FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
(X) QUARTERLY REPORT UNDER SECTION 13 or 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
OR ( ) TRANSITION REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarter ended June 30, 2001
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Commission File Number 0-28336
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SMITH BARNEY MID-WEST FUTURES FUND L.P. II
(Exact name of registrant as specified in its charter)
- --------------------------------------------------------------------------------
New York 13-3772374
- --------------------------------------------------------------------------------
(State or other jurisdiction of (I.R.S. Employer)
incorporation or organization Identification No.)
c/o Smith Barney Futures Management LLC
388 Greenwich St. - 7th Fl.
New York, New York 10013
- --------------------------------------------------------------------------------
(Address and Zip Code of principal executive offices)
(212) 723-5424
- --------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No ___
SMITH BARNEY MID-WEST FUTURES FUND L.P. II
FORM 10-Q
INDEX
Page
Number
PART I - Financial Information:
Item 1. Financial Statements:
Statement of Financial Condition
at June 30, 2001 and December 31, 2000
(unaudited). 3
Statement of Income and Expenses and
Partners' Capital for the three and
six months ended June 30, 2001 and 2000
(unaudited). 4
Notes to Financial Statements
(unaudited) 5 - 10
Item 2. Management's Discussion and Analysis
of Financial Condition
and Results of Operations 11 - 14
Item 3. Quantitative and Qualitative Disclosures
of Market Risk 15
PART II - Other Information 16
2
PART I
Item 1. Financial Statements
SMITH BARNEY MID-WEST FUTURES FUND L.P. II
STATEMENT OF FINANCIAL CONDITION
(Unaudited)
June 30, December 31,
2001 2000
------------ ------------
Assets:
Investment in Master Fund $39,689,741 $ --
Cash, in commodity futures trading account 33,993 37,561,240
Net unrealized appreciation
on open positions, in commodity futures trading account -- 7,601,505
----------- -----------
39,723,734 45,162,745
Interest receivable 87,913 160,983
----------- -----------
$39,811,647 $45,323,728
=========== ===========
LIABILITIES AND PARTNERS' CAPITAL:
Liabilities:
Accrued expenses:
Commissions $ 199,058 $ 226,619
Management fees 65,955 75,079
Administrative fees 32,977 37,539
Other 39,596 49,840
Redemptions payable 297,277 1,153,427
----------- -----------
634,863 1,542,504
----------- -----------
Partners' Capital:
General Partner, 608.9156 Unit equivalents
outstanding in 2001 and 2000 832,552 855,825
Limited Partners, 28,044.4189 and 30,541.2490 Units of Limited
Partnership Interest outstanding in 2001 and 2000, respectively 38,344,232 42,925,399
----------- -----------
39,176,784 43,781,224
----------- -----------
$39,811,647 $45,323,728
=========== ===========
See Notes to Financial Statements.
3
SMITH BARNEY MID-WEST FUTURES FUND L.P. II
STATEMENT OF INCOME AND EXPENSES AND PARTNERS' CAPITAL
(UNAUDITED)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
---------------------------- ----------------------------
2001 2000 2001 2000
------------ ------------ ------------ ------------
Income:
Realized gains on closed positions from Master $ (1,802,168) $ -- $ 4,323,895 $ --
Change in unrealized gains (losses) on open positions
from Master (3,138,413) -- 2,195,620 --
Net gains (losses) on trading of commodity
interests (See Note 1)
Realized gains (losses) on closed positions -- (1,943,951) 1,517,732 (11,881,383)
Change in unrealized losses on open
positions -- (2,462,478) (7,601,505) (618,947)
____________ ____________ ____________ ____________
(4,940,581) (4,406,429) 435,742 (12,500,330)
Less, brokerage commissions including clearing fees
of $13,105, $13,915, $24,769 and $31,528, respectively (648,642) (823,602) (1,350,802) (1,840,838)
____________ ____________ ____________ ____________
Net realized and unrealized losses (5,589,223) (5,230,031) (915,060) (14,341,168)
Interest income 297,617 547,291 714,258 1,244,856
____________ ____________ ____________ ____________
(5,291,606) (4,682,740) (200,802) (13,096,312)
____________ ____________ ____________ ____________
Expenses:
Management fees 204,866 525,274 428,552 1,171,697
