fund - - 499 29,793 Frontier Long/Short Commodity Fund - - 111 7,857 Frontier Balanced Fund - 4,704 85,674 138,508 Frontier Select Fund - - 17,932 15,445 Frontier Global Fund - - 27,786 52,118 Frontier Heritage Fund - - 17,944 28,037 Three Months Ended June 30, 2019 Incentive Management Service Trading Frontier Diversified Fund $ - $ - $ 11,366 $ 126,026 Frontier Masters Fund - 2,072 2,268 58,718 Frontier Long/Short Commodity Fund - - 152 14,365 Frontier Balanced Fund - 5,286 154,061 248,123 Frontier Select Fund - - 26.562 22,475 Frontier Global Fund - 9,531 42,779 82,598 Frontier Heritage Fund - 1,100 20,713 29,653 Six Months Ended June 30, 2020 Incentive Management Service Trading Frontier Diversified Fund $ - $ - $ 10,650 $ 163,140 Frontier Masters Fund - - 1,094 62,848 Frontier Long/Short Commodity Fund - - 222 17,497 Frontier Balanced Fund - 9,724 210,982 337,493 Frontier Select Fund - - 38,092 32,400 Frontier Global Fund - - 58,227 107,673 Frontier Heritage Fund - - 35,957 57,942 Six Months Ended June 30, 2019 Incentive Management Service Trading Frontier Diversified Fund $ - $ 2,668 $ 23,395 $ 256,330 Frontier Masters Fund - 7,665 9,754 126,036 Frontier Long/Short Commodity Fund - - 314 28,217 Frontier Balanced Fund - 13,365 324,926 527,460 Frontier Select Fund - - 52,067 45,107 Frontier Global Fund - 38,679 94,902 125,313 Frontier Heritage Fund - 7,289 43,898 56,746 The following table summarizes fees payable to the Managing Owner as of June 30, 2020 and December 31, 2019. As of June 30, 2020 Incentive Management Interest Service Trading Frontier Diversified Fund $ - $ - $ - $ 702 $ 16,024 Frontier Masters Fund - - - 142 8,085 Frontier Long/Short Commodity Fund - - - - 2,426 Frontier Balanced Fund - 8,823 552 23,719 44,493 Frontier Select Fund - - 153 5,173 3,686 Frontier Global Fund - - 166 7,879 15,665 Frontier Heritage Fund - - 705 4,932 7,981 As of December 31, 2019 Incentive Management Interest Service Trading Frontier Diversified Fund $ - $ - $ - $ 3,391 $ 35,877 Frontier Masters Fund - - - 204 11,673 Frontier Long/Short Commodity Fund - - - - 3,468 Frontier Balanced Fund - 8,795 105 41,635 70,179 Frontier Select Fund - - - 6,906 6,000 Frontier Global Fund - - 56 11,263 22,540 Frontier Heritage Fund - - 166 5,362 11,170 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. For the six months ended June 30, 2020 and 2019, 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) of average net assets less any fair market value related to swaps 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 Global Fund, Frontier Select Fund, and Frontier Heritage Fund. For the Frontier Diversified Fund, Frontier Long/Short Commodity Fund (Class 1a, Class 2a and Class 3a), 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 six months ended June 30, 2020 and 2019. Three Months Ended June 30, June 30, June 30, June 30, Gross Amount Gross Amount Ratio to Ratio to Frontier Diversified Fund Class 1 $ - $ - 0.00 % 0.00 % Frontier Diversified Fund Class 2 - - 0.00 % 0.00 % Frontier Diversified Fund Class 3 - - 0.00 % 0.00 % Frontier Masters Fund Class 1 - - 0.00 % 0.00 % Frontier Masters Fund Class 2 - - 0.00 % 0.00 % Frontier Masters Fund Class 3 - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 2 5 3 0.01 % 0.00 % Frontier Long/Short Commodity Fund Class 3 114 81 0.01 % 0.01 % Frontier Long/Short Commodity Fund Class 1a - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 2a - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 3a - - 0.00 % 0.00 % Frontier Balanced Fund Class 1 2,221 1,150 0.01 % 0.01 % Frontier Balanced Fund Class 1AP 31 19 0.01 % 0.01 % Frontier Balanced Fund Class 2 425 232 0.01 % 0.01 % Frontier Balanced Fund Class 2a 5 3 0.00 % 0.00 % Frontier Balanced Fund Class 3a 23 10 0.00 % 0.00 % Frontier Select Fund Class 1 779 1,400 0.03 % 0.01 % Frontier Select Fund Class 1AP 3 3 0.03 % 0.00 % Frontier Select Fund Class 2 26 41 0.03 % 0.01 % Frontier Global Fund Class 1 1,203 3,631 0.03 % 0.27 % Frontier Global Fund Class 1AP 11 21 0.03 % 0.27 % Frontier Global Fund Class 2 110 252 0.03 % 0.26 % Frontier Heritage Fund Class 1 728 1,196 0.03 % 0.07 % Frontier Heritage Fund Class 1AP 3 2 0.03 % 0.10 % Frontier Heritage Fund Class 2 170 255 0.03 % 0.07 % Total $ 5,857 $ 8,299 Six Months Ended June 30, June 30, June 30, June 30, Gross Amount Gross Amount Ratio to Ratio to Frontier Diversified Fund Class 1 $ - $ - 0.00 % 0.00 % Frontier Diversified Fund Class 2 - - 0.00 % 0.00 % Frontier Diversified Fund Class 3 - - 0.00 % 0.00 % Frontier Masters Fund Class 1 - - 0.00 % 0.00 % Frontier Masters Fund Class 2 - - 0.00 % 0.00 % Frontier Masters Fund Class 3 - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 2 8 9 0.02 % 0.00 % Frontier Long/Short Commodity Fund Class 3 196 208 0.02 % 0.01 % Frontier Long/Short Commodity Fund Class 1a - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 2a - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 3a - - 0.00 % 0.00 % Frontier Balanced Fund Class 1 4,400 2,881 0.03 % 0.01 % Frontier Balanced Fund Class 1AP 62 45 0.03 % 0.01 % Frontier Balanced Fund Class 2 859 555 0.03 % 0.01 % Frontier Balanced Fund Class 2a 10 7 0.01 % 0.00 % Frontier Balanced Fund Class 3a 46 23 0.01 % 0.00 % Frontier Select Fund Class 1 1,733 2,259 0.07 % 0.01 % Frontier Select Fund Class 1AP 7 3 0.06 % 0.00 % Frontier Select Fund Class 2 58 71 0.07 % 0.01 % Frontier Global Fund Class 1 1,748 22,360 0.04 % 0.27 % Frontier Global Fund Class 1AP 16 105 0.05 % 0.27 % Frontier Global Fund Class 2 151 1,286 0.05 % 0.26 % Frontier Heritage Fund Class 1 1,648 3,424 0.07 % 0.07 % Frontier Heritage Fund Class 1AP 6 3 0.07 % 0.10 % Frontier Heritage Fund Class 2 388 669 0.07 % 0.07 % Total $ 11,336 $ 33,908 |
Frontier Funds [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— Service Fees— As of June 30, 2020, the Trust had a payable to the Managing Owner in the amounts of $0, $8,823, $1,576, $98,360, and $42,547 for incentive fees, management fees, interest, trading fees, and service fees, respectively. As of December 31, 2019, the Trust had a payable to the Managing Owner in the amounts of $0, $8,795, $327, $160,907, and $68,762 for incentive fees, management fees, interest, trading fees, and service fees, respectively. For the six months ended June 30, 2020, the Managing Owner earned $0, $9,724, $2,917, $355,224, and $772,150 for incentive fees, management fees, risk analysis fees, service fees, and trading fees, respectively. For the six months ended June 30, 2019, the Managing Owner earned $0, $69,666, $2,872, $549,256, and $1,165,209 for incentive fees, management fees, risk analysis fees, service fees, and trading fees, respectively. For the three months ended June 30, 2020, the Trust paid the Managing Owner $0, $4,704, $1,411, $152,889 and $382,254 for incentive fees, management fees, risk analysis fees, service fees, and trading fees, respectively. For the three months ended June 30, 2019, the Trust paid the Managing Owner $0, $17,989, $(3,820), $257,901 and $581,958 for incentive fees, management fees, risk analysis 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 June 30, 2020 and June 30, 2019, 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 only), Frontier Long/Short Commodity Fund (Class 2 and Class 3), Frontier Global Fund, Frontier Select Fund, and Frontier Heritage Fund. For the Frontier Diversified Fund, Frontier Long/Short Commodity Fund (for the three months ended June 30, 2020, and June 30, 2019 amounts received or receivable from the Managing Owner for the difference in monthly service fees from the prepaid initial service fees Class 1a, Class 2a and Class 3a), 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 three months ended June 30, 2020 and June 30, 2019 and, the Trust paid $5,857, and $8,299, respectively of such interest income 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 | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Financial Highlights | 7. Financial Highlights The following information presents the financial highlights of the Series, for the three and six months ended June 30, 2020 and 2019. This data has been derived from the information presented in the financial statements. For the three months ended June 30, 2020 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, March 31, 2020 $ 79.15 $ 95.60 $ 89.39 $ 71.34 $ 86.18 $ 80.89 $ 47.69 $ 88.66 $ 56.98 $ 93.01 $ 60.02 Net operating results: Interest income 0.01 0.01 0.01 0.02 0.02 0.02 0.02 0.03 0.02 0.03 0.02 Expenses (0.85 ) (0.63 ) (0.58 ) (3.81 ) (1.19 ) (1.12 ) (0.69 ) (0.48 ) (0.31 ) (0.51 ) (0.33 ) Net gain/(loss) on investments, net of non-controlling interests (4.22 ) (5.09 ) (4.72 ) (5.63 ) (9.89 ) (9.23 ) (2.45 ) (4.94 ) (3.21 ) (5.18 ) (3.33 ) Net income/(loss) (5.06 ) (5.72 ) (5.30 ) (9.42 ) (11.05 ) (10.33 ) (3.12 ) (5.39 ) (3.50 ) (5.66 ) (3.64 ) Net asset value, June 30, 2020 $ 74.09 $ 89.88 $ 84.09 $ 61.92 $ 75.13 $ 70.56 $ 44.58 $ 83.27 $ 53.49 $ 87.35 $ 56.38 Ratios to average net assets Net investment income/(loss) -3.38 % -2.07 % -2.07 % -21.01 % -5.36 % -5.36 % -5.96 % -2.17 % -2.17 % -2.17 % -2.17 % Expenses before incentive fees (3)(4) 3.41 % 2.10 % 2.10 % 21.10 % 5.45 % 5.45 % 6.10 % 2.31 % 2.31 % 2.31 % 2.31 % Expenses after incentive fees (3)(4) 3.41 % 2.10 % 2.10 % 21.10 % 5.45 % 5.45 % 6.10 % 2.31 % 2.31 % 2.31 % 2.31 % Total return before incentive fees (2) -6.39 % -5.98 % -5.93 % -13.21 % -12.83 % -12.77 % -6.55 % -6.08 % -6.14 % -6.08 % -6.06 % Total return after incentive fees (2) -6.39 % -5.98 % -5.93 % -13.21 % -12.83 % -12.77 % -6.55 % -6.08 % -6.14 % -6.08 % -6.06 % Incentive fee per share - - - - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 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, March 31, 2020 $ 86.02 $ 101.87 $ 137.37 $ 119.07 $ 118.66 $ 67.48 $ 79.99 $ 106.15 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (1.35 ) (0.90 ) (17.96 ) (1.06 ) (1.05 ) (0.83 ) (0.45 ) (0.59 ) Net gain/(loss) on investments, net of non-controlling interests (6.09 ) (7.21 ) 7.02 (8.40 ) (8.37 ) (5.60 ) (6.64 ) (8.81 ) Net income/(loss) (7.43 ) (8.11 ) (10.93 ) (9.46 ) (9.42 ) (6.44 ) (7.09 ) (9.40 ) Net asset value, June 30, 2020 $ 78.59 $ 93.76 $ 126.44 $ 109.61 $ 109.24 $ 61.04 $ 72.90 $ 96.75 Ratios to average net assets Net investment income/(loss) -4.77 % -2.72 % -2.72 % -2.72 % -2.72 % -4.89 % -2.22 % -2.22 % Expenses before incentive fees (3)(4) 4.77 % 2.72 % 2.72 % 2.72 % 2.72 % 4.89 % 2.22 % 2.22 % Expenses after incentive fees (3)(4) 4.77 % 2.72 % 2.72 % 2.72 % 2.72 % 4.89 % 2.22 % 2.22 % Total return before incentive fees (2) -8.64 % -7.96 % -7.96 % -7.94 % -7.94 % -9.54 % -8.86 % -8.86 % Total return after incentive fees (2) -8.64 % -7.96 % -7.96 % -7.94 % -7.94 % -9.54 % -8.86 % -8.86 % Incentive fee per share - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Frontier Global Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, March 31, 2020 $ 145.97 $ 173.08 $ 215.64 $ 114.21 $ 135.37 $ 181.17 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (2.53 ) (1.89 ) (2.36 ) (1.76 ) (1.16 ) (1.55 ) Net gain/(loss) on investments, net of non-controlling interests (21.76 ) (25.83 ) (32.19 ) (15.94 ) (18.96 ) (25.38 ) Net income/(loss) (24.29 ) (27.73 ) (34.55 ) (17.70 ) (20.12 ) (26.93 ) Net asset value, June 30, 2020 $ 121.68 $ 145.35 $ 181.09 $ 96.51 $ 115.25 $ 154.24 Ratios to average net assets Net investment income/(loss) -7.44 % -4.70 % -4.70 % -6.79 % -3.79 % -3.79 % Expenses before incentive fees (3)(4) 7.44 % 4.70 % 4.70 % 6.79 % 3.79 % 3.79 % Expenses after incentive fees (3)(4) 7.44 % 4.70 % 4.70 % 6.79 % 3.79 % 3.79 % Total return before incentive fees (2) -16.64 % -16.02 % -16.02 % -15.50 % -14.87 % -14.87 % Total return after incentive fees (2) -16.64 % -16.02 % -16.02 % -15.50 % -14.87 % -14.87 % Incentive fee per share - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (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 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 is included in the total return. For the three months ended June 30, 2019 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, March 31, 2019 $ 100.84 $ 119.69 $ 111.62 $ 88.19 $ 104.69 $ 98.04 $ 50.14 $ 93.67 $ 58.96 $ 98.25 $ 61.96 Net operating results: Interest income 0.01 0.01 0.01 0.03 0.04 0.04 0.01 0.02 0.01 0.02 0.01 Expenses (1.69 ) (1.12 ) (1.05 ) (2.10 ) (1.68 ) (1.57 ) (0.82 ) (0.66 ) (0.41 ) (0.69 ) (0.44 ) Net gain/(loss) on investments, net of non-controlling interests 3.29 3.53 3.38 1.20 1.05 1.02 3.53 5.49 3.68 5.76 3.92 Net income/(loss) 1.60 2.42 2.34 (0.86 ) (0.59 ) (0.51 ) 2.72 4.85 3.28 5.09 3.49 Net asset value, June 30, 2019 $ 102.44 $ 122.11 $ 113.96 $ 87.33 $ 104.10 $ 97.53 $ 52.86 $ 98.52 $ 62.24 $ 103.34 $ 65.45 Ratios to average net assets Net investment income/(loss) -6.74 % -3.73 % -3.73 % -9.40 % -6.32 % -6.32 % -6.30 % -2.66 % -2.66 % -2.66 % -2.66 % Expenses before incentive fees (3)(4) 6.77 % 3.76 % 3.76 % 9.55 % 6.48 % 6.48 % 6.38 % 2.74 % 2.74 % 2.74 % 2.74 % Expenses after incentive fees (3)(4) 6.77 % 3.76 % 3.76 % 9.55 % 6.48 % 6.48 % 6.38 % 2.74 % 2.74 % 2.74 % 2.74 % Total return before incentive fees (2) 1.59 % 2.02 % 2.10 % -0.98 % -0.56 % -0.52 % 5.42 % 5.18 % 5.56 % 5.18 % 5.63 % Total return after incentive fees (2) 1.59 % 2.02 % 2.10 % -0.98 % -0.56 % -0.52 % 5.42 % 5.18 % 5.56 % 5.18 % 5.63 % Incentive fee per share - - - - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 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, March 31, 2019 $ 114.89 $ 132.01 $ 178.04 $ 154.27 $ 153.78 $ 70.76 $ 82.30 $ 107.99 Net operating results: Interest income 0.06 0.07 0.09 0.08 0.08 0.00 0.00 0.00 Expenses (2.00 ) (1.30 ) (1.76 ) (1.52 ) (1.52 ) (1.00 ) (0.52 ) (0.69 ) Net gain/(loss) on investments, net of non-controlling interests 3.41 3.91 5.28 4.66 4.57 6.27 6.56 9.66 Net income/(loss) 1.47 2.68 3.62 3.22 3.13 5.27 6.04 8.97 Net asset value, June 30, 2019 $ 116.36 $ 134.69 $ 181.66 $ 157.49 $ 156.91 $ 76.03 $ 88.34 $ 116.96 Ratios to average net assets Net investment income/(loss) -6.76 % -3.72 % -3.72 % -3.72 % -3.72 % -5.52 % -2.49 % -2.49 % Expenses before incentive fees (3)(4) 6.97 % 3.93 % 3.93 % 3.93 % 3.93 % 5.52 % 2.49 % 2.49 % Expenses after incentive fees (3)(4) 6.97 % 3.93 % 3.93 % 3.93 % 3.93 % 5.52 % 2.49 % 2.49 % Total return before incentive fees (2) 1.28 % 2.03 % 2.03 % 2.09 % 2.04 % 7.45 % 7.34 % 8.31 % Total return after incentive fees (2) 1.28 % 2.03 % 2.03 % 2.09 % 2.04 % 7.45 % 7.34 % 8.31 % Incentive fee per share - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Frontier Global Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, March 31, 2019 $ 136.33 $ 156.50 $ 195.48 $ 99.68 $ 112.44 $ 153.46 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (3.15 ) (2.42 ) (3.02 ) (1.71 ) (1.12 ) (1.46 ) Net gain/(loss) on investments, net of non-controlling interests 10.46 12.05 15.02 11.63 15.02 17.96 Net income/(loss) 7.31 9.63 12.00 9.92 13.90 16.50 Net asset value, June 30, 2019 $ 143.64 $ 166.13 $ 207.48 $ 109.60 $ 126.34 $ 169.96 Ratios to average net assets Net investment income/(loss) -9.11 % -6.07 % -6.07 % -6.76 % -3.71 % -3.71 % Expenses before incentive fees (3)(4) 9.11 % 6.07 % 6.07 % 6.76 % 3.71 % 3.71 % Expenses after incentive fees (3)(4) 9.11 % 6.07 % 6.07 % 6.76 % 3.71 % 3.71 % Total return before incentive fees (2) 5.36 % 6.15 % 6.14 % 9.95 % 12.36 % 10.75 % Total return after incentive fees (2) 5.36 % 6.15 % 6.14 % 9.95 % 12.36 % 10.75 % Incentive fee per share - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (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 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 is included in the total return. For the six months ended June 30, 2020 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, 2019 $ 101.10 $ 121.58 $ 113.61 $ 72.28 $ 87.18 $ 81.78 $ 44.20 $ 81.60 $ 52.55 $ 85.64 $ 55.31 Net operating results: Interest income 0.01 0.01 0.01 0.05 0.06 0.06 0.04 0.07 0.04 0.07 0.05 Expenses (3.31 ) (1.98 ) (1.76 ) (8.37 ) (2.64 ) (2.47 ) (1.44 ) (1.09 ) (0.70 ) (1.14 ) (0.74 ) Net gain/(loss) on investments, net of non-controlling interests (23.71 ) (29.73 ) (27.76 ) (2.04 ) (9.48 ) (8.81 ) 1.77 2.68 1.60 2.78 1.76 Net income/(loss) (27.01 ) (31.70 ) (29.52 ) (10.36 ) (12.05 ) (11.22 ) 0.37 1.67 0.94 1.71 1.07 Net asset value, June 30, 2020 $ 74.09 $ 89.88 $ 84.09 $ 61.92 $ 75.13 $ 70.56 $ 44.58 $ 83.27 $ 53.49 $ 87.35 $ 56.38 Ratios to average net assets Net investment income/(loss) -7.10 % -3.56 % -3.56 % -23.98 % -6.12 % -6.12 % -6.23 % -2.43 % -2.43 % -2.43 % -2.43 % Expenses before incentive fees (3)(4) 7.12 % 3.58 % 3.58 % 24.13 % 6.27 % 6.27 % 6.39 % 2.59 % 2.59 % 2.59 % 2.59 % Expenses after incentive fees (3)(4) 7.12 % 3.58 % 3.58 % 24.13 % 6.27 % 6.27 % 6.39 % 2.59 % 2.59 % 2.59 % 2.59 % Total return before incentive fees (2) -26.71 % -26.07 % -25.98 % -14.34 % -13.83 % -13.72 % 0.83 % 2.04 % 1.79 % 2.00 % 1.94 % Total return after incentive fees (2) -26.71 % -26.07 % -25.98 % -14.34 % -13.83 % -13.72 % 0.83 % 2.04 % 1.79 % 2.00 % 1.94 % Incentive fee per share - - - - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 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, December 31, 2019 $ 117.23 $ 137.81 $ 185.82 $ 161.04 $ 160.50 $ 66.56 $ 78.51 $ 103.94 Net operating results: Interest income 0.03 0.04 0.05 0.05 0.05 0.00 0.00 0.00 Expenses (3.37 ) (2.25 ) (3.03 ) (2.64 ) (2.62 ) (1.80 ) (0.96 ) (1.28 ) Net gain/(loss) on investments, net of non-controlling interests (35.30 ) (41.84 ) (56.41 ) (48.84 ) (48.69 ) (3.71 ) (4.65 ) (5.92 ) Net income/(loss) (38.64 ) (44.05 ) (59.38 ) (51.43 ) (51.26 ) (5.52 ) (5.61 ) (7.19 ) Net asset value, June 30, 2020 $ 78.59 $ 93.76 $ 126.44 $ 109.61 $ 109.24 $ 61.04 $ 72.90 $ 96.75 Ratios to average net assets Net investment income/(loss) -6.82 % -3.83 % -3.83 % -3.83 % -3.83 % -5.46 % -2.46 % -2.46 % Expenses before incentive fees (3)(4) 6.89 % 3.90 % 3.90 % 3.90 % 3.90 % 5.46 % 2.46 % 2.46 % Expenses after incentive fees (3)(4) 6.89 % 3.90 % 3.90 % 3.90 % 3.90 % 5.46 % 2.46 % 2.46 % Total return before incentive fees (2) -32.96 % -31.96 % -31.96 % -31.94 % -31.94 % -8.29 % -7.15 % -6.92 % Total return after incentive fees (2) -32.96 % -31.96 % -31.96 % -31.94 % -31.94 % -8.29 % -7.15 % -6.92 % Incentive fee per share - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Frontier Global 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, 2019 $ 131.52 $ 154.43 $ 192.82 $ 97.54 $ 114.15 $ 153.59 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (5.46 ) (4.07 ) (5.10 ) (3.60 ) (2.41 ) (3.23 ) Net gain/(loss) on investments, net of non-controlling interests (4.38 ) (5.00 ) (6.63 ) 2.57 3.51 3.87 Net income/(loss) (9.84 ) (9.08 ) (11.73 ) (1.03 ) 1.10 0.65 Net asset value, June 30, 2020 $ 121.68 $ 145.35 $ 181.09 $ 96.51 $ 115.25 $ 154.24 Ratios to average net assets Net investment income/(loss) -8.08 % -5.08 % -5.08 % -6.90 % -3.90 % -3.90 % Expenses before incentive fees (3)(4) 8.08 % 5.08 % 5.08 % 6.90 % 3.90 % 3.90 % Expenses after incentive fees (3)(4) 8.08 % 5.08 % 5.08 % 6.90 % 3.90 % 3.90 % Total return before incentive fees (2) -7.48 % -5.88 % -6.08 % -1.05 % 0.96 % 0.42 % Total return after incentive fees (2) -7.48 % -5.88 % -6.08 % -1.05 % 0.96 % 0.42 % Incentive fee per share - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (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 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 is included in the total return. For the six months ended June 30, 2019 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, 2018 $ 102.25 $ 120.84 $ 112.62 $ 91.10 $ 107.68 $ 100.77 $ 56.80 $ 98.82 $ 66.52 $ 103.66 $ 69.83 Net operating results: Interest income 0.04 0.05 0.05 0.04 0.05 0.05 0.03 0.05 0.03 0.05 0.03 Expenses (3.32 ) (2.16 ) (2.02 ) (3.59 ) (3.12 ) (2.92 ) (1.59 ) (1.25 ) (0.78 ) (1.31 ) (0.83 ) Net gain/(loss) on investments, net of non-controlling interests 3.47 3.38 3.31 (0.22 ) (0.51 ) (0.37 ) (2.38 ) 0.90 (3.53 ) 0.94 (3.58 ) Net income/(loss) 0.19 1.27 1.34 (3.77 ) (3.58 ) (3.24 ) (3.94 ) (0.30 ) (4.28 ) (0.32 ) (4.38 ) Net asset value, June 30, 2019 $ 102.44 $ 122.11 $ 113.96 $ 87.33 $ 104.10 $ 97.53 $ 52.86 $ 98.52 $ 62.24 $ 103.34 $ 65.45 Ratios to average net assets Net investment income/(loss) -13.31 % -7.23 % -7.23 % -16.90 % -12.15 % -12.15 % -12.58 % -5.12 % -5.12 % -5.12 % -5.12 % Expenses before incentive fees (3)(4) 13.49 % 7.40 % 7.40 % 17.10 % 12.35 % 12.35 % 12.80 % 5.34 % 5.34 % 5.34 % 5.34 % Expenses after incentive fees (3)(4) 13.49 % 7.40 % 7.40 % 17.10 % 12.35 % 12.35 % 12.80 % 5.34 % 5.34 % 5.34 % 5.34 % Total return before incentive fees (2) 0.19 % 1.05 % 1.19 % -4.14 % -3.32 % -3.22 % -6.94 % -0.30 % -6.43 % -0.31 % -6.27 % Total return after incentive fees (2) 0.19 % 1.05 % 1.19 % -4.14 % -3.32 % -3.22 % -6.94 % -0.30 % -6.43 % -0.31 % -6.27 % Incentive fee per share - - - - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 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, December 31, 2018 $ 117.63 $ 134.16 $ 180.94 $ 156.81 $ 156.26 $ 71.41 $ 82.48 $ 108.18 Net operating results: Interest income 0.10 0.12 0.16 0.14 0.14 0.00 0.00 0.00 Expenses (3.96 ) (2.60 ) (3.50 ) (3.04 ) (3.03 ) (1.92 ) (1.04 ) (1.33 ) Net gain/(loss) on investments, net of non-controlling interests 2.59 3.01 4.06 3.58 3.54 6.54 6.90 10.11 Net income/(loss) (1.27 ) 0.53 0.72 0.68 0.65 4.62 5.86 8.78 Net asset value, June 30, 2019 $ 116.36 $ 134.69 $ 181.66 $ 157.49 $ 156.91 $ 76.03 $ 88.34 $ 116.96 Ratios to average net assets Net investment income/(loss) -13.67 % -7.63 % -7.63 % -7.63 % -7.63 % -11.10 % -5.06 % -5.06 % Expenses before incentive fees (3)(4) 14.04 % 8.00 % 8.00 % 8.00 % 8.00 % 11.10 % 5.06 % 116.96 % Expenses after incentive fees (3)(4) 14.04 % 8.00 % 8.00 % 8.00 % 8.00 % 11.10 % 5.06 % 116.96 % Total return before incentive fees (2) -1.08 % 0.40 % 0.40 % 0.43 % 0.42 % 6.47 % 7.10 % 8.12 % Total return after incentive fees (2) -1.08 % 0.40 % 0.40 % 0.43 % 0.42 % 6.47 % 7.10 % 8.12 % Incentive fee per share - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Frontier Global 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, 2018 $ 131.57 $ 149.92 $ 187.17 $ 99.83 $ 111.78 $ 152.53 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (5.21 ) (3.73 ) (4.65 ) (3.24 ) (2.16 ) (2.75 ) Net gain/(loss) on investments, net of non-controlling interests 17.28 19.94 24.96 13.01 16.72 20.18 Net income/(loss) 12.07 16.21 20.31 9.77 14.56 17.43 Net asset value, June 30, 2019 $ 143.64 $ 166.13 $ 207.48 $ 109.60 $ 126.34 $ 169.96 Ratios to average net assets Net investment income/(loss) -15.82 % -9.78 % -9.78 % -13.39 % -7.34 % -7.34 % Expenses before incentive fees (3)(4) 15.82 % 9.78 % 9.78 % 13.39 % 7.34 % 7.34 % Expenses after incentive fees (3)(4) 15.82 % 9.78 % 9.78 % 13.39 % 7.34 % 7.34 % Total return before incentive fees (2) 9.17 % 10.81 % 10.85 % 9.79 % 13.03 % 11.43 % Total return after incentive fees (2) 9.17 % 10.81 % 10.85 % 9.79 % 13.03 % 11.43 % Incentive fee per share - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (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 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 is included in the total return. |
Frontier Funds [Member] | |
