Filer:
Company Data:
Company Name: ProFutures Long/Short Growth Fund, L.P.
IRS number: 74-2849862
State of Incorporation: Delaware
Fiscal Year End: 12/31
Business Address: 11612 Bee Cave Road, Suite 100
Austin, Texas 78733
Business Phone: 800-348-3601
Filing Values:
Form Type: 424B3
SEC File Number: 000-25585
PROFUTURES LONG/SHORT GROWTH FUND, L.P.
Account Statement of Income (Loss)
For the Calendar Month of October 1999
(Prepared from Accounts Without Audit)
NET TRADING INCOME (LOSS): October 31, 1999
----------------
Realized Trading Gain (Loss) $ 5,406,788.37
Change in Unrealized Gain (Loss) (7,464,275.00)
Less Broker Commissions 3,096.00
Less Other Trading Fees 1,373.66
--------------
NET TRADING INCOME (LOSS) (2,061,956.29)
Interest Income 179,608.81
--------------
NET INCOME (LOSS) BEFORE EXPENSES (1,882,347.48)
--------------
EXPENSES INCURRED OR ACCRUED:
Professional Services 6,701.12
ProFutures Management Fee 103,296.94
Change in Incentive Fee 0.00
Other Expenses 2,125.38
--------------
NET EXPENSES 112,123.44
--------------
NET INCOME (LOSS) FOR THE PERIOD $(1,994,470.92)
==============
STATEMENT OF CHANGES IN NET ASSET VALUE (N.A.V.)
N.A.V., Beginning of Period $43,208,949.45
Partners' Additions 621,679.81
Partners' Redemptions (187,576.30)
Net Income (Loss) for the Period (1,994,470.92)
--------------
N.A.V., End of Period $41,648,582.04
==============
Percentage Increase (Decrease) (4.62)%
==============
Per Unit Value $ 1,820.62
==============
THIS STATEMENT IS ACCURATE AND COMPLETE TO THE BEST OF MY KNOWLEDGE:
/s/ Gary D. Halbert
GARY D. HALBERT
PRESIDENT OF PROFUTURES, INC.
GENERAL PARTNER FOR PROFUTURES LONG/SHORT GROWTH FUND, L.P.
ADVISOR'S PRO FORMA COMPOSITE AND FUND
PERFORMANCE FROM JULY 1, 1995 THROUGH
OCTOBER 31, 1999
[CHART]
DATA POINTS FOR MOUNTAIN CHART
6/95 $1000.00
7/95 987.20
8/95 982.76
9/95 1046.54
10/95 1061.29
11/95 957.71
12/95 976.00
1/96 1088.93
2/96 1086.97
3/96 1121.10
4/96 1166.50
5/96 1219.70
6/96 1239.46
7/96 1192.93
8/96 1199.03
9/96 1311.02
10/96 1351.92
11/96 1409.65
12/96 1300.26
1/97 1451.74
2/97 1501.97
3/97 1660.73
4/97 1478.55
5/97 1609.40
6/97 1764.70
7/97 2014.94
8/97 1808.21
9/97 2003.85
10/97 1829.12
11/97 1864.26
12/97 1751.29
1/98 1799.72
2/98 1987.50
3/98 2177.44
4/98 2230.48
5/98 2238.73
6/98 2220.02
7/98 2169.81
8/98 2832.94
9/98 2356.91
10/98 2825.15
11/98 3160.26
12/98 3473.08
1/99 3558.11
2/99 3542.56
3/99 3466.86
4/99 3531.59
5/99 3334.87
6/99 3601.59
7/99 3243.19
8/99 3243.14
9/99 3491.29
10/99 3329.99
ADVISOR'S PRO FORMA COMPOSITE AND FUND
PERFORMANCE FROM JULY 1, 1995 THROUGH
OCTOBER 31, 1999
- -------------------------------------------------------------------------------
1999 1998 1997 1996 1995
- -------------------------------------------------------------------------------
January 2.4% 2.8% 11.7% 11.6%
- -------------------------------------------------------------------------------
February (0.4)% 10.4% 3.5% (0.2)%
- -------------------------------------------------------------------------------
March (2.1)% 9.6% 10.6% 3.1%
- -------------------------------------------------------------------------------
April 1.9% 2.4% (11.0)% 4.1%
- -------------------------------------------------------------------------------
May (5.6)% 0.4% 8.9% 4.6%
- -------------------------------------------------------------------------------
June 8.0% (0.8)% 9.7% 1.6%
- -------------------------------------------------------------------------------
July (10.0)% (2.3)% 14.2% (3.8)% (1.3)%
- -------------------------------------------------------------------------------
August 0.0% 30.6% (10.3)% 0.6% (0.5)%
- -------------------------------------------------------------------------------
September 7.7% (16.8)% 10.8% 9.3% 6.5%
- -------------------------------------------------------------------------------
October (4.6)% 19.9% (8.7)% 3.1% 1.4%
- -------------------------------------------------------------------------------
November 11.9% 1.9% 4.3% (9.8)%
- -------------------------------------------------------------------------------
December 9.9% (6.1)% (7.8)% 1.9%
- -------------------------------------------------------------------------------
Year (4.1)% 98.3% 34.7% 33.2% (2.4)%
(6 mos.)