Administrative fees 102,433 131,319 214,275 292,924
Other expenses 16,669 18,670 33,507 45,671
____________ ____________ ____________ ____________
323,968 675,263 676,334 1,510,292
____________ ____________ ____________ ____________
Net loss (5,615,574) (5,358,003) (877,136) (14,606,604)
Additions -- -- -- 835,000
Redemptions (825,390) (5,948,117) (3,727,304) (14,917,469)
____________ ____________ ____________ ____________
Net decrease in Partners' capital (6,440,964) (11,306,120) (4,604,440) (28,689,073)
Partners' capital, beginning of period 45,617,748 55,324,229 43,781,224 72,707,182
____________ ____________ ____________ ____________
Partners' capital, end of period $ 39,176,784 $ 44,018,109 $ 39,176,784 $ 44,018,109
------------ ------------ ------------ ------------
Net asset value per Unit
(28,653.3345 and 39,959.2219 Units outstanding
at June 30, 2001 and 2000, respectively) $ 1,367.27 $ 1,101.58 $ 1,367.27 $ 1,101.58
------------ ------------ ------------ ------------
Net loss per Unit of Limited Partnership
Interest and General Partner Unit equivalent $ (192.88) $ (125.50) $ (38.22) $ (309.93)
------------ ------------ ------------ ------------
See Notes to Financial Statements.
4
Smith Barney Mid-West Futures Fund L.P. II
Notes to Financial Statements
June 30, 2001
(Unaudited)
1. General:
Smith Barney Mid-West Futures Fund L.P. II,(the "Partnership") is a limited
partnership which was organized on June 3, 1994 under the partnership laws of
the State of New York to engage directly or indirectly in the speculative
trading of a diversified portfolio of commodity interests including futures
contracts, options and forward contracts. The Partnership commenced trading
operations on September 1, 1994. From September 1, 1994 through January 25,
2001, the Partnership engaged directly in the trading of commodity interests.
Effective January 26, 2001, the Partnership transferred substantially all
of its assets to the JWH Strategic Allocation Master Fund LLC, a New York
limited liability company (the "Master"), as a Non-Managing member. The Master
was formed in order to permit commodity pools managed now or in the future by
John W. Henry & Company, Inc. (the "Advisor") using the Strategic Allocation
Program to invest together in one trading vehicle. Smith Barney Futures
Management LLC (the "General Partner") is the general partner of the Partnership
and the managing member of the Master. There is no material increase in expenses
to investors as a result of investment in the Master and redemption rights are
not affected.
As of June 30, 2001, the Partnership owns 43.62% of the Master. It is the
Partnership's intention to continue to invest substantially all of its assets in
the Master. The performance of the Partnership is directly affected by the
performance of the Master. The financial statements of the Master are attached
to this report and should be read together with the Partnership's financial
statements.
The Partnership's commodity broker is Salomon Smith Barney Inc. ("SSB").
SSB is an affiliate of the General Partner. The General Partner is wholly owned
by Salomon Smith Barney Holdings Inc. ("SSBHI"), which is the sole owner of SSB.
SSBHI is a wholly owned subsidiary of Citigroup Inc. As of June 30, 2001, all
trading decisions for the Partnership are made by John W. Henry & Company, Inc.
("the Advisor").
The accompanying financial statements are unaudited but, in the opinion of
management, include all adjustments, consisting only of normal recurring
adjustments, necessary for a fair presentation of the Partnership's financial
condition at June 30, 2001 and December 31, 2000 and the results of its
operations for the three and six months ended June 30, 2001 and 2000. These
financial statements present the results of interim periods and do not include
all disclosures normally provided in annual financial statements. You should
read these financial statements together with the financial statements and notes
included in the Partnership's annual report on Form 10-K filed with the
Securities and Exchange Commission for the year ended December 31, 2000.
5
Due to the nature of commodity trading, the results of operations for the
interim periods presented should not be considered indicative of the results
that may be expected for the entire year.