Financial Highlights | 7. Financial Highlights The following information presents the financial highlights of the Trust for the three and six months ended June 30, 2020 and June 30, 2019. This data has been derived from the information presented in the consolidated financial statements. Three months ended June 30 2020 2019 Ratios to average net assets (1) Net investment income/(loss) (1) -4.34 % -5.41 % Expenses before incentive fees (3) (4) -4.36 % 5.52 % Expenses after incentive fees (3) (4) -4.36 % 5.52 % Total return before incentive fees (2) -7.79 % 2.74 % Total return after incentive fees (2) -7.79 % 2.74 % Six months ended June 30 2020 2019 Ratios to average net assets (1) Net investment income/(loss) (1) -5.71 % -5.57 % Expenses before incentive fees (3) (4) 5.76 % -5.77 % Expenses after incentive fees (3) (4) 5.76 % 5.77 % Total return before incentive fees (2) -23.21 % 1.04 % Total return after incentive fees (2) -23.21 % 1.04 % (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 | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [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 futures contracts bought and sold for each respective Series of the Trust: For the Six Months ended June 30, 2020 Monthly average contracts: Bought Sold Frontier Balanced Fund 568 490 For the Six Months ended June 30, 2019 Monthly average contracts: Bought Sold Frontier Balanced Fund 480 581 The following tables summarize the trading revenues for the three and six months ended June 30, 2020, and 2019 by sector: Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2020 Type of contract Frontier Agriculturals $ 25,052 Currencies (89,048 ) Energies 14,070 Interest rates 128,434 Metals 316,370 Stock indices 25,681 Realized trading income/(loss) (1) $ 420,559 (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 Three Months Ended June 30, 2020 Type of contract Frontier Agriculturals $ (27,242 ) Currencies 3,074 Energies (9,668 ) Interest rates (113,962 ) Metals 10,260 Stock indices (77,990 ) Realized trading income/(loss) (1) $ (221,676 ) Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2019 Type of contract Frontier Agriculturals $ 18,952 Currencies (241,334 ) Energies (37,678 ) Interest rates 548,174 Metals 8,700 Stock indices (38,915 ) Realized trading income/(loss) (1) $ 257,899 Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended June 30, 2019 Type of contract Frontier Agriculturals $ 64,042 Currencies (123,270 ) Energies (7,996 ) Interest rates 312,541 Metals 13,674 Stock indices (5,618 ) Realized trading income/(loss) (1) $ 253,373 (1) Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options. Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2020 Type of contract Frontier Agriculturals $ 14,916 Currencies (20,473 ) Energies (4,275 ) Interest rates 36,412 Metals (113,782 ) Stock indices 10,168 Change in unrealized trading income/(loss) (1) $ (77,034 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2020 Type of contract Frontier Agriculturals $ 32,288 Currencies (49,704 ) Energies (1,630 ) Interest rates 44,437 Metals (86,875 ) Stock indices 10,168 Change in unrealized trading income/(loss) (1) $ (51,316 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2019 Type of contract Frontier Agriculturals $ (41,639 ) Currencies (57,496 ) Energies 1,510 Interest rates (107,355 ) Metals 6,931 Stock indices 1,534 Change in unrealized trading income/(loss) (1) $ (196,515 ) (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2019 Type of contract Frontier Agriculturals $ (17,348 ) Currencies 16,367 Energies (7,260 ) Interest rates (99,664 ) Metals 4,519 Stock indices 9,106 Change in unrealized trading income/(loss) (1) $ (94,280 ) (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 FCMs 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 June 30, 2020 and December 31, 2019. As of June 30, 2020 Gross Gross Net Frontier Balanced Fund Open Trade Equity/(Deficit) $ 660,810 $ (668,927 ) $ (8,117 ) Swap Contracts 7,488,340 - 7,488,340 Frontier Diversified Fund Swap Contracts $ 4,629,556 $ - $ 4,629,556 Frontier Long/Short Commodity Fund Swap Contracts $ 582,519 $ - $ 582,519 As of December 31, 2019 Gross Gross Net Frontier Balanced Fund Open Trade Equity/(Deficit) $ 154,778 $ (38,594 ) $ 116,184 Swap Contracts 11,944,753 - $ 11,944,753 Frontier Diversified Fund Swap Contracts $ 6,384,583 $ - $ 6,384,583 Frontier Long/Short Commodity Fund Swap Contracts $ 362,521 $ - $ 362,521 Frontier Heritage Fund Swap Contracts $ 2,888,009 $ - $ 2,888,009 |
Frontier Funds [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 June 30, 2020 and December 31, 2019 is included in the Consolidated Condensed Schedules of Investments. See Note 4 for further disclosure related to the Trust's positions in swap contracts. There are embedded management fees in transacting these swaps ranging from 1% to 1.5% based on fair value of swaps and the embedded incentive fees ranging from 15% to 25% based on net new trading profits on swaps. For the three months ended June 30, 2020 and June 30, 2019, the monthly average of futures, forwards and options contracts bought was approximately 568, and 230, respectively and sold was approximately 490, and 277, respectively. The following tables summarize the trading revenues for the three months ended June 30, 2020 and June 30, 2019 by contract type: Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended June 30, 2020 Type of contract Agriculturals $ (27,242 ) Currencies (3,074 ) Energies (9,668 ) Interest rates (113,962 ) Metals 10,260 Stock indices (77,990 ) Realized trading income/(loss) (1) $ (221,676 ) Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended June 30, 2019 Type of contract Agriculturals $ 64,042 Currencies (190,296 ) Energies (7,996 ) Interest rates 312,541 Metals 5,826 Stock indices (5,618 ) Realized trading income/(loss) (1) $ 178,499 Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2020 Type of contract Agriculturals $ 25,052 Currencies (89,048 ) Energies 14,070 Interest rates 128,434 Metals 316,370 Stock indices 25,681 Realized trading income/(loss) (1) $ 420,559 Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2019 Type of contract Agriculturals $ 4,479 Currencies (690,957 ) Energies (592,892 ) Interest rates 862,211 Metals (611,514 ) Stock indices (73,178 ) Realized trading income/(loss) (1) $ (1,098,851 ) (1) Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options. Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2020 Type of contract Agriculturals $ 32,288 Currencies (49,704 ) Energies (1,630 ) Interest rates 44,437 Metals (86,875 ) Stock indices 10,168 Change in unrealized trading income/(loss) (1) $ (51,316 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2019 Type of contract Agriculturals $ (17,348 ) Currencies 83,394 Energies 589 Interest rates (99,664 ) Metals 4,519 Stock indices 9,106 Change in unrealized trading income/(loss) (1) $ (19,404 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2020 Type of contract Agriculturals $ 14,916 Currencies (20,473 ) Energies (4,275 ) Interest rates 36,412 Metals (113,782 ) Stock indices 10,168 Change in unrealized trading income/(loss) (1) $ (77,034 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2019 Type of contract Agriculturals $ (96,927 ) Currencies 170,634 Energies 221,638 Interest rates (334,017 ) Metals 488,974 Stock indices 55,845 Change in unrealized trading income/(loss) (1) $ 506,147 (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 FCMs 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 June 30, 2020 and December 31, 2019: As of June 30, 2020 Gross Amounts Gross Net Open Trade Equity/(Deficit) $ 660,810 $ (668,927 ) $ (8,117 ) Swap Contracts $ 12,700,415 - $ 12,700,415 As of December 31, 2019 Gross Gross Net Open Trade Equity/(Deficit) $ 154,778 $ (38,594 ) $ 116,184 Swap Contracts 21,579,866 - 21,579,866 |
Trading Activities and Related
Trading Activities and Related Risks | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [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 ("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 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. |
Frontier Funds [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 noted in Management Discussion and Analysis | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Indemnifications and Guarantees noted in Management Discussion and Analysis | 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, 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 Series up to the amount of equity at risk with the custodian of the referenced Series as allocated from the Trading Company. The Series have not recorded any liability for the indemnifications in the accompanying financial statements as it expects any possibility of losses to be remote. |
Frontier Funds [Member] | |
Indemnifications and Guarantees noted in Management Discussion and Analysis | 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 Series up to the amount of equity at risk with the custodian of the referenced Series as allocated from the Trading Company. The Series have 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 | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Subsequent Events | 11. Subsequent Events The Managing Owner evaluates events that occur after the balance sheet date but before and up until financial statements are available to be issued. The Managing Owner has assessed the subsequent events through the date that the financial statements were issued and has determined that, except as set forth below, there were no subsequent events requiring adjustment to or disclosure in the financial statements. From July 1, 2020 through August 10, 2020, Frontier Balanced Fund, Frontier Diversified Fund, Frontier Heritage Fund, Frontier Long/Short Commodity Fund, Frontier Masters Fund, Frontier Select Fund, and Frontier Global Fund paid $320,587, $413,886, $8,869, $2,561, $55,039, $5,500 and $72,127, respectively, in redemptions. Effective July 20, 2020, Doherty Advisors, LLC accessed through Galaxy Plus Fund – Doherty Feeder Fund (528) LLC ceased to act as a commodity trading advisor to the Trust. Effective August 1, 2020, John Locke SA accessed through Galaxy Plus Fund – JL Cyril Systematic Feeder Fund (547) LLC became a new major commodity trading advisor for Frontier Diversified Fund, Frontier Balanced Fund, Frontier Select Fund and Frontier Masters Fund. |
Frontier Funds [Member] | |
Subsequent Events | 11. Subsequent Events The Managing Owner evaluates events that occur after the balance sheet date but before and up until financial statements are available to be issued. The Managing Owner has assessed the subsequent events through the date that the financial statements were issued and has determined that, except as set forth below, there were no subsequent events requiring adjustment to or disclosure in the financial statements. From July 1, 2020 through August 10, 2020, the Trust paid $878,568 in redemptions. Effective July 20, 2020, Doherty Advisors, LLC accessed through Galaxy Plus Fund – Doherty Feeder Fund (528) LLC ceased to act as a commodity trading advisor to the Trust. Effective August 1, 2020, John Locke SA accessed through Galaxy Plus Fund – JL Cyril Systematic Feeder Fund (547) LLC became a new major commodity trading advisor for Frontier Diversified Fund, Frontier Balanced Fund, Frontier Select Fund and Frontier Masters Fund. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Basis of Presentation | Basis of Presentation |
Consolidation | Consolidation Galaxy Plus entities are co-mingled investment vehicles. In addition to the Series, there are other non-affiliated investors in Galaxy Plus entities. Subscriptions and redemptions by these non-affiliated investors will have a direct impact on the Series' ownership percentage in Galaxy Plus entities. 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. |
Change in Consolidation Method | Change in Consolidation Method |
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 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 is recognized in the period earned and the instruments are marked-to-market daily based on third-party information. Transaction costs are recognized as incurred and reflected separately in the 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 The 2016 through 2019 tax years generally remain subject to examination by U.S. federal and most state tax authorities. 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 Each Series is charged service fees as outlined above. In some cases, amounts paid to selling agents might be less than the amount charged to the Series. When this occurs, the service fee is rebated back to the investor in the form of additional units. During 2017, 2018 and 2019 the Series were not allowed to issue additional units. The Managing Owner has determined that the purchase of additional units of the relevant Series will commence in 2020 at such time as the Series are allowed to sell shares again. As such, the Managing Owner has calculated the amounts for additional units of the relevant series which will be purchased and classified such amounts as Subscriptions in advance for service fee rebates of $22,649, $353, $31,725, $335,700, $18,431, $152,714 and $60,428 for the Frontier Diversified, Long/Short Commodity, Masters, Balanced, Select, Global and Heritage Funds, respectively, as of June 30, 2020, These service fees are part of the offering costs of the Trust, with respect to the Series, 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— |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements— |
Subsequent Events | Subsequent Events—The Series follow the provisions of ASC 855, Subsequent Events |
Frontier Funds [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 entities. Subscriptions and redemptions by these non-affiliated investors will have a direct impact on the Trust's ownership percentage in Galaxy Plus entities. 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. |
Change in Consolidation Method | Change in Consolidation Method— |
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 Each Series is charged service fees as outlined above. In some cases, amounts paid to selling agents might be less than the amount charged to the Series. When this occurs, the service fee is rebated back to the investor in the form of additional units. During 2017, 2018 and 2019, the Series were not allowed to issue additional units. The Managing Owner has determined that the purchase of additional units of the relevant Series will commence in 2020 as such time the Series are allowed to sell shares again. As such, the Managing Owner has calculated the amounts for additional units of the relevant series which will be purchased and classified such amounts as Subscriptions in advance for service fee rebates of $598,042 and $622,000 as of December 31, 2019 and June 30, 2020, respectively. These service fees are part of the offering costs of the Trust, which include registration and filing fees, legal and blue1 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— |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements— |
Subsequent Events | Subsequent Events Subsequent Events |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Schedule of financial asset portfolio measured at fair value | June 30, 2020 Level 1 Level 2 Level 3 Total Frontier Diversified Fund Investment in Unconsolidated Trading Companies $ 16,057 $ - $ - $ 16,057 Swap Contracts - - 4,629,556 4,629,556 U.S. Treasury Securities 113,957 - - 113,957 Frontier Masters Fund Investment in Unconsolidated Trading Companies 4,033 - - 4,033 U.S. Treasury Securities 28,621 - - 28,621 Frontier Long/Short Commodity Fund Investment in Unconsolidated Trading Companies 6,433 - - 6,433 Swap Contracts - - 582,519 582,519 U.S. Treasury Securities 45,654 - - 45,654 Frontier Balanced Fund Investment in Unconsolidated Trading Companies 18,685 - - 18,685 Open Trade Equity (Deficit) (8,117 ) - - (8,117 ) Swap Contracts - - 7,488,340 7,488,340 U.S. Treasury Securities 132,605 - - 132,605 Frontier Select Fund - Investment in Unconsolidated Trading Companies 74 - - 74 U.S. Treasury Securities 524 - - 524 Frontier Global Fund - Investment in Unconsolidated Trading Companies 3,259 - - 3,259 U.S. Treasury Securities 23,131 - - 23,131 Frontier Heritage Fund Investment in Unconsolidated Trading Companies 37,004 - - 37,004 U.S. Treasury Securities 262,615 - - 262,615 December 31, 2019 Level 1 Level 2 Level 3 Total Frontier Diversified Fund Investment in Unconsolidated Trading Companies $ 24,150 $ - $ - $ 24,150 Swap Contracts - - 6,384,583 6,384,583 U.S. Treasury Securities 99,605 - - 99,605 Frontier Masters Fund Investment in Unconsolidated Trading Companies 11,005 - - 11,005 U.S. Treasury Securities 45,391 - - 45,391 Frontier Long/Short Commodity Fund Investment in Unconsolidated Trading Companies 14,711 - - 14,711 Swap Contracts - - 362,521 362,521 U.S. Treasury Securities 60,673 - - 60,673 Frontier Balanced Fund Investment in Unconsolidated Trading Companies 50,867 - - 50,867 Open Trade Equity (Deficit) 57,057 59,127 - 116,184 Swap Contracts - - 11,944,753 11,944,753 U.S. Treasury Securities 209,799 - - 209,799 Frontier Select Fund Investment in Unconsolidated Trading Companies 26,331 - 479,024 505,355 U.S. Treasury Securities 108,603 - - 108,603 Frontier Global Fund Investment in Unconsolidated Trading Companies 11,818 - - 11,818 U.S. Treasury Securities 48,741 - - 48,741 Frontier Heritage Fund Investment in Unconsolidated Trading Companies 18,891 - - 18,891 Swap Contracts - - 2,888,008 2,888,008 U.S. Treasury Securities 77,916 - - 77,916 |
Schedule of change in Level 3 assets measured at fair value on recurring basis | For the Six Months Ending June 30, 2020 Swaps Frontier Frontier Balance of recurring Level 3 assets as of January 1, 2020 $ 11,944,753 $ 362,521 Total gains or losses (realized/unrealized): Included in earnings-realized - Included in earnings-unrealized (5,635,109 ) 219,997 Proceeds from collateral reduction - - Purchase of investments 1,178,696 - Change in ownership allocation - - Transfers in and/or out of Level 3 - - Balance of recurring Level 3 assets as of June 30, 2020 $ 7,488,340 $ 582,518 Frontier Frontier Balance of recurring Level 3 assets as of January 1, 2020 $ 6,384,583 $ 2,888,009 Total gains or losses (realized/unrealized): Included in earnings-realized - (97,745 ) Included in earnings-unrealized (2,024,174 ) 197,829 Proceeds from collateral reduction - (2,474,937 ) Purchase (sale) of investments 269,147 (513,156 ) Change in ownership allocation - - Transfers in and/or out of Level 3 - - Balance of recurring Level 3 assets as of June 30, 2020 $ 4,629,556 $ 0 For the Six Months ending June 30, 2020 Investments in Unconsolidated Trading Companies: Frontier Balance of recurring Level 3 assets as of January 1, 2020 $ 479,024 Change in fair value of investments in unconsolidated trading companies - Proceeds from sales of investments of unconsolidated trading companies (479,024 ) 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 June 30, 2020 $ 0 For the Year Ended December 31, 2019 Swaps Frontier Frontier Balance of recurring Level 3 assets as of January 1, 2019 $ 10,794,908 $ 479,102 Total gains or losses (realized/unrealized): Included in earnings-realized - - Included in earnings-unrealized 1,149,845 (116,581 ) Proceeds from collateral reduction - - Change in ownership allocation - - Transfers in and/or out of Level 3 - - Balance of recurring Level 3 assets as of December 31, 2019 $ 11,944,753 $ 362,521 Frontier Frontier Balance of recurring Level 3 assets as of January 1, 2019 $ 5,920,414 $ 2,955,444 Total gains or losses (realized/unrealized): Included in earnings-realized - - Included in earnings-unrealized 464,169 (67,435 ) Proceeds from collateral reduction - - Change in ownership allocation - - Transfers in and/or out of Level 3 - - Balance of recurring Level 3 assets as of December 31, 2019 $ 6,384,583 $ 2,888,009 For the Year Ended December 31, 2019 Investments in Unconsolidated Trading Companies Frontier Balance of recurring Level 3 assets as of January 1, 2019 $ 511,718 Change in fair value of investments in unconsolidated trading companies (32,694 ) 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 December 31, 2019 $ 479,024 |
Schedule of change in unrealized appreciation (depreciation) | The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at June 30, 2020. Frontier Frontier Frontier Frontier Swap Contracts $ (2,024,174 ) $ 219,997 $ (5,635,109 ) $ 197,829 Frontier Investments in Unconsolidated Trading Companies $ 0 The total change in unrealized appreciation (depreciation) included in the statements of operations attributable to level 3 investments still held at December 31, 2019. Frontier Frontier Frontier Frontier Swap Contracts $ 464,169 $ (116,581 ) $ 1,149,845 $ (67,436 ) Frontier Investments in Unconsolidated Trading Companies $ (32,694 ) |
Frontier Funds [Member] | |
Schedule of financial asset portfolio measured at fair value | June 30, 2020 Level 1 Level 2 Level 3 Fair Value Open Trade Equity (Deficit) $ (8,117 ) $ - $ - $ (8,117 ) Swap Contracts - - 12,700,415 12,700,415 U.S. Treasury Securities 607,107 - - 607,107 December 31, 2019 Level 1 Level 2 Level 3 Fair Value Open Trade Equity (Deficit) $ 57,056 $ 59,128 $ - $ 116,184 Swap Contracts - - 21,579,865 21,579,865 U.S. Treasury Securities 650,728 - - 650,728 |
Schedule of change in Level 3 assets measured at fair value on recurring basis | Swaps For the Six Balance of recurring Level 3 assets as of January 1, 2019 21,579,865 Total gains or losses (realized/unrealized): Included in earnings-realized (189,734 ) Included in earnings-unrealized (7,241,457 ) Proceeds from collateral reduction (2,382,947 ) Purchase/(sale) of investments 934,688 Sale of investments - Transfers in and/or out of Level 3 - Balance of recurring Level 3 assets as of June 30, 2020 12,700,415 For the Year Balance of recurring Level 3 assets as of January 1, 2019 20,149,868 Total gains or losses (realized/unrealized): Included in earnings-realized - Included in earnings-unrealized 1,429,997 Proceeds from collateral reduction - Purchase of investments - Sale of investments - Transfers in and/or out of Level 3 - Balance of recurring Level 3 assets as of December 31, 2019 21,579,865 |
Swap Contracts (Tables)
Swap Contracts (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Schedule of Investments in following swap | The Series have invested in the following swaps as of and for the six months ended June 30, 2020: Frontier Frontier Frontier Total Return Total Return Total Return Counterparty DeutscheBank DeutscheBank DeutscheBank Notional Amount $ 7,420,403 $ 1,761,834 $ 653,610 Termination Date 7/31/2023 7/31/2023 7/31/2023 Cash Collateral $ 1,264,696 $ 555,147 $ 29,950 Swap Value $ 6,223,644 $ 4,274,409 $ 552,569 Investee Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $ 0 $ 0 $ 0 Change in Unrealized Gain/(Loss) $ (5,635,109 ) $ (2,024,174 ) $ 219,997 Fair Value as of June 30, 2020 $ 7,488,340 $ 4,629,556 $ 582,519 Advance on swap appreciation $ (6,176,555 ) $ (4,000,000 ) $ (115,000 ) The Series have invested in the following swaps as of and for the year ended December 31, 2019: Frontier Frontier Frontier Frontier Total Return Total Return Total Return Total Return Counterparty DeutscheBank DeutscheBank DeutscheBank DeutscheBank Notional Amount $ 7,420,403 $ 1,761,834 $ 653,610 $ 2,072,056 Termination Date 7/31/2023 7/31/2023 7/31/2023 3/27/2023 Cash Collateral $ 86,000 $ 86,000 $ 29,950 $ 975,450 Swap Value $ 11,858,754 $ 6,298,583 $ 332,571 $ 1,912,559 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $ 0 $ 0 $ 0 $ 0 Change in Unrealized Gain/(Loss) $ 1,149,846 $ 464,169 $ (116,581 ) $ (67,435 ) Fair Value as of December 31, 2019 $ 11,944,754 $ 6,384,583 $ 362,521 $ 2,888,009 Advance on swap appreciation $ (6,176,555 ) $ (4,000,000 ) $ (115,000 ) $ (1,900,000 ) |
Frontier Funds [Member] | |
Schedule of Investments in following swap | The Trust had invested in the following swaps as of and for the three months ended June 30, 2020: XXXIV XXXV XXXVII L/S Total Return Total Return Total Return Counterparty DeutscheBank DeutscheBank DeutscheBank Notional Amount $ 7,420,403 $ 1,761,834 $ 653,610 Termination Date 7/31/2023 7/31/2023 7/31/2023 Cash Collateral $ 1,264,696 $ 555,147 $ 29,950 Swap Value $ 6,223,644 $ 4,274,409 $ 522,569 Investee Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $ 0 $ 0 $ 0 Change in Unrealized Gain/(Loss) $ (5,635,109 ) $ (2,024,174 ) $ 219,997 Fair Value as of June 30, 2020 $ 7,488,340 $ 4,629,556 $ 582,519 Advance on swap appreciation $ (6,176,555 ) $ (4,000,000 ) $ (115,000 ) The Trust had invested in the following swaps as of and for the year ended December 31, 2019: XXXIV XXXV XXXVII L/S Brevan Total Return Total Return Total Return Total Return Counterparty DeutscheBank DeutscheBank DeutscheBank DeutscheBank Notional Amount $ 7,420,403 $ 1,761,834 $ 653,610 $ 2,072,056 Termination Date 7/31/2023 7/31/2023 7/31/2023 3/27/2023 Cash Collateral $ 86,000 $ 86,000 $ 29,950 $ 975,450 Swap Value $ 11,858,754 $ 6,298,583 $ 332,571 $ 1,912,559 Investee Returns Total Returns Total Returns Total Returns Total Returns Realized Gain/(Loss) $ 0 $ 0 $ 0 $ 0 Change in Unrealized Gain/(Loss) $ 1,149,846 $ 464,169 $ (116,581 ) $ (67,435 ) Fair Value as of December 31, 2019 $ 11,944,754 $ 6,384,583 $ 362,521 $ 2,888,009 Advance on swap appreciation $ (6,176,555 ) $ (4,000,000 ) $ (115,000 ) $ (1,900,000 ) |
Investments in Unconsolidated_2
Investments in Unconsolidated Trading Companies and Private Investment Companies (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Schedule of investments in unconsolidated trading companies | As of June 30, 2020 As of December 31, 2019 Percentage of Percentage of Series Total Series Total Capital Invested in Capital Invested in Series Unconsolidated Fair Value Unconsolidated Fair Value Frontier Diversified Series — Frontier Trading Company XXXVIII 0.25 % $ 16,057 0.20 % $ 24,150 Frontier Masters Fund — Frontier Trading Company XXXVIII 0.25 % $ 4,033 0.49 % $ 11,005 Frontier Long/Short Commodity Fund — Frontier Trading Company XXXVIII 0.49 % $ 6,433 1.10 % $ 14,711 Frontier Balanced Fund — Frontier Trading Company XXXVIII 0.14 % $ 18,685 0.23 % $ 50,867 Frontier Select Fund — Frontier Trading Companies XXXVIII and XXXIX* 0.01 % $ 74 17.94 % $ 505,355 Frontier Global Fund — Frontier Trading Company XXXVIII 0.08 % $ 3,259 0.25 % $ 11,818 Frontier Heritage Fund — Frontier Trading Company XXXVIII 1.35 % $ 37,004 0.57 % $ 18,891 * The investment in Frontier Trading Company XXXIX was sold as of June 30, 2020. |