- -------------------------------------------------------------------------------
ADVISOR'S PRO FORMA COMPOSITE AND FUND RESULTS
JULY 1, 1995 THROUGH OCTOBER 31, 1999
Total Annualized
------- ----------
3 months 2.7%
6 months (5.7)%
1 year 17.9%
2 years 82.1% 34.9%
3 years 146.3% 35.1%
----- ----
Inception* 233.0% 32.0%
===== ====
*July 1, 1995
ADVISOR'S PRO FORMA COMPOSITE AND FUND
PERFORMANCE FROM JULY 1, 1995 THROUGH
OCTOBER 31, 1999
PERFORMANCE VS. S&P 500 STOCK INDEX
-----------------------------------
Composite/
Fund INDEX
---------- -----
Total Return 233.0% 169.3%
Annualized Return 32.0% 25.7%
Worst Drawdown (16.8)% (15.4)%
Average Month 2.7% 2.0%
Best Month 30.6% 8.1%
Worst Month (16.8)% (14.5)%
Best 12 Months 98.3% 51.9%
Worst 12 Months 7.7% 8.1%
Positive Months 33 38
Negative Months 19 14
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
NOTES: Performance shown above is actual results, net of fees, for ProFutures
Long/Short Growth Fund, L.P., for the period November 1997 (fund inception) to
the date of publication noted at top. Prior to that time, performance is the
composite pro forma results of the Leverage 3 Futures Program managed by
Hampton Investors, Inc. for the period July 1995 through October 1997, on a
monthly and annual basis (year-to-date basis for partial years). The
historical performance of the Leverage 3 Futures Program has been
retroactively adjusted on a pro forma basis to approximately reflect the
cost/fee structure of the Fund for the period from the Leverage 3 Futures
Program's inception through the period immediately preceding commencement of
trading by the Fund. The purpose of this pro forma presentation is to provide
an approximation of the rates of return such composite accounts would have
achieved had they been traded pursuant to the Fund's cost/fee structure. Pro
forma comparisons are subject to certain inherent limitations and actual
results may have been different; see Prospectus for details. Pro forma
assumptions; General Partner management fee 3% per annum of month-end Net
Assets; Trading Advisor incentive fee 20% of New Trading Profits; operating
and administrative expenses 1% per annum of average annual Net Assets; actual
transaction costs and interest income as reflected in the Leverage 3 Futures
Program composite. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE
RESULTS. FUTURES TRADING IS SPECULATIVE AND INVOLVES SUBSTANTIAL RISK. The
Fund's performance in 1998 resulted from a combination of highly volatile
equity markets and generally accurate predictions of market movements by the
Advisor's Program. There can be no assurance that either such volatility or
accurate predictions will continue. Both the General Partner and the Advisor
believe the Fund's 1998 returns were substantially above the returns one can
reasonably expect from an investment such as the Fund.
The use of this Performance Update is authorized only when preceded or
accompanied by a current Prospectus and recent monthly report relating to the
Fund. This does not constitute an offer to sell or a solicitation of an offer
to buy any securities. The offering of units in the Fund can only be made by
the Prospectus, which contains important information regarding the substantial
risks associated with an investment. The Prospectus should be read carefully
and retained by any person considering such an investment.
The units have not been approved or disapproved by the Securities and Exchange
Commission or the Commodity Futures Trading Commission, nor has the Securities
and Exchange Commission, the Commodity Futures Trading Commission, or any
state securities commission passed upon the accuracy or adequacy of the
Prospectus or this page. Any representation to the contrary is a criminal
offense. An investment in the Fund is speculative and involves a high degree
of risk.