The Master's Statement of Financial Condition as of June 30, 2001, and its
Statement of Income and Expenses and Members' Capital for the three months and
period ended June 30, 2001 were:
Statement Financial Condition
(Unaudited)
June 30, 2001
Assets:
Equity in commodity futures trading account:
Cash $89,431,166
Net unrealized appreciation
on open futures positions 1,551,184
-----------
$90,982,350
Members' Captial:
Members' capital $90,982,350
-----------
$90,982,350
-----------
Statement of Income and Expenses and Members' Capital
(Unaudited)
For the period from For the three months
ended January 26, 2001 to
June 30, 2001 June 30, 2001
Income:
Net gains on trading of commodity interests:
Realized gains (losses) on closed positions $ (4,113,157) $ 9,739,706
Change in unrealized losses on open positions (7,186,566) (7,446,241)
------------- -------------
(11,296,723) 2,293,465
Less, clearing fees (69,035) (107,273)
------------- -------------
Net income (loss) (11,365,758) 2,186,192
Additions 100,000 20,850,000
Redemptions (5,391,528) (6,955,068)
------------- -------------
Net increase (decrease) in Members' capital (16,657,286) 16,081,124
Members' capital, beginning of period 107,639,636 74,901,226
------------- -------------
Members' capital, end of period $ 90,982,350 $ 90,982,350
============= =============
6
Smith Barney Mid-West Futures Fund L.P. II
Notes to Financial Statements
June 30, 2001
(Unaudited)
1. Financial Highlights:
Changes in the Partnership's net asset value per Unit for the three and six
months ended June 30, 2001 and 2000 were as follows:
THREE-MONTHS ENDED SIX-MONTHS ENDED
JUNE 30, JUNE 30,
------------------------ ----------------------
2001 2000 2001 2000
---------- --------- -------- ---------
Net realized and unrealized losses $ (191.97) $ (122.58) $ (39.39) $ (304.26)
Interest income 10.23 12.44 23.69 26.37
Expenses (11.14) (15.36) (22.52) (32.04)
--------- --------- --------- ---------
Decrease for period (192.88) (125.50) (38.22) (309.93)
Net Asset Value per Unit,
beginning of period 1,560.15 1,227.08 1,405.49 1,411.51
--------- --------- --------- ---------
Net Asset Value per Unit,
end of period $ 1,367.27 $ 1,101.58 $ 1,367.27 $ 1,101.58
========== ========= ========= ==========
Total Return (12.4)% (2.8)%
Ratio of expenses, including brokerage
commissions, to average net assets * 9.3% 9.7%
Ratio of net loss to average net assets * (53.8)% (4.2)%
- --------------------------------------------------------------------------------
Financial Highlights of the Master:
Total Return (10.6)% 2.9%
Ratio of expenses, including brokerage
commissions, to average net assets * 0.3% 0.2%
Ratio of net loss to average net assets * (46.8)% 4.9%
* Annualized
7
Smith Barney Mid-West Futures Fund L.P. II
Notes to Financial Statements
June 30, 2001
(Unaudited)
(Continued)
2. Trading Activities:
The Partnership was formed for the purpose of trading contracts in a
variety of commodity interests, including derivative financial instruments and
derivative commodity instruments. The Partnership invests the majority of its
assets through a "master fund/feeder fund" structure. The results of the
Partnership's investment in the Master are shown in the statement of income and
expenses and are discussed in Note 3 of the Master's Notes to Financial
Statements.
The respective Customer Agreements between the Partnership and SSB and the
Master and SSB give the Partnership and the Master, respectively, the legal
right to net unrealized gains and losses.
All of the commodity interests owned by the Master are held for trading
purposes. The average fair value during the period from January 26, 2001 to June
30, 2001, based on a monthly calculation, was $7,202,155. The fair value of
these commodity interests, including opetions thereon, if applicable, at June
30, 2001 was $1,551,184, as detailed below.
Fair Value
-------------------
June 30, 2001
-------------------
Currency:
- Exchange Traded Contracts $ 78,063
- OTC Contracts 467,245
Energy 539,083
Grains 316,325
Interest Rates U.S. (501,981)
Interest Rates Non-U.S. 642,863
Livestock 6,970
Metals:
- Exchange Traded Contracts (344,033)
- OTC Contracts 145,280
Softs 623,819
Indices (422,450)
` ---------------
Total $ 1,551,184
---------------
As of December 31, 2000, all of the commodity interests owned by the
Partnership are held for trading purposes. The average fair value during the
twelve months ended December 31, 2000, based on a monthly calculation, was
$1,479,528. The fair value of these commodity interests, including options
thereon, if applicable, at December 31, 2000, was $7,601,505, as detailed below.