Schedule of equity in earnings from unconsolidated trading companies and private investment companies | Six Months Ended June, 2020 Six Months Ended June, 2019 Change in Net Change in Net Trading Realized Unrealized Income Trading Realized Unrealized Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Frontier Balanced Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (138,899 ) $ (138,899 ) Frontier Trading Company XXXVIII, LLC - - (9,465 ) (9,465 ) - - (732 ) (732 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (5,100 ) 12,484 4,697 12,081 (22,370 ) 635,922 201,668 815,220 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (2,152 ) (55,735 ) 25,524 (32,363 ) (17,895 ) 46,071 (78,813 ) (50,637 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (6,408 ) (718,397 ) 81,531 (643,274 ) (173,562 ) (1,016,391 ) (35,635 ) (1,225,588 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (15,974 ) (324,444 ) 189,882 (150,536 ) (18,736 ) 1,292,724 (74,396 ) 1,199,592 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (502 ) (232,245 ) (21,665 ) (254,412 ) - - 286,677 286,677 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (8,555 ) (667,819 ) 50,898 (625,476 ) (49,975 ) (936,608 ) 185,088 (801,495 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - (25,311 ) 24,230 (121,258 ) (122,339 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (1,701 ) 56,595 (28,862 ) 26,032 (6,786 ) 45,834 20,454 59,502 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (12,641 ) 596,931 (159,436 ) 424,854 (45,648 ) 986,448 (396,129 ) 544,671 Total $ (53,033 ) $ (1,332,630 ) $ 133,104 $ (1,252,559 ) $ (360,283 ) $ 1,078,230 $ (151,975 ) $ 565,972 Frontier Global Fund Frontier Trading Company II LLC $ - $ - $ - $ - $ - $ - $ (337,431 ) $ (337,431 ) Frontier Trading Company XXXVIII, LLC - - (454 ) (454 ) - - (14,574 ) (14,574 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (8,398 ) 1,157 (79,179 ) (86,420 ) (153,661 ) 1,206,683 134,763 1,187,785 Total $ (8,398 ) $ 1,157 $ (79,633 ) $ (86,874 ) $ (153,661 ) $ 1,206,683 $ (217,242 ) $ 835,780 Frontier Select Fund Frontier Trading Company XXXIX, LLC $ - $ - $ - $ - $ - $ - $ 39,383 $ 39,383 Frontier Trading Company XXXVIII, LLC - - (6,672 ) (6,672 ) - - (1,672 ) (1,672 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC - - (1,616 ) (1,616 ) - - - - Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (4,125 ) 195,063 (52,502 ) 138,436 (33,911 ) 222,739 (47,068 ) 141,760 Galaxy Plus Fund - TT Feeder Fund (531) LLC (5,392 ) (237,723 ) (32,990 ) (276,105 ) (44,428 ) 259,691 (73,313 ) 141,950 Total $ (9,517 ) $ (42,660 ) $ (93,780 ) $ (145,957 ) $ (78,339 ) $ 482,430 $ (82,670 ) $ 321,421 Frontier Heritage Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (59,538 ) $ (59,538 ) Frontier Trading Company XXXVIII, LLC - - (3,324 ) (3,324 ) - - (4,379 ) (4,379 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (2,774 ) (1,359 ) (36,695 ) (40,828 ) (41,734 ) 245,955 67,220 271,441 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (3,878 ) 181,477 (62,681 ) 114,918 (49,687 ) 284,089 (63,499 ) 170,903 Total $ (6,652 ) $ 180,118 $ (102,700 ) $ 70,766 $ (91,421 ) $ 530,044 $ (60,196 ) $ 378,427 Frontier Long/Short Commodity Fund Frontier Trading Company XXXVIII, LLC $ - $ - $ (3,076 ) $ (3,076 ) $ - $ - $ (1,029 ) $ (1,029 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC - - - - - - - - Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (938 ) (103,100 ) 8,652 (95,386 ) (37,828 ) (379,307 ) 229,576 (187,559 ) Galaxy Plus Fund - LRR Feeder Fund (522) LLC (672 ) (116,962 ) (15,470 ) (133,104 ) - 142,869 142,869 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (1,626 ) 76,796 (19,465 ) 55,705 (24,026 ) 125,486 (44,529 ) 56,931 Total $ (3,236 ) $ (143,266 ) $ (29,359 ) $ (175,861 ) $ (61,854 ) $ (253,821 ) $ 326,887 $ 11,212 Frontier Diversified Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (76,616 ) $ (76,616 ) Frontier Trading Company XXXVIII, LLC - - 3,023 3,023 - - (8,996 ) (8,996 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (3,370 ) 31,349 10,159 38,138 (19,559 ) 379,795 103,977 464,213 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (1,348 ) (39,612 ) 17,676 (23,284 ) (14,073 ) 28,047 (48,988 ) (35,014 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (4,119 ) (463,144 ) 53,938 (413,325 ) (108,956 ) (912,164 ) 268,101 (753,019 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (11,130 ) (201,658 ) 79,262 (133,526 ) (20,998 ) 811,110 (57,565 ) 732,547 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (309 ) (144,282 ) (12,689 ) (157,280 ) - - 144,793 144,793 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (3,841 ) (244,235 ) 46,440 (201,636 ) (35,222 ) (573,436 ) 114,005 (494,653 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - (13,254 ) 10,639 (7,477 ) (10,092 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (1,514 ) 53,754 (19,897 ) 32,343 (7,948 ) 45,318 20,527 57,897 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (7,271 ) 376,073 (18,235 ) 350,567 (34,002 ) 603,982 (196,808 ) 373,172 Total $ (32,902 ) $ (631,755 ) $ 159,677 $ (504,980 ) $ (254,012 ) $ 393,291 $ 254,953 $ 394,232 Frontier Masters Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (65,952 ) $ (65,952 ) Frontier Trading Company XXXVIII, LLC - - (2,275 ) (2,275 ) - - (1,558 ) (1,558 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC - - - - - - - - Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (2,049 ) (1,588 ) (28,072 ) (31,709 ) (31,863 ) 231,766 69,765 269,668 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC - - 88 88 - - - - Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (1,540 ) (190,409 ) 31,680 (160,269 ) (81,588 ) (163,846 ) (188,680 ) (434,114 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (2,008 ) 95,916 (9,097 ) 84,811 (17,916 ) 77,286 47,910 107,280 Galaxy Plus Fund - TT Feeder Fund (531) LLC (1,851 ) (84,259 ) (10,422 ) (96,532 ) (38,936 ) 214,809 (83,135 ) 92,738 Total $ (7,448 ) $ (180,340 ) $ (18,098 ) $ (205,886 ) $ (170,303 ) $ 360,015 $ (221,650 ) $ (31,938 ) Three Months Ended June, 2020 Three Months Ended June, 2019 Change in Net Change in Net Trading Realized Unrealized Income Trading Realized Unrealized Income Commissions Gain/(Loss) Gain/(Loss) (Loss) Commissions Gain/(Loss) Gain/(Loss) (Loss) Frontier Balanced Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ 382 $ 382 Frontier Trading Company XXXVIII, LLC - - 13,836 13,836 - - (1,743 ) (1,743 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (5,100 ) (88,960 ) (255,603 ) (349,663 ) (7,956 ) 500,989 (261,813 ) 231,220 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (2,152 ) (49,427 ) 67,132 15,553 (7,282 ) 9,117 (12,265 ) (10,430 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (6,408 ) (407,643 ) 414,194 143 (104,751 ) (3,311,760 ) 2,622,781 (793,730 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (15,974 ) (403,362 ) 546,868 127,532 (9,768 ) 526,833 (184,438 ) 332,627 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (502 ) (239,751 ) 237,492 (2,761 ) - - 305,427 305,427 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (8,555 ) (693,367 ) 349,783 (352,139 ) (21,074 ) (328,285 ) 179,439 (169,920 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - - - (105,511 ) (105,511 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (1,701 ) 79,790 (195,781 ) (117,692 ) (2,518 ) 56,051 (6,885 ) 46,648 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (12,641 ) 563,690 (927,823 ) (376,774 ) (21,136 ) 1,171,891 (437,703 ) 713,052 Total $ (53,033 ) $ (1,239,030 ) $ 250,098 $ (1,041,965 ) $ (174,485 ) $ (1,375,164 ) $ 2,097,671 $ 548,022 Frontier Global Fund Frontier Trading Company II LLC $ - $ - $ - $ - $ - $ - $ (23,564 ) $ (23,564 ) Frontier Trading Company XXXVIII, LLC - - 4,623 4,623 - - (178 ) (178 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (8,398 ) (308,501 ) (328,301 ) (645,200 ) (99,335 ) 940,770 (341,757 ) 499,678 Total $ (8,398 ) $ (308,501 ) $ (323,678 ) $ (640,577 ) $ (99,335 ) $ 940,770 $ (365,499 ) $ 475,936 Frontier Select Fund Frontier Trading Company XXXIX, LLC $ - $ - $ - $ - $ - $ - $ 63,719 $ 63,719 Frontier Trading Company XXXVIII, LLC - - (143 ) (143 ) - - (535 ) (535 ) Galaxy Plus Fund - Doherty Feeder Fund (528) LLC - - (1,616 ) (1,616 ) - - - - Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (4,125 ) 170,109 (288,624 ) (122,640 ) (18,439 ) 189,845 (130,938 ) 40,468 Galaxy Plus Fund - TT Feeder Fund (531) LLC (5,392 ) (220,692 ) 226,084 - (20,114 ) 312,950 (81,412 ) 211,424 Total $ (9,517 ) $ (50,583 ) $ (64,299 ) $ (124,399 ) $ (38,553 ) $ 502,795 $ (149,166 ) $ 315,076 Frontier Heritage Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (5,368 ) $ (5,368 ) Frontier Trading Company XXXVIII, LLC - - 2,779 2,779 - - (1,597 ) (1,597 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (2,774 ) (35,321 ) (179,266 ) (217,361 ) (24,706 ) 183,352 (87,492 ) 71,154 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (3,878 ) 211,068 (336,224 ) (129,034 ) (21,610 ) 341,761 (83,040 ) 237,111 Total $ (6,652 ) $ 175,747 $ (512,711 ) $ (343,616 ) $ (46,316 ) $ 525,113 $ (177,497 ) $ 301,300 Frontier Long/Short Commodity Fund Frontier Trading Company XXXVIII, LLC $ - $ - $ 1,630 $ 1,630 $ - $ - $ (469 ) $ (469 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC - - - - - - - - Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (938 ) (41,364 ) 42,301 (1 ) (22,997 ) (636,737 ) 537,573 (122,161 ) Galaxy Plus Fund - LRR Feeder Fund (522) LLC (672 ) (117,782 ) 122,271 3,817 - - 172,203 172,203 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (1,626 ) 83,251 (131,014 ) (49,389 ) (11,740 ) 151,888 (42,868 ) 97,280 Total $ (3,236 ) $ (75,895 ) $ 35,188 $ (43,943 ) $ (34,737 ) $ (484,849 ) $ 666,439 $ 146,853 Frontier Diversified Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (711 ) $ (711 ) Frontier Trading Company XXXVIII, LLC - - 4,032 4,032 - - (403 ) (403 ) Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (3,370 ) (56,966 ) (142,153 ) (202,489 ) (9,102 ) 292,763 (123,620 ) 160,041 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (1,348 ) (29,090 ) 38,354 7,916 (6,039 ) 5,628 (8,508 ) (8,919 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (4,119 ) (194,763 ) 198,882 - (67,124 ) (2,123,330 ) 1,689,124 (501,330 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (11,130 ) (310,674 ) 377,368 55,564 (11,268 ) 351,448 (127,805 ) 212,375 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (309 ) (148,003 ) 146,562 (1,750 ) - - 152,338 152,338 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (3,841 ) (190,864 ) 79,076 (115,629 ) (15,429 ) (184,729 ) 103,314 (96,844 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - - - (700 ) (700 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (1,514 ) 65,761 (153,963 ) (89,716 ) (2,990 ) 50,835 (9,848 ) 37,997 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (7,271 ) 382,640 (502,758 ) (127,389 ) (16,278 ) 685,223 (254,362 ) 414,583 Total $ (32,902 ) $ (481,959 ) $ 45,400 $ (469,461 ) $ (128,230 ) $ (922,162 ) $ 1,418,819 $ 368,427 Frontier Masters Fund Frontier Trading Company II, LLC $ - $ - $ - $ - $ - $ - $ (4,502 ) $ (4,502 ) Frontier Trading Company XXXVIII, LLC - - 4,207 4,207 - - (1,781 ) (1,781 ) Galaxy Plus Fund - Chesapeake Feeder Fund (518) LLC - - - - - - - - Galaxy Plus Fund - Aspect Feeder Fund (532) LLC (2,049 ) (30,225 ) (132,672 ) (164,946 ) (17,715 ) 168,928 (60,575 ) 90,638 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC - - 88 88 - - - - Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (1,540 ) 58,199 (56,659 ) - (41,279 ) (1,069,832 ) 878,048 (233,063 ) Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (2,008 ) 117,030 (165,332 ) (50,310 ) (7,140 ) 82,721 (37,533 ) 38,048 Galaxy Plus Fund - TT Feeder Fund (531) LLC (1,851 ) (90,207 ) 92,058 - (15,303 ) 283,646 (88,757 ) 179,586 Total $ (7,448 ) $ 54,797 $ (258,310 ) $ (210,961 ) $ (81,437 ) $ (534,537 ) $ 684,900 $ 68,926 |
Schedule of private investment companies have certain redemption and liquidity restrictions | Redemptions Redemptions Liquidity Notice Period Permitted Restrictions Frontier Diversified Fund Multi-Strategy 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 Masters Fund Trend Following Galaxy Plus Fund – Aspect Feeder Fund (532) LLC 24 hours Daily None Multi-Strategy Galaxy Plus Fund – Welton GDP Feeder Fund (538) LLC 24 hours Daily None Frontier Long/Short Commodity Fund Multi-Strategy 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 – 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 Multi-Strategy Galaxy Plus Fund – Welton GDP Feeder Fund (538) LLC 24 hours Daily None Frontier Global Fund Trend Following Galaxy Plus Fund – Aspect Feeder Fund (532) LLC 24 hours Daily None Frontier Heritage Fund Multi-Strategy 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 |
Frontier Funds [Member] | |
Schedule of earnings from each of the private investment companies | Six Months Ended June, 2020 Six Months Ended June, 2019 Trading Realized Change in Net Trading Realized Change in Net Galaxy Plus Fund - Aspect Feeder Fund (532) LLC $ (21,691 ) $ 42,043 $ (129,090 ) $ (108,738 ) $ (269,187 ) $ 2,700,121 $ 577,393 $ 3,008,327 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (3,500 ) (95,347 ) 41,672 (57,175 ) (31,968 ) 74,118 (127,801 ) (85,651 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (13,005 ) (1,475,050 ) 175,801 (1,312,254 ) (401,934 ) (2,471,708 ) 273,362 (2,600,280 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (27,104 ) (526,102 ) 269,144 (284,062 ) (39,734 ) 2,103,831 (131,961 ) 1,932,136 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (1,483 ) (493,489 ) (49,824 ) (544,796 ) - 574,339 574,339 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (12,396 ) (912,054 ) 97,338 (827,112 ) (85,197 ) (1,510,044 ) 299,093 (1,296,148 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - (38,565 ) 34,869 (128,735 ) (132,431 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (3,215 ) 110,349 (48,759 ) 58,375 (14,734 ) 91,152 40,981 117,399 Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC - - - - - (80,033 ) (80,033 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (7,243 ) (321,982 ) (43,412 ) (372,637 ) (83,364 ) 474,500 (156,448 ) 234,688 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (31,549 ) 1,522,256 (321,416 ) 1,169,291 (205,190 ) 2,300,033 (700,123 ) 1,394,720 Total $ (121,186 ) $ (2,149,376 ) $ (8,546 ) $ (2,279,108 ) $ (1,169,873 ) $ 3,796,872 $ 440,067 $ 3,067,066 Three Months Ended June, 2020 Three Months Ended June, 2019 Trading Realized Change in Net Trading Realized Change in Net Galaxy Plus Fund - Aspect Feeder Fund (532) LLC $ (21,691 ) $ (519,973 ) $ (1,037,995 ) $ (1,579,659 ) $ (158,814 ) $ 2,086,802 $ (875,257 ) $ 1,052,731 Galaxy Plus Fund - Doherty Feeder Fund (528) LLC (3,500 ) (78,517 ) 103,958 21,941 (13,321 ) 14,745 (20,773 ) (19,349 ) Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC (13,005 ) (585,571 ) 598,718 142 (236,151 ) (7,141,659 ) 5,727,526 (1,650,284 ) Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC (27,104 ) (714,036 ) 924,235 183,095 (21,036 ) 878,281 (312,243 ) 545,002 Galaxy Plus Fund - LRR Feeder Fund (522) LLC (1,483 ) (505,536 ) 506,325 (694 ) - - 629,968 629,968 Galaxy Plus Fund - QIM Feeder Fund (526) LLC (12,396 ) (884,231 ) 428,859 (467,768 ) (36,503 ) (513,014 ) 282,753 (266,764 ) Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC - - - - - - (106,211 ) (106,211 ) Galaxy Plus Fund - Quest Feeder Fund (517) LLC (3,215 ) 145,551 (349,745 ) (207,409 ) (5,508 ) 106,886 (16,733 ) 84,645 Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC - - - - - - (48,550 ) (48,550 ) Galaxy Plus Fund - TT Feeder Fund (531) LLC (7,243 ) (310,899 ) 318,142 - (35,417 ) 596,596 (170,169 ) 391,010 Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC (31,549 ) 1,527,788 (2,351,775 ) (855,536 ) (96,343 ) 2,623,329 (986,444 ) 1,540,542 Total $ (121,186 ) $ (1,925,424 ) $ (859,278 ) $ (2,905,888 ) $ (603,093 ) $ (1,348,034 ) $ 4,103,867 $ 2,152,740 |
Schedule of private investment companies have certain redemption and liquidity restrictions | Redemptions Redemptions Liquidity Notice Period Permitted Restrictions Frontier Funds Multi-Strategy 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 |
Transactions with Affiliates (T
Transactions with Affiliates (Tables) - The Series of Frontier Funds [Member] | 6 Months Ended |
Jun. 30, 2020 | |
Schedule of fees earned by managing owner | The following table summarizes fees earned by the Managing Owner for the three and six months ended June 30, 2020 and June 30, 2019, respectively. Three Months Ended June 30, 2020 Incentive Management Service Trading Frontier Diversified Fund - - 2,943 59,207 Frontier Masters Fund - - 499 29,793 Frontier Long/Short Commodity Fund - - 111 7,857 Frontier Balanced Fund - 4,704 85,674 138,508 Frontier Select Fund - - 17,932 15,445 Frontier Global Fund - - 27,786 52,118 Frontier Heritage Fund - - 17,944 28,037 Three Months Ended June 30, 2019 Incentive Management Service Trading Frontier Diversified Fund $ - $ - $ 11,366 $ 126,026 Frontier Masters Fund - 2,072 2,268 58,718 Frontier Long/Short Commodity Fund - - 152 14,365 Frontier Balanced Fund - 5,286 154,061 248,123 Frontier Select Fund - - 26.562 22,475 Frontier Global Fund - 9,531 42,779 82,598 Frontier Heritage Fund - 1,100 20,713 29,653 Six Months Ended June 30, 2020 Incentive Management Service Trading Frontier Diversified Fund $ - $ - $ 10,650 $ 163,140 Frontier Masters Fund - - 1,094 62,848 Frontier Long/Short Commodity Fund - - 222 17,497 Frontier Balanced Fund - 9,724 210,982 337,493 Frontier Select Fund - - 38,092 32,400 Frontier Global Fund - - 58,227 107,673 Frontier Heritage Fund - - 35,957 57,942 Six Months Ended June 30, 2019 Incentive Management Service Trading Frontier Diversified Fund $ - $ 2,668 $ 23,395 $ 256,330 Frontier Masters Fund - 7,665 9,754 126,036 Frontier Long/Short Commodity Fund - - 314 28,217 Frontier Balanced Fund - 13,365 324,926 527,460 Frontier Select Fund - - 52,067 45,107 Frontier Global Fund - 38,679 94,902 125,313 Frontier Heritage Fund - 7,289 43,898 56,746 |
Schedule of fees payable to managing owner | The following table summarizes fees payable to the Managing Owner as of June 30, 2020 and December 31, 2019. As of June 30, 2020 Incentive Management Interest Service Trading Frontier Diversified Fund $ - $ - $ - $ 702 $ 16,024 Frontier Masters Fund - - - 142 8,085 Frontier Long/Short Commodity Fund - - - - 2,426 Frontier Balanced Fund - 8,823 552 23,719 44,493 Frontier Select Fund - - 153 5,173 3,686 Frontier Global Fund - - 166 7,879 15,665 Frontier Heritage Fund - - 705 4,932 7,981 As of December 31, 2019 Incentive Management Interest Service Trading Frontier Diversified Fund $ - $ - $ - $ 3,391 $ 35,877 Frontier Masters Fund - - - 204 11,673 Frontier Long/Short Commodity Fund - - - - 3,468 Frontier Balanced Fund - 8,795 105 41,635 70,179 Frontier Select Fund - - - 6,906 6,000 Frontier Global Fund - - 56 11,263 22,540 Frontier Heritage Fund - - 166 5,362 11,170 |
Schedule of interest paid by each series to managing owner | Three Months Ended June 30, June 30, June 30, June 30, Gross Amount Gross Amount Ratio to Ratio to Frontier Diversified Fund Class 1 $ - $ - 0.00 % 0.00 % Frontier Diversified Fund Class 2 - - 0.00 % 0.00 % Frontier Diversified Fund Class 3 - - 0.00 % 0.00 % Frontier Masters Fund Class 1 - - 0.00 % 0.00 % Frontier Masters Fund Class 2 - - 0.00 % 0.00 % Frontier Masters Fund Class 3 - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 2 5 3 0.01 % 0.00 % Frontier Long/Short Commodity Fund Class 3 114 81 0.01 % 0.01 % Frontier Long/Short Commodity Fund Class 1a - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 2a - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 3a - - 0.00 % 0.00 % Frontier Balanced Fund Class 1 2,221 1,150 0.01 % 0.01 % Frontier Balanced Fund Class 1AP 31 19 0.01 % 0.01 % Frontier Balanced Fund Class 2 425 232 0.01 % 0.01 % Frontier Balanced Fund Class 2a 5 3 0.00 % 0.00 % Frontier Balanced Fund Class 3a 23 10 0.00 % 0.00 % Frontier Select Fund Class 1 779 1,400 0.03 % 0.01 % Frontier Select Fund Class 1AP 3 3 0.03 % 0.00 % Frontier Select Fund Class 2 26 41 0.03 % 0.01 % Frontier Global Fund Class 1 1,203 3,631 0.03 % 0.27 % Frontier Global Fund Class 1AP 11 21 0.03 % 0.27 % Frontier Global Fund Class 2 110 252 0.03 % 0.26 % Frontier Heritage Fund Class 1 728 1,196 0.03 % 0.07 % Frontier Heritage Fund Class 1AP 3 2 0.03 % 0.10 % Frontier Heritage Fund Class 2 170 255 0.03 % 0.07 % Total $ 5,857 $ 8,299 Six Months Ended June 30, June 30, June 30, June 30, Gross Amount Gross Amount Ratio to Ratio to Frontier Diversified Fund Class 1 $ - $ - 0.00 % 0.00 % Frontier Diversified Fund Class 2 - - 0.00 % 0.00 % Frontier Diversified Fund Class 3 - - 0.00 % 0.00 % Frontier Masters Fund Class 1 - - 0.00 % 0.00 % Frontier Masters Fund Class 2 - - 0.00 % 0.00 % Frontier Masters Fund Class 3 - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 2 8 9 0.02 % 0.00 % Frontier Long/Short Commodity Fund Class 3 196 208 0.02 % 0.01 % Frontier Long/Short Commodity Fund Class 1a - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 2a - - 0.00 % 0.00 % Frontier Long/Short Commodity Fund Class 3a - - 0.00 % 0.00 % Frontier Balanced Fund Class 1 4,400 2,881 0.03 % 0.01 % Frontier Balanced Fund Class 1AP 62 45 0.03 % 0.01 % Frontier Balanced Fund Class 2 859 555 0.03 % 0.01 % Frontier Balanced Fund Class 2a 10 7 0.01 % 0.00 % Frontier Balanced Fund Class 3a 46 23 0.01 % 0.00 % Frontier Select Fund Class 1 1,733 2,259 0.07 % 0.01 % Frontier Select Fund Class 1AP 7 3 0.06 % 0.00 % Frontier Select Fund Class 2 58 71 0.07 % 0.01 % Frontier Global Fund Class 1 1,748 22,360 0.04 % 0.27 % Frontier Global Fund Class 1AP 16 105 0.05 % 0.27 % Frontier Global Fund Class 2 151 1,286 0.05 % 0.26 % Frontier Heritage Fund Class 1 1,648 3,424 0.07 % 0.07 % Frontier Heritage Fund Class 1AP 6 3 0.07 % 0.10 % Frontier Heritage Fund Class 2 388 669 0.07 % 0.07 % Total $ 11,336 $ 33,908 |
Financial Highlights (Tables)