Fair Value
---------------------
December 31, 2000
---------------------
Currency:
- Exchange Traded Contracts $ 207,188
- OTC Contracts 2,621,875
Energy 1,274,209
Grains 133,604
Interest Rates U.S. 1,617,516
Interest Rates Non-U.S. 1,330,610
Livestock 8,960
Metals:
- Exchange Traded Contracts (7,055)
- OTC Contracts (62,921)
Softs (133,324)
Indices 610,843
------------
Total $ 7,601,505
===========
8
Smith Barney Mid-West Futures Fund L.P. II
Notes to Financial Statements
June 30, 2001
(Unaudited)
(Continued)
3. Financial Instrument Risk:
The Partnership is party to financial instruments with off-balance sheet
risk, including derivative financial instruments and derivative commodity
instruments, through its investment in the Master.
The Master is party to financial instruments with off-balance sheet risk,
including derivative financial instruments and derivative commodity instruments,
in the normal course of its business. These financial instruments may include
forwards, futures and options, whose value is based upon an underlying asset,
index, or reference rate, and generally represent future commitments to exchange
currencies or cash flows, to purchase or sell other financial instruments at
specific terms at specified future dates, or, in the case of derivative
commodity instruments, to have a reasonable possibility to be settled in cash,
through physical delivery or with another financial instrument. These
instruments may be traded on an exchange or over-the-counter ("OTC"). Exchange
traded instruments are standardized and include futures and certain option
contracts. OTC contracts are negotiated between contracting parties and include
forwards and certain options. Each of these instruments is subject to various
risks similar to those related to the underlying financial instruments including
market and credit risk. In general, the risks associated with OTC contracts are
greater than those associated with exchange traded instruments because of the
greater risk of default by the counterparty to an OTC contract.
Market risk is the potential for changes in the value of the financial
instruments traded by the Master due to market changes, including interest and
foreign exchange rate movements and fluctuations in commodity or security
prices. Market risk is directly impacted by the volatility and liquidity in the
markets in which the related underlying assets are traded.
Credit risk is the possibility that a loss may occur due to the failure of
a counterparty to perform according to the terms of a contract. Credit risk with
respect to exchange traded instruments is reduced to the extent that an exchange
or clearing organization acts as a counterparty to the transactions. The
Master's risk of loss in the event of counterparty default is typically limited
to the amounts recognized in the statement of financial condition and not
represented by the contract or notional amounts of the instruments. The Master
has concentration risk because the sole counterparty or broker with respect to
the Master's assets is SSB.
The General Partner monitors and controls the Master's risk exposure on a
daily basis through financial, credit and risk management monitoring systems and
accordingly believes that it has effective procedures for evaluating and
limiting the credit and market risks to which the Master is subject. These
monitoring systems allow the General Partner to statistically analyze actual
trading results with risk adjusted performance indicators and correlation
9
statistics. In addition, on-line monitoring systems provide account analysis of
futures, forwards and options positions by sector, margin requirements, gain and
loss transactions and collateral positions.
The notional or contractual amounts of these instruments, while not
recorded in the financial statements, reflect the extent of the Master's
involvement in these instruments. The majority of these instruments mature
within one year of June 30, 2001. However, due to the nature of the Master's
business, these instruments may not be held to maturity.
10
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations.
Liquidity and Capital Resources
The Partnership does not engage in the sale of goods or services. Its only
assets are its investment in the Master and interest receivable. The Master does
not engage in the sale of goods or services. Its only assets are its allocated
equity in its commodity futures trading account, allocated net unrealized
appreciation (depreciation) on open futures and forward contracts, commodity
options, if applicable, and interest receivable. Because of the low margin
deposits normally required in commodity futures trading, relatively small price
movements may result in substantial losses to the Partnership. While substantial
losses could lead to a decrease in liquidity, no such losses occurred in the
second quarter of 2001.
The Partnership's capital consists of the capital contributions of the
partners as increased or decreased by its investment in the Master, expenses,
interest income, redemptions of Units and distributions of profits, if any.