Financial Highlights (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Schedule of financial highlights of trust | For the three months ended June 30, 2020 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, March 31, 2020 $ 79.15 $ 95.60 $ 89.39 $ 71.34 $ 86.18 $ 80.89 $ 47.69 $ 88.66 $ 56.98 $ 93.01 $ 60.02 Net operating results: Interest income 0.01 0.01 0.01 0.02 0.02 0.02 0.02 0.03 0.02 0.03 0.02 Expenses (0.85 ) (0.63 ) (0.58 ) (3.81 ) (1.19 ) (1.12 ) (0.69 ) (0.48 ) (0.31 ) (0.51 ) (0.33 ) Net gain/(loss) on investments, net of non-controlling interests (4.22 ) (5.09 ) (4.72 ) (5.63 ) (9.89 ) (9.23 ) (2.45 ) (4.94 ) (3.21 ) (5.18 ) (3.33 ) Net income/(loss) (5.06 ) (5.72 ) (5.30 ) (9.42 ) (11.05 ) (10.33 ) (3.12 ) (5.39 ) (3.50 ) (5.66 ) (3.64 ) Net asset value, June 30, 2020 $ 74.09 $ 89.88 $ 84.09 $ 61.92 $ 75.13 $ 70.56 $ 44.58 $ 83.27 $ 53.49 $ 87.35 $ 56.38 Ratios to average net assets Net investment income/(loss) -3.38 % -2.07 % -2.07 % -21.01 % -5.36 % -5.36 % -5.96 % -2.17 % -2.17 % -2.17 % -2.17 % Expenses before incentive fees (3)(4) 3.41 % 2.10 % 2.10 % 21.10 % 5.45 % 5.45 % 6.10 % 2.31 % 2.31 % 2.31 % 2.31 % Expenses after incentive fees (3)(4) 3.41 % 2.10 % 2.10 % 21.10 % 5.45 % 5.45 % 6.10 % 2.31 % 2.31 % 2.31 % 2.31 % Total return before incentive fees (2) -6.39 % -5.98 % -5.93 % -13.21 % -12.83 % -12.77 % -6.55 % -6.08 % -6.14 % -6.08 % -6.06 % Total return after incentive fees (2) -6.39 % -5.98 % -5.93 % -13.21 % -12.83 % -12.77 % -6.55 % -6.08 % -6.14 % -6.08 % -6.06 % Incentive fee per share - - - - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 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, March 31, 2020 $ 86.02 $ 101.87 $ 137.37 $ 119.07 $ 118.66 $ 67.48 $ 79.99 $ 106.15 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (1.35 ) (0.90 ) (17.96 ) (1.06 ) (1.05 ) (0.83 ) (0.45 ) (0.59 ) Net gain/(loss) on investments, net of non-controlling interests (6.09 ) (7.21 ) 7.02 (8.40 ) (8.37 ) (5.60 ) (6.64 ) (8.81 ) Net income/(loss) (7.43 ) (8.11 ) (10.93 ) (9.46 ) (9.42 ) (6.44 ) (7.09 ) (9.40 ) Net asset value, June 30, 2020 $ 78.59 $ 93.76 $ 126.44 $ 109.61 $ 109.24 $ 61.04 $ 72.90 $ 96.75 Ratios to average net assets Net investment income/(loss) -4.77 % -2.72 % -2.72 % -2.72 % -2.72 % -4.89 % -2.22 % -2.22 % Expenses before incentive fees (3)(4) 4.77 % 2.72 % 2.72 % 2.72 % 2.72 % 4.89 % 2.22 % 2.22 % Expenses after incentive fees (3)(4) 4.77 % 2.72 % 2.72 % 2.72 % 2.72 % 4.89 % 2.22 % 2.22 % Total return before incentive fees (2) -8.64 % -7.96 % -7.96 % -7.94 % -7.94 % -9.54 % -8.86 % -8.86 % Total return after incentive fees (2) -8.64 % -7.96 % -7.96 % -7.94 % -7.94 % -9.54 % -8.86 % -8.86 % Incentive fee per share - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Frontier Global Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, March 31, 2020 $ 145.97 $ 173.08 $ 215.64 $ 114.21 $ 135.37 $ 181.17 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (2.53 ) (1.89 ) (2.36 ) (1.76 ) (1.16 ) (1.55 ) Net gain/(loss) on investments, net of non-controlling interests (21.76 ) (25.83 ) (32.19 ) (15.94 ) (18.96 ) (25.38 ) Net income/(loss) (24.29 ) (27.73 ) (34.55 ) (17.70 ) (20.12 ) (26.93 ) Net asset value, June 30, 2020 $ 121.68 $ 145.35 $ 181.09 $ 96.51 $ 115.25 $ 154.24 Ratios to average net assets Net investment income/(loss) -7.44 % -4.70 % -4.70 % -6.79 % -3.79 % -3.79 % Expenses before incentive fees (3)(4) 7.44 % 4.70 % 4.70 % 6.79 % 3.79 % 3.79 % Expenses after incentive fees (3)(4) 7.44 % 4.70 % 4.70 % 6.79 % 3.79 % 3.79 % Total return before incentive fees (2) -16.64 % -16.02 % -16.02 % -15.50 % -14.87 % -14.87 % Total return after incentive fees (2) -16.64 % -16.02 % -16.02 % -15.50 % -14.87 % -14.87 % Incentive fee per share - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (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 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 is included in the total return. For the three months ended June 30, 2019 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, March 31, 2019 $ 100.84 $ 119.69 $ 111.62 $ 88.19 $ 104.69 $ 98.04 $ 50.14 $ 93.67 $ 58.96 $ 98.25 $ 61.96 Net operating results: Interest income 0.01 0.01 0.01 0.03 0.04 0.04 0.01 0.02 0.01 0.02 0.01 Expenses (1.69 ) (1.12 ) (1.05 ) (2.10 ) (1.68 ) (1.57 ) (0.82 ) (0.66 ) (0.41 ) (0.69 ) (0.44 ) Net gain/(loss) on investments, net of non-controlling interests 3.29 3.53 3.38 1.20 1.05 1.02 3.53 5.49 3.68 5.76 3.92 Net income/(loss) 1.60 2.42 2.34 (0.86 ) (0.59 ) (0.51 ) 2.72 4.85 3.28 5.09 3.49 Net asset value, June 30, 2019 $ 102.44 $ 122.11 $ 113.96 $ 87.33 $ 104.10 $ 97.53 $ 52.86 $ 98.52 $ 62.24 $ 103.34 $ 65.45 Ratios to average net assets Net investment income/(loss) -6.74 % -3.73 % -3.73 % -9.40 % -6.32 % -6.32 % -6.30 % -2.66 % -2.66 % -2.66 % -2.66 % Expenses before incentive fees (3)(4) 6.77 % 3.76 % 3.76 % 9.55 % 6.48 % 6.48 % 6.38 % 2.74 % 2.74 % 2.74 % 2.74 % Expenses after incentive fees (3)(4) 6.77 % 3.76 % 3.76 % 9.55 % 6.48 % 6.48 % 6.38 % 2.74 % 2.74 % 2.74 % 2.74 % Total return before incentive fees (2) 1.59 % 2.02 % 2.10 % -0.98 % -0.56 % -0.52 % 5.42 % 5.18 % 5.56 % 5.18 % 5.63 % Total return after incentive fees (2) 1.59 % 2.02 % 2.10 % -0.98 % -0.56 % -0.52 % 5.42 % 5.18 % 5.56 % 5.18 % 5.63 % Incentive fee per share - - - - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 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, March 31, 2019 $ 114.89 $ 132.01 $ 178.04 $ 154.27 $ 153.78 $ 70.76 $ 82.30 $ 107.99 Net operating results: Interest income 0.06 0.07 0.09 0.08 0.08 0.00 0.00 0.00 Expenses (2.00 ) (1.30 ) (1.76 ) (1.52 ) (1.52 ) (1.00 ) (0.52 ) (0.69 ) Net gain/(loss) on investments, net of non-controlling interests 3.41 3.91 5.28 4.66 4.57 6.27 6.56 9.66 Net income/(loss) 1.47 2.68 3.62 3.22 3.13 5.27 6.04 8.97 Net asset value, June 30, 2019 $ 116.36 $ 134.69 $ 181.66 $ 157.49 $ 156.91 $ 76.03 $ 88.34 $ 116.96 Ratios to average net assets Net investment income/(loss) -6.76 % -3.72 % -3.72 % -3.72 % -3.72 % -5.52 % -2.49 % -2.49 % Expenses before incentive fees (3)(4) 6.97 % 3.93 % 3.93 % 3.93 % 3.93 % 5.52 % 2.49 % 2.49 % Expenses after incentive fees (3)(4) 6.97 % 3.93 % 3.93 % 3.93 % 3.93 % 5.52 % 2.49 % 2.49 % Total return before incentive fees (2) 1.28 % 2.03 % 2.03 % 2.09 % 2.04 % 7.45 % 7.34 % 8.31 % Total return after incentive fees (2) 1.28 % 2.03 % 2.03 % 2.09 % 2.04 % 7.45 % 7.34 % 8.31 % Incentive fee per share - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Frontier Global Fund Frontier Heritage Fund Class 1 Class 1AP Class 2 Class 1 Class 1AP Class 2 Per unit operating performance (1) Net asset value, March 31, 2019 $ 136.33 $ 156.50 $ 195.48 $ 99.68 $ 112.44 $ 153.46 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (3.15 ) (2.42 ) (3.02 ) (1.71 ) (1.12 ) (1.46 ) Net gain/(loss) on investments, net of non-controlling interests 10.46 12.05 15.02 11.63 15.02 17.96 Net income/(loss) 7.31 9.63 12.00 9.92 13.90 16.50 Net asset value, June 30, 2019 $ 143.64 $ 166.13 $ 207.48 $ 109.60 $ 126.34 $ 169.96 Ratios to average net assets Net investment income/(loss) -9.11 % -6.07 % -6.07 % -6.76 % -3.71 % -3.71 % Expenses before incentive fees (3)(4) 9.11 % 6.07 % 6.07 % 6.76 % 3.71 % 3.71 % Expenses after incentive fees (3)(4) 9.11 % 6.07 % 6.07 % 6.76 % 3.71 % 3.71 % Total return before incentive fees (2) 5.36 % 6.15 % 6.14 % 9.95 % 12.36 % 10.75 % Total return after incentive fees (2) 5.36 % 6.15 % 6.14 % 9.95 % 12.36 % 10.75 % Incentive fee per share - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (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 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 is included in the total return. For the six months ended June 30, 2020 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, 2019 $ 101.10 $ 121.58 $ 113.61 $ 72.28 $ 87.18 $ 81.78 $ 44.20 $ 81.60 $ 52.55 $ 85.64 $ 55.31 Net operating results: Interest income 0.01 0.01 0.01 0.05 0.06 0.06 0.04 0.07 0.04 0.07 0.05 Expenses (3.31 ) (1.98 ) (1.76 ) (8.37 ) (2.64 ) (2.47 ) (1.44 ) (1.09 ) (0.70 ) (1.14 ) (0.74 ) Net gain/(loss) on investments, net of non-controlling interests (23.71 ) (29.73 ) (27.76 ) (2.04 ) (9.48 ) (8.81 ) 1.77 2.68 1.60 2.78 1.76 Net income/(loss) (27.01 ) (31.70 ) (29.52 ) (10.36 ) (12.05 ) (11.22 ) 0.37 1.67 0.94 1.71 1.07 Net asset value, June 30, 2020 $ 74.09 $ 89.88 $ 84.09 $ 61.92 $ 75.13 $ 70.56 $ 44.58 $ 83.27 $ 53.49 $ 87.35 $ 56.38 Ratios to average net assets Net investment income/(loss) -7.10 % -3.56 % -3.56 % -23.98 % -6.12 % -6.12 % -6.23 % -2.43 % -2.43 % -2.43 % -2.43 % Expenses before incentive fees (3)(4) 7.12 % 3.58 % 3.58 % 24.13 % 6.27 % 6.27 % 6.39 % 2.59 % 2.59 % 2.59 % 2.59 % Expenses after incentive fees (3)(4) 7.12 % 3.58 % 3.58 % 24.13 % 6.27 % 6.27 % 6.39 % 2.59 % 2.59 % 2.59 % 2.59 % Total return before incentive fees (2) -26.71 % -26.07 % -25.98 % -14.34 % -13.83 % -13.72 % 0.83 % 2.04 % 1.79 % 2.00 % 1.94 % Total return after incentive fees (2) -26.71 % -26.07 % -25.98 % -14.34 % -13.83 % -13.72 % 0.83 % 2.04 % 1.79 % 2.00 % 1.94 % Incentive fee per share - - - - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 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, December 31, 2019 $ 117.23 $ 137.81 $ 185.82 $ 161.04 $ 160.50 $ 66.56 $ 78.51 $ 103.94 Net operating results: Interest income 0.03 0.04 0.05 0.05 0.05 0.00 0.00 0.00 Expenses (3.37 ) (2.25 ) (3.03 ) (2.64 ) (2.62 ) (1.80 ) (0.96 ) (1.28 ) Net gain/(loss) on investments, net of non-controlling interests (35.30 ) (41.84 ) (56.41 ) (48.84 ) (48.69 ) (3.71 ) (4.65 ) (5.92 ) Net income/(loss) (38.64 ) (44.05 ) (59.38 ) (51.43 ) (51.26 ) (5.52 ) (5.61 ) (7.19 ) Net asset value, June 30, 2020 $ 78.59 $ 93.76 $ 126.44 $ 109.61 $ 109.24 $ 61.04 $ 72.90 $ 96.75 Ratios to average net assets Net investment income/(loss) -6.82 % -3.83 % -3.83 % -3.83 % -3.83 % -5.46 % -2.46 % -2.46 % Expenses before incentive fees (3)(4) 6.89 % 3.90 % 3.90 % 3.90 % 3.90 % 5.46 % 2.46 % 2.46 % Expenses after incentive fees (3)(4) 6.89 % 3.90 % 3.90 % 3.90 % 3.90 % 5.46 % 2.46 % 2.46 % Total return before incentive fees (2) -32.96 % -31.96 % -31.96 % -31.94 % -31.94 % -8.29 % -7.15 % -6.92 % Total return after incentive fees (2) -32.96 % -31.96 % -31.96 % -31.94 % -31.94 % -8.29 % -7.15 % -6.92 % Incentive fee per share - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Frontier Global 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, 2019 $ 131.52 $ 154.43 $ 192.82 $ 97.54 $ 114.15 $ 153.59 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (5.46 ) (4.07 ) (5.10 ) (3.60 ) (2.41 ) (3.23 ) Net gain/(loss) on investments, net of non-controlling interests (4.38 ) (5.00 ) (6.63 ) 2.57 3.51 3.87 Net income/(loss) (9.84 ) (9.08 ) (11.73 ) (1.03 ) 1.10 0.65 Net asset value, June 30, 2020 $ 121.68 $ 145.35 $ 181.09 $ 96.51 $ 115.25 $ 154.24 Ratios to average net assets Net investment income/(loss) -8.08 % -5.08 % -5.08 % -6.90 % -3.90 % -3.90 % Expenses before incentive fees (3)(4) 8.08 % 5.08 % 5.08 % 6.90 % 3.90 % 3.90 % Expenses after incentive fees (3)(4) 8.08 % 5.08 % 5.08 % 6.90 % 3.90 % 3.90 % Total return before incentive fees (2) -7.48 % -5.88 % -6.08 % -1.05 % 0.96 % 0.42 % Total return after incentive fees (2) -7.48 % -5.88 % -6.08 % -1.05 % 0.96 % 0.42 % Incentive fee per share - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (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 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 is included in the total return. For the six months ended June 30, 2019 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, 2018 $ 102.25 $ 120.84 $ 112.62 $ 91.10 $ 107.68 $ 100.77 $ 56.80 $ 98.82 $ 66.52 $ 103.66 $ 69.83 Net operating results: Interest income 0.04 0.05 0.05 0.04 0.05 0.05 0.03 0.05 0.03 0.05 0.03 Expenses (3.32 ) (2.16 ) (2.02 ) (3.59 ) (3.12 ) (2.92 ) (1.59 ) (1.25 ) (0.78 ) (1.31 ) (0.83 ) Net gain/(loss) on investments, net of non-controlling interests 3.47 3.38 3.31 (0.22 ) (0.51 ) (0.37 ) (2.38 ) 0.90 (3.53 ) 0.94 (3.58 ) Net income/(loss) 0.19 1.27 1.34 (3.77 ) (3.58 ) (3.24 ) (3.94 ) (0.30 ) (4.28 ) (0.32 ) (4.38 ) Net asset value, June 30, 2019 $ 102.44 $ 122.11 $ 113.96 $ 87.33 $ 104.10 $ 97.53 $ 52.86 $ 98.52 $ 62.24 $ 103.34 $ 65.45 Ratios to average net assets Net investment income/(loss) -13.31 % -7.23 % -7.23 % -16.90 % -12.15 % -12.15 % -12.58 % -5.12 % -5.12 % -5.12 % -5.12 % Expenses before incentive fees (3)(4) 13.49 % 7.40 % 7.40 % 17.10 % 12.35 % 12.35 % 12.80 % 5.34 % 5.34 % 5.34 % 5.34 % Expenses after incentive fees (3)(4) 13.49 % 7.40 % 7.40 % 17.10 % 12.35 % 12.35 % 12.80 % 5.34 % 5.34 % 5.34 % 5.34 % Total return before incentive fees (2) 0.19 % 1.05 % 1.19 % -4.14 % -3.32 % -3.22 % -6.94 % -0.30 % -6.43 % -0.31 % -6.27 % Total return after incentive fees (2) 0.19 % 1.05 % 1.19 % -4.14 % -3.32 % -3.22 % -6.94 % -0.30 % -6.43 % -0.31 % -6.27 % Incentive fee per share - - - - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 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, December 31, 2018 $ 117.63 $ 134.16 $ 180.94 $ 156.81 $ 156.26 $ 71.41 $ 82.48 $ 108.18 Net operating results: Interest income 0.10 0.12 0.16 0.14 0.14 0.00 0.00 0.00 Expenses (3.96 ) (2.60 ) (3.50 ) (3.04 ) (3.03 ) (1.92 ) (1.04 ) (1.33 ) Net gain/(loss) on investments, net of non-controlling interests 2.59 3.01 4.06 3.58 3.54 6.54 6.90 10.11 Net income/(loss) (1.27 ) 0.53 0.72 0.68 0.65 4.62 5.86 8.78 Net asset value, June 30, 2019 $ 116.36 $ 134.69 $ 181.66 $ 157.49 $ 156.91 $ 76.03 $ 88.34 $ 116.96 Ratios to average net assets Net investment income/(loss) -13.67 % -7.63 % -7.63 % -7.63 % -7.63 % -11.10 % -5.06 % -5.06 % Expenses before incentive fees (3)(4) 14.04 % 8.00 % 8.00 % 8.00 % 8.00 % 11.10 % 5.06 % 116.96 % Expenses after incentive fees (3)(4) 14.04 % 8.00 % 8.00 % 8.00 % 8.00 % 11.10 % 5.06 % 116.96 % Total return before incentive fees (2) -1.08 % 0.40 % 0.40 % 0.43 % 0.42 % 6.47 % 7.10 % 8.12 % Total return after incentive fees (2) -1.08 % 0.40 % 0.40 % 0.43 % 0.42 % 6.47 % 7.10 % 8.12 % Incentive fee per share - - - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Frontier Global 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, 2018 $ 131.57 $ 149.92 $ 187.17 $ 99.83 $ 111.78 $ 152.53 Net operating results: Interest income 0.00 0.00 0.00 0.00 0.00 0.00 Expenses (5.21 ) (3.73 ) (4.65 ) (3.24 ) (2.16 ) (2.75 ) Net gain/(loss) on investments, net of non-controlling interests 17.28 19.94 24.96 13.01 16.72 20.18 Net income/(loss) 12.07 16.21 20.31 9.77 14.56 17.43 Net asset value, June 30, 2019 $ 143.64 $ 166.13 $ 207.48 $ 109.60 $ 126.34 $ 169.96 Ratios to average net assets Net investment income/(loss) -15.82 % -9.78 % -9.78 % -13.39 % -7.34 % -7.34 % Expenses before incentive fees (3)(4) 15.82 % 9.78 % 9.78 % 13.39 % 7.34 % 7.34 % Expenses after incentive fees (3)(4) 15.82 % 9.78 % 9.78 % 13.39 % 7.34 % 7.34 % Total return before incentive fees (2) 9.17 % 10.81 % 10.85 % 9.79 % 13.03 % 11.43 % Total return after incentive fees (2) 9.17 % 10.81 % 10.85 % 9.79 % 13.03 % 11.43 % Incentive fee per share - - - - - - Incentive Fee to ANA 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (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 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 is included in the total return. |
Frontier Funds [Member] | |
Schedule of financial highlights of trust | Six months ended June 30 2020 2019 Ratios to average net assets (1) Net investment income/(loss) (1) -5.71 % -5.57 % Expenses before incentive fees (3) (4) 5.76 % -5.77 % Expenses after incentive fees (3) (4) 5.76 % 5.77 % Total return before incentive fees (2) -23.21 % 1.04 % Total return after incentive fees (2) -23.21 % 1.04 % Three months ended June 30 2020 2019 Ratios to average net assets (1) Net investment income/(loss) (1) -4.34 % -5.41 % Expenses before incentive fees (3) (4) -4.36 % 5.52 % Expenses after incentive fees (3) (4) -4.36 % 5.52 % Total return before incentive fees (2) -7.79 % 2.74 % Total return after incentive fees (2) -7.79 % 2.74 % (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) | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Schedule of averages futures contracts | For the Six Months ended June 30, 2020 Monthly average contracts: Bought Sold Frontier Balanced Fund 568 490 For the Six Months ended June 30, 2019 Monthly average contracts: Bought Sold Frontier Balanced Fund 480 581 |
Schedule of realized trading revenue from futures, forwards and options | Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2020 Type of contract Frontier Agriculturals $ 25,052 Currencies (89,048 ) Energies 14,070 Interest rates 128,434 Metals 316,370 Stock indices 25,681 Realized trading income/(loss) (1) $ 420,559 (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 Three Months Ended June 30, 2020 Type of contract Frontier Agriculturals $ (27,242 ) Currencies 3,074 Energies (9,668 ) Interest rates (113,962 ) Metals 10,260 Stock indices (77,990 ) Realized trading income/(loss) (1) $ (221,676 ) Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2019 Type of contract Frontier Agriculturals $ 18,952 Currencies (241,334 ) Energies (37,678 ) Interest rates 548,174 Metals 8,700 Stock indices (38,915 ) Realized trading income/(loss) (1) $ 257,899 Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended June 30, 2019 Type of contract Frontier Agriculturals $ 64,042 Currencies (123,270 ) Energies (7,996 ) Interest rates 312,541 Metals 13,674 Stock indices (5,618 ) Realized trading income/(loss) (1) $ 253,373 (1) Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options. |
Schedule of net trading gain loss | Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2020 Type of contract Frontier Agriculturals $ 14,916 Currencies (20,473 ) Energies (4,275 ) Interest rates 36,412 Metals (113,782 ) Stock indices 10,168 Change in unrealized trading income/(loss) (1) $ (77,034 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2020 Type of contract Frontier Agriculturals $ 32,288 Currencies (49,704 ) Energies (1,630 ) Interest rates 44,437 Metals (86,875 ) Stock indices 10,168 Change in unrealized trading income/(loss) (1) $ (51,316 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2019 Type of contract Frontier Agriculturals $ (41,639 ) Currencies (57,496 ) Energies 1,510 Interest rates (107,355 ) Metals 6,931 Stock indices 1,534 Change in unrealized trading income/(loss) (1) $ (196,515 ) (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2019 Type of contract Frontier Agriculturals $ (17,348 ) Currencies 16,367 Energies (7,260 ) Interest rates (99,664 ) Metals 4,519 Stock indices 9,106 Change in unrealized trading income/(loss) (1) $ (94,280 ) (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) |
Schedule of gross and net information about the Trust's assets and liabilities | As of June 30, 2020 Gross Gross Net Frontier Balanced Fund Open Trade Equity/(Deficit) $ 660,810 $ (668,927 ) $ (8,117 ) Swap Contracts 7,488,340 - 7,488,340 Frontier Diversified Fund Swap Contracts $ 4,629,556 $ - $ 4,629,556 Frontier Long/Short Commodity Fund Swap Contracts $ 582,519 $ - $ 582,519 As of December 31, 2019 Gross Gross Net Frontier Balanced Fund Open Trade Equity/(Deficit) $ 154,778 $ (38,594 ) $ 116,184 Swap Contracts 11,944,753 - $ 11,944,753 Frontier Diversified Fund Swap Contracts $ 6,384,583 $ - $ 6,384,583 Frontier Long/Short Commodity Fund Swap Contracts $ 362,521 $ - $ 362,521 Frontier Heritage Fund Swap Contracts $ 2,888,009 $ - $ 2,888,009 |
Frontier Funds [Member] | |
Schedule of realized trading revenue from futures, forwards and options | Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended June 30, 2020 Type of contract Agriculturals $ (27,242 ) Currencies (3,074 ) Energies (9,668 ) Interest rates (113,962 ) Metals 10,260 Stock indices (77,990 ) Realized trading income/(loss) (1) $ (221,676 ) Realized Trading Revenue from Futures, Forwards and Options for the Three Months Ended June 30, 2019 Type of contract Agriculturals $ 64,042 Currencies (190,296 ) Energies (7,996 ) Interest rates 312,541 Metals 5,826 Stock indices (5,618 ) Realized trading income/(loss) (1) $ 178,499 Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2020 Type of contract Agriculturals $ 25,052 Currencies (89,048 ) Energies 14,070 Interest rates 128,434 Metals 316,370 Stock indices 25,681 Realized trading income/(loss) (1) $ 420,559 Realized Trading Revenue from Futures, Forwards and Options for the Six Months Ended June 30, 2019 Type of contract Agriculturals $ 4,479 Currencies (690,957 ) Energies (592,892 ) Interest rates 862,211 Metals (611,514 ) Stock indices (73,178 ) Realized trading income/(loss) (1) $ (1,098,851 ) (1) Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options. |
Schedule of net trading gain loss | Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2020 Type of contract Agriculturals $ 32,288 Currencies (49,704 ) Energies (1,630 ) Interest rates 44,437 Metals (86,875 ) Stock indices 10,168 Change in unrealized trading income/(loss) (1) $ (51,316 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Three Months Ended June 30, 2019 Type of contract Agriculturals $ (17,348 ) Currencies 83,394 Energies 589 Interest rates (99,664 ) Metals 4,519 Stock indices 9,106 Change in unrealized trading income/(loss) (1) $ (19,404 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2020 Type of contract Agriculturals $ 14,916 Currencies (20,473 ) Energies (4,275 ) Interest rates 36,412 Metals (113,782 ) Stock indices 10,168 Change in unrealized trading income/(loss) (1) $ (77,034 ) Net Change in Open Trade Equity from Futures, Forwards and Options for the Six Months Ended June 30, 2019 Type of contract Agriculturals $ (96,927 ) Currencies 170,634 Energies 221,638 Interest rates (334,017 ) Metals 488,974 Stock indices 55,845 Change in unrealized trading income/(loss) (1) $ 506,147 (1) Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit) |
Schedule of gross and net information about the Trust's assets and liabilities | As of June 30, 2020 Gross Amounts Gross Net Open Trade Equity/(Deficit) $ 660,810 $ (668,927 ) $ (8,117 ) Swap Contracts $ 12,700,415 - $ 12,700,415 As of December 31, 2019 Gross Gross Net Open Trade Equity/(Deficit) $ 154,778 $ (38,594 ) $ 116,184 Swap Contracts 21,579,866 - 21,579,866 |
Organization and Purpose (The S
Organization and Purpose (The Series of the Frontier Funds) (Details) - The Series of Frontier Funds [Member] | 6 Months Ended |
Jun. 30, 2020 | |
Organization and Purpose (Textual) | |
Managing owner contributions to the series of the trust percentage | 1.00% |
Aggregate initial and ongoing service fees | 9.00% |
Aggregate underwriting compensation percentage | 10.00% |
Minimum [Member] | |
Organization and Purpose (Textual) | |
Assets normally invested in one or more trading companies | 30.00% |
Maximum [Member] | |
Organization and Purpose (Textual) | |
Assets normally invested in one or more trading companies | 70.00% |
Class 1 or Class 1a [Member] | |
Organization and Purpose (Textual) | |
Amortized monthly annual rate percentage | 2.00% |
Service fee percentage | 2.00% |
Redemption fee percentage | 2.00% |
Percentage of average daily NAV charged as a service fees | 3.00% |
Percentage of NAV charged as a service fees | 3.00% |
Class 2 or Class 2a [Member] | |
Organization and Purpose (Textual) | |
Service fee percentage | 0.50% |
Percentage of NAV charged as a service fees | 0.25% |
Organization and Purpose (Front
Organization and Purpose (Frontier Funds) (Details) - Frontier Fund [Member] | 6 Months Ended |
Jun. 30, 2020 | |
Organization and Purpose (Textual) | |
Managing owner contributions to the series of the trust percentage | 1.00% |
Percentage of assets invested in such trading company | 100.00% |
Aggregate initial and ongoing service fees | 9.00% |
Delaware statutory trust expire date | Dec. 31, 2053 |
Aggregate underwriting compensation percentage | 10.00% |
Percentage of average daily NAV charged as a service fees | 2.00% |
Percentage of NAV charged as a service fees | 3.00% |
Minimum [Member] | |
Organization and Purpose (Textual) | |
Assets normally invested in one or more trading companies | 30.00% |
Maximum [Member] | |
Organization and Purpose (Textual) | |
Assets normally invested in one or more trading companies | 70.00% |
Class 1 or Class 1a [Member] | |
Organization and Purpose (Textual) | |
Service fee percentage | 3.00% |
Redemption fee percentage | 2.00% |
Amortized monthly annual rate | 2.00% |
Class 2 and Class 2a [Member] | |
Organization and Purpose (Textual) | |
Service fee percentage | 0.50% |
Service fee charged to limited owners | 0.25% |
Significant Accounting Polici_3
Significant Accounting Policies (The Series of the Frontier Funds) (Details) - The Series of Frontier Funds [Member] - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Significant Accounting Policies (Textual) | ||
Managing owner percentage | 2.00% | |
Restricted cash | $ 1,708,173 | $ 2,890,330 |
Gross income of the Trust constitutes qualifying income | 90.00% | |
Incentive fees percentage | 10.00% | |
Incentive fee, description | The incentive fees earned by the commodity trading advisors up to 10% of new net profits. If the Managing Owner's share of the incentive fee exceeds 10% of new net profits during the period for a particular series, then the Managing Owner is obligated to return any amount in excess to the Series. | |
Frontier Diversified Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Advance for service fee | $ 22,649 | |
Frontier Long/Short Commodity Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Advance for service fee | 353 | |
Frontier Masters Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Advance for service fee | 31,725 | |
Frontier Balanced Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Advance for service fee | 335,700 | |
Frontier Select Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Advance for service fee | 18,431 | |
Frontier Global Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Advance for service fee | 152,714 | |
Frontier Heritage Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Advance for service fee | $ 60,428 | |
Class 1 or Class 1a [Member] | ||
Significant Accounting Policies (Textual) | ||
Amortized monthly annual rate percentage | 2.00% | |
Service fee percentage | 2.00% | |
Redemption fee percentage | 2.00% | |
Percentage of average daily NAV charged as a service fees | 3.00% | |
Percentage of NAV charged as a service fees | 3.00% | |
Class 2 or Class 2a [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 0.50% | |
Percentage of NAV charged as a service fees | 0.25% | |
Class 1AP, Class 2a and Class 3a [Member] | ||
Significant Accounting Policies (Textual) | ||
Aggregate interest income percentage | 100.00% |
Significant Accounting Polici_4
Significant Accounting Policies (Frontier Funds) (Details) - Frontier Fund [Member] - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Significant Accounting Policies (Textual) | ||
Gross income of the Trust constitutes qualifying income | 90.00% | |
Incentive fee, description | The Managing Owner is allowed to share in the incentive fees earned by the commodity trading advisors up to 10% of new net profits. If the Managing Owner's share of the incentive fee exceeds 10% of new net profits during the period, then the Managing Owner is obligated to return any amount in excess. | |
Subscriptions in advance | $ 622,000 | $ 598,042 |
Class 1AP, Class 2a and Class 3a [Member] | ||
Significant Accounting Policies (Textual) | ||
Aggregate interest income from all sources, including assets held at clearing brokers is paid to the Managing Owner | 100.00% | |
Class 2 and Class 2a [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 0.50% | |
Service fee charged to limited owners | 0.25% | |
Class 1 or Class 1a [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 3.00% | |
Amortized monthly annual rate | 2.00% | |
Redemption fee percentage | 2.00% | |
Class 1 or Class 1a [Member] | Frontier Diversified Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 2.00% | |
Amortized monthly annual rate | 2.00% | |
Redemption fee percentage | 2.00% | |
Class 1 or Class 1a [Member] | Frontier Masters Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 2.00% | |
Amortized monthly annual rate | 2.00% | |
Redemption fee percentage | 2.00% | |
Class 1 or Class 1a [Member] | Frontier Long/Short Commodity Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 2.00% | |
Amortized monthly annual rate | 2.00% | |
Redemption fee percentage | 2.00% | |
Class 1 or Class 1a [Member] | Frontier Balanced Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 3.00% | |
Amortized monthly annual rate | 3.00% | |
Redemption fee percentage | 3.00% | |
Class 1 or Class 1a [Member] | Frontier Heritage Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 3.00% | |
Amortized monthly annual rate | 3.00% | |
Redemption fee percentage | 3.00% | |
Class 1 or Class 1a [Member] | Frontier Select Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 3.00% | |
Amortized monthly annual rate | 3.00% | |
Redemption fee percentage | 3.00% | |
Class 1 or Class 1a [Member] | Frontier Global Fund [Member] | ||
Significant Accounting Policies (Textual) | ||
Service fee percentage | 3.00% | |
Amortized monthly annual rate | 3.00% | |
Redemption fee percentage | 3.00% | |
Frontier Trading Company I LLC [Member] | ||
Significant Accounting Policies (Textual) | ||
Restricted cash | $ 2,093,270 | $ 2,890,330 |
Fair Value Measurements (The Se
Fair Value Measurements (The Series of the Frontier Funds) (Details) - The Series of the Frontier Funds [Member] - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Frontier Diversified Fund [Member] | ||
Swap Contracts | $ 4,629,556 | $ 6,384,583 |
U.S. Treasury Securities | 113,957 | 99,605 |
Frontier Diversified Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment in Unconsolidated Trading Companies | 16,057 | 24,150 |
Swap Contracts | 4,629,556 | 6,384,583 |
U.S. Treasury Securities | 113,957 | 99,605 |
Frontier Diversified Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | 16,057 | 24,150 |
Swap Contracts | ||
U.S. Treasury Securities | 113,957 | 99,605 |
Frontier Diversified Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | ||
U.S. Treasury Securities | ||
Frontier Diversified Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | 4,629,556 | 6,384,583 |
U.S. Treasury Securities | ||
Frontier Masters Fund [Member] | ||
Swap Contracts | ||
U.S. Treasury Securities | 28,621 | 45,391 |
Frontier Masters Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment in Unconsolidated Trading Companies | 4,033 | 11,005 |
U.S. Treasury Securities | 28,621 | 45,391 |
Frontier Masters Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | 4,033 | 11,005 |
U.S. Treasury Securities | 28,621 | 45,391 |
Frontier Masters Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
U.S. Treasury Securities | ||
Frontier Masters Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
U.S. Treasury Securities | ||
Frontier Long/Short Commodity Fund [Member] | ||
Swap Contracts | 582,519 | 362,521 |
U.S. Treasury Securities | 45,654 | 60,673 |
Frontier Long/Short Commodity Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment in Unconsolidated Trading Companies | 6,433 | 14,711 |
Swap Contracts | 582,519 | 362,521 |
U.S. Treasury Securities | 45,654 | 60,673 |
Frontier Long/Short Commodity Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | 6,433 | 14,711 |
Swap Contracts | ||
U.S. Treasury Securities | 45,654 | 60,673 |
Frontier Long/Short Commodity Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | ||
U.S. Treasury Securities | ||
Frontier Long/Short Commodity Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | 582,519 | 362,521 |
U.S. Treasury Securities | ||
Frontier Balanced Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment in Unconsolidated Trading Companies | 18,685 | 50,867 |
Open Trade Equity (Deficit) | (8,117) | 116,184 |
Swap Contracts | 7,488,340 | 11,944,753 |
U.S. Treasury Securities | 132,605 | 209,799 |
Frontier Balanced Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | 18,685 | 50,867 |
Open Trade Equity (Deficit) | (8,117) | 57,057 |
Swap Contracts | ||
U.S. Treasury Securities | 132,605 | 209,799 |
Frontier Balanced Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Open Trade Equity (Deficit) | 59,127 | |
Swap Contracts | ||
U.S. Treasury Securities | ||
Frontier Balanced Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Open Trade Equity (Deficit) | ||
Swap Contracts | 7,488,340 | 11,944,753 |
U.S. Treasury Securities | ||
Frontier Select Fund [Member] | ||
Swap Contracts | ||
U.S. Treasury Securities | 524 | 108,603 |
Frontier Select Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment in Unconsolidated Trading Companies | 74 | 505,355 |
U.S. Treasury Securities | 524 | 108,603 |
Frontier Select Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | 74 | 26,331 |
U.S. Treasury Securities | 524 | 108,603 |
Frontier Select Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
U.S. Treasury Securities | ||
Frontier Select Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | 479,024 | |
U.S. Treasury Securities | ||
Frontier Global Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment in Unconsolidated Trading Companies | 3,259 | 11,818 |
U.S. Treasury Securities | 23,131 | 48,741 |
Frontier Global Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | 3,259 | 11,818 |
U.S. Treasury Securities | 23,131 | 48,741 |
Frontier Global Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
U.S. Treasury Securities | ||
Frontier Global Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
U.S. Treasury Securities | ||
Frontier Heritage Fund [Member] | ||
Swap Contracts | 2,888,008 | |
U.S. Treasury Securities | 262,615 | 77,916 |
Frontier Heritage Fund [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment in Unconsolidated Trading Companies | 37,004 | 18,891 |
Swap Contracts | 2,888,008 | |
U.S. Treasury Securities | 262,615 | 77,916 |
Frontier Heritage Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | 37,004 | 18,891 |
Swap Contracts | ||
U.S. Treasury Securities | 262,615 | 77,916 |
Frontier Heritage Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | ||
U.S. Treasury Securities | ||
Frontier Heritage Fund [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 Inputs [Member] | ||
Investment in Unconsolidated Trading Companies | ||
Swap Contracts | 2,888,008 | |
U.S. Treasury Securities |
Fair Value Measurements (The _2
Fair Value Measurements (The Series of the Frontier Funds) (Details 1) - The Series of Frontier Funds [Member] - Level 3 Inputs [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Frontier Balanced Fund [Member] | Swap [Member] | ||
Beginning, Balance of recurring Level 3 assets | $ 11,944,753 | $ 10,794,908 |
Total gains or losses (realized/unrealized): | ||
Included in earnings-realized | ||
Included in earnings-unrealized | (5,635,109) | 1,149,845 |
Proceeds from collateral reduction | ||
Purchase of investments | 1,178,696 | |
Change in ownership allocation | ||
Transfers in and/or out of Level 3 | ||
Ending, Balance of recurring Level 3 assets | 7,488,340 | 11,944,753 |
Frontier Long/Short Commodity Fund [Member] | Swap [Member] | ||
Beginning, Balance of recurring Level 3 assets | 362,521 | 479,102 |
Total gains or losses (realized/unrealized): | ||
Included in earnings-realized | ||
Included in earnings-unrealized | 219,997 | (116,581) |
Proceeds from collateral reduction | ||
Purchase of investments | ||
Change in ownership allocation | ||
Transfers in and/or out of Level 3 | ||
Ending, Balance of recurring Level 3 assets | 582,518 | 362,521 |
Frontier Diversified Fund [Member] | Swap [Member] | ||
Beginning, Balance of recurring Level 3 assets | 6,384,583 | 5,920,414 |
Total gains or losses (realized/unrealized): | ||
Included in earnings-realized | ||
Included in earnings-unrealized | (2,024,174) | 464,169 |
Proceeds from collateral reduction | ||
Purchase of investments | 269,147 | |
Change in ownership allocation | ||
Transfers in and/or out of Level 3 | ||
Ending, Balance of recurring Level 3 assets | 4,629,556 | 6,384,583 |
Frontier Heritage Fund [Member] | Swap [Member] | ||
Beginning, Balance of recurring Level 3 assets | 2,888,009 | 2,955,444 |
Total gains or losses (realized/unrealized): | ||
Included in earnings-realized | (97,745) | |
Included in earnings-unrealized | 197,829 | (67,435) |
Proceeds from collateral reduction | (2,474,937) | |
Purchase of investments | (513,156) | |
Change in ownership allocation | ||
Transfers in and/or out of Level 3 | ||
Ending, Balance of recurring Level 3 assets | 0 | 2,888,009 |
Frontier Select Fund [Member] | Investment in Unconsolidated Trading Companies [Member] | ||
Beginning, Balance of recurring Level 3 assets | 479,024 | 511,718 |
Total gains or losses (realized/unrealized): | ||
Change in fair value of investments in unconsolidated trading companies | (479,024) | (32,694) |
Proceeds from sales of investments of unconsolidated trading companies | ||
Purchases of investments of unconsolidated trading companies | ||
Change in ownership allocation | ||
Transfers in and/or out of Level 3 | ||
Ending, Balance of recurring Level 3 assets | $ 0 | $ 479,024 |
Fair Value Measurements (The _3
Fair Value Measurements (The Series of the Frontier Funds) (Details 2) - Swap Contracts [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
The Series of Frontier Funds [Member] | Frontier Diversified Fund [Member] | ||
Total change in unrealized appreciation (depreciation) | $ (2,024,174) | $ 464,169 |
The Series of Frontier Funds [Member] | Frontier Long/Short Commodity Fund [Member] | ||
Total change in unrealized appreciation (depreciation) | 219,997 | (116,581) |
The Series of Frontier Funds [Member] | Frontier Balanced Fund [Member] | ||
Total change in unrealized appreciation (depreciation) | (5,635,109) | 1,149,845 |
The Series of Frontier Funds [Member] | Frontier Heritage Fund [Member] | ||
Total change in unrealized appreciation (depreciation) | 197,829 | (67,436) |
Investments in Unconsolidated Trading Companies [Member] | Frontier Select Fund [Member] | ||
Total change in unrealized appreciation (depreciation) | $ 0 | $ (32,694) |
Fair Value Measurements (Fronti
Fair Value Measurements (Frontier Funds) (Details) - Fair Value, Measurements, Recurring [Member] - Frontier Funds [Member] - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Open Trade Equity (Deficit) | $ (8,117) | $ 116,184 |
Swap Contracts | 12,700,415 | 21,579,865 |
U.S. Treasury Securities | 607,107 | 650,728 |
Level 1 Inputs [Member] | ||
Open Trade Equity (Deficit) | (8,117) | 57,056 |
Swap Contracts | ||
U.S. Treasury Securities | 607,107 | 650,728 |
Level 2 Inputs [Member] | ||
Open Trade Equity (Deficit) | 59,128 | |
Swap Contracts | ||
U.S. Treasury Securities | ||
Level 3 Inputs [Member] | ||
Open Trade Equity (Deficit) | ||
Swap Contracts | 12,700,415 | 21,579,865 |
U.S. Treasury Securities |
Fair Value Measurements (Fron_2
Fair Value Measurements (Frontier Funds) (Details 1) - Level 3 Inputs [Member] - Frontier Funds [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Beginning, Balance of recurring Level 3 assets | $ 21,579,865 | $ 20,149,868 |
Total gains or losses (realized/unrealized): | ||
Included in earnings-realized | (189,734) | |
Included in earnings-unrealized | (7,241,457) | 1,429,997 |
Proceeds from collateral reduction | (2,382,947) | |
Purchase/(sale) of investments | 934,688 | |
Sale of investments | ||
Transfers in and/or out of Level 3 | ||
Ending, Balance of recurring Level 3 assets | $ 12,700,415 | $ 21,579,865 |
Fair Value Measurements (Fron_3
Fair Value Measurements (Frontier Funds) (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Swap [Member] | Frontier Funds [Member] | ||
Total change in unrealized appreciation (depreciation) | $ (7,241,457) | $ 1,429,997 |
Swap Contracts (The Series of t
Swap Contracts (The Series of the Frontier Funds) (Details) - The Series of Frontier Funds [Member] - Swap [Member] - DeutscheBank AG [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Frontier Balanced Fund [Member] | ||
Notional Amount | $ 7,420,403 | $ 7,420,403 |
Termination Date | Jul. 31, 2023 | Jul. 31, 2023 |
Cash Collateral | $ 1,264,696 | $ 86,000 |
Swap Value | $ 6,223,644 | $ 11,858,754 |
Investee Returns | Total Returns | Total Returns |
Realized Gain/(Loss) | $ 0 | $ 0 |
Change in Unrealized Gain/(Loss) | (5,635,109) | 1,149,846 |
Fair Value | 7,488,340 | 11,944,754 |
Advance on swap appreciation | (6,176,555) | (6,176,555) |
Frontier Diversified Fund [Member] | ||
Notional Amount | $ 1,761,834 | $ 1,761,834 |
Termination Date | Jul. 31, 2023 | Jul. 31, 2023 |
Cash Collateral | $ 555,147 | $ 86,000 |
Swap Value | $ 4,274,409 | $ 6,298,583 |
Investee Returns | Total Returns | Total Returns |
Realized Gain/(Loss) | $ 0 | $ 0 |
Change in Unrealized Gain/(Loss) | (2,024,174) | 464,169 |
Fair Value | 4,629,556 | 6,384,583 |
Advance on swap appreciation | (4,000,000) | (4,000,000) |
Frontier Long/Short Commodity Fund [Member] | ||
Notional Amount | $ 653,610 | $ 653,610 |
Termination Date | Jul. 31, 2023 | Jul. 31, 2023 |
Cash Collateral | $ 29,950 | $ 29,950 |
Swap Value | $ 552,569 | $ 332,571 |
Investee Returns | Total Returns | Total Returns |
Realized Gain/(Loss) | $ 0 | $ 0 |
Change in Unrealized Gain/(Loss) | 219,997 | (116,581) |
Fair Value | 582,519 | 362,521 |
Advance on swap appreciation | $ (115,000) | (115,000) |
Frontier Heritage Fund [Member] | ||
Notional Amount | $ 2,072,056 | |
Termination Date | Mar. 27, 2023 | |
Cash Collateral | $ 975,450 | |
Swap Value | $ 1,912,559 | |
Investee Returns | Total Returns | |
Realized Gain/(Loss) | $ 0 | |
Change in Unrealized Gain/(Loss) | (67,435) | |
Fair Value | 2,888,009 | |
Advance on swap appreciation | $ (1,900,000) |
Swap Contracts (The Series of_2
Swap Contracts (The Series of the Frontier Funds) (Details Textual) - The Series of Frontier Funds [Member] - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Swap Contracts (The Series of the Frontier Funds) (Textual) | ||
Percentage of trust's assets were deposited with over-the-counter counterparties | 5.33% | 2.40% |
Cash holding shall be in excess amount | $ 250,000 | |
Percentage of index exposure total | 40.00% | |
Frontier Balanced Fund [Member] | ||
Swap Contracts (The Series of the Frontier Funds) (Textual) | ||
Advance on unrealized swap appreciation | $ 6,176,555 | |
Frontier Diversified Fund [Member] | ||
Swap Contracts (The Series of the Frontier Funds) (Textual) | ||
Advance on unrealized swap appreciation | 4,000,000 | $ 4,000,000 |
Frontier Long/Short Commodity Fund [Member] | ||
Swap Contracts (The Series of the Frontier Funds) (Textual) | ||
Advance on unrealized swap appreciation | $ 115,000 | $ 115,000 |
Swap Contracts (Frontier Funds)
Swap Contracts (Frontier Funds) (Details) - Frontier Funds [Member] - DeutscheBank AG [Member] - Swap [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
XXXIV Balanced Select Swap [Member] | ||
Counterparty | ||
Notional Amount | $ 7,420,403 | $ 7,420,403 |
Termination Date | Jul. 31, 2023 | Jul. 31, 2023 |
Cash Collateral | $ 1,264,696 | $ 86,000 |
Swap Value | $ 6,223,644 | $ 11,858,754 |
Investee Returns | Total Returns | Total Returns |
Realized Gain/(Loss) | $ 0 | $ 0 |
Change in Unrealized Gain/(Loss) | (5,635,109) | 1,149,846 |
Fair Value | 7,488,340 | 11,944,754 |
Advance on swap appreciation | (6,176,555) | (6,176,555) |
XXXV Diversified Select Swap [Member] | ||
Counterparty | ||
Notional Amount | $ 1,761,834 | $ 1,761,834 |
Termination Date | Jul. 31, 2023 | Jul. 31, 2023 |
Cash Collateral | $ 555,147 | $ 86,000 |
Swap Value | $ 4,274,409 | $ 6,298,583 |
Investee Returns | Total Returns | Total Returns |
Realized Gain/(Loss) | $ 0 | $ 0 |
Change in Unrealized Gain/(Loss) | (2,024,174) | 464,169 |
Fair Value | 4,629,556 | 6,384,583 |
Advance on swap appreciation | (4,000,000) | (4,000,000) |
XXXVII L/S Select Swap [Member] | ||
Counterparty | ||
Notional Amount | $ 653,610 | $ 653,610 |
Termination Date | Jul. 31, 2023 | Jul. 31, 2023 |
Cash Collateral | $ 29,950 | $ 29,950 |
Swap Value | $ 522,569 | $ 332,571 |
Investee Returns | Total Returns | Total Returns |
Realized Gain/(Loss) | $ 0 | $ 0 |
Change in Unrealized Gain/(Loss) | 219,997 | (116,581) |
Fair Value | 582,519 | 362,521 |
Advance on swap appreciation | $ (115,000) | (115,000) |
Brevan Howard [Member] | ||
Counterparty | ||
Notional Amount | $ 2,072,056 | |
Termination Date | Mar. 27, 2023 | |
Cash Collateral | $ 975,450 | |
Swap Value | $ 1,912,559 | |
Investee Returns | Total Returns | |
Realized Gain/(Loss) | $ 0 | |
Change in Unrealized Gain/(Loss) | (67,435) | |
Fair Value | 2,888,009 | |
Advance on swap appreciation | $ (1,900,000) |
Swap Contracts (Frontier Fund_2
Swap Contracts (Frontier Funds) (Details Textual) - Frontier Funds [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Swaps Contracts (Textual) | ||
Description of deposits assets | 5.33% or $1,649,793 | 2.4% or $1,177,400 |
Cash holding shall be in excess amount | $ 250,000 | |
Percentage of index exposure total | 40.00% | |
XXXIV Balanced Select Swap [Member] | ||
Swaps Contracts (Textual) | ||
Advance on unrealized swap appreciation | $ 6,176,555 | |
XXXV Diversified Select Swap [Member] | ||
Swaps Contracts (Textual) | ||
Advance on unrealized swap appreciation | 4,000,000 | |
XXXVII Long/Short select swap [Member] | ||
Swaps Contracts (Textual) | ||
Advance on unrealized swap appreciation | $ 115,000 |
Investments in Unconsolidated_3
Investments in Unconsolidated Trading Companies and Private Investment Companies (The Series of the Frontier Funds) (Details) - The Series of Frontier Funds [Member] - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | |
Frontier Diversified Fund [Member] | |||
Fair Value | $ 16,057 | $ 24,150 | |
Frontier Diversified Fund [Member] | Frontier Trading XXXVIII [Member] | |||
Percentage of Series Total Capital Invested in Unconsolidated Trading Companies | 0.25% | 0.20% | |
Fair Value | $ 16,057 | $ 24,150 | |
Frontier Masters Fund [Member] | |||
Fair Value | $ 4,033 | $ 11,005 | |
Frontier Masters Fund [Member] | Frontier Trading XXXVIII [Member] | |||
Percentage of Series Total Capital Invested in Unconsolidated Trading Companies | 0.25% | 0.49% | |
Fair Value | $ 4,033 | $ 11,005 | |
Frontier Long/Short Commodity Fund [Member] | |||
Fair Value | $ 6,433 | $ 14,711 | |
Frontier Long/Short Commodity Fund [Member] | Frontier Trading Company XXXVIII [Member] | |||
Percentage of Series Total Capital Invested in Unconsolidated Trading Companies | 0.49% | 1.10% | |
Fair Value | $ 6,433 | $ 14,711 | |
Frontier Balanced Fund [Member] | Frontier Trading XXXVIII [Member] | |||
Percentage of Series Total Capital Invested in Unconsolidated Trading Companies | 0.14% | 0.23% | |
Fair Value | $ 18,685 | $ 50,867 | |
Frontier Select Fund [Member] | |||
Fair Value | $ 74 | $ 505,355 | |
Frontier Select Fund [Member] | Frontier Trading Companies XXXVIII and XXXIX [Member] | |||
Percentage of Series Total Capital Invested in Unconsolidated Trading Companies | [1] | 0.01% | 17.94% |
Fair Value | [1] | $ 74 | $ 505,355 |
Frontier Global Fund (formerly Frontier Winton Fund) [Member] | |||
Fair Value | $ 3,259 | $ 11,818 | |
Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Frontier Trading XXXVIII [Member] | |||
Percentage of Series Total Capital Invested in Unconsolidated Trading Companies | 0.08% | 0.25% | |
Fair Value | $ 3,259 | $ 11,818 | |
Frontier Heritage Fund [Member] | |||
Fair Value | $ 37,004 | $ 18,891 | |
Frontier Heritage Fund [Member] | Frontier Trading XXXVIII [Member] | |||
Percentage of Series Total Capital Invested in Unconsolidated Trading Companies | 1.35% | 0.57% | |
Fair Value | $ 37,004 | $ 18,891 | |
[1] | The investment in Frontier Trading Company XXXIX was sold as of June 30, 2020. |
Investments in Unconsolidated_4
Investments in Unconsolidated Trading Companies and Private Investment Companies (The Series of the Frontier Funds) (Details 1) - The Series of Frontier Funds [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Frontier Balanced Fund [Member] | ||||
Trading Commissions | $ (53,033) | $ (174,485) | $ (53,033) | $ (360,283) |
Realized Gain/(Loss) | (1,239,030) | (1,375,164) | (1,332,630) | 1,078,230 |
Change in Unrealized Gain/(Loss) | 250,098 | 2,097,671 | 133,104 | (151,975) |
Net Income (Loss) | (1,041,965) | 548,022 | (1,252,559) | 565,972 |
Frontier Balanced Fund [Member] | Frontier Trading Company II, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 382 | (138,899) | ||
Net Income (Loss) | 382 | (138,899) | ||
Frontier Balanced Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 13,836 | (1,743) | (9,465) | (732) |
Net Income (Loss) | 13,836 | (1,743) | (9,465) | (732) |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | ||||
Trading Commissions | (5,100) | (7,956) | (5,100) | (22,370) |
Realized Gain/(Loss) | (88,960) | 500,989 | 12,484 | 635,922 |
Change in Unrealized Gain/(Loss) | (255,603) | (261,813) | 4,697 | 201,668 |
Net Income (Loss) | (349,663) | 231,220 | 12,081 | 815,220 |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | ||||
Trading Commissions | (2,152) | (7,282) | (2,152) | (17,895) |
Realized Gain/(Loss) | (49,427) | 9,117 | (55,735) | 46,071 |
Change in Unrealized Gain/(Loss) | 67,132 | (12,265) | 25,524 | (78,813) |
Net Income (Loss) | 15,553 | (10,430) | (32,363) | (50,637) |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (6,408) | (104,751) | (6,408) | (173,562) |
Realized Gain/(Loss) | (407,643) | (3,311,760) | (718,397) | (1,016,391) |
Change in Unrealized Gain/(Loss) | 414,194 | 2,622,781 | 81,531 | (35,635) |
Net Income (Loss) | 143 | (793,730) | (643,274) | (1,225,588) |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | ||||
Trading Commissions | (15,974) | (9,768) | (15,974) | (18,736) |
Realized Gain/(Loss) | (403,362) | 526,833 | (324,444) | 1,292,724 |
Change in Unrealized Gain/(Loss) | 546,868 | (184,438) | 189,882 | (74,396) |
Net Income (Loss) | 127,532 | 332,627 | (150,536) | 1,199,592 |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | ||||
Trading Commissions | (502) | (502) | ||
Realized Gain/(Loss) | (239,751) | (232,245) | ||
Change in Unrealized Gain/(Loss) | 237,492 | 305,427 | (21,665) | 286,677 |
Net Income (Loss) | (2,761) | 305,427 | (254,412) | 286,677 |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | ||||
Trading Commissions | (8,555) | (21,074) | (8,555) | (49,975) |
Realized Gain/(Loss) | (693,367) | (328,285) | (667,819) | (936,608) |
Change in Unrealized Gain/(Loss) | 349,783 | 179,439 | 50,898 | 185,088 |
Net Income (Loss) | (352,139) | (169,920) | (625,476) | (801,495) |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC [Member] | ||||
Trading Commissions | (25,311) | |||
Realized Gain/(Loss) | 24,230 | |||
Change in Unrealized Gain/(Loss) | (105,511) | (121,258) | ||
Net Income (Loss) | (105,511) | (122,339) | ||
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | ||||
Trading Commissions | (1,701) | (2,518) | (1,701) | (6,786) |
Realized Gain/(Loss) | 79,790 | 56,051 | 56,595 | 45,834 |
Change in Unrealized Gain/(Loss) | (195,781) | (6,885) | (28,862) | 20,454 |
Net Income (Loss) | (117,692) | 46,648 | 26,032 | 59,502 |
Frontier Balanced Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (12,641) | (21,136) | (12,641) | (45,648) |
Realized Gain/(Loss) | 563,690 | 1,171,891 | 596,931 | 986,448 |
Change in Unrealized Gain/(Loss) | (927,823) | (437,703) | (159,436) | (396,129) |
Net Income (Loss) | (376,774) | 713,052 | 424,854 | 544,671 |
Frontier Global Fund [Member] | ||||
Trading Commissions | (8,398) | (99,335) | (8,398) | (153,661) |