For the six months ended June 30, 2001, Partnership capital decreased 10.5%
from $43,781,224 to $39,176,184. This decrease was attributable to net loss from
operations of $877,136 coupled with the redemption of 2,496.8301 Units resulting
in an outflow of $3,727,304, for the six months ended June 30, 2001. Future
redemptions can impact the amount of funds available for investment in the
Master in subsequent periods.
The Master's capital consists of the capital contributions of the members
as increased or decreased by gains or losses on commodity futures trading,
expenses, interest income, redemptions of Units and distributions of profits, if
any.
For the six months ended June 30, 2001, Master capital increased 21.5% from
$74,901,226 to $90,982,350. This increase was attributable to net income from
operations of $2,186,192 coupled with additions of $20,850,000, which was
partially offset by the redemption of $6,955,068, for the period from January
26, 2001 to June 30, 2001. Future redemptions can impact the amount of funds
available for investments in commodity contract positions in subsequent periods.
Results of Operations
During the second quarter of 2001, the Partnership's net asset value per
unit decreased 12.4% from $1,560.15 to $1,367.27 as compared to a decrease of
10.2% in the second quarter of 2000. The Partnership experienced a net trading
loss before brokerage commissions and related fees in the second quarter of 2001
of $4,940,581. Losses were primarily attributable to the trading of commodity
futures, in the Master, in currencies, energy, U.S. and non-U.S. interest rates,
livestock, metals, indices and softs and were partially offset by gains in
grains. The Master experienced a net trading loss before brokerage commissions
and related fees in the second quarter of 2001 of $11,296,723. The Partnership
experienced a net trading loss before commissions and related fees in the second
quarter of 2000 of $4,406,429. Losses were primarily attributable to the trading
of commodity futures in energy, U.S. and non U.S. interest rates, softs, metals
11
and indices and were partially offset by gains in currencies, grains and
livestock.
Commodity futures markets are highly volatile. Broad price fluctuations and
rapid inflation increase the risks involved in commodity trading, but also
increase the possibility of profit. The profitability of the Partnership (and
Master) depends on the existence of major price trends and the ability of the
Advisor to identify correctly those price trends. Price trends are influenced
by, among other things, changing supply and demand relationships, weather,
governmental, agricultural, commercial and trade programs and policies, national
and international political and economic events and changes in interest rates.
To the extent that market trends exist and the Advisor is able to identify them,
the Partnership (and Master) expects to increase capital through operations.
Interest income on 80% of the Partnership's average daily equity, allocated
to it by the Master, was earned at the monthly average 30 day U.S. Treasury bill
rate. Interest income for the three and six months ended June 30, 2001 decreased
by $249,674 and $530,598, respectively, as compared to the corresponding periods
in 2000. The decrease in interest income is primarily due to a decrease in
interest rates and the effect of redemptions on the Partnership's equity
maintained in cash during the six month period ended June 30, 2001.
Brokerage commissions are calculated on the adjusted net asset value on the
last day of each month and, therefore, vary according to trading performance,
additions and redemptions. Accordingly, they must be analyzed in relation to the
fluctuations in the monthly net asset values. Commissions and fees for the three
and six months ended June 30, 2001 decreased by $174,960 and $490,036,
respectively, as compared to the corresponding periods in 2000.
Management fees are calculated as a percentage of the Partnership's net
asset value as of the end of each month and are affected by trading performance,
additions and redemptions. Management fees for the three and six months ended
June 30, 2001 decreased by $320,408 and $743,145, respectively, as compared to
the corresponding periods in 2000 primarily due to a decrease in the management
fee rate during the fourth quarter of 2000.
Administrative fees are paid to the General Partner for administering the
business and affairs of the Partnership. These fees are calculated as a
percentage of the Partnership's net asset value as of the end of each month and
are affected by trading performance, additions and redemptions. Administrative
fees for the three and six months ended June 30, 2001 decreased by $28,886 and
$78,649, respectively, as compared to the corresponding periods in 2000.
Incentive fees are based on the new trading profits generated by the
Advisor as defined in the advisory agreement between the Partnership, the
General Partner and the Advisor. There were no incentive fees earned for the
three and six months ended June 30, 2001 or 2000.