Realized Gain/(Loss) | (308,501) | 940,770 | 1,517 | 1,206,683 |
Change in Unrealized Gain/(Loss) | (323,678) | (365,499) | (79,633) | (217,242) |
Net Income (Loss) | (640,577) | 475,936 | 86,874 | 835,780 |
Frontier Global Fund [Member] | Frontier Trading Company II, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | (23,564) | (337,431) | ||
Net Income (Loss) | (23,564) | (337,431) | ||
Frontier Global Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 4,623 | (178) | (454) | (14,574) |
Net Income (Loss) | 4,623 | (178) | (454) | (14,574) |
Frontier Global Fund [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | ||||
Trading Commissions | (8,398) | (99,335) | (8,398) | (153,661) |
Realized Gain/(Loss) | (308,501) | 940,770 | 1,517 | 1,206,683 |
Change in Unrealized Gain/(Loss) | (328,301) | (341,757) | (79,179) | 134,763 |
Net Income (Loss) | (645,200) | 499,678 | (86,420) | 1,187,785 |
Frontier Select Fund [Member] | ||||
Trading Commissions | (9,517) | (38,553) | (9,517) | (78,339) |
Realized Gain/(Loss) | (50,583) | 502,795 | (42,660) | 482,430 |
Change in Unrealized Gain/(Loss) | (64,299) | (149,166) | (93,780) | (82,670) |
Net Income (Loss) | (124,399) | 315,076 | (145,957) | 321,421 |
Frontier Select Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | (143) | (535) | (6,672) | (1,672) |
Net Income (Loss) | (143) | (535) | (6,672) | (1,672) |
Frontier Select Fund [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | (1,616) | (1,616) | ||
Net Income (Loss) | (1,616) | (1,616) | ||
Frontier Select Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (4,125) | (18,439) | (4,125) | (39,911) |
Realized Gain/(Loss) | 170,109 | 189,845 | 195,063 | 222,739 |
Change in Unrealized Gain/(Loss) | (288,624) | (130,938) | (52,502) | 47,068 |
Net Income (Loss) | (122,640) | 40,468 | 138,436 | 141,760 |
Frontier Select Fund [Member] | Frontier Trading Company XXXIX, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 63,719 | 39,383 | ||
Net Income (Loss) | 63,719 | 39,383 | ||
Frontier Select Fund [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | ||||
Trading Commissions | (5,392) | (20,114) | (5,392) | (44,428) |
Realized Gain/(Loss) | (220,692) | 312,950 | (237,723) | 259,691 |
Change in Unrealized Gain/(Loss) | 226,084 | (81,412) | (32,990) | (73,313) |
Net Income (Loss) | 211,424 | (276,105) | 141,950 | |
Frontier Heritage Fund [Member] | ||||
Trading Commissions | (6,652) | (46,316) | (6,652) | (91,421) |
Realized Gain/(Loss) | 175,747 | 525,113 | 180,118 | 530,044 |
Change in Unrealized Gain/(Loss) | (512,711) | (177,497) | (102,700) | (60,196) |
Net Income (Loss) | (343,616) | 301,300 | 70,766 | 378,427 |
Frontier Heritage Fund [Member] | Frontier Trading Company II, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | (5,368) | (59,538) | ||
Net Income (Loss) | (5,368) | (59,538) | ||
Frontier Heritage Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 2,779 | (1,597) | (3,324) | (4,379) |
Net Income (Loss) | 2,779 | (1,597) | (3,324) | (4,379) |
Frontier Heritage Fund [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | ||||
Trading Commissions | (2,774) | (24,706) | (2,774) | (41,734) |
Realized Gain/(Loss) | (35,321) | 183,352 | (1,359) | 245,955 |
Change in Unrealized Gain/(Loss) | (179,266) | (87,492) | (36,695) | 67,220 |
Net Income (Loss) | (217,361) | 71,154 | (40,828) | 271,441 |
Frontier Heritage Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (3,878) | (21,610) | (3,878) | (49,687) |
Realized Gain/(Loss) | 211,068 | 341,761 | 181,477 | 284,089 |
Change in Unrealized Gain/(Loss) | (336,224) | (83,040) | (62,681) | (63,499) |
Net Income (Loss) | (129,034) | 237,111 | 114,918 | 170,903 |
Frontier Long/Short Commodity Fund [Member] | ||||
Trading Commissions | (3,236) | (34,737) | (3,236) | (61,854) |
Realized Gain/(Loss) | (75,895) | (484,849) | (143,266) | (253,821) |
Change in Unrealized Gain/(Loss) | 35,188 | 666,439 | (29,359) | 326,887 |
Net Income (Loss) | (43,943) | 146,853 | (175,861) | 11,212 |
Frontier Long/Short Commodity Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 1,630 | (469) | (3,076) | (1,029) |
Net Income (Loss) | 1,630 | (469) | (3,076) | (1,029) |
Frontier Long/Short Commodity Fund [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (938) | (22,997) | (938) | (37,828) |
Realized Gain/(Loss) | (41,364) | (636,737) | (103,100) | (379,307) |
Change in Unrealized Gain/(Loss) | 42,301 | 537,573 | 8,652 | 229,576 |
Net Income (Loss) | (1) | (122,161) | (95,386) | (187,559) |
Frontier Long/Short Commodity Fund [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | ||||
Trading Commissions | (672) | (672) | ||
Realized Gain/(Loss) | (117,782) | (116,962) | ||
Change in Unrealized Gain/(Loss) | 122,271 | 172,203 | (15,470) | 142,869 |
Net Income (Loss) | 3,817 | 172,203 | (133,104) | 142,869 |
Frontier Long/Short Commodity Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (1,626) | (11,740) | (1,626) | (24,026) |
Realized Gain/(Loss) | 83,251 | 151,888 | 76,796 | 125,486 |
Change in Unrealized Gain/(Loss) | (131,014) | (42,868) | (19,465) | (44,529) |
Net Income (Loss) | (49,389) | 97,280 | 55,705 | 56,931 |
Frontier Long/Short Commodity Fund [Member] | Ches apeake Feede Fund (518) LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | ||||
Net Income (Loss) | ||||
Frontier Diversified Fund [Member] | ||||
Trading Commissions | (32,902) | (128,230) | (32,902) | (254,012) |
Realized Gain/(Loss) | (481,959) | (922,162) | (631,755) | 393,291 |
Change in Unrealized Gain/(Loss) | 45,400 | 1,418,819 | 159,677 | 254,953 |
Net Income (Loss) | (469,461) | 368,427 | (504,980) | 394,232 |
Frontier Diversified Fund [Member] | Frontier Trading Company II, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | (711) | (76,616) | ||
Net Income (Loss) | (711) | (76,616) | ||
Frontier Diversified Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 4,032 | (403) | 3,023 | (8,996) |
Net Income (Loss) | 4,032 | (403) | 3,023 | (8,996) |
Frontier Diversified Fund [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | ||||
Trading Commissions | (3,370) | (9,102) | (3,370) | (19,559) |
Realized Gain/(Loss) | (56,966) | 292,763 | 31,349 | 379,795 |
Change in Unrealized Gain/(Loss) | (142,153) | (123,620) | 10,159 | 103,977 |
Net Income (Loss) | (202,489) | 160,041 | 38,138 | 464,213 |
Frontier Diversified Fund [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | ||||
Trading Commissions | (1,348) | (6,039) | (1,348) | (14,073) |
Realized Gain/(Loss) | (29,090) | 5,628 | (39,612) | 28,047 |
Change in Unrealized Gain/(Loss) | 38,354 | (8,508) | 17,676 | (48,988) |
Net Income (Loss) | 7,916 | (8,919) | (23,284) | (35,014) |
Frontier Diversified Fund [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (4,119) | (67,124) | (4,119) | (108,956) |
Realized Gain/(Loss) | (194,763) | (2,123,330) | (463,144) | (912,164) |
Change in Unrealized Gain/(Loss) | 198,882 | 1,689,124 | 53,938 | 268,101 |
Net Income (Loss) | (501,330) | (413,325) | (753,019) | |
Frontier Diversified Fund [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | ||||
Trading Commissions | (11,130) | (11,268) | (11,130) | (20,998) |
Realized Gain/(Loss) | (310,674) | 351,448 | (201,658) | 811,110 |
Change in Unrealized Gain/(Loss) | 377,368 | (127,805) | 79,262 | (57,565) |
Net Income (Loss) | 55,564 | 212,375 | (133,526) | 732,547 |
Frontier Diversified Fund [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | ||||
Trading Commissions | (309) | (309) | ||
Realized Gain/(Loss) | (148,003) | (144,282) | ||
Change in Unrealized Gain/(Loss) | 146,562 | 152,338 | (12,689) | 144,793 |
Net Income (Loss) | (1,750) | 152,338 | (157,280) | 144,793 |
Frontier Diversified Fund [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | ||||
Trading Commissions | (3,841) | (15,429) | (3,841) | (35,222) |
Realized Gain/(Loss) | (190,864) | (184,729) | (244,235) | (573,436) |
Change in Unrealized Gain/(Loss) | 79,076 | 103,314 | 46,440 | 114,005 |
Net Income (Loss) | (115,629) | (96,844) | (201,636) | (494,653) |
Frontier Diversified Fund [Member] | Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC [Member] | ||||
Trading Commissions | (13,254) | |||
Realized Gain/(Loss) | 10,639 | |||
Change in Unrealized Gain/(Loss) | (700) | (7,477) | ||
Net Income (Loss) | (700) | (10,092) | ||
Frontier Diversified Fund [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | ||||
Trading Commissions | (1,514) | (2,990) | (1,514) | (7,948) |
Realized Gain/(Loss) | 65,761 | 50,835 | 53,754 | 45,318 |
Change in Unrealized Gain/(Loss) | (153,963) | (9,848) | (19,897) | 20,527 |
Net Income (Loss) | (89,716) | 37,997 | 32,343 | 57,897 |
Frontier Diversified Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (7,271) | (16,278) | (7,271) | (34,002) |
Realized Gain/(Loss) | 382,640 | 685,223 | 376,073 | 603,982 |
Change in Unrealized Gain/(Loss) | (502,758) | (254,362) | (18,235) | (196,808) |
Net Income (Loss) | (127,389) | 414,583 | 350,567 | 373,172 |
Frontier Masters Fund [Member] | ||||
Trading Commissions | (7,448) | (81,437) | (7,448) | (170,303) |
Realized Gain/(Loss) | 54,797 | (534,537) | (180,340) | 360,015 |
Change in Unrealized Gain/(Loss) | (258,310) | 684,900 | (18,098) | (221,650) |
Net Income (Loss) | (210,961) | 68,926 | (205,886) | (31,938) |
Frontier Masters Fund [Member] | Frontier Trading Company II, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | (4,502) | (65,952) | ||
Net Income (Loss) | (4,502) | (65,952) | ||
Frontier Masters Fund [Member] | Frontier Trading Company XXXVIII, LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 4,207 | (1,781) | (2,275) | (1,558) |
Net Income (Loss) | 4,207 | (1,781) | (2,275) | (1,558) |
Frontier Masters Fund [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | ||||
Trading Commissions | (2,049) | (17,715) | (2,049) | (31,863) |
Realized Gain/(Loss) | (30,225) | 168,928 | (1,588) | 231,766 |
Change in Unrealized Gain/(Loss) | (132,672) | (60,575) | (28,072) | 69,765 |
Net Income (Loss) | (164,946) | 90,638 | (31,709) | 269,668 |
Frontier Masters Fund [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | 88 | 88 | ||
Net Income (Loss) | 88 | 88 | ||
Frontier Masters Fund [Member] | Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (1,540) | (41,279) | (1,540) | (81,588) |
Realized Gain/(Loss) | 58,199 | (1,069,832) | (190,409) | (163,846) |
Change in Unrealized Gain/(Loss) | (56,659) | 878,048 | 31,680 | (188,680) |
Net Income (Loss) | (233,063) | (160,269) | (434,114) | |
Frontier Masters Fund [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (2,008) | (7,140) | (2,008) | (17,916) |
Realized Gain/(Loss) | 117,030 | 82,721 | 95,916 | 77,286 |
Change in Unrealized Gain/(Loss) | (165,332) | (37,533) | (9,097) | 47,910 |
Net Income (Loss) | (50,310) | 38,048 | 84,811 | 107,280 |
Frontier Masters Fund [Member] | Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | ||||
Trading Commissions | (1,851) | (15,303) | (1,851) | (38,936) |
Realized Gain/(Loss) | (90,207) | 283,646 | (84,259) | 214,809 |
Change in Unrealized Gain/(Loss) | 92,058 | (88,757) | (10,422) | (83,135) |
Net Income (Loss) | 179,586 | (96,532) | 92,738 | |
Frontier Masters Fund [Member] | Ches apeake Feede Fund (518) LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | ||||
Net Income (Loss) |
Investments in Unconsolidated_5
Investments in Unconsolidated Trading Companies and Private Investment Companies (The Series of the Frontier Funds) (Details 2) - The Series of Frontier Funds [Member] | 6 Months Ended |
Jun. 30, 2020 | |
Frontier Diversified Fund [Member] | Multi-Strategy [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Diversified Fund [Member] | Multi-Strategy [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Diversified Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Diversified Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Diversified Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Diversified Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Diversified Fund [Member] | Option Trading [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Masters Fund [Member] | Multi-Strategy [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Masters Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Long/Short Commodity Fund [Member] | Multi-Strategy [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Long/Short Commodity Fund [Member] | Multi-Strategy [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Balanced Fund [Member] | Multi-Strategy [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Balanced Fund [Member] | Multi-Strategy [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Balanced Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Balanced Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Balanced Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Balanced Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Balanced Fund [Member] | Option Trading [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Select Fund [Member] | Multi-Strategy [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Trend Following [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Heritage Fund [Member] | Multi-Strategy [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Frontier Heritage Fund [Member] | Trend Following [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Investments in Private Investme
Investments in Private Investment Companies (Frontier Funds) (Details) - Frontier Funds [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Trading Commissions | $ (3,683) | $ (9,167) | $ (12,058) | $ (20,240) |
Realized Gain/(Loss) | (1,925,424) | (1,348,034) | (2,149,376) | 3,796,872 |
Change in Unrealized Gain/(Loss) | (859,278) | 4,103,867 | (8,546) | 440,067 |
Net Income (Loss) | (2,905,888) | 2,152,740 | (2,279,108) | 3,067,066 |
Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | ||||
Trading Commissions | (21,691) | (158,814) | (21,691) | (269,187) |
Realized Gain/(Loss) | (519,973) | 2,086,802 | 42,043 | 2,700,121 |
Change in Unrealized Gain/(Loss) | (1,037,995) | (875,257) | (129,090) | 577,393 |
Net Income (Loss) | (1,579,659) | 1,052,731 | (108,738) | 3,008,327 |
Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | ||||
Trading Commissions | (3,500) | (13,321) | (3,500) | (31,968) |
Realized Gain/(Loss) | (78,517) | 14,745 | (95,347) | 74,118 |
Change in Unrealized Gain/(Loss) | 103,958 | (20,773) | 41,672 | (127,801) |
Net Income (Loss) | 21,941 | (19,349) | (57,175) | (85,651) |
Galaxy Plus Fund - EvE STP Feeder Fund (516) LLC [Member] | ||||
Trading Commissions | (13,005) | (236,151) | (13,005) | (401,934) |
Realized Gain/(Loss) | (585,571) | (7,141,659) | (1,475,050) | (2,471,708) |
Change in Unrealized Gain/(Loss) | 598,718 | 5,727,526 | 175,801 | 273,362 |
Net Income (Loss) | 142 | (1,650,284) | (1,312,254) | (2,600,280) |
Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | ||||
Trading Commissions | (27,104) | (21,036) | (27,104) | (39,734) |
Realized Gain/(Loss) | 924,235 | 878,281 | (526,102) | 2,103,831 |
Change in Unrealized Gain/(Loss) | 924,235 | (312,243) | 269,144 | (131,961) |
Net Income (Loss) | 183,095 | 545,002 | (284,062) | 1,932,136 |
Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | ||||
Trading Commissions | (1,483) | (1,483) | ||
Realized Gain/(Loss) | (505,536) | (493,489) | ||
Change in Unrealized Gain/(Loss) | 506,325 | 629,968 | (49,824) | 574,339 |
Net Income (Loss) | (694) | 629,968 | (544,796) | 574,339 |
Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | ||||
Trading Commissions | (12,396) | (36,503) | (12,396) | (85,197) |
Realized Gain/(Loss) | (884,231) | (513,014) | (912,054) | (1,510,044) |
Change in Unrealized Gain/(Loss) | 428,859 | 282,753 | 97,338 | 299,093 |
Net Income (Loss) | (467,768) | (266,764) | (827,112) | (1,296,148) |
Galaxy Plus Fund - Quantmetrics Feeder Fund (527) LLC [Member] | ||||
Trading Commissions | (38,565) | |||
Realized Gain/(Loss) | 34,869 | |||
Change in Unrealized Gain/(Loss) | (106,211) | (128,735) | ||
Net Income (Loss) | (106,211) | (132,431) | ||
Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | ||||
Trading Commissions | (3,215) | (5,508) | (3,215) | (14,734) |
Realized Gain/(Loss) | 145,551 | 106,886 | 110,349 | 91,152 |
Change in Unrealized Gain/(Loss) | (349,745) | (16,733) | (48,759) | 40,981 |
Net Income (Loss) | (207,409) | 84,645 | 58,375 | 117,399 |
Galaxy Plus Fund - Quest FIT Feeder Fund (535) LLC [Member] | ||||
Trading Commissions | ||||
Realized Gain/(Loss) | ||||
Change in Unrealized Gain/(Loss) | (48,550) | (80,033) | ||
Net Income (Loss) | (48,550) | (80,033) | ||
Galaxy Plus Fund - TT Feeder Fund (531) LLC [Member] | ||||
Trading Commissions | (7,243) | (35,417) | (7,243) | (83,364) |
Realized Gain/(Loss) | (310,899) | 596,596 | (321,982) | 474,500 |
Change in Unrealized Gain/(Loss) | 318,142 | (170,169) | (43,412) | (156,448) |
Net Income (Loss) | 391,010 | (372,637) | 234,688 | |
Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | ||||
Trading Commissions | (31,549) | (96,343) | (31,549) | (205,190) |
Realized Gain/(Loss) | 1,527,788 | 2,623,329 | 1,522,256 | 2,300,033 |
Change in Unrealized Gain/(Loss) | (2,351,775) | (986,444) | (321,416) | (700,123) |
Net Income (Loss) | $ (855,536) | $ 1,540,542 | $ 1,169,291 | $ 1,394,720 |
Investments in Private Invest_2
Investments in Private Investment Companies (Frontier Funds) (Details 1) - Frontier Funds [Member] | 6 Months Ended |
Jun. 30, 2020 | |
Multi-Strategy [Member] | Galaxy Plus Fund - LRR Feeder Fund (522) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Multi-Strategy [Member] | Galaxy Plus Fund - Welton GDP Feeder Fund (538) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Trend Following [Member] | Galaxy Plus Fund - Aspect Feeder Fund (532) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Trend Following [Member] | Galaxy Plus Fund - Fort Contrarian Feeder Fund (510) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Trend Following [Member] | Galaxy Plus Fund - QIM Feeder Fund (526) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Trend Following [Member] | Galaxy Plus Fund - Quest Feeder Fund (517) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Option Trading [Member] | Galaxy Plus Fund - Doherty Feeder Fund (528) LLC [Member] | |
Redemptions Notice Period | 24 hours |
Redemptions Permitted | Daily |
Liquidity Restrictions | None |
Transactions with Affiliates _2
Transactions with Affiliates (The Series of the Frontier Funds) (Details) - The Series of Frontier Funds [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Frontier Diversified Fund [Member] | ||||
Incentive (Rebate) Fees | ||||
Management Fee | 2,668 | |||
Service Fee | 2,943 | 11,366 | 10,650 | 23,395 |
Trading Fee | 59,207 | 126,026 | 163,140 | 256,330 |
Frontier Masters Fund [Member] | ||||
Incentive (Rebate) Fees | ||||
Management Fee | 2,072 | 7,665 | ||
Service Fee | 499 | 2,268 | 1,094 | 9,754 |
Trading Fee | 29,793 | 58,718 | 62,848 | 126,036 |
Frontier Long/Short Commodity Fund [Member] | ||||
Incentive (Rebate) Fees | ||||
Management Fee | ||||
Service Fee | 111 | 152 | 222 | 314 |
Trading Fee | 7,857 | 14,365 | 17,497 | 28,217 |
Frontier Balanced Fund [Member] | ||||
Incentive (Rebate) Fees | ||||
Management Fee | 4,704 | 5,286 | 9,724 | 13,365 |
Service Fee | 85,674 | 154,061 | 210,982 | 324,926 |
Trading Fee | 138,508 | 248,123 | 337,493 | 527,460 |
Frontier Select Fund [Member] | ||||
Incentive (Rebate) Fees | ||||
Management Fee | ||||
Service Fee | 17,932 | 26,562 | ||
Trading Fee | 15,445 | 22,475 | 32,400 | 45,107 |
Frontier Global Fund [Member] | ||||
Incentive (Rebate) Fees | ||||
Management Fee | ||||
Service Fee | 27,786 | 58,227 | ||
Trading Fee | 52,118 | 107,673 | ||
Frontier Heritage Fund [Member] | ||||
Incentive (Rebate) Fees | ||||
Management Fee | 1,100 | 38,679 | ||
Service Fee | 17,944 | 20,713 | 35,957 | 94,902 |
Trading Fee | $ 28,037 | 82,598 | $ 57,942 | 125,313 |
Frontier Global Fund [Member] | ||||
Incentive (Rebate) Fees | ||||
Management Fee | 1,100 | 7,289 | ||
Service Fee | 20,713 | 43,898 | ||
Trading Fee | $ 29,653 | $ 56,746 |
Transactions with Affiliates _3
Transactions with Affiliates (The Series of the Frontier Funds) (Details 1) - The Series of Frontier Funds [Member] - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Frontier Diversified Fund [Member] | ||
Incentive Fees | ||
Management Fees | ||
Interest Fees | ||
Service Fees | 702 | 3,391 |
Trading Fees Payable | 16,024 | 35,877 |
Frontier Masters Fund [Member] | ||
Incentive Fees | ||
Management Fees | ||
Interest Fees | ||
Service Fees | 142 | 204 |
Trading Fees Payable | 8,085 | 11,673 |
Frontier Long/Short Commodity Fund [Member] | ||
Incentive Fees | ||
Management Fees | ||
Interest Fees | ||
Service Fees | ||
Trading Fees Payable | 2,426 | 3,468 |
Frontier Balanced Fund [Member] | ||
Incentive Fees | ||
Management Fees | 8,823 | 8,795 |
Interest Fees | 552 | 105 |
Service Fees | 23,719 | 41,635 |
Trading Fees Payable | 44,493 | 70,179 |
Frontier Select Fund [Member] | ||
Incentive Fees | ||
Management Fees | ||
Interest Fees | 153 | |
Service Fees | 5,173 | 6,906 |
Trading Fees Payable | 3,686 | 6,000 |
Frontier Global Fund [Member] | ||
Incentive Fees | ||
Management Fees | ||
Interest Fees | 166 | 56 |
Service Fees | 7,879 | 11,263 |
Trading Fees Payable | 15,665 | 22,540 |
Frontier Heritage Fund [Member] | ||
Incentive Fees | ||
Management Fees | ||
Interest Fees | 705 | 166 |
Service Fees | 4,932 | 5,362 |
Trading Fees Payable | $ 7,981 | $ 11,170 |
Transactions with Affiliates _4
Transactions with Affiliates (The Series of the Frontier Funds) (Details 2) - The Series of Frontier Funds [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Managing Owner [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 5,857 | $ 8,299 | $ 11,336 | $ 33,908 |
Frontier Diversified Fund [Member] | Class 1 [Member] | ||||
Gross Amount Paid to the Managing Owner | ||||
Ratio to Average Net Assets | 0.00% | 0.00% | 0.00% | 0.00% |
Frontier Diversified Fund [Member] | Class 2 [Member] | ||||
Gross Amount Paid to the Managing Owner | ||||
Ratio to Average Net Assets | 0.00% | 0.00% | 0.00% | 0.00% |
Frontier Diversified Fund [Member] | Class 3 [Member] | ||||
Gross Amount Paid to the Managing Owner | ||||
Ratio to Average Net Assets | 0.00% | 0.00% | 0.00% | 0.00% |
Frontier Masters Fund [Member] | Class 1 [Member] | ||||
Gross Amount Paid to the Managing Owner | ||||
Ratio to Average Net Assets | 0.00% | 0.00% | 0.00% | 0.00% |
Frontier Masters Fund [Member] | Class 2 [Member] | ||||
Gross Amount Paid to the Managing Owner | ||||
Ratio to Average Net Assets | 0.00% | 0.00% | 0.00% | 0.00% |
Frontier Masters Fund [Member] | Class 3 [Member] | ||||
Gross Amount Paid to the Managing Owner | ||||
Ratio to Average Net Assets | 0.00% | 0.00% | 0.00% | 0.00% |
Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 5 | $ 3 | $ 8 | $ 9 |
Ratio to Average Net Assets | 0.01% | 0.00% | 0.02% | 0.00% |
Frontier Long/Short Commodity Fund [Member] | Class 3 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 114 | $ 81 | $ 196 | $ 208 |
Ratio to Average Net Assets | 0.01% | 0.01% | 0.02% | 0.01% |
Frontier Long/Short Commodity Fund [Member] | Class 1a [Member] | ||||
Gross Amount Paid to the Managing Owner | ||||
Ratio to Average Net Assets | 0.00% | 0.00% | 0.00% | 0.00% |
Frontier Long/Short Commodity Fund [Member] | Class 2a [Member] | ||||
Gross Amount Paid to the Managing Owner | ||||
Ratio to Average Net Assets | 0.00% | 0.00% | 0.00% | 0.00% |
Frontier Long/Short Commodity Fund [Member] | Class 3a [Member] | ||||
Gross Amount Paid to the Managing Owner | ||||
Ratio to Average Net Assets | 0.00% | 0.00% | 0.00% | 0.00% |
Frontier Balanced Fund [Member] | Class 1 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 2,221 | $ 1,150 | $ 4,400 | $ 2,881 |
Ratio to Average Net Assets | 0.01% | 0.01% | 0.03% | 0.01% |
Frontier Balanced Fund [Member] | Class 2 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 425 | $ 232 | $ 859 | $ 555 |
Ratio to Average Net Assets | 0.01% | 0.01% | 0.03% | 0.01% |
Frontier Balanced Fund [Member] | Class 2a [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 5 | $ 3 | $ 10 | $ 7 |
Ratio to Average Net Assets | 0.00% | 0.01% | 0.01% | 0.00% |
Frontier Balanced Fund [Member] | Class 3a [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 23 | $ 10 | $ 46 | $ 23 |
Ratio to Average Net Assets | 0.00% | 0.00% | 0.01% | 0.00% |
Frontier Balanced Fund [Member] | Class 1AP [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 31 | $ 19 | $ 62 | $ 45 |
Ratio to Average Net Assets | 0.01% | 0.01% | 0.03% | 0.01% |
Frontier Select Fund [Member] | Class 1 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 779 | $ 1,400 | $ 1,733 | $ 2,259 |
Ratio to Average Net Assets | 0.03% | 0.01% | 0.07% | 0.01% |
Frontier Select Fund [Member] | Class 2 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 26 | $ 41 | $ 58 | $ 71 |
Ratio to Average Net Assets | 0.03% | 0.01% | 0.07% | 0.01% |
Frontier Select Fund [Member] | Class 1AP [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 3 | $ 3 | $ 7 | $ 3 |
Ratio to Average Net Assets | 0.03% | 0.00% | 0.06% | 0.00% |
Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Class 1 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 1,203 | $ 3,631 | $ 1,748 | $ 22,360 |
Ratio to Average Net Assets | 0.03% | 0.27% | 0.04% | 0.27% |
Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Class 2 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 110 | $ 252 | $ 151 | $ 1,286 |
Ratio to Average Net Assets | 0.03% | 0.26% | 0.05% | 0.26% |
Frontier Global Fund (formerly Frontier Winton Fund) [Member] | Class 1AP [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 11 | $ 21 | $ 16 | $ 105 |
Ratio to Average Net Assets | 0.03% | 0.27% | 0.05% | 0.27% |
Frontier Heritage Fund [Member] | Class 1 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 728 | $ 1,196 | $ 1,648 | $ 3,424 |
Ratio to Average Net Assets | 0.03% | 0.07% | 0.07% | 0.07% |
Frontier Heritage Fund [Member] | Class 2 [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 170 | $ 255 | $ 388 | $ 669 |
Ratio to Average Net Assets | 0.03% | 0.07% | 0.07% | 0.07% |
Frontier Heritage Fund [Member] | Class 1AP [Member] | ||||
Gross Amount Paid to the Managing Owner | $ 3 | $ 2 | $ 6 | $ 3 |
Ratio to Average Net Assets | 0.03% | 0.10% | 0.07% | 0.10% |
Transactions with Affiliates _5
Transactions with Affiliates (The Series of the Frontier Funds) (Details Narrative) - The Series of Frontier Funds [Member] - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2017 | |
Transactions with Affiliates (Textual) | ||||||
Description of incentive fee percentage | The incentive fee is 25% for the Frontier Balanced Fund and the Frontier Diversified Fund and 20% for the Frontier Global Fund, Frontier Heritage Fund, Frontier Select Fund, Frontier Long/Short Commodity Fund and Frontier Masters Fund. | |||||
Description of range of incentive fee percentage | (i) swaps owned by Frontier Diversified Fund was 20-25% per annum, (ii) swaps owned by Frontier Balanced Fund was 20-25% per annum, (iii) swaps owned by Frontier Long/Short Commodity Fund was 25% per annum, and (iv) swaps owned by Frontier Heritage Fund was 15% per annum, and the Managing Owner has waived the entire incentive fee due to it from those Series in respect of such Series’ investment in swaps. In each case, the embedded incentive fee was accrued based on the net new trading profits of the swap. | |||||
Description of service fees | 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 and 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 Global 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; provided, however, that investors who redeem all or a portion of their Class 1 and 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 three percent (3.0%) 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. 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 for administrative purposes. 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. | |||||
Description of 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) of average net assets less any fair market value related to swaps 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 Global Fund, Frontier Select Fund, and Frontier Heritage Fund. For the Frontier Diversified Fund, Frontier Long/Short Commodity Fund (Class 1a, Class 2a and Class 3a), Frontier Masters Fund, and Frontier Balanced Fund (Class 1AP, Class 2a and Class 3a), 100% of the interest is retained by the respective Series. | |||||
Prepaid initial service fees | $ 0 | $ 0 | ||||
Frontier Balanced Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Subscriptions in advance for service fee | 335,700 | |||||
Frontier Long/Short Commodity Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Subscriptions in advance for service fee | 353 | |||||
Frontier Diversified Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of interest | 0.25% | |||||
Subscriptions in advance for service fee | $ 22,629 | |||||
Frontier Masters Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of interest | 0.25% | |||||
Subscriptions in advance for service fee | $ 31,725 | |||||
Frontier Global Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Subscriptions in advance for service fee | 152,714 | |||||
Frontier Select Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Subscriptions in advance for service fee | 18,431 | |||||
Frontier Heritage Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Subscriptions in advance for service fee | $ 60,428 | |||||
Managing Owner [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of minimum purchase commitment | 1.00% | |||||
Percentage of contributes funds to trust | 1.00% | |||||
Percentage of interest in specific series of trust | 1.00% | |||||
Managing Owner [Member] | Frontier Balanced Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of FCM fee | 2.25% | |||||
Managing Owner [Member] | Frontier Balanced Fund [Member] | Swap [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 1.00% | 1.00% | ||||
Managing Owner [Member] | Frontier Balanced Fund [Member] | Class 1AP [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of interest | 1.00% | |||||
Percentage of management fee | 0.50% | |||||
Managing Owner [Member] | Frontier Balanced Fund [Member] | Class 2a [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of interest | 1.00% | |||||
Percentage of management fee | 0.50% | |||||
Managing Owner [Member] | Frontier Balanced Fund [Member] | Class 2 [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 0.50% | |||||
Managing Owner [Member] | Frontier Balanced Fund [Member] | Class 1 [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 0.50% | |||||
Managing Owner [Member] | Frontier Balanced Fund [Member] | Class 3a [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 0.50% | |||||
Managing Owner [Member] | Frontier Long/Short Commodity Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of interest | 1.00% | |||||
Percentage of FCM fee | 2.25% | |||||
Managing Owner [Member] | Frontier Long/Short Commodity Fund [Member] | Swap [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 1.50% | 1.50% | ||||
Managing Owner [Member] | Frontier Long/Short Commodity Fund [Member] | Class 2a [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 2.00% | |||||
Managing Owner [Member] | Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 3.50% | |||||
Managing Owner [Member] | Frontier Long/Short Commodity Fund [Member] | Class 3 [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 3.50% | |||||
Managing Owner [Member] | Frontier Long/Short Commodity Fund [Member] | Class 3a [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 2.00% | |||||
Managing Owner [Member] | Frontier Long/Short Commodity Fund [Member] | Class 1a [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 2.00% | |||||
Managing Owner [Member] | Frontier Diversified Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of interest | 1.00% | |||||
Percentage of management fee | 0.75% | |||||
Percentage of FCM fee | 2.25% | |||||
Managing Owner [Member] | Frontier Diversified Fund [Member] | Swap [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 1.00% | 1.00% | ||||
Managing Owner [Member] | Frontier Masters Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of interest | 1.00% | |||||
Percentage of management fee | 2.00% | |||||
Percentage of FCM fee | 2.25% | |||||
Managing Owner [Member] | Frontier Global Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 2.00% | |||||
Percentage of FCM fee | 2.25% | |||||
Managing Owner [Member] | Frontier Select Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 2.50% | |||||
Percentage of FCM fee | 2.25% | |||||
Managing Owner [Member] | Frontier Select Fund [Member] | Swap [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 1.00% | 1.00% | ||||
Managing Owner [Member] | Frontier Heritage Fund [Member] | ||||||
Transactions with Affiliates (Textual) | ||||||
Percentage of management fee | 2.50% | |||||
Percentage of FCM fee | 2.25% |
Transactions with Affiliates (F
Transactions with Affiliates (Frontier Funds) (Details) - Managing Owner [Member] - Frontier Funds [Member] - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of contributes funds to trust | 1.00% | ||||
Percentage of minimum purchase commitment | 1.00% | ||||
Percentage of interest in specific series of trust | 1.00% | ||||
Trust had payable for incentive fees | $ 0 | $ 0 | $ 0 | ||
Trust had payable for management fees | 8,823 | 8,823 | 8,795 | ||
Trust had payable for interest fees | 1,576 | 1,576 | 327 | ||
Trust had payable for service fees | 98,360 | 98,360 | 68,762 | ||
Trust had payable for trading fees | 42,547 | 42,547 | $ 160,907 | ||
Trust paid for incentive fees | 0 | $ 0 | 0 | $ 0 | |
Trust paid for management fees | 4,704 | 0 | 9,724 | 69,666 | |
Trust paid for risk analysis fees | 1,411 | (3,820) | 2,917 | 2,872 | |
Trust paid for service fees | 152,889 | 257,901 | 355,224 | 549,256 | |
Trust paid for trading fees | $ 382,254 | $ 581,958 | 772,150 | 1,165,209 | |
Prepaid initial service fees | 0 | 0 | |||
Trust paid | $ 5,857 | $ 5,857 | |||
Class 1 [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of service fee | 3.00% | 3.00% | |||
Class 1a Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of service fee | 2.00% | 2.00% | |||
Class 2 Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of service fee | 0.25% | 0.25% | |||
Frontier Balanced Fund [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of FCM fee | 2.25% | 2.25% | |||
Percentage of series NAV | 0.12% | 0.12% | |||
Percentage of incentive fee | 25.00% | 25.00% | |||
Frontier Balanced Fund [Member] | Swap [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 1.00% | 1.00% | |||
Frontier Balanced Fund [Member] | Swap [Member] | Maximum [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of incentive fee | 25.00% | 25.00% | |||
Frontier Balanced Fund [Member] | Swap [Member] | Minimum [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of incentive fee | 20.00% | 20.00% | |||
Frontier Balanced Fund [Member] | Class 1AP Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest | 1.00% | ||||
Frontier Balanced Fund [Member] | Class 2a Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest | 1.00% | ||||
Frontier Balanced Fund [Member] | Class 1 and Class 2 [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 0.50% | 0.50% | |||
Percentage of aggregate interest income | 2.00% | 2.00% | |||
Frontier Balanced Fund [Member] | Class 1AP, Class 2a and Class 3a [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 1.00% | 1.00% | |||
Percentage of interest is retained by respective series | 100.00% | 100.00% | |||
Frontier Long/Short Commodity Fund [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of FCM fee | 2.25% | 2.25% | |||
Percentage of series NAV | 0.12% | 0.12% | |||
Percentage of incentive fee | 20.00% | 20.00% | |||
Frontier Long/Short Commodity Fund [Member] | Swap [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 1.50% | 1.50% | |||
Percentage of incentive fee | 25.00% | 25.00% | |||
Frontier Long/Short Commodity Fund [Member] | Class 1AP Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest | 1.00% | ||||
Frontier Long/Short Commodity Fund [Member] | Class 2a Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest | 1.00% | ||||
Frontier Long/Short Commodity Fund [Member] | Class 1a, Class 2a and Class 3a [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 2.00% | 2.00% | |||
Percentage of interest is retained by respective series | 100.00% | 100.00% | |||
Frontier Long/Short Commodity Fund [Member] | Class 2 and Class 3 [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 3.50% | 3.50% | |||
Percentage of aggregate interest income | 2.00% | 2.00% | |||
Frontier Diversified Fund [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 0.75% | 0.75% | |||
Percentage of FCM fee | 2.25% | 2.25% | |||
Percentage of series NAV | 0.12% | 0.12% | |||
Percentage of incentive fee | 25.00% | 25.00% | |||
Frontier Diversified Fund [Member] | Swap [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 1.00% | 1.00% | |||
Frontier Diversified Fund [Member] | Swap [Member] | Maximum [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of incentive fee | 25.00% | 25.00% | |||
Frontier Diversified Fund [Member] | Swap [Member] | Minimum [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of incentive fee | 20.00% | 20.00% | |||
Frontier Diversified Fund [Member] | Class 1AP Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest | 1.00% | ||||
Frontier Diversified Fund [Member] | Class 2a Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest | 1.00% | ||||
Frontier Diversified Fund [Member] | Class 1a, Class 2a and Class 3a [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest is retained by respective series | 100.00% | ||||
Frontier Masters Fund [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 2.00% | 2.00% | |||
Percentage of FCM fee | 2.25% | 2.25% | |||
Percentage of series NAV | 0.12% | 0.12% | |||
Percentage of incentive fee | 20.00% | 20.00% | |||
Frontier Masters Fund [Member] | Class 1AP Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest | 1.00% | ||||
Frontier Masters Fund [Member] | Class 2a Units [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest | 1.00% | ||||
Frontier Masters Fund [Member] | Class 1AP, Class 2a and Class 3a [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of interest is retained by respective series | 100.00% | ||||
Frontier Global Fund (formerly Frontier Winton Fund) [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 2.00% | 2.00% | |||
Percentage of FCM fee | 2.25% | 2.25% | |||
Percentage of series NAV | 0.12% | 0.12% | |||
Percentage of incentive fee | 20.00% | 20.00% | |||
Percentage of aggregate interest income | 2.00% | 2.00% | |||
Frontier Heritage Fund [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 2.50% | 2.50% | |||
Percentage of FCM fee | 2.25% | 2.25% | |||
Percentage of series NAV | 0.12% | 0.12% | |||
Percentage of incentive fee | 20.00% | 20.00% | |||
Percentage of aggregate interest income | 2.00% | 2.00% | |||
Frontier Heritage Fund [Member] | Swap [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 1.00% | 1.00% | |||
Percentage of incentive fee | 15.00% | 15.00% | |||
Frontier Select Fund [Member] | |||||
Transactions with Affiliates (Frontier Funds) (Textual) | |||||
Percentage of management fee | 2.50% | 2.50% | |||
Percentage of FCM fee | 2.25% | 2.25% | |||
Percentage of series NAV | 0.12% | 0.12% | |||
Percentage of incentive fee | 20.00% | 20.00% | |||
Percentage of aggregate interest income | 2.00% | 2.00% |
Financial Highlights (The Serie
Financial Highlights (The Series of the Frontier Funds) (Details) - Series of Frontier Funds [Member] - $ / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Frontier Diversified Fund [Member] | Class 1 [Member] | |||||
Net asset value | [1] | $ 79.15 | $ 100.84 | $ 101.1 | $ 102.25 |
Net operating results: | |||||
Interest income | [1] | 0.01 | 0.01 | 0.01 | 0.04 |
Expenses | [1] | (0.85) | (1.69) | (3.31) | (3.32) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (4.22) | 3.29 | (23.71) | 3.47 |
Net income/(loss) | [1] | (5.06) | 1.6 | (27.01) | 0.19 |
Net asset value | [1] | $ 74.09 | $ 102.44 | $ 74.09 | $ 102.44 |
Ratios to average net assets | |||||
Net investment income/(loss) | (3.38%) | (6.74%) | (7.10%) | 13.31% | |
Expenses before incentive fees | [2],[3] | 3.41% | 6.77% | 7.12% | 13.49% |
Expenses after incentive fees | [2],[3] | 3.41% | 6.77% | 7.12% | 13.49% |
Total return before incentive fee | [4] | (6.39%) | 1.59% | (26.71%) | 0.19% |
Total return after incentive fees | [4] | (6.39%) | 1.59% | (26.71%) | 0.19% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Diversified Fund [Member] | Class 2 [Member] | |||||
Net asset value | [1] | $ 95.6 | $ 119.69 | $ 121.58 | $ 120.84 |
Net operating results: | |||||
Interest income | [1] | 0.01 | 0.01 | 0.01 | 0.05 |
Expenses | [1] | (0.63) | (1.12) | (1.98) | (2.16) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (5.09) | 3.53 | (29.73) | 3.38 |
Net income/(loss) | [1] | (5.72) | 2.42 | (31.7) | 1.27 |
Net asset value | [1] | $ 89.88 | $ 122.11 | $ 89.88 | $ 122.11 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.07%) | (3.73%) | (3.56%) | (7.23%) | |
Expenses before incentive fees | [2],[3] | 2.10% | 3.76% | 3.58% | 7.40% |
Expenses after incentive fees | [2],[3] | 2.10% | 3.76% | 3.58% | 7.40% |
Total return before incentive fee | [4] | (5.98%) | 2.02% | (26.07%) | 1.05% |
Total return after incentive fees | [4] | (5.98%) | 2.02% | (26.07%) | 1.05% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Diversified Fund [Member] | Class 3 [Member] | |||||
Net asset value | [1] | $ 89.39 | $ 111.62 | $ 113.61 | $ 112.62 |
Net operating results: | |||||
Interest income | [1] | 0.01 | 0.01 | 0.01 | 0.05 |
Expenses | [1] | (0.58) | (1.05) | (1.76) | (2.02) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (4.72) | 3.38 | (27.76) | 3.31 |
Net income/(loss) | [1] | (5.3) | 2.34 | (29.52) | 1.34 |
Net asset value | [1] | $ 84.09 | $ 113.96 | $ 84.09 | $ 113.96 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.07%) | (3.73%) | (3.56%) | (7.23%) | |
Expenses before incentive fees | [2],[3] | 2.10% | 3.76% | 3.58% | 7.40% |
Expenses after incentive fees | [2],[3] | 2.10% | 3.76% | 3.58% | 7.40% |
Total return before incentive fee | [4] | (5.93%) | 2.10% | (25.98%) | 1.19% |
Total return after incentive fees | [4] | (5.93%) | 2.10% | (25.98%) | 1.19% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Masters Fund [Member] | Class 1 [Member] | |||||
Net asset value | [1] | $ 71.34 | $ 88.19 | $ 72.28 | $ 91.1 |
Net operating results: | |||||
Interest income | [1] | 0.02 | 0.03 | 0.05 | 0.04 |
Expenses | [1] | (3.81) | (2.1) | (8.37) | (3.59) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (5.63) | 1.2 | (2.04) | (0.22) |
Net income/(loss) | [1] | (9.42) | (0.86) | (10.36) | (3.77) |
Net asset value | [1] | $ 61.92 | $ 87.33 | $ 61.92 | $ 87.33 |
Ratios to average net assets | |||||
Net investment income/(loss) | (21.01%) | (9.40%) | (23.98%) | (16.90%) | |
Expenses before incentive fees | [2],[3] | 21.10% | 9.55% | 24.13% | 17.10% |
Expenses after incentive fees | [2],[3] | 21.10% | 9.55% | 24.13% | 17.10% |
Total return before incentive fee | [4] | (13.21%) | (0.98%) | (14.34%) | (4.14%) |
Total return after incentive fees | [4] | (13.21%) | (0.98%) | (14.34%) | (4.14%) |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Masters Fund [Member] | Class 2 [Member] | |||||
Net asset value | [1] | $ 86.18 | $ 104.69 | $ 87.18 | $ 107.68 |
Net operating results: | |||||
Interest income | [1] | 0.02 | 0.04 | 0.06 | 0.05 |
Expenses | [1] | (1.19) | (1.68) | (2.64) | (3.12) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (9.89) | 1.05 | (9.48) | (0.51) |
Net income/(loss) | [1] | (11.05) | (0.59) | (12.05) | (3.58) |
Net asset value | [1] | $ 75.13 | $ 104.1 | $ 75.13 | $ 104.1 |
Ratios to average net assets | |||||
Net investment income/(loss) | (5.36%) | (6.32%) | (6.12%) | (12.15%) | |
Expenses before incentive fees | [2],[3] | 5.45% | 6.48% | 6.27% | 12.35% |
Expenses after incentive fees | [2],[3] | 5.45% | 6.48% | 6.27% | 12.35% |
Total return before incentive fee | [4] | (12.83%) | (0.56%) | (13.83%) | (3.32%) |
Total return after incentive fees | [4] | (12.83%) | (0.56%) | (13.83%) | (3.32%) |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Masters Fund [Member] | Class 3 [Member] | |||||
Net asset value | [1] | $ 80.89 | $ 98.04 | $ 81.78 | $ 100.77 |
Net operating results: | |||||
Interest income | [1] | 0.02 | 0.04 | 0.06 | 0.05 |
Expenses | [1] | (1.12) | (1.57) | (2.47) | (2.92) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (9.23) | 1.02 | (8.81) | (0.37) |
Net income/(loss) | [1] | (10.33) | (0.51) | (11.22) | (3.24) |
Net asset value | [1] | $ 70.56 | $ 97.53 | $ 70.56 | $ 97.53 |
Ratios to average net assets | |||||
Net investment income/(loss) | (5.36%) | (6.32%) | (6.12%) | (12.15%) | |
Expenses before incentive fees | [2],[3] | 5.45% | 6.48% | 6.27% | 12.35% |
Expenses after incentive fees | [2],[3] | 5.45% | 6.48% | 6.27% | 12.35% |
Total return before incentive fee | [4] | (12.77%) | (0.52%) | (13.72%) | (3.22%) |
Total return after incentive fees | [4] | (12.77%) | (0.52%) | (13.72%) | (3.22%) |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Long/Short Commodity Fund [Member] | Class 2 [Member] | |||||
Net asset value | [1] | $ 88.66 | $ 93.67 | $ 81.6 | $ 98.82 |
Net operating results: | |||||
Interest income | [1] | 0.03 | 0.02 | 0.07 | 0.05 |
Expenses | [1] | (0.48) | (0.66) | (1.09) | (1.25) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (4.94) | 5.49 | 2.68 | 0.9 |
Net income/(loss) | [1] | (5.39) | 4.85 | 1.67 | (0.3) |
Net asset value | [1] | $ 83.27 | $ 98.52 | $ 83.27 | $ 98.52 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.17%) | (2.66%) | (2.43%) | (5.12%) | |
Expenses before incentive fees | [2],[3] | 2.31% | 2.74% | 2.59% | 5.34% |
Expenses after incentive fees | [2],[3] | 2.31% | 2.74% | 2.59% | 5.34% |
Total return before incentive fee | [4] | (6.08%) | 5.18% | 2.04% | (0.30%) |
Total return after incentive fees | [4] | (6.08%) | 5.18% | 2.04% | (0.30%) |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Long/Short Commodity Fund [Member] | Class 3 [Member] | |||||
Net asset value | [1] | $ 93.01 | $ 98.25 | $ 85.64 | $ 103.66 |
Net operating results: | |||||
Interest income | [1] | 0.03 | 0.02 | 0.07 | 0.05 |
Expenses | [1] | (0.51) | (0.69) | (1.14) | (1.31) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (5.18) | 5.76 | 2.78 | 0.94 |
Net income/(loss) | [1] | (5.66) | 5.09 | 1.71 | (0.32) |
Net asset value | [1] | $ 87.35 | $ 103.34 | $ 87.35 | $ 103.34 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.17%) | (2.66%) | (2.43%) | (5.12%) | |
Expenses before incentive fees | [2],[3] | 2.31% | 2.74% | 2.59% | 5.34% |
Expenses after incentive fees | [2],[3] | 2.31% | 2.74% | 2.59% | 5.34% |
Total return before incentive fee | [4] | (6.08%) | 5.18% | 2.00% | (0.31%) |
Total return after incentive fees | [4] | (6.08%) | 5.18% | 2.00% | (0.31%) |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Long/Short Commodity Fund [Member] | Class 1a [Member] | |||||
Net asset value | [1] | $ 47.69 | $ 50.14 | $ 44.2 | $ 56.8 |
Net operating results: | |||||
Interest income | [1] | 0.02 | 0.01 | 0.04 | 0.03 |
Expenses | [1] | (0.69) | (0.82) | (1.44) | (1.59) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (2.45) | 3.53 | 1.77 | (2.38) |
Net income/(loss) | [1] | (3.12) | 2.72 | 0.37 | (3.94) |
Net asset value | [1] | $ 44.58 | $ 52.86 | $ 44.58 | $ 52.86 |
Ratios to average net assets | |||||
Net investment income/(loss) | (5.96%) | (6.30%) | (6.23%) | (12.58%) | |
Expenses before incentive fees | [2],[3] | 6.10% | 6.38% | 6.39% | 12.80% |
Expenses after incentive fees | [2],[3] | 6.10% | 6.38% | 6.39% | 12.80% |
Total return before incentive fee | [4] | (6.55%) | 5.42% | 0.83% | (6.94%) |
Total return after incentive fees | [4] | (6.55%) | 5.42% | 0.83% | (6.94%) |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Long/Short Commodity Fund [Member] | Class 2a [Member] | |||||
Net asset value | [1] | $ 56.98 | $ 58.96 | $ 52.55 | $ 66.52 |
Net operating results: | |||||
Interest income | [1] | 0.02 | 0.01 | 0.04 | 0.03 |
Expenses | [1] | (0.31) | (0.41) | (0.7) | (0.78) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (3.21) | 3.68 | 1.6 | (3.53) |
Net income/(loss) | [1] | (3.5) | 3.28 | 0.94 | (4.28) |
Net asset value | [1] | $ 53.49 | $ 62.24 | $ 53.49 | $ 62.24 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.17%) | (2.66%) | (2.43%) | (5.12%) | |
Expenses before incentive fees | [2],[3] | 2.31% | 2.74% | 2.59% | 5.34% |
Expenses after incentive fees | [2],[3] | 2.31% | 2.74% | 2.59% | 5.34% |
Total return before incentive fee | [4] | (6.14%) | 5.56% | 1.79% | (6.43%) |
Total return after incentive fees | [4] | (6.14%) | 5.56% | 1.79% | (6.43%) |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Long/Short Commodity Fund [Member] | Class 3a [Member] | |||||
Net asset value | [1] | $ 60.02 | $ 61.96 | $ 55.31 | $ 69.83 |
Net operating results: | |||||
Interest income | [1] | 0.02 | 0.01 | 0.05 | 0.03 |
Expenses | [1] | (0.33) | (0.44) | (0.74) | (0.83) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (3.33) | 3.92 | 1.76 | (3.58) |