12
Item 3. Quantitative and Qualitative Disclosures of Market Risk
All of the Partnership's assets are subject to the risk of trading loss
through its investment in the Master.
The Master is a speculative commodity pool. The market sensitive
instruments held by it are acquired for speculative trading purposes, and all or
substantially all of the Master's assets are subject to the risk of trading
loss. Unlike an operating company, the risk of market sensitive instruments is
integral, not incidental, to the Master's main line of business.
Market movements result in frequent changes in the fair market value of the
Master's open positions and, consequently, in its earnings and cash flow. The
Master's market risk is influenced by a wide variety of factors, including the
level and volatility of interest rates, exchange rates, equity price levels, the
market value of financial instruments and contracts, the diversification effects
of the Master's open positions and the liquidity of the markets in which it
trades.
The Master rapidly acquires and liquidates both long and short positions in
a wide range of different markets. Consequently, it is not possible to predict
how a particular future market scenario will affect performance, and the
Master's past performance is not necessarily indicative of its future results.
Value at Risk is a measure of the maximum amount which the Master could
reasonably be expected to lose in a given market sector. However, the inherent
uncertainty of the Master's speculative trading and the recurrence in the
markets traded by the Master of market movements far exceeding expectations
could result in actual trading or non-trading losses far beyond the indicated
Value at Risk or the Master's experience to date (i.e., "risk of ruin"). In
light of the foregoing as well as the risks and uncertainties intrinsic to all
future projections, the inclusion of the quantification included in this section
should not be considered to constitute any assurance or representation that the
Master's losses in any market sector will be limited to Value at Risk or by the
Master's attempts to manage its market risk.
Exchange maintenance margin requirements have been used by the Master as
the measure of its Value at Risk. Maintenance margin requirements are set by
exchanges to equal or exceed the maximum losses reasonably expected to be
incurred in the fair value of any given contract in 95%-99% of any one-day
intervals. Maintenance margin has been used rather than the more generally
available initial margin, because initial margin includes a credit risk
component, which is not relevant to Value at Risk.
13
The following table indicates the trading Value at Risk associated with the
Master's open positions by market category as of June 30, 2001. All open
position trading risk exposures of the Master have been included in calculating
the figures set forth below. As of June 30, 2001, the Master's total
capitalization was $90,982,350.
June 30, 2001
(Unaudited)
Year to Date
% of Total High Low
Market Sector Value at Risk Capitalization Value at Risk
- --------------------------------------------------------------------------------
Currencies:
- Exchange Traded Contracts $ 425,250 0.47% $ 425,250 $ 182,149
- OTC Contracts 4,233,154 4.65% 5,090,588 1,955,574
Energy 2,033,500 2.24% 2,033,500 487,000
Grains 239,825 0.26% 306,150 222,075
Interest Rates U.S. 452,730 0.50% 1,300,700 406,740
Interest Rates Non-U.S 2,131,764 2.34% 4,042,034 1,271,569
Livestock 10,200 0.01% 10,800 7,000
Metals:
- Exchange Traded Contracts 344,500 0.38% 479,000 120,000
- OTC Contracts 276,500 0.30% 276,500 77,500
Softs 439,782 0.48% 469,764 188,739
Indices 1,769,764 1.95% 1,769,764 965,339
----------- -----
Total $12,356,969 13.58%
=========== =====
14
PART II OTHER INFORMATION
Item 1. Legal Proceedings - None
Item 2. Changes in Securities and Use of Proceeds - None
Item 3. Defaults Upon Senior Securities - None
Item 4. Submission of Matters to a Vote of Security Holders - None
Item 5. Other Information - None
Item 6. (a) Exhibits - None
(b) Reports on Form 8-K - None
15
SIGNATURES
Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
SMITH BARNEY MID-WEST FUTURES FUND L.P. II
By: Smith Barney Futures Management LLC
(General Partner)
By: /s/ David J. Vogel, President
David J. Vogel, President
Date: 8/13/01
---------
Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.
By: Smith Barney Futures Management LLC
(General Partner)
By: /s/ David J. Vogel, President
David J. Vogel, President
Date: 8/13/01
---------
By: /s/ Daniel R. McAuliffe, Jr.
----------------------------
Daniel R. McAuliffe, Jr.
Chief Financial Officer and Director
Date: 8/13/01
---------
16