Net income/(loss) | [1] | (3.64) | 3.49 | 1.07 | (4.38) |
Net asset value | [1] | $ 56.38 | $ 65.45 | $ 56.38 | $ 65.45 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.17%) | (2.66%) | (2.43%) | (5.12%) | |
Expenses before incentive fees | [2],[3] | 2.31% | 2.74% | 2.59% | 5.34% |
Expenses after incentive fees | [2],[3] | 2.31% | 2.74% | 2.59% | 5.34% |
Total return before incentive fee | [4] | (6.06%) | 5.63% | 1.94% | (6.27%) |
Total return after incentive fees | [4] | (6.06%) | 5.63% | 1.94% | (6.27%) |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Balanced Fund [Member] | Class 1 [Member] | |||||
Net asset value | [1] | $ 86.02 | $ 114.89 | $ 117.23 | $ 117.63 |
Net operating results: | |||||
Interest income | [1] | 0 | 0.06 | 0.03 | 0.1 |
Expenses | [1] | (1.35) | (2) | (3.37) | (3.96) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (6.09) | 3.41 | (35.3) | 2.59 |
Net income/(loss) | [1] | (7.43) | 1.47 | (38.64) | (1.27) |
Net asset value | [1] | $ 78.59 | $ 116.36 | $ 78.59 | $ 116.36 |
Ratios to average net assets | |||||
Net investment income/(loss) | (4.77%) | (6.76%) | (6.82%) | (13.67%) | |
Expenses before incentive fees | [2],[3] | 4.77% | 6.97% | 6.89% | 14.04% |
Expenses after incentive fees | [2],[3] | 4.77% | 6.97% | 6.89% | 14.04% |
Total return before incentive fee | [4] | (8.64%) | 1.28% | (32.96%) | (1.08%) |
Total return after incentive fees | [4] | (8.64%) | 1.28% | (32.96%) | (1.08%) |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Balanced Fund [Member] | Class 2 [Member] | |||||
Net asset value | [1] | $ 137.37 | $ 178.04 | $ 185.82 | $ 180.94 |
Net operating results: | |||||
Interest income | [1] | 0 | 0.09 | 0.05 | 0.16 |
Expenses | [1] | (17.96) | (1.76) | (3.03) | (3.5) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | 7.02 | 5.28 | (56.41) | 4.06 |
Net income/(loss) | [1] | (10.93) | 3.62 | (59.38) | 0.72 |
Net asset value | [1] | $ 126.44 | $ 181.66 | $ 126.44 | $ 181.66 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.72%) | (3.72%) | (3.83%) | (7.63%) | |
Expenses before incentive fees | [2],[3] | 2.72% | 3.93% | 3.90% | 8.00% |
Expenses after incentive fees | [2],[3] | 2.72% | 3.93% | 3.90% | 8.00% |
Total return before incentive fee | [4] | (7.96%) | 2.03% | (31.96%) | 0.40% |
Total return after incentive fees | [4] | (7.96%) | 2.03% | (31.96%) | 0.40% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Balanced Fund [Member] | Class 2a [Member] | |||||
Net asset value | [1] | $ 119.07 | $ 154.27 | $ 161.04 | $ 156.81 |
Net operating results: | |||||
Interest income | [1] | 0 | 0.08 | 0.05 | 0.14 |
Expenses | [1] | (1.06) | (1.52) | (2.64) | (3.04) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (8.4) | 4.66 | (48.84) | 3.58 |
Net income/(loss) | [1] | (9.46) | 3.22 | (51.43) | 0.68 |
Net asset value | [1] | $ 109.61 | $ 157.49 | $ 109.61 | $ 157.49 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.72%) | (3.72%) | (3.83%) | (7.63%) | |
Expenses before incentive fees | [2],[3] | 2.72% | 3.93% | 3.90% | 8.00% |
Expenses after incentive fees | [2],[3] | 2.72% | 3.93% | 3.90% | 8.00% |
Total return before incentive fee | [4] | (7.94%) | 2.09% | (31.94%) | 0.43% |
Total return after incentive fees | [4] | (7.94%) | 2.09% | (31.94%) | 0.43% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Balanced Fund [Member] | Class 3a [Member] | |||||
Net asset value | [1] | $ 118.66 | $ 153.78 | $ 160.5 | $ 156.26 |
Net operating results: | |||||
Interest income | [1] | 0 | 0.08 | 0.05 | 0.14 |
Expenses | [1] | (1.05) | (1.52) | (2.62) | (3.03) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (8.37) | 4.57 | (48.69) | 3.54 |
Net income/(loss) | [1] | (9.42) | 3.13 | (51.26) | 0.65 |
Net asset value | [1] | $ 109.24 | $ 156.91 | $ 109.24 | $ 156.91 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.72%) | (3.72%) | (3.83%) | (7.63%) | |
Expenses before incentive fees | [2],[3] | 2.72% | 3.93% | 3.90% | 8.00% |
Expenses after incentive fees | [2],[3] | 2.72% | 3.93% | 3.90% | 8.00% |
Total return before incentive fee | [4] | (7.94%) | 2.04% | (31.94%) | 0.42% |
Total return after incentive fees | [4] | (7.94%) | 2.04% | (31.94%) | 0.42% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Balanced Fund [Member] | Class 1AP [Member] | |||||
Net asset value | [1] | $ 101.87 | $ 132.01 | $ 137.81 | $ 134.16 |
Net operating results: | |||||
Interest income | [1] | 0 | 0.07 | 0.04 | 0.12 |
Expenses | [1] | (0.9) | (1.3) | (2.25) | (2.6) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (7.21) | 3.91 | (41.84) | 3.01 |
Net income/(loss) | [1] | (8.11) | 2.68 | (44.05) | 0.53 |
Net asset value | [1] | $ 93.76 | $ 134.69 | $ 93.76 | $ 134.69 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.72%) | (3.72%) | (3.83%) | (7.63%) | |
Expenses before incentive fees | [2],[3] | 2.72% | 3.93% | 3.90% | 8.00% |
Expenses after incentive fees | [2],[3] | 2.72% | 3.93% | 3.90% | 8.00% |
Total return before incentive fee | [4] | (7.96%) | 2.03% | (31.96%) | 0.40% |
Total return after incentive fees | [4] | (7.96%) | 2.03% | (31.96%) | 0.40% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Select Fund [Member] | Class 1 [Member] | |||||
Net asset value | [1] | $ 67.48 | $ 70.76 | $ 66.56 | $ 71.41 |
Net operating results: | |||||
Interest income | [1] | 0 | 0 | 0 | 0 |
Expenses | [1] | (0.83) | (1) | (1.8) | (1.92) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (5.6) | 6.27 | (3.71) | 6.54 |
Net income/(loss) | [1] | (6.44) | 5.27 | (5.52) | 4.62 |
Net asset value | [1] | $ 61.04 | $ 76.03 | $ 61.04 | $ 76.03 |
Ratios to average net assets | |||||
Net investment income/(loss) | (4.89%) | (5.52%) | (5.46%) | (11.10%) | |
Expenses before incentive fees | [2],[3] | 4.89% | 5.52% | 5.46% | 11.10% |
Expenses after incentive fees | [2],[3] | 4.89% | 5.52% | 5.46% | 11.10% |
Total return before incentive fee | [4] | (9.54%) | 7.45% | (8.29%) | 6.47% |
Total return after incentive fees | [4] | (9.54%) | 7.45% | (8.29%) | 6.47% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Select Fund [Member] | Class 2 [Member] | |||||
Net asset value | [1] | $ 106.15 | $ 107.99 | $ 103.94 | $ 108.18 |
Net operating results: | |||||
Interest income | [1] | 0 | 0 | 0 | 0 |
Expenses | [1] | (0.59) | (0.69) | (1.28) | (1.33) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (8.81) | 9.66 | (5.92) | 10.11 |
Net income/(loss) | [1] | (9.4) | 8.97 | (7.19) | 8.78 |
Net asset value | [1] | $ 96.75 | $ 116.96 | $ 96.75 | $ 116.96 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.22%) | (2.49%) | (2.46%) | (5.06%) | |
Expenses before incentive fees | [2],[3] | 2.22% | 2.49% | 2.46% | 116.96% |
Expenses after incentive fees | [2],[3] | 2.22% | 2.49% | 2.46% | 116.96% |
Total return before incentive fee | [4] | (8.86%) | 8.31% | (6.92%) | 8.12% |
Total return after incentive fees | [4] | (8.86%) | 8.31% | (6.92%) | 8.12% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Select Fund [Member] | Class 1AP [Member] | |||||
Net asset value | [1] | $ 79.99 | $ 82.3 | $ 78.51 | $ 82.48 |
Net operating results: | |||||
Interest income | [1] | 0 | 0 | 0 | 0 |
Expenses | [1] | (0.45) | (0.52) | (0.96) | (1.04) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (6.64) | 6.56 | (4.65) | 6.9 |
Net income/(loss) | [1] | (7.09) | 6.04 | (5.61) | 5.86 |
Net asset value | [1] | $ 72.9 | $ 88.34 | $ 72.9 | $ 88.34 |
Ratios to average net assets | |||||
Net investment income/(loss) | (2.22%) | (2.49%) | (2.46%) | (5.06%) | |
Expenses before incentive fees | [2],[3] | 2.22% | 2.49% | 2.46% | 5.06% |
Expenses after incentive fees | [2],[3] | 2.22% | 2.49% | 2.46% | 5.06% |
Total return before incentive fee | [4] | (8.86%) | 7.34% | (7.15%) | 7.10% |
Total return after incentive fees | [4] | (8.86%) | 7.34% | (7.15%) | 7.10% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Global Fund [Member] | Class 1 [Member] | |||||
Net asset value | [1] | $ 145.97 | $ 136.33 | $ 131.52 | $ 131.57 |
Net operating results: | |||||
Interest income | [1] | 0 | 0 | 0 | 0 |
Expenses | [1] | (2.53) | (3.15) | (5.46) | (5.21) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (21.76) | 10.46 | (4.38) | 17.28 |
Net income/(loss) | [1] | (24.29) | 7.31 | (9.84) | 12.07 |
Net asset value | [1] | $ 121.68 | $ 143.64 | $ 121.68 | $ 143.64 |
Ratios to average net assets | |||||
Net investment income/(loss) | (4.77%) | (9.11%) | (8.08%) | (15.82%) | |
Expenses before incentive fees | [2],[3] | 7.44% | 9.11% | 8.08% | 15.82% |
Expenses after incentive fees | [2],[3] | 4.77% | 9.11% | 8.08% | 15.82% |
Total return before incentive fee | [4] | (16.64%) | 5.36% | (7.48%) | 9.17% |
Total return after incentive fees | [4] | (16.64%) | 5.36% | (7.48%) | 9.17% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Global Fund [Member] | Class 2 [Member] | |||||
Net asset value | [1] | $ 215.64 | $ 195.48 | $ 192.82 | $ 187.17 |
Net operating results: | |||||
Interest income | [1] | 0 | 0 | 0 | 0 |
Expenses | [1] | (2.36) | (3.02) | (5.1) | (4.65) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (32.19) | 15.02 | (6.63) | 24.96 |
Net income/(loss) | [1] | (34.55) | 12 | (11.73) | 20.31 |
Net asset value | [1] | $ 181.09 | $ 207.48 | $ 181.09 | $ 207.48 |
Ratios to average net assets | |||||
Net investment income/(loss) | (4.70%) | (6.07%) | (5.08%) | (9.78%) | |
Expenses before incentive fees | [2],[3] | 4.70% | 6.07% | 5.08% | 9.78% |
Expenses after incentive fees | [2],[3] | 4.70% | 6.07% | 5.08% | 9.78% |
Total return before incentive fee | [4] | (16.02%) | 6.14% | (6.08%) | 10.85% |
Total return after incentive fees | [4] | (16.02%) | 6.14% | (6.08%) | 10.85% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Global Fund [Member] | Class 1AP [Member] | |||||
Net asset value | [1] | $ 173.08 | $ 156.5 | $ 154.43 | $ 149.92 |
Net operating results: | |||||
Interest income | [1] | 0 | 0 | 0 | 0 |
Expenses | [1] | (1.89) | (2.42) | (4.07) | (3.73) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (25.83) | 12.05 | (5) | 19.94 |
Net income/(loss) | [1] | (27.73) | 9.63 | (9.08) | 16.21 |
Net asset value | [1] | $ 145.35 | $ 166.13 | $ 145.35 | $ 166.13 |
Ratios to average net assets | |||||
Net investment income/(loss) | (4.70%) | (6.07%) | (5.08%) | (9.78%) | |
Expenses before incentive fees | [2],[3] | 4.70% | 6.07% | 5.08% | 9.78% |
Expenses after incentive fees | [2],[3] | 4.70% | 6.07% | 5.08% | 9.78% |
Total return before incentive fee | [4] | (16.02%) | 6.15% | (5.88%) | 10.81% |
Total return after incentive fees | [4] | (16.02%) | 6.15% | (5.88%) | 10.81% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Heritage Fund [Member] | Class 1 [Member] | |||||
Net asset value | [1] | $ 114.21 | $ 99.68 | $ 97.54 | $ 99.83 |
Net operating results: | |||||
Interest income | [1] | 0 | 0 | 0 | 0 |
Expenses | [1] | (1.76) | (1.71) | (3.6) | (3.24) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (15.94) | 11.63 | 2.57 | 13.01 |
Net income/(loss) | [1] | (17.7) | 9.92 | (1.03) | 9.77 |
Net asset value | [1] | $ 96.51 | $ 109.6 | $ 96.51 | $ 109.6 |
Ratios to average net assets | |||||
Net investment income/(loss) | (6.79%) | (6.76%) | (6.90%) | (13.39%) | |
Expenses before incentive fees | [2],[3] | 6.79% | 6.76% | 6.90% | 13.39% |
Expenses after incentive fees | [2],[3] | 6.79% | 6.76% | 6.90% | 13.39% |
Total return before incentive fee | [4] | (15.50%) | 9.95% | (1.05%) | 9.79% |
Total return after incentive fees | [4] | (15.50%) | 9.95% | (1.05%) | 9.79% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Heritage Fund [Member] | Class 2 [Member] | |||||
Net asset value | [1] | $ 181.17 | $ 153.46 | $ 153.59 | $ 152.53 |
Net operating results: | |||||
Interest income | [1] | 0 | 0 | 0 | 0 |
Expenses | [1] | (1.55) | (1.46) | (3.23) | (2.75) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (25.38) | 17.96 | 3.87 | 20.18 |
Net income/(loss) | [1] | (26.93) | 16.5 | 0.65 | 17.43 |
Net asset value | [1] | $ 154.24 | $ 169.96 | $ 154.24 | $ 169.96 |
Ratios to average net assets | |||||
Net investment income/(loss) | (3.79%) | (3.71%) | (3.90%) | (7.34%) | |
Expenses before incentive fees | [2],[3] | 3.79% | 3.71% | 3.90% | 7.34% |
Expenses after incentive fees | [2],[3] | 3.79% | 3.71% | 3.90% | 7.34% |
Total return before incentive fee | [4] | (14.87%) | 10.75% | 0.42% | 11.43% |
Total return after incentive fees | [4] | (14.87%) | 10.75% | 0.42% | 11.43% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
Frontier Heritage Fund [Member] | Class 1AP [Member] | |||||
Net asset value | [1] | $ 135.37 | $ 112.44 | $ 114.15 | $ 111.78 |
Net operating results: | |||||
Interest income | [1] | 0 | 0 | 0 | 0 |
Expenses | [1] | (1.16) | (1.12) | (2.41) | (2.16) |
Net gain/(loss) on investments, net of non-controlling interests | [1] | (18.96) | 15.02 | 3.51 | 16.72 |
Net income/(loss) | [1] | (20.12) | 13.9 | 1.1 | 14.56 |
Net asset value | [1] | $ 115.25 | $ 126.34 | $ 115.25 | $ 126.34 |
Ratios to average net assets | |||||
Net investment income/(loss) | (3.79%) | (3.71%) | (3.90%) | (7.34%) | |
Expenses before incentive fees | [2],[3] | 3.79% | 3.71% | 3.90% | 7.34% |
Expenses after incentive fees | [2],[3] | 3.79% | 3.71% | 3.90% | 7.34% |
Total return before incentive fee | [4] | (14.87%) | 12.36% | 0.96% | 13.03% |
Total return after incentive fees | [4] | (14.87%) | 12.36% | 0.96% | 13.03% |
Incentive fee per share | |||||
Incentive Fee to ANA | 0.00% | 0.00% | 0.00% | 0.00% | |
[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] | 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. | ||||
[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] | 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. |
Financial Highlights ( Frontier
Financial Highlights ( Frontier Funds) (Details 1) - Frontier Funds [Member] | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Net investment income/(loss) | [1] | (4.34%) | (5.41%) | (5.71%) | (5.57%) |
Expenses before incentive fees | [2] | (4.36%) | 5.52% | 5.76% | (5.77%) |
Expenses after incentive fees | [2] | (4.36%) | 5.52% | 5.76% | 5.77% |
Total return before incentive fees | [3] | (7.79%) | 2.74% | (23.21%) | 1.04% |
Total return after incentive fees | [3] | (7.79%) | 2.74% | (23.21%) | 1.04% |
[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. |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities (The Series of the Frontier Funds) (Details) - The Series of Frontier Funds [Member] - Frontier Balanced Fund [Member] - Number | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Derivative Numbers of Instruments Bought | 568 | 480 |
Derivative Numbers of Instruments Sold | 490 | 581 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities (The Series of the Frontier Funds) (Details 1) - The Series of Frontier Funds [Member] - Frontier Balanced Fund [Member] - Realized Trading Revenue from Futures, Forwards and Options [Member] - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Realized trading income/(loss) | [1] | $ (221,676) | $ 253,373 | $ 420,559 | $ 257,899 |
Agriculturals [Member] | |||||
Realized trading income/(loss) | (27,242) | 64,042 | 25,052 | 18,952 | |
Currencies [Member] | |||||
Realized trading income/(loss) | 3,074 | (123,270) | (89,048) | (241,334) | |
Energies [Member] | |||||
Realized trading income/(loss) | (9,668) | (7,996) | 14,070 | (37,678) | |
Interest rates [Member] | |||||
Realized trading income/(loss) | (113,962) | 312,541 | 128,434 | 548,174 | |
Metals [Member] | |||||
Realized trading income/(loss) | 10,260 | 13,674 | 316,370 | 8,700 | |
Stock indices [Member] | |||||
Realized trading income/(loss) | $ (77,990) | $ (5,618) | $ 25,681 | $ (38,915) | |
[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 (The Series of the Frontier Funds) (Details 2) - The Series of Frontier Funds [Member] - Frontier Balanced Fund [Member] - Unrealized Trading Revenue from Futures, Forwards and Options [Member] - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Change in unrealized trading income/(loss) | [1] | $ (51,316) | $ (94,280) | $ (77,034) | $ (196,515) |
Agriculturals [Member] | |||||
Change in unrealized trading income/(loss) | 32,288 | (17,348) | 14,916 | (41,639) | |
Currencies [Member] | |||||
Change in unrealized trading income/(loss) | (49,704) | 16,367 | (20,473) | (57,496) | |
Energies [Member] | |||||
Change in unrealized trading income/(loss) | (1,630) | (7,260) | (4,275) | 1,510 | |
Interest rates [Member] | |||||
Change in unrealized trading income/(loss) | 44,437 | (99,664) | 36,412 | (107,355) | |
Metals [Member] | |||||
Change in unrealized trading income/(loss) | (86,875) | 4,519 | (113,782) | 6,931 | |
Stock indices [Member] | |||||
Change in unrealized trading income/(loss) | $ 10,168 | $ 9,106 | $ 10,168 | $ 1,534 | |
[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 (The Series of the Frontier Funds) (Details 3) - The Series of Frontier Funds [Member] - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Frontier Balanced Fund [Member] | Open Trade Equity/(Deficit) [Member] | ||
Gross Amounts of recognized Derivative Assets | $ 660,810 | $ 154,778 |
Gross Amounts offset in the Statements of Financial | (668,927) | (38,594) |
Net Amounts Presented in the Statements of Financial Condition | (8,117) | 116,184 |
Frontier Balanced Fund [Member] | Swap Contracts [Member] | ||
Gross Amounts of recognized Derivative Assets | 7,488,340 | 11,944,753 |
Gross Amounts offset in the Statements of Financial | ||
Net Amounts Presented in the Statements of Financial Condition | 7,488,340 | 11,944,753 |
Frontier Diversified Fund [Member] | Swap Contracts [Member] | ||
Gross Amounts of recognized Derivative Assets | 4,629,556 | 6,384,583 |
Gross Amounts offset in the Statements of Financial | ||
Net Amounts Presented in the Statements of Financial Condition | 4,629,556 | 6,384,583 |
Frontier Long/Short Commodity Fund [Member] | Swap Contracts [Member] | ||
Gross Amounts of recognized Derivative Assets | 582,519 | 362,521 |
Gross Amounts offset in the Statements of Financial | ||
Net Amounts Presented in the Statements of Financial Condition | $ 582,519 | 362,521 |
Frontier Heritage Fund [Member] | Swap Contracts [Member] | ||
Gross Amounts of recognized Derivative Assets | 2,888,009 | |
Gross Amounts offset in the Statements of Financial | ||
Net Amounts Presented in the Statements of Financial Condition | $ 2,888,009 |
Derivative Instruments and He_7
Derivative Instruments and Hedging Activities (The Series of the Frontier Funds) (Details Textual) | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Derivative Instruments and Hedging Activities (Textual) | |
Embedded management fees, description | There are embedded management fees in transacting these swaps ranging from 1% to 1.5% based on fair value of swaps and the embedded incentive fees ranging from 15% to 25% based on net new trading profits on swaps. |
Derivative Instruments and He_8
Derivative Instruments and Hedging Activities (Frontier Funds) (Details) - Frontier Fund [Member] - Realized Trading Revenue from Futures, Forwards and Options [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |||
Realized trading income/(loss) | $ (221,676) | $ 178,499 | $ 420,559 | [1] | $ (1,098,851) | [1] |
Agriculturals [Member] | ||||||
Realized trading income/(loss) | (27,242) | 64,042 | 25,052 | 4,479 | ||
Currencies [Member] | ||||||
Realized trading income/(loss) | (3,074) | (190,296) | (89,048) | (690,957) | ||
Energies [Member] | ||||||
Realized trading income/(loss) | (9,668) | (7,996) | 14,070 | (592,892) | ||
Interest rates [Member] | ||||||
Realized trading income/(loss) | (113,962) | 312,541 | 128,434 | 862,211 | ||
Metals [Member] | ||||||
Realized trading income/(loss) | 10,260 | 5,826 | 316,370 | (611,514) | ||
Stock indices [Member] | ||||||
Realized trading income/(loss) | $ (77,990) | $ (5,618) | $ 25,681 | $ (73,178) | ||
[1] | Amounts recorded in the Statements of Operations under Net realized gain(loss) on futures forwards and options. |
Derivative Instruments and He_9
Derivative Instruments and Hedging Activities (Frontier Funds) (Details 1) - Frontier Fund [Member] - Net Change in Open Trade Equity from Futures, Forwards and Options [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |||
Unrealized trading income/(loss) | $ (51,316) | $ (19,404) | $ (77,034) | [1] | $ 506,147 | [1] |
Agriculturals [Member] | ||||||
Unrealized trading income/(loss) | 32,288 | (17,348) | 14,916 | (96,927) | ||
Currencies [Member] | ||||||
Unrealized trading income/(loss) | (49,704) | 83,394 | (20,473) | 170,634 | ||
Energies [Member] | ||||||
Unrealized trading income/(loss) | (1,630) | 589 | (4,275) | 221,638 | ||
Interest rates [Member] | ||||||
Unrealized trading income/(loss) | 44,437 | (99,664) | 36,412 | (334,017) | ||
Metals [Member] | ||||||
Unrealized trading income/(loss) | (86,875) | 4,519 | (113,782) | 488,974 | ||
Stock indices [Member] | ||||||
Unrealized trading income/(loss) | $ 10,168 | $ 9,106 | $ 10,168 | $ 55,845 | ||
[1] | Amounts recorded in the Statements of Operations under Net change in open trade equity/(deficit). |
Derivative Instruments and H_10
Derivative Instruments and Hedging Activities (Frontier Funds) (Details 2) - Frontier Fund [Member] - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Open Trade Equity/(Deficit) [Member] | ||
Gross Amounts of recognized Derivative Assets | $ 660,810 | $ 154,778 |
Gross Amounts offset in the Statements of Financial | (668,927) | (38,594) |
Net Amounts Presented in the Statements of Financial Condition | (8,117) | 116,184 |
Swap [Member] | ||
Gross Amounts of recognized Derivative Assets | 12,700,415 | 21,579,866 |
Gross Amounts offset in the Statements of Financial | ||
Net Amounts Presented in the Statements of Financial Condition | $ 12,700,415 | $ 21,579,866 |
Derivative Instruments and H_11
Derivative Instruments and Hedging Activities (Frontier Funds) (Details Textual) - Frontier Fund [Member] - USD ($) | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities (Frontier Funds) (Textual) | |||
Monthly average of forwards, options and futures contracts bought | $ 568 | $ 490 | |
Monthly average of forwards, options and futures contracts sold | $ 230 | $ 277 | |
Minimum [Member] | |||
Derivative Instruments and Hedging Activities (Frontier Funds) (Textual) | |||
Percentage of embedded management fees | 1.00% | ||
Percentage of fair value of swaps and embedded incentive fees | 19.00% | ||
Maximum [Member] | |||
Derivative Instruments and Hedging Activities (Frontier Funds) (Textual) | |||
Percentage of embedded management fees | 15.00% | ||
Percentage of fair value of swaps and embedded incentive fees | 25.00% |
Trading Activities and Relate_2
Trading Activities and Related Risks (The Series of the Frontier Funds) (Details) | 6 Months Ended |
Jun. 30, 2020 | |
The Series of Frontier Funds [Member] | |
Trading Activities and Related Risks (Textual) | |
Trading activities and related risks ,description | 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. |
Trading Activities and Relate_3
Trading Activities and Related Risks (Frontier Funds) (Details) | 6 Months Ended |
Jun. 30, 2020 | |
Frontier Fund [Member] | |
Trading Activities and Related Risks (Frontier Funds) (Textual) | |
Description of trading activities and related risks | 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. |
Subsequent Events (The Series o
Subsequent Events (The Series of the Frontier Funds) (Details) - The Series of Frontier Funds [Member] - Subsequent Event [Member] | 1 Months Ended |
Aug. 10, 2020USD ($) | |
Frontier Balanced Fund [Member] | |
Subsequent Events (The Series of the Frontier Funds) (Textual) | |
Trust paid in redemptions | $ 320,587 |
Frontier Diversified Fund [Member] | |
Subsequent Events (The Series of the Frontier Funds) (Textual) | |
Trust paid in redemptions | 413,886 |
Frontier Heritage Fund [Member] | |
Subsequent Events (The Series of the Frontier Funds) (Textual) | |
Trust paid in redemptions | 8,869 |
Frontier Long/Short Commodity Fund [Member] | |
Subsequent Events (The Series of the Frontier Funds) (Textual) | |
Trust paid in redemptions | 2,561 |
Frontier Masters Fund [Member] | |
Subsequent Events (The Series of the Frontier Funds) (Textual) | |
Trust paid in redemptions | 55,039 |
Frontier Select Fund [Member] | |
Subsequent Events (The Series of the Frontier Funds) (Textual) | |
Trust paid in redemptions | 5,500 |
Frontier Global Fund (formerly Frontier Winton Fund) [Member] | |
Subsequent Events (The Series of the Frontier Funds) (Textual) | |
Trust paid in redemptions | $ 72,127 |
Subsequent Events (Frontier Fun
Subsequent Events (Frontier Funds) (Details) | 1 Months Ended |
Aug. 14, 2020USD ($) | |
Frontier Funds [Member] | The Trust [Member] | Subsequent Event [Member] | |
Subsequent Events (Frontier Funds) (Textual) | |
Trust paid in redemptions | $ 878,568